Reeves expands into iconic new Head Office.

Reeves Independent has recently completed its expansion into a landmark building in Gosforth. 


The building, at 30 High Street, Gosforth, known locally as the Old Bank, originally having been home to the Midland Bank, is one of the area’s best known commercial properties.

It now forms the headquarters for Reeves Independent, giving us a prominent high street presence and offers welcoming and convenient place where new and existing clients can visit us to discuss their pension and retirement needs.

Our original property, also on the High Street, will be retained as our National Client Advice Centre, from which we will service our clients in the rest of the UK.

We also have plans over the next few years to open some satellite offices in other key areas of the UK.

Reeves has always focused on providing the best possible service to our clients, rather than investing in plush offices. However, as the business has grown on the back of that quality of service, it has become necessary to expand our physical presence. The new office allows us to enhance our service levels even further, while giving clients the opportunity for face-to-face meetings in a comfortable, bespoke environment.

We look forward to welcoming you here.

Reeves Independent offers a free review of your pension situation. Click the button below to get started.


These articles are for information only. These articles are based on specific clients and their situation may be different from yours. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

Spring into Action and Save Tax

It pays to look ahead when making provision for your retirement and this is the time year when we think about tax.


The tax year comes to a close at the end of the first quarter of 2020 and, although we haven’t yet seen the back of 2019, you should be thinking about this now. So, be sure to get in touch with your Reeves client account manager before the end of the tax year. We have a hotlist of people we’re contacting to make sure they make the best use of their allowances. Speak to your account manager to ensure you’re included.

At Reeves, we will be looking at ways in which we can use everybody’s allowances to their maximum benefit. This applies to pension contributions, ISA contributions, capital gains tax and income tax.

At the time of writing, we’re in the middle of a general election campaign, but, while there is political uncertainty, whatever the outcome of the election, there will still be tax allowances available for people to use. It’s our job to make sure you’re paying as little tax as possible and maximising the amount you get back from the taxman. Last year, for clients who took advantage of our tax planning services, we saved, on average, each one £4,500 in tax*.

We’ve pointed out before that there are seven ways to pay less tax.
  • Pay more into your pension to reduce your taxable income. This is the easiest way to pay less tax. Contributions made into your pension receive income tax relief at your marginal rate. While interest rates are so low, it’s well worth investing any spare cash into pension funds to take advantage of the 25% boost (if you’re a lower rate tax payer) that the taxman will give your savings, a return you’ll be highly unlikely to earn anywhere else.
  • Make a salary sacrifice agreement with your employer. This may allow you to pay more into your pension without reducing your take home salary at all.
  • Withdraw 25% of your pension pot as a tax free lump sum.
    Recycle your tax free lump sum back into a new pension. There are strict rules on recycling, so you’ll need to take advice on this.
  • Maximise your use of personal allowances and don’t forget your spouse’s personal allowances.
  • Start pensions for your children or grandchildren. You can pay £2,880 into each every year and the government will apply tax relief to raise this to £3,600 and the transfers won’t be subject to inheritance tax, so long as they are made at least seven years before your own death.

Not all allowances can be carried forward, so use them while you can. Also, some allowances that you may have been able to carry forward, may be about to expire, so make sure you don’t lose those. Remember, if you want to minimise your tax bill and maximise your savings, get in touch with your client adviser.

Also in the first quarter, for every client who is retired and has a drawdown policy, we’ll be conducting the usual twice yearly review (the second being in quarter 3), looking at their income needs and where the income will come from. At the same time, we also review the products that we manage and assess whether they’re still suitable for each client and judge whether their investments are still on track to help them achieve their retirement goals. This helps to focus clients on their retirement plan and gives them a view of their income over the coming years. It helps us to keep up to date with clients’ changing circumstances and perhaps identify other areas where we can help.

In the meantime – have a merry Christmas and a happy and prosperous New Year.

*Based on average saving from clients that requested end of tax year advice.
The financial conduct authority does not regulate tax and estate planning.

