ST JAMES’S PLACE
As financial advisors, we are passionate about making sure people look after their money and make informed decisions on the best ways to prepare for the future, we’re also passionate about making sure businesses are doing this too.
Is your business your pension pot? Are you making the right business decisions to protect you in the future? Many businesses don’t look at their finances in this way until it’s too late, whether it’s looking at better ways to invest your savings, planning for retirement or simply protecting what you currently have – many people don’t even know where to start or worry at the prospect of even thinking about it. Naz Riasat & Samantha Prendergast from St James’s Place have put together these useful tips for businesses…
Planning for retirement
Take some time to determine how much money it will take to fund your retirement or second-career dreams. The quicker you act in these plans the better the options in retirement.
Diversifying your assets
As you save and invest money for the future, ensure that it is properly diversified and compatible with the amount of risk you are willing to take. Determine a policy and get assistance from an Financial Advisor if required.
Take advantage of all available tax breaks
Consult with your accountant or financial advisor to ensure you and your business are making the most of any tax breaks available to you.
Keep personal and business finances separate
Personal savings are for you and your family, so try to make them a last resort for your business.
Planning for succession
It is important to keep the issue of succession planning in mind. Getting the most out of your business later on can help guide your personal wealth management decisions after you have left the company.
Arranging your estate
Business owners should meet with a qualified specialist to ensure that their goals and wishes are properly accounted for, including plans for business assets. Failing to make a plan could put your business at risk.
Planning is bringing the future into the present, so you can do something about it now.
Many people are ill-prepared for the future and planning now can help mitigate any potential shortfalls down the line.
We are Samantha and Naz from St James’s Place Wealth Management and we will be exhibiting on the day at Brand Yorkshire. We would look forward to meeting you all – pop over to our stand to meet us.