What our clients say

David advised me on consolidating my defined benefit and defined contribution pensions into one fund. It was a very complicated technical exercise which David guided me through with the utmost professionalism and integrity. He dealt with all the parties and kept me informed along the way including explaining deeply technical issues in a straightforward, understandable manner. I have no hesitation in recommending David.

Mark H

David manages my investments in a pension fund which is not my area of expertise, it's extremely reassuring to have found a financial advisor I can trust implicitly. I find David extremely approachable, knowledgeable and completely up to date with all the complexities that surround pensions and investments. As he says, 'no question is a stupid question', I feel completely at ease to ask him anything or express any concerns I might have. I always come away from my annual review feeling informed and reassured that my investments are in the best possible hands. David's office is a welcome beacon, relaxing and he makes a great cup of coffee!

Janey G

David has managed our financial affairs and investments for many years and we could not have chosen a better independent financial advisor. He is always available to answer our questions or give advice and we come away from our annual meeting knowing our investments are in safe hands. We cannot recommend Ferry Financial highly enough.

Mick M

David has been our financial advisor for 15 years and we have always been very pleased with his handling of our finances. He is always at the other end of the phone when we need him. I have no hesitation in recommending Ferry Financial.

Denise M

David has managed my investments for a number of years. The advice given by David is always clear, concise and understandable. He has a in-depth knowledge around the complexities of pension management and is happy to spend time talking through different scenarios. David is always available to answer any questions I may have and I come away from our discussions with a clear understanding of my options moving forward. As well as his technical expertise David is just a nice person to do business with and that makes a big difference in my book. I would be certainly be happy to recommend David to any of my friends or colleagues.

Kevin L

David helped us to consolidate our various pensions into SIPPs so we now have a greater understanding of how much we have in our retirement funds. David offers a first class service – he is always readily available to talk and deals with our requirements promptly and efficiency. It is very refreshing to have a personal service which is sadly lacking in the current culture of call centres. We have known David for over 12 years and we highly recommend him as a trusted Advisor.

Brendan and Jayne B

The end (of the year) is nigh

Date Published:28/02/2008
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What do the phrases, ‘Bed and spouse’ and, ‘use it or lose it’ mean to you? You will be aware that we are nearing the end of the tax year. ‘Bed and spouse’ is about using Capital Gains Tax allowances and ‘Use it or lose it’ is about your annual gift allowance.

This year will be particularly busy for financial planners due to the imminent changes to a number of tax rates and rules.

Within the wide range of tax efficient investments ranging from Individual Savings Accounts to Venture Capital Trusts, passing through Enterprise Investment Schemes, Enterprise Zone Property Trusts and a whole host of different types of pension scheme, which is best for you?

In addition, should you sell some or perhaps all of your investments now, or wait until after 6th April?

The answer to all of these questions, and many more besides, will depend on your own particular circumstances, objectives and priorities.

You will recall one of my recent articles in which I was discussing the benefits of keeping as much of your investment returns as possible.

Paying as little tax as possible forms part of that strategy.

Taking this theme one step further, why don’t you ask the Taxman to invest as much as possible into your portfolio?

Individuals having saved a load of tax may even feel that they are in a position to take advantage of the annual gift exemption and give away £3,000 to whomever they wish, with absolutely no tax consequences.

To many, receiving a £3,000 gift at Easter may be more welcome than some overpriced chocolate!

It may even work out cheaper to you in the long run. As ever, I am not going to give any specific advice here but you really should be seeking the advice of a good financial planner this year more than ever due to the numerous changes taking place very soon.

The changes in Capital Gains Tax will leave some of you better off in the future, however, many will be worse off.

The removal of Taper relief for capital gains will mean that some potential gains currently falling within the annual exemption and not being subject to tax may, after 6th April become partially taxable at 18%.

Is there going to be a reduction is the rate of Income Tax from 22% to 20%, or is there going to be an increase from 10% to 20%?

Well, both are correct!

This will mean 20% taxpayers paying into their pension from 6th April will get less for their money.

Those of you receiving 40% tax relief will still be able to reclaim the additional relief but you will have to pay more at the time of investment.

From 6th April, you will be able to pay an extra £200 into your ISA as the annual allowance is increasing to £7,200. There will be other changes to ISA rules.

At the moment, you may feel life was far simpler when ‘Bed and Spouse’ and ‘Use it or lose it’ meant something rather different!