Reeves Independent offers a free review of your pension situation. Click the button below to get started.


These articles are for information only. These articles are based on specific clients and their situation may be different from yours. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

Reeves listed in Financial Times Top 100 Advisers

In a wonderful early Christmas present, Reeves Independent has been ranked among the country’s leading financial advisers, being included in the prestigious Financial Times Adviser Top 100 Financial Adviser awards.


We now rank in the top 0.5% of advice firms

Not only that, but in a separate category for smaller, niche firms, we’ve been ranked as ninth in the UK for firms with less than six advisers. This also makes Reeves Independent the top firm in the North East with six or fewer advisers.

To put these achievements in context - there are 17,000 firms throughout the country and more than 30,000 advisers.

Our inclusion in the FT rankings is a reflection of the significant investment in resources that Reeves Independent has made in knowledge, qualifications and team capability over recent years.

This meant Reeves broke into this year’s list, because, whereas it was previously based on turnover, this year the FT expanded the criteria to include the total number of advisers, growth in AUM (assets under management), staff training, qualifications and client retention. Also included were complaint statistics.

These are criteria that investors can use to find the best firm to assist them with their finances.

Reeves Independent’s presence in the Top 100, puts it in the company of such well-known, blue chip names as Barclays, St James Place, Brewin Dolphin and Hargreaves Lansdowne.

Nigel Reeves, owner and founder of Reeves Independent, says: “This is an exciting moment for Reeves Independent. We’ve always taken pride in our high standards of client service and in their care. We have again upped our resource significantly over the past two years, which has resulted in high client retention rates which features within one of the award criteria. We’re delighted at the changes to the way firms are assessed for these awards, this has enabled the work done at Reeves to result in us being included in this prestigious list.''

Owner Nigel Reeves Accepting Financial Time Top 100 Financial Advisers Award

“Our Top 100 ranking is fantastic, but we won’t be resting on our laurels. We will continue to develop the business to offer an even better client experience, so that, hopefully we climb even higher in the FT’s list of top 100 Financial Advisers.”

Reeves Independent offers a free review of your pension situation. Click the button below to get started.


These articles are for information only. These articles are based on specific clients and their situation may be different from yours. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

Reeves Independent Named FT Top 100 Advisers

Reeves Independent ranked as one of the Top 100 Financial Advisers in the country at the prestigious Financial Times Adviser Top 100 Financial Adviser awards


Owner Nigel Reeves collecting the award

Being included in the FT Top 100 Advisers list is a significant achievement for Reeves Independent, as a smaller, niche firm compared to many others in the listing. We now rank in the top 0.5% of advice firms and 9th in the UK for less than six advisers. This also makes Reeves Independent the top firm in the North East for six or fewer advisers - a superb achievement given that there are 17,000 firms throughout the country and more than 30,000 advisers. Reeves Independent have invested significant resource into staff training and support to improve knowledge, qualifications and team capability over recent years. We are delighted that this is reflected in the inclusion of Reeves within the FT rankings.

In the past, the FT Top 100 listing was based on turnover. This year they expanded the criteria to include the total number of advisers, growth in AUM (assets under management), staff training, qualifications and client retention amongst others. Also included was complaint statistics, so it is rewarding to have this recognised. These criteria were used to assess key factors that can help investors seeking the best firm to assist them with their finances. As a result, reeves broke into the top 100 IFA’s in the UK for the first time this year.

Reeves Independent now rank in the top 100 are in the company of high-profile businesses like Barclays, St James Place, Brewin Dolphin and Hargreaves Lansdowne.

''This is an exciting moment for Reeves Independent. We have always taken pride in our high standards of client service and care. We are delighted at the changes to the way firms are assessed for these awards. This has enabled the work done at Reeves to result in us being included in this prestigious list.” Owner Nigel Reeves

Reeves Independent continues to perform well during tough, uncertain economic and political times. A sign marked by the breakthrough into the top 100 Financial Advisers in the country and their move into the Old Bank in Gosforth as their expansion through excellent customer service and client retention continues.

