A Radio Star Is Born! Geoff Newman of Lyndhurst Financial Management Makes His Debut on BBC Three Counties Radio

A Radio Star Is Born! Geoff Newman of Lyndhurst Financial Management Makes His Debut on BBC Three Counties Radio

Geoff Newman, Development Director at leading Hertfordshire-based financial planning and financial management company Lyndhurst Financial Management made his radio debut on BBC Three Counties when he joined the business panel on Roberto Perrone’s Show last Tuesday. You can listen to the show here.

Geoff, a newcomer to the panel, was sent a list of possible questions during the afternoon of the show and had no idea beforehand which questions Roberto would select. Under the pressures of live radio, Geoff had to answer a range of questions from Superdry owner Jutian Dunkerton giving £1m to the campaign for another referendum, to the dumping of 50 million tonnes of misshaped fruit and vegetables and what the Treasury should do with its £2billion tax surplus.

Geoff rose to the challenge, even when one of the other panellists rudely interrupted him to disagree with his point of view on one of the topics. He says

“I was the only ‘newbie’ on the panel but I think I held my own and made a contribution. It was very enjoyable and quite a challenge when you know people are listening in.  Some of the questions were quite thought provoking and Roberto is such a great radio presenter, he really ramps up the energy. I was particularly amused at the beginning of the business panel session when he invited listeners who knew me to text or email him with dark secrets about me.
The cheques are in the post to everyone who kept quiet!”

Cohabiting Couples Urgently Need Independent Financial Advice

Cohabiting Couples Urgently Need Independent Financial Advice

Despite the fact that it’s now the norm for so many couples to live together instead of getting married, even if they have children, there are still a lot of myths around a person’s financial rights should they split up or if they are unexpectedly bereaved.th August 2018

Firstly, there is no such thing as a ‘common law’ marriage. Even if you have made a considerable or equal financial contribution to the family home, without your name on the deeds of the property you have no claim on it.

The number of people getting married has steadily decreased year on year, with a further drop of 3.4% in 2017. Cohabiting couples are the fastest growing type of family unit, more than doubling to 3.3 million as compared with just 20 years ago.

Geoff Newman, Development Director at leading Hertfordshire financial advice and financial planning firm Lyndhurst Financial Management says

“Many cohabiting couples are stunned if they split up to discover by law there are no automatically shared assets and basically they have no rights no matter how long they have been together or if they have children.
It’s an anomaly that in 2018 there is no sign that the law is about to change and I can’t stress enough how important it is for cohabiting couples to get independent financial advice to protect themselves and their children. You can get some legal protection with a cohabitation agreement which can help protect your rights while at the same time safeguard your individual interests and assets.
It’s also important for couples to be aware that if the main breadwinner, usually the man, dies unexpectedly, their partner cannot claim thousands of pounds in government support, whereas married partners of people who die are able to claim three separate payments on their passing, paid for from the late partner’s National Insurance contributions. They include a bereavement support payment, a widowed parent’s allowance and a bereavement allowance.
In the face of a sudden and dramatic loss of family income, these payments are essential for widows or widowers who are left to bring up the children. It can also pay for funeral and other costs. Sometimes the partner who is left also needs to take time off work.”

A study has suggested that co-habiting but unmarried couples may be missing out on as much as £82million a year, with £15million in bereavement payments, £11million in bereavement allowance and £56million a year in widowed parent’s allowance.

Geoff continues

“There are approximately six million people in cohabiting relationships in the UK, preferring not to get married. It is always essential for couples, and especially those with children, to make financial arrangements in case they split up or if one of them should die unexpectedly.
Partners should always have wills and a Lasting Power of Attorney drawn up for the main breadwinner in case of unexpected accidents or tragedies. As a cohabiting couple you can’t even inherit your deceased partner’s pension. I think the laws around these issues need to be reviewed because such a large number of couples who have families choose not to marry, but until the law changes it is essential for co-habiting couples to get professional financial and legal advice on how to protect themselves and their families in the future.”

From Barmaid and Pen Salesman To Love Island’s Most Valuable Couple – What’s Next For Dani and Jack?

From Barmaid and Pen Salesman To Love Island’s Most Valuable Couple – What’s Next For Dani and Jack?

We won’t be seeing Dani Dyer behind the bar anytime soon, unless it’s in her real life dad’s (actor Danny Dyer) pub, as Mick Carter, landlord of The Vic, on EastEnders. With her stationery salesman boyfriend Jack Fincham, the Love Island winning couple look set to make themselves a fortune, individually and together, over the coming year.

Love Island, which drew record high audiences this year, follow the love antics of teams of young, fit and generally gorgeous male and female competitors as they couple up, split up, re couple or get ‘dumped’ from the show by public demand. Viewers were able to watch the spectacle and love life dramas over eight weeks and from the very beginning, Dani and Jack were the favourites to win.

