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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.

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.

Free Financial Consultation

Our investment process – the key to your portfolio returns

A Reeves client can expect to receive an email every eight weeks with our latest investment advice on their portfolio.

We'll keep you in the loop with your investments

Reeves Independent give a recommended course of action, along with a brief explanation of the reasons behind it. It gives the essential facts in an easily digestible form, though it always invites the client to ring and speak to a client adviser if they want a discussion about their action plan and to have it explained clearly. 

In fact, that email is the culmination of eight weeks careful and detailed market research, analysis and discussion. This is a carefully structured process, which never stops, continues to grow and which we have developed over many years of investment experience.

At Reeves, we have three analysts – two internal and one external. In addition, we have an external investment adviser. The team produces a weekly market outlook, which is discussed at weekly meetings. One of the analysts will look at every fund and portfolio daily, so that none of them goes unmonitored for more than one working day. At each weekly meeting, there is a set agenda to discuss certain issues on a rolling cycle. For example, we will discuss the same issue in week three, in each eight-week cycle.

''Automatic alerts on every single fund means nothing goes unnoticed in the event of any significant movement.''

At every meeting, we review whether, on that day, we would create the same portfolios again. This is to ensure that we’re satisfied with everything that we hold. If we decide that we wouldn’t buy an investment on that day, then we take the view that it shouldn’t be in our portfolios at all. We also have automatic alerts on every single fund, so nothing goes unnoticed in the event of any significant movement.

In addition to the weekly meetings, discussions are held every four weeks to study a report prepared by the analysts. In the week immediately preceding each monthly meeting, our investment team compiles a report of the main holdings in each of our portfolios. This means that every email with recommended investment decisions, is the product of no fewer than ten meetings.

We also use high-level external advice. Every month, a different investment fund manager within the portfolio visits our offices to give a presentation on the outlook of the fund. Our team subject them to some tough questioning in order to gain an in-depth understanding of the manager’s strategy. This not only gives Reeves insight into each fund but also is invaluable in helping to build a constantly evolving picture of the way the market is moving.

We work tirelessly to make your investments work for you 

This is a structured, tried and tested system. However, the regular meetings and monitoring mean it remains flexible, and we can react immediately to extraordinary market conditions. The research and monitoring we conduct help protect our chosen holdings, so they continue to perform in likely market conditions.

We don’t have a policy of making constant decisions and transactions. Our philosophy of regular oversight and review means we can avoid having to make frequent sharp corrections. This approach is in line with that of industry leaders.

Once the cycle is complete and we have emailed our clients with our recommendations, it begins again in a constant revolving process of research - meeting - implementation.

During last year’s turbulence and falling markets, our system proved itself. This is because our portfolios stood firm in the face of adversity. They may not have increased in value, but they performed well compared to the markets, and the Reeves portfolio beat the FTSE 100 by about 5%.

For a free initial review of your pension situation, click the button below.

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.

Five pension avoidance scam tips!

A fifth of people over 50 have been targeted by pension scammers, according to research from provider Retirement Advantage. Here are 5 tips to ensure you beat the scammers

1. An offer to help you access your pension savings before age 55. It is only possible to do this in rare situations, for instance if you are very ill, so be careful and always check with your pension provider.

2. A recommendation to take a large amount of money, or your whole pension pot, in a lump sum and invest it. There are significant tax implications if you take lots of your savings in one go, so check the tax position before you make any decisions.

3. Warnings that the deal is limited and you must act now. Choosing the right retirement income product(s) is a big decision and shouldn’t be done quickly or under pressure.

4. An encouragement not to get professional financial advice or talk to Pension Wise. An adviser would be able to explain the rules and tax implications of different options and help you make the best choices for your personal circumstances, so be very suspicious if this is discouraged.

5. Contact by somebody who is not on the Financial Conduct Authority (FCA) register. The register is a public record of all the regulated firms and individuals in the financial services industry, including retirement income providers and investment companies.

Always seek professional advice regarding your pensions!

Speaking to someone about your pension options is easy with Reeves Independent, just email info@reevesifa.com or call us on 0191 281 9862 for a FREE initial conversation!

Reeves Independent’s Technology Portfolio!

Here at Reeves Independent we have just undergone our quarterly review of our Fund Portfolios. Over the next week we will be Blogging about the research the team have undertaken & explain the reasons behind their construction. Firstly we will talk about the Reeves Independent Technology Portfolio.

According to leading fund managers opinions, Technology stocks are set to out perform most equity markets, hence why we have constructed this as a specialist portfolio.

Technology companies are seen to have high profits, good cash flows & cash in the bank. There is demand for their products & services that is likely to continue & it’s considered that these companies can maintain growth even in times of economic uncertainty.

Access to a selection of specialist funds is available through the Reeves Technology Portfolio. This includes the funds managed through Axa Framlington & Henderson (This was our Fund of the Week last month  https://www.reevesifa.com/?p=336) together with a tech tracker fund through Legal & General.

Framlington & Henderson have different feelings about where to invest within the markets. Framlington being very keen on Software & Hardware sectors with over 70% being invested in that sector & Henderson have a more diversified covering of sectors. The Legal & General Tracks an index.

The bulk of the investments within the portfolio are invested with the USA & all 3 funds have ‘Apple’ as the biggest Individual holding.

These funds are for investors looking for higher returns that can afford and are willing to experience higher levels of volatility. Advice should always be sought and this should not be seen as a general recommendation. One should always remember the .com bubble of 10 years ago & tread with caution.

Further details about how to access this portfolio, these funds and the Reeves Independent Wealth management service are available by calling 0191 281 9862 or e-mail info@reevesifa.com NOW for a FREE initial chat!

What is our ‘Risk Assessment’ Process?

Here at Reeves Independent providing our clients with top quality customer service is a priority. When it comes to clients investments it is vital that we work closely with them to ensure they are invested appropriately. Below highlights the steps/questions we go through before investing;

  1. Firstly we would ask you describe your ‘attitude’ towards taking financial risks right now? Is it Balanced, Cautious or Aggressive?
  2. We then attempt to measure your attitude on a scale of 1-10. The reason behind this is to see if this confirms or contradicts you answer to question 1.
  3. Thirdly we assess how ‘strong’ or how ‘weak’ your confidence levels are in the current economic environment.
  4. The next step is to try & match the above to a portfolio of investments ‘carefully’ selected to match both the ‘risk profile of the client’ & the ‘current market expectations’
  5. Having decided on the asset allocation for your portfolio we will then have a detailed look at the investments you’ve chosen to give you the best opportunity to produce returns required for you

This process is followed for all ‘new clients’ & during client’s quarterly reviews!

Undergoing this process regularly has highlighted the following to us as a company;

  1. Clients opinions will change, therefore working with them & making sure they feel comfortable with the investments is imperative
  2. There is a time for the cautious investor to invest more speculatively & for the speculative investor to invest more cautiously
  3. You don’t have to make all your growth at once, many variables should be taken into account before making your decisions

If you would like to speak to someone about the Reeves Independent Portfolio Management Service please contact us NOW for  FREE initial chat  on 0191 281 9862 or e-mail your enquiry to info@reevesifa.com