Nigel Reeves, owner and founder of Reeves Independent, had the following words to say upon being named in the top 100 advice firms. “This is an exciting moment for Reeves Independent. We have always taken pride in our high standards of client service and in their care. We have again upped our resource significantly over the past two years, which has resulted in high client retention rates which features within one of the award criteria. We are delighted at the changes to the way firms are assessed for these awards. This has enabled the work done at Reeves to result in us being included in this prestigious list.”

The award came at a special time as Reeves Independent have recently expanded into the bespoke building, located at 30 High Street, Gosforth. The building is known fondly as the Old Bank, as it was the former Midland Bank and is one of the area’s most prominent commercial properties.

The award comes at a time of expansion for Reeves Independent

“Expansion into the new building is important as it highlights our commitment to growing the business to be able support clients further. The new office offers a new, more luxurious space to proudly welcome new and existing clients in, to discuss their pension and retirement needs. This will provide enhanced customer experience, a better standard of service and show clients how serious we are.

We have worked incredibly hard to grow the business to where it is today. But we want to continue to grow and offer even better clients service, which is why we continue to expand. The new building marks a time of expansion, a time of growth and offers our commitment to growing our business to match our client’s needs.

Our Top 100 ranking is fantastic, but we won’t rest on our laurels. The new building will play a key role in helping us grow the business further and to offer a better client experience. With this, we can hopefully climb even higher of the FT’s list of top 100 Financial Advisers.” – Nigel Reeves.

Reeves proudly sit in the top 100 IFA's in the UK

Reeves Independent offers a free financial review of your pension situation.
Click the button below to get started. 


These articles are for information only. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

A helping hand: Tom’s story

We are more than just financial advisers


When Tom came to us with an issue we really wanted to help him

Reeves Independent are more than just financial advisers. It’s fundamental to our approach that every client sees us a company that truly cares about looking after its people – both staff and clients. We build deeper relationships with our clients, based on mutual trust and understanding that is closer to friendship.

It’s part of life that people really enjoy talking about successes – and so you should. However, when the chips are down, we are reluctant to tell others due to feelings of shame, embarrassment and vulnerability. It’s natural to keep your feelings closely guarded.

We are delighted when you contact us with good news, such as a pay rise or a windfall and want to pay more money into a pension. However, it’s just as important that you get in touch during the darker times.

''We build deeper relationships with our clients, based on mutual trust and understanding that is closer to friendship.''

We recently had a client called Tom Stevens, who is in his late 50's. Tom is a very well respected client. He rang up to tell us he was suffering from a mental health problem. He was planning to take 12 months off work to deal with this and wanted to take £10,000 out of his pension to replace lost earnings during that time.

We were deeply saddened to hear that this was the case. It is not nice to see anybody go through such struggles. Furthermore, this rang some alarm bells as we’d already identified Tom as being financially vulnerable. He didn’t have all the savings or funds in his pension to fulfil his retirement plans. This proposed, unplanned withdrawal meant his pension pot would be further dented, reducing how long it would last. 

We discussed this matter in complete confidence with Tom and came up with a bespoke solution for him. 

Firstly, we established the key facts: exactly how long was he going to be out of work? Was it really 12 months or would it possibly be longer? We had to establish whether the figure of £10,000 was the result of careful & realistic calculation or an impulsive reaction to his situation. We can only act on facts, so we needed to make sure Tom had thoroughly considered this. It's hard to think straight when you have other worries on your mind. As a result, it makes it hard to make smart and rational decisions. To act in Tom’s best interests, we needed to establish just what his monthly requirements and expenses were, as well as the parameters of the period he was likely to be out of work.

Sometimes you can make decisions based on emotion - you just need a friend to make it all clear for you

Ultimately, a client’s money is their own and they're free to make their own decisions. However, we believe we have a duty as trusted advisers and friends to ensure that the client understands that what they think they need, might not be the best way to meet their requirements.