Geoff Newman, Development Director at leading Hertfordshire based financial planning and advice company, Lyndhurst Financial Management, says

“Love Island has become a TV phenomenon and for the winners, the opportunities are enormous. They have the power of their social media following on Instagram and Twitter, plus numerous requests for media coverage, endorsements and of course we expect to see them in their own shows soon. Reality TV stars can make huge sums of money and even if Dani and Jack are only in the public eye for the next year, until Love Island 2019, they have to make the most of it.

Although they are both in their early twenties it’s vitally important that they don’t just fritter their money away. It’s hard for twentysomethings to think about pensions and long term investments- the most they tend to consider is perhaps buying a home. However, if you earn substantial amounts at no matter what age it’s vitally important to get the best professional advice so that you can make the right decisions for yourself. A secure financial future gives you tremendous freedom, even in your twenties. It’s really the best time to start so that you can retire early and do something completely different.

It’s shocking to read in the news today that Katie Price, who made so much money from reality TV, ghosted books and other options is now facing potential bankruptcy because most of her £48 million has gone. You don’t have to be wealthy to need financial advice, truly, the sooner the better.”

Paraplanner – Office based in Hitchin

Paraplanner – Office based in Hitchin

Reporting to: Adam Cook; Operations Director
Location: Office based in Hitchin
Purpose of the role: To undertake the role of paraplanner

Key tasks:
To support all our financial advisers with particular focus on our pensions specialist:

  • Product research
  • Diary management
  • Obtaining product key features using internal systems and software, provider intranets and the internet
  • Liaising with product and investment providers. Processing applications for products and investments by post or via the internet
  • Client administration
  • Producing draft reports and suitability reports
  • Administering client files
  • Documenting client meetings
  • Providing support for client meetings including schedules, valuations, key features documents and other information/documentation
  • Updating and using the back-office systems, reporting M.I. data to managers and Directors.

Microsoft Office Suite, Iress Xplan, O&MProfiler,
Knowledge of Standard Life Wrap, Aegon/Cofunds and AJ Bell Wrap would be preferred but not essential.

Although a broad knowledge is required you will be working with our Pensions Specialists. Therefore a good knowledge of Pensions and Drawdown contracts would be preferred.

Achieved or studying towards Diploma in Financial Planning. Prefer at least RO1 to be completed and an interest in Pensions, RO4 or AF3.

Our team of professional advisers offer a personal service underpinned by industry leading technology. Our purpose is to promote the financial well-being of our clients, their families and their businesses, through innovative use of investments, pensions and protection.

Lyndhurst Financial Management Limited offer our mortgage and financial advisers access to full adviser CRM and software packages, facilities to work from home or office desk space, access to meeting rooms for client appointments, flexible working hours and a structured remuneration package.

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How Much Money Do You Need To Retire Early?

How Much Money Do You Need To Retire Early?

For most employees the promise of a final salary pension is long gone and while many people have chosen to take lump sums from their employee pensions, they have not necessarily secured their financial futures by investing wisely for their retirement.

It’s hard for most people to ascertain how much they’ll need for a comfortable retirement. Inflation and market fluctuations combined with global economic uncertainties affects pensions, investments and assets. Not so long ago a million pounds was considered a fortune, now it doesn’t stretch as far as it once did. According to Time magazine, $1million in savings will have the spending power of just $306,000 in 40 years’ time.

While early retirement is available for some people in the public sector, such as the police or teachers, for most people retirement has shifted later rather than sooner. Yet early retirement is not an impossible dream, especially for young entrepreneurs and successful ‘millennials’, some of whom can afford to stop work in their 30s.

What they must consider is how long will their bank balance stay healthy and do they have enough funds and investments to last them a lifetime, perhaps another 50 years. It’s vitally important to plan for your retirement as early as possible.

Geoff Newman, Development Director at Lyndhurst says

“Whatever your circumstances it’s important to consider things like the cost of living, where you choose to live and what you want to spend your money on. Quality of life is also so important and you want to be able to fund your interests, whether that’s golf, holidays or eating out etc.

We encourage our clients to plan ahead and it’s our job to give them the best advice so that they can make better decisions about their financial future. Early retirees will still have to pay tax above a certain limit on any income they receive from their investments. We think it’s important to make investments that will continue to grow and even if you retire early you may want to continue to work part time or take up a completely different profession or a lucrative hobby.

Most of the people who retire early still want to do something that inspires or challenges them and it’s even better if they can make money out of it, knowing that they are not relying on the income. It’s a good place to be in at a relatively young age but you still need professional help to ensure that you are making the most of your money and assets.”

