The PBS Confidential team is headed up by Helen Cooke, she is joined by Mike Graham and Bernadette Knight with additional advisers lined up to join the team over the next few months.
In line with the PBS Group philosophy of building long lasting client relationships, PBS Confidential has been built around the core principles of offering qualified, appropriate advice to its clients and has handpicked a team with the necessary experience, expertise and integrity to be able to offer a fresh approach to financial planning.
Total Business Solutions
Many individuals take surprisingly little time over their financial plans and routinely fail to update these plans as time passes and their circumstances change. This is just as true for business owners, focussed on the day to day running of their company, and with orders to fill and contracts to complete it's easy to see how the financial side of the business can be neglected.
During this tough economic climate all businesses have naturally been looking to their costs and many have consequently stripped back the benefits offered to their staff. A short term cost saving certainly, but staff benefits are a highly effective way of maintaining staff loyalty and increasing productivity.
A review of your staff benefits could easily highlight potential cost savings without the need to remove or reduce the benefits themselves. Many group protection schemes such as employee ‘Death in Service’ schemes simply roll over each year rather than being offered to the market for a price check which could mean that you are missing out on price enhancements. However, the biggest change facing the employee benefits industry in recent years has been seen in the Jersey pensions market, changes which have affected your choice for employer schemes as well as your personal pension plan.
It is acknowledged that the days of the ‘Final Salary Pension Scheme’ are numbered, especially for those of us in the private sector. Yet the previous alternative, the insurance based ‘Defined Benefit’ scheme is also looking unattractive. These schemes are generally unwieldy, expensive and require an excessive amount of administrative and legal responsibility for the employer.
Consequently, many employers have moved to 'Retirement Annuity Trust Based' schemes and have been delighted at the reduced workload and the removal of their onerous trustee responsibilities. Scheme members on the other hand have been able to take advantage of an employer funded, flexible retirement savings plan which offers a wide ranging fund choice and fully transparent costs. This type of retirement savings plan is built around the requirements of the individual employee rather than the employer which will hopefully give the employee greater confidence in the value of their plan.
Should the employee subsequently decide to leave the company the employer has no further liability or ongoing administrative burden, they simply stop making contributions.
Total Personal Solutions
As well as looking after the financial planning requirements of business owners, PBS Confidential offers a full financial planning service for individuals. Our advisers can offer guidance on all those day to day personal financial needs as well as formulating investment strategies in response to specific investment objectives.
The events of the past few years have woken many of us up to our financial responsibilities. It's quite natural to avoid certain questions: How do you plan to fund the care of your elderly parents, if required? How would you cope financially if you lost your job? How would you pay the mortgage if you or someone close to you suffered a serious illness? By facing up to these tough questions we can work with you to develop a personal, 'Disaster Recovery' plan to get you back on your feet as swiftly as possible.
We have the skills to look objectively at your investment holdings which you may have retained for sentimental, rather than financial reasons. We will not ignore the things that you think are irrelevant, and will talk about managing your debts as well as identifying if you are overweight in any particular asset class – exposing you to a much higher level of risk than you intended.
Our industry has faced many challenges over recent years and we know that we need to work hard to earn your trust and build a long term relationship. The focus has, quite rightly, shifted back to the needs of the individual, so your financial adviser should not just be someone you see when you need something. They should be proactive and keep you informed even when there are no changes to recommend. How refreshing to be re-assured that your investments are ‘on track’ and that you don’t need to make an expensive change every time you speak to your adviser!
To arrange a meeting with one of the PBS Confidential team call 01534 860660 or find them on line at www.pbsconfidential.co