Lee Blissett Wealth Management

It was great to see Kate recognised by the Duke of Edinburgh Award Scheme for her skydive back in July. After posting the video, she was overwhelmed with extra support and donations and we are delighted to report that her fundraising total was £1,494 with Gift Aid - smashing her original target of £500.
Thank you to all of you who so generously donated - what shall we get her to do for her next fundraising adventure???

Many more of us people are living to 100, and we may need social care for years – making a big dent in our savings and the inheritance we may leave.

With careful forward planning, you can mitigate the impact that care fees can have on your inheritance.

Financial advice can help you to plan ahead to cover your social care costs and leave money to younger generations.

Will paying for long-term care affect my inheritance planning? Many of us find it hard to think about ourselves or our parents needing help as we get older, and when we do start to think about it - perhaps in our 50s or 60s, the cost implications can make us wince.

Savings and investments are different but complementary ways of funding your future. Creating the right balance between saving and investing is the heart of a well-balanced financial plan. We’re here to help you work out the right mix for you so you can achieve your goals.
The first step to understanding the difference is to ask yourself a series of questions, including:
💷 How much should or could I put aside?
💷 How soon might I need it?
💷 Where should I put it?
💷 What do I want that money to do for me and my family?
By answering those questions first, you’ll be able to decide how much of your money you should be saving, and how much you might want to invest.

Should I save or invest? How to choose wisely, and well When we talk about saving and investing, we generally think of them as the two main ways to set money aside for the future. It can be easy to confuse them as one and the same thing – or think that you should opt for one or the other.

😀 We are delighted that our Digital Services Assistant, Harry, has secured his first choice place at Bath University to study a Masters in Automotive Engineering, following excellent A Level results. Good luck in your new adventure Harry and we hope that you will continue to support us alongside your studies. 👏

As we have sat back and enjoyed the phenomenal achievements of the Olympics, it has made us reflect that for elite sports stars, a serious injury or illness can throw their career – and their finances – into uncertainty. By taking the right steps today, they, and you, can make sure your plans withstand an unexpected setback.

Having a good understanding of your finances, including what your financial goals are and what you need to do to reach them, is an important starting point. Protection against an injury or illness impacting your earnings is also a good idea and is part of our service for your holistic financial planning.

Planning for the unexpected: why a career-ending injury doesn’t have to derail your finances You may be at your professional peak, or heading towards it, with all the success and financial rewards that come with it – and then, suddenly, one bad tackle, twisted limb or serious diagnosis can set you on a completely different path.

Happy Friday Everyone!

What a week for daredevil fundraising for The Duke of Edinburgh's Award!

We now have more choices, more information and more personal accountability for our retirement income. But will the future we look forward to be one we can afford?
Whether you’ve got 20 years before you retire or just a few, it’s important to have an idea of just how much money you’ll need for a comfortable lifestyle once you stop earning a regular salary.
Financial advisers can give you an idea of what your retirement income will be, based on how much you’re saving. In the article below you can also use our pension calculator to find out how much you need to save to fund the lifestyle you want.

What’s the cost of a comfortable retirement? Whether you’ve got 20 years before you retire or just a few, it’s important to have an idea of just how much money you’ll need for a comfortable lifestyle once you stop earning a regular salary.

How to stay on top of your financial planning with a demanding career
As professionals in accountancy or law, you might already be confident in your understanding of financial affairs and feel that spending time and money working with an adviser isn’t necessary. However, there are still great benefits to this, particularly for a high-earning professional.
For time-poor associates and partners in a major firm, a dedicated financial adviser can lift the load, creating and implementing a financial plan on your behalf that you may be too busy to do yourself.
Cash-flow modelling is a valuable service that an expert financial adviser can offer, to help you understand what you want your retirement to look like and how much you’ll need to make those goals a reality.

How to stay on top of your financial planning with a demanding career If you’re a lawyer or accountant, your work may overlap with the world of financial services, meaning you’d be justified in feeling confident in your understanding of important money matters.

On 9th July we had the pleasure of hosting some clients at the Duke of Edinburgh's Award Summer Cricket Festival held at the Royal Household Cricket Club at Windsor Castle. It was a privilege to be in the grounds of the castle and drive down the Long Walk. Unfortunately, the weather meant that the cricket could not go ahead but the teams had a 'bowl off' competition and we were able to see the all star celebrity DofE team in action. The day raised over £40,000 for the award scheme and we heard from the inspirational Poppy, a DofE youth ambassador who told us about her journey of self acceptance and developing her confidence.
It is always a genuine pleasure to spend time with our clients and we are glad that they enjoyed the day as much as us.

🌞 Yesterday we attended our City summer networking event held at the Museum of London. It was a beautiful day for networking and meeting with peers in such a prestigious location. We listened to an insightful presentation from our Senior Investment Specialist Corinne Lord, and celebrated recognition and achievements across the whole City team. And, of course, we also raised money for the SJP Charitable foundation!