The solution we came up with for Tom was, rather than rush into taking a lump-sum out of his pension, to make a series of sustainable and regular smaller tax-efficient withdrawals that he would be comfortable with.

Tom’s situation is by no means unusual. Somebody who is well today can be vulnerable tomorrow. We have the knowledge, the expertise and the experience to be able to help in any situation. We have almost certainly dealt with similar problems in the past.

But, in order to help, we need you to get in touch and give us all the facts. Don’t keep it to yourself and make a spur-of-the-moment decision under stress, which may damage your long-term goals.

Phone a friend.

Click the button below for a free initial review of your pension situation - with an IFA that truly cares. 


Names have been changed to protect identity. These articles are for information only and are based on specific client circumstances which may be different to yours. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

How to avoid paying 55% tax on your pensions!

Pension schemes enjoy some generous tax benefits - such as income tax relief payments, as well as tax-free growth thereafter.


Planning how to use your lifetime allowance is important

These benefits can turbo-charge your retirement savings and allow you to make provisions for your retirement.

It also means that the taxman loses out on potential revenues so, even though he gives these reliefs, there are limits to his generosity. That limit comes in the form of a lifetime pension allowance, which this year stands at £1,055,000. If you pay more than that into your pension, you’ll be taxed on any excess. The tax rates are 25% if it’s withdrawn as income, or as much as 55% if it’s withdrawn as a cash lump-sum. This charge is imposed at the point you start withdrawing funds from the pension.

One client, Tom Garner, had built up a pension fund of £1.5m. He came to us for advice on what he should do in the coming years: should he continue to pay surplus cash into his pension? We wouldn't advise this, because he had already exceeded his lifetime allowance. Instead, we advised Tom to add to his retirement planning through other means.

''We recommend a phased crystallisation strategy.''

Tom's next question was: should he crystallise the whole fund now, as he is over the age of 55, paying the tax charge so that the remainder could be taken in the form of a drawdown pension?

We recommended another option: to adopt a phased crystallisation strategy so that each year Tom only crystallises enough of his pension to give him his required annual income of £50,000.

In the first year, he uses £12,500 of his income tax allowance, leaving Tom to find a balance of £37,500. So, Tom crystallises £150,000 - this will enable him to take 25% tax-free. This is only just over 14% of his lifetime allowance and, because the lifetime allowance and personal income tax allowance increase every year in line with inflation, this percentage progressively reduces. This means Tom can go for over eight years without paying any tax, at the point at which he has reached his full lifetime allowance. All this time, he is keeping money in his pension pot which can continue to grow.

If he had taken the first option and crystallised the whole pension now, he would have been taxed at 55% on the difference between his £1.5m and the £1,055,000 lifetime allowance, which would have landed him with a tax bill of about £245,000.

We wish Tom had come to us sooner so we could have helped him further

It’s a pity Tom didn’t come to Reeves three years before as we could have saved him even more. To provide some compensation to those whose pensions were greater than the limit when it was introduced in 2016, two types of protection were introduced: Individual Protection and Fixed Protection.

You could apply for Individual Protection if your savings were worth more than £1m on April 5 2016 and get a personal lifetime allowance equal to the value of your pension savings at that date, up to a limit of £1.25m.

Or, you could apply for the Fixed Protection if you, or your employer, hadn’t added to your pension since April 5 2016, or if you opted out of any workplace schemes before that date. This would also give a protected lifetime allowance of £1.25m.

Tom could have fixed his lifetime allowance at £1.25m, but he continued contributing to his pension, which meant that he was ineligible.

For a free financial review click the button below.


Names have been changed to protect identity. These articles are for information only and are based on specific client circumstances which may be different to yours. No advice should be conferred from the articles. No action should be taken without independent professional financial advice as any actions on your pension may be irrevocable and have a big impact on your income in retirement.

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