People Spend More Time Researching Their Holidays Than Finding The Best Mortgage Deal Says Lyndhurst

People Spend More Time Researching Their Holidays Than Finding The Best Mortgage Deal Says Lyndhurst

According to a recent survey by Noddle, a credit report service which was launched in 2011 by British company Callcredit, us Brits spend 5 days looking to book a holiday or 6 days to find a car, yet only take a mere 3.6 days to make what is probably the biggest purchase of our lives, the property we are going to live in or invest in.

Noddle found that an astonishing 26% of homeowners tend to select the first available mortgage they can find and not shop around. It’s a bizarre statistic given that people spend more time shopping online to find a good deal than when they are about to go into debt for hundreds of thousands of pounds.

Over a third of people didn’t know how mortgages work and half that number were not happy with the mortgages they are now stuck with.

Ken Simmons, a top mortgage adviser at one of Hertfordshire’s leading financial planning and financial advice companies, Lyndhurst Financial Management, says

“The statistics are quite shocking and I think one of the reasons might be that people feel they don’t have the same choices and control when trying to secure a mortgage deal, as opposed to buying a holiday or car. It’s the biggest personal investment most people are likely to make and while the first offer might not be a bad deal, when so much is at stake I think it’s a huge error not to investigate what other options are available to you as the sums involved can vary enormously.
For example, the two-year fixed deals rates offered by the main high street banks can vary from 1.84% to 4.22%, some of which also have a ‘product fee’ of nearly £1000. This rate difference can mean that you might be paying an additional £3,000 a year on a typical £200,000 mortgage. In some cases the quick decision on taking the first mortgage offer might be concerns about your credit rating throwing doubts on whether you’d find another deal.
While it’s exciting to find a property you want to buy, it is inevitably a stressful process, getting the mortgage, sorting out the legalities, filling in forms, managing your finances. However, when a rushed decision can add thousands of pounds to your payments the best course of action is to take advice from a professional who can give you information on the best deals available to suit you and your budget. Mortgage advisers can provide invaluable advice on the thousands of products on the market and also ensure that the process of acquiring a mortgage is as smooth as possible.”

Lyndhurst Financial Management Sponsors Annual Teddy Bears’ Picnic in Lydekker Park

Lyndhurst Financial Management Sponsors Annual Teddy Bears’ Picnic in Lydekker Park

If you go down to Lydekker Park on August 1st  you’re in a for big surprise…. for every Teddy Bear that ever there was in Harpenden will gather there with their young friends because Wednesday’s the day the Teddy Bears have their picnic!

Lyndhurst Financial Management, a leading Hertfordshire financial planning and financial advice company is sponsoring this popular family event, along with Puddle Ducks swimming classes. Families will bring a picnic and gather with their little ones who will bring their much loved teddies to enjoy a great fun afternoon. Hosted by the Mayor and town council, the Teddy Bears Picnic, from 11am-2pm, will run alongside National Play Day.

Everyone will be making the most of the sun and the free entertainment on offer including crafts, soft play, bouncy castle, pond dipping and Captain Fantastic Children’s Entertainment.

Geoff Newman, Development Director at Lyndhurst says

“We hope hundreds of people will bring their children with their teddy bears to Harpenden’s secret garden. We are happy to support such an enjoyable event and this year we are going to be fortunate enough to expect a sunny day. We hope parents will ensure that their little ones are protected from the sun and likewise the youngsters will take good care of their precious teddies. There is something about a teddy bears picnic which encapsulates childhood and with hot sunny days we think next Wednesday’s Teddy Bears’ Picnic will be very special.”

Lyndhurst Financial Management Sponsor Annual Let’s Play NH Netball Fundraising Tournament

Lyndhurst Financial Management Sponsor Annual Let’s Play NH Netball Fundraising Tournament

Lyndhurst Financial Management, one of Hertfordshire’s leading financial planning and financial advice companies, was one of the sponsors of this year’s annual Let’s Play Netball NH Tournament, now in its seventh year.

It was hosted at the Priory School in Hitchin on June 30th and was an event for men and women of all ages, accommodating 25 teams, comprising approximately 200 people in total. In addition to the netball, the organisers ran a refreshments stall, and a raffle to raise additional funds.

This year money was raised to benefit two very special local causes:

Lifegeta, a local support network for people with life changing acquired conditions, their friends, family & carers. The group helps to address the emotional effects of finding yourself in a body that doesn’t do what it used to do because of a life changing condition or disability

East and North Herts Hospital Charity to support unpaid carers

Geoff Newman, Development Director at Lyndhurst says

“We aim to support local causes and the local community as much as possible and this was an ideal opportunity for us to make a contribution. Like other locally based companies, our donation helped them to stage this event by contributing towards costs such as court hire/trophies/tea stall, stock and the raffle.