Wishing Kate 🍀Good Luck 🍀 for her Skydive tomorrow! It is not too late to donate as she would love to break the £700 barrier.

The DofE scheme can have a profound effect on the lives of young people, helping to mould and grow their character - from lost young children to young adults with dreams and aspirations and the skills to help achieve them.

Good Luck!

The Duke of Edinburgh's Award - Kate Blissett Having completed a Wing Walk last year to raise funds for the DofE charity, I have got the adrenaline bug, so decided to go to the next level and take on the challenge of a lifetime and do a tandem skydive! Nervous doesn't even begin to cover it!

🛩 ONE WEEK TO GO! 🛩

Yes, we're having a case of deja vu as we seem to remember posting this before! Having battled against a pesky chest infection, Kate feels that jumping out of an aeroplane should be a piece of cake! She's hoping the weather will improve so that at least she will have a good view whilst floating down (serenely) to the ground.

If you have not yet sponsored her, there is still time and the link to her page is in the comments. Thank you to everyone who has donated so far - she is truly grateful for your support.

Investment impact of Labour’s win
-Labour’s electoral victory could lead to a short-term uplift for UK shares.
-The election outcome is unlikely to influence the short-term trajectory of interest rates or inflation.
-Although Labour has some big plans, it will likely face financial constraints, so the Autumn Statement will be one to watch.
See below for commentary from St. James's Place CIO, Justin Onuekwusi.

Investment impact of Labour’s win Labour’s decisive majority win in the General Election is likely to be initially taken positively by markets, according to St. James's Place (SJP) CIO, Justin Onuekwusi.

The rise of the multi-retiree family and what it means for your finances

Multi-retiree families will need their collective finances to stretch further than ever before, and for longer, impacting both inheritances and day to day expenditure.
Financial advice an help the whole family look forward to a retirement on their terms, and financial security that protects the welfare and wellbeing of each generation.

The rise of the multi-retiree family and what it means for your finances Sixty years old is the new middle age. We’re all living longer, and by 2034, more than one million families may have multiple generations in retirement simultaneously– a 32% increase on today’s figure of 813,000.1

Change of date for Kate's Skydive!
Kate is now going to do the Skydive on Friday 19th July, so rest assured all the donations are still going to the DofE and she WILL complete the challenge! Unfortunately, she has been trying to fight off a chest infection and just couldn't shake it - so the doctor advised delaying for a couple of weeks to ensure she is completely fighting fit!
So the good news is there is now 2 extra weeks to get your kind and generous donations in!!
Please see the link to her fundraising page in the comments if you would like to donate, and thank you to everyone who has sponsored her so far.

Should I pay to top up my State Pension?

You’ll be eligible for a full State Pension if you’ve made National Insurance contributions for 35 years. If you’ve paid in for between 10 and 35 qualifying years, you could make additional contributions to top up your pot.
The government scheme to make voluntary National Insurance contributions going back as far as the 2006/07 tax year has been extended. It will now run until 5 April 2025*.
While there are clear benefits to maximising your State Pension, it’s important to discuss it with us as there may be additional implications – for example, around tax.

Sources
*GOV.UK, Voluntary National Insurance, accessed April 2024

Should I pay to top up my State Pension? To get the full State Pension, you now need 35 qualifying years of NICs. If you’ve got between 10 and 35, you’ll get a pro rata amount, but if you’ve got less than 10, you won’t be eligible for any State Pension.

It’s National ’take your dog to work day’ so we tasked Blue with some proof reading. I think she enjoyed it!

What is value investing?
Value investing is an approach where investors look for stocks that exhibit solid fundamentals yet are priced below their true market value. True market value is determined by factors such as future cash flows, competitive advantages, growth prospects, and other key metrics.

Short-term investor sentiment, which can oscillate between fear and greed, often clouds the true value of a stock. The skill of a ‘value investor’ lies in identifying whether a market’s temporary emotional state has diverged from rational analysis and then exploiting it.

Uncovering value in the UK stock market Value investing is an approach where investors look for stocks that exhibit solid fundamentals yet are priced below their true market value. True market value is determined by factors such as future cash flows, competitive advantages, growth prospects, and other key metrics.

We are delighted to feature in the latest 'Prime' magazine, showcasing the best properties brought to market by Elliott James - Prime Residential. Take a look at some of these amazing properties!

Summer Edition 2024 Flipsnack is a digital catalog maker that makes it easy to create, publish and share html5 flipbooks. Upload a PDF or design from scratch flyers, magazines, books and more.

If you’re a lawyer representing clients with a personal-injury or negligence claim, you’ll know that you’re often working with people at an especially vulnerable time in their lives. Such clients need a great deal of support – and a wealth-management adviser can play a key role.

Crucially, that role begins well before the claim is settled and there is a lump sum award to manage – although professional financial advice will be important at that stage, too. A wealth manager can provide lawyers with the data and analysis they need to claim the right amount in the first place.

The article below shows some of the key areas we can support with:

Maximising Financial Security: The crucial role of wealth managers for personal injury and clinical negligence victims If you’re a lawyer representing clients with a personal-injury or negligence claim, you’ll know that you’re often working with people at an especially vulnerable time in their lives. Such clients need a great deal of support – and a wealth-management adviser can play a key role.

Great to spend time with our friends at Elliott James - Prime Residential delivering team training on inherited estates, client needs & potential vulnerabilities, tax efficiency & good financial housekeeping....
We work with Elliott, Heidi, Daniel, Danny, James & the team, as they share our focus on building long term trusted client relationships....

Our latest newsletter is now out! Click below to catch up on our Practice and charity news and to see Lee's article about the importance of a Digital Legacy.

Summer 2024 Newsletter - Issue 12

What’s changing and what’s not – your tax year checklist

In a welcome move in his Spring budget, Chancellor Jeremy Hunt cut employee National Insurance Contributions for the second time this year. But with tax thresholds frozen, many people find themselves slipping into a higher tax band – and paying more tax.

Check to see if any recent changes to National Insurance, ISAs, or Capital Gains Tax will affect you.

What’s changing and what’s not – your tax year checklist In a welcome move in his Spring budget, Chancellor Jeremy Hunt cut employee National Insurance Contributions for the second time this year. But with tax thresholds frozen, many people find themselves slipping into a higher tax band – and paying more tax.

Lee and Kate are both pleased to have passed their Annual Financial Education Accreditation, which means that they are both qualified to deliver St. James's Place Financial Education for Young People workshops.

Financial education is at the heart of everything that we do, not only to help prepare young people for their future, but also to work with our clients to give them a greater understanding of their financial options.

🪂Kate is going for it again! Having successfully completed a wing walk last year to raise funds for the Duke of Edinburgh Award Scheme, she has decided to up her game and take part in a Skydive for the charity this year!
She will be strapped to an instructor for a tandem skydive, jumping out of a plane at 13,000 feet, falling 5,000 feet at 120mph in 40 seconds! After the freefall, it is a 6 minute journey under the parachute back to earth.
The date is set for 5th July and please click the link below to donate any amount you can spare to help her raise her target of £500 for this amazing charity. Thank you! 🪂

The Duke of Edinburgh's Award - Kate Blissett Having completed a Wing Walk last year to raise funds for the DofE charity, I have got the adrenaline bug, so decided to go to the next level and take on the challenge of a lifetime and do a tandem skydive! Nervous doesn't even begin to cover it!

👏🏻On Friday Lee and Kate attended the AGM for the Essex Boys & Girls Club where Lee is a Trustee on the Voluntary Executive Committee. The evening showcases the events and activities enjoyed by the hundreds of young people it supports but also celebrates the volunteers who give their time so selflessly to run the clubs.👏🏻⭐️

👦🏻👩🏽The Directors report summed up why this charity is so special, and so needed in this current world 🌎

“Young people’s pathway through life is not as clear as it once was. Anxiety, worry and mental health are not topics that featured greatly in the past. They do now. The mobile phone and Covid effects are still a constant negative influence on young people and joining a club where you can engage with your peers in a positive, healthy environment where you have skilled and positive adult support can only be good for their development.”

We couldn’t agree more….what do you think?

SJP's recent analysis of the retirement market shows that the growth rate of multi-retiree families is increasing faster than previously projected.
With the demands on retirement income growing, as future generations are expected to financially support others in retirement. What does this mean? Read the full research here: https://www.sjp.co.uk/media-centre/latest-news/number-of-families-with-two-retired-generations-set-to-exceed-one-million-in-next-10-years-as?

SJP's recent analysis of the retirement market shows that the growth rate of multi-retiree families is increasing faster than previously projected.
With the demands on retirement income growing, as future generations are expected to financially support others in retirement. What does this mean? Read the full research here:

Number of families with two retired generations set to exceed one million in next 10 years as retirement incomes forced to stretch further St. James’s Place Wealth Management

Inheritances can be life changing. An inherited lump sum can send children or grandchildren to great schools, or on great gap years. They can mean a mortgage paid off early, or a new business launched.
So, not surprisingly, leaving a good legacy is high on most people’s financial wish lists. And the less Inheritance Tax (IHT) your family will pay, the more you’ll pass to them. Many people know that they can gift money to reduce their IHT liability, but not everyone knows how workplace pensions and death-in-service benefits can be ringfenced to avoid IHT.

Don’t leave your family an avoidable IHT bill Inheritances can be life changing. An inherited lump sum can send children or grandchildren to great schools, or on great gap years. They can mean a mortgage paid off early, or a new business launched.