We were able to include our logo in the programme for the day, and also distribute our leaflets an cards in their ‘goodie bags’. It was a most enjoyable event and both the players and the spectators had a great afternoon.”

The tournament raised over £2,600 for Lifegeta and ENH Lister Hospital Unpaid Carers’ Fund, which is their biggest total to date.

Women Need to Plan Early for Their Retirement Says Lyndhurst Financial Management

Women Need to Plan Early for Their Retirement Says Lyndhurst Financial Management

Women Need to Plan Early for Their Retirement Says Lyndhurst Financial Management

Although the 1970 Equal Pay Act is nearly 50 years old and great strides have been made towards gender equality in the workplace, it’s still evident that many female staff are not working on a level playing field with their male counterparts, often owing to family pressures and time out to raise children.

It seems that a number of women are still starting – and staying – in jobs that offer lower pay. The recent case of the BBC versus its former China editor Carrie Gracie highlighted the problem of women not being paid the same as men in the same position. It’s also still true that more women than men take time out of their careers to have children, care for ageing parents, or both. They may find on re entering the workplace that their former male peers are now in much higher positions and they may never catch up, no matter how equally talented they are.

This disparity can be reflected when women are facing retirement much further down the line. A Prudential study showed that women retiring in 2018 will have an income that can be as much £5,000 per year less than men, or 29% lower; and one in six will retire with an income below the Joseph Rowntree Foundation’s minimum income standard, compared to just one in ten men. Analysis of government data also showed that women will receive around £29,000 less than men in State Pension payments over the course of a typical retirement.

This may be due to lower pay throughout their working lives and time out during their careers resulting in smaller workplace pensions, and possibly a reduced State Pension owing to fewer years of National Insurance contributions.

Johanna Haigh, a financial adviser in the Focus For Women dept at leading Hertfordshire financial planning and financial advice company, Lyndhurst Financial Management comments:

“Lyndhurst’s Focus for Women was set up specifically to tackle this issue and empower women to meet their own financial goals. The sooner advice is sought, the more we can do to help ensure our clients have the best retirement they can hope for.
Although women may appear to be at a disadvantage because of various factors, including lower pay, time out of their careers, caring responsibilities and ultimately likely to live longer than their male partners or counterparts, there are a number of steps they can take which will improve their long term financial outlook and help them to achieve a financially secure retirement. We help our clients to make better financial decisions for themselves and we welcome the opportunity to discuss pensions, investments, mortgages and assets as early as possible – it’s never too soon to start financial planning for your future.”

Johanna Haigh can be contacted at our Hitchin office on 01462 441100 or mobile:07896 651641

Are Women Avoiding The Stock Market?

Are Women Avoiding The Stock Market?

Are Women Avoiding The Stock Market?

Historically women in general have been reluctant to invest in stocks and shares, preferring instead to place their money in ‘safer’ ISAs or other types of saving accounts.

A recent survey by Boring Money discovered that only 23% of women have chosen investment products compared to 35% of men. Only 32% of women feel confident choosing an investment product, against 46% of men. The group said the amount invested overall by 18-36 year olds in ISAs is up an impressive 33%, which shows that people are willing to save – but not necessarily in the most profitable way.

Yet while women have traditionally been regarded as risk-averse, a survey by The Share Centre showed the opposite, with 80% of the top ten shares bought by women were for equities in smaller companies, included exploration company Echo Energy, oilfield services provider Petrofac and gold miner Centamin. The top 10 on The Share Centre platform

  1. Echo Energy
  2. Petrofac
  3. Centamin
  4. Sirius Minerals
  5. GlaxoSmithKline
  6. Lloyds Banking
  7. UK Oil & Gas Investments
  8. Angus Energy
  9. IQE
  10. Premier African Minerals.

Women tend to have more ISA savings accounts than men, but they are also more likely to have cash in those accounts and men are more likely to choose the stocks and shares option.

Johanna Haigh, a top financial adviser at leading Hertfordshire based financial advice and financial planning firm Lyndhurst Financial Management says:

“We’ve had low interest rates for a very long time and that means that women have been missing out on the long-term returns that have been available in the stock market.
We have a Focus for Women department and we are working on behalf of women of all ages to help them make better financial decisions for their future. In the last four years, for example, a share ISA could have gained as much as 25% yet a cash ISA as little as 0.5%. A lot of women are not confident about investing in the stock market, especially if they are not on a high pay scale and they can be put off by jargon. Our advice is simple, straightforward, bespoke and jargon free!
I think women’s attitudes are changing and there are definite positive signs that our female investors are becoming more open to viewing investments on a long term basis and therefore they are more willing to invest in stocks and shares.”

Johanna Haigh can be contacted at our Hitchin office on 01462 441100 or mobile:07896 651641