Our Process
Meeting You
We’ll meet with you virtually or at our office in Glasgow. During the course of this initial meeting you’ll find out how our financial advisers work and explore what they will be doing for you. It’s necessary for the adviser to take proof of identity and proof of address at this stage. You will be left a copy of the Client Agreement and the Service Proposition & Engagement documentation to read through at your leisure.
Fact Finding
During the course of our initial meeting or at the second meeting we will carry out a fact-finding exercise with you to establish your needs and wants. We’ll take heed of any specific requests you have and endeavour to fulfil them where possible. We may have to obtain your permission to contact pension providers or other financial institutions for more information about specific plans.
Doing Our Research
We carry out detailed research in order to establish which providers best suit your needs. This may be for investments, trusts, pensions, or protection policies. Providers have varying ranges of products, differing in their length and cost, and are used for clients with different needs. In some instances we will use an independent research company to ensure the most suitable plan is chosen for you.
Advice Plan
We will then formulate an advice plan that includes any needs that have been identified as well as any specific wishes of the client. Where necessary this will include advising you to consult another specialist (e.g. for wills or power of attorney). Our advice to you is written in the form of a “Suitability Report” that will be sent to you via post and another meeting will be arranged. Up to this point you will have incurred no cost.
Presentation
A further meeting will take place to present the advice contained within the Suitability Report. If you’re happy with the advice then the Client Agreement and the Service Proposition & Agreement documents will be signed. Any application forms required will be completed at this point, along with any additional information required by the providers.
Completion
The application forms and/or Trust forms will be sent off to the providers and all necessary administration work will be carried out in our office. When plans have been completed you will be contacted by us to ensure that all necessary confirmation or policy documents have been received from the provider companies.
Annual Review
We’ll carry out an annual review for you, unless you have specifically requested a ‘transaction only’ arrangement. You may have to be contacted more than once a year because of changes to personal circumstances, changes to legislation or market conditions. The details of the annual review are contained within the Service Proposition & Engagement documentation.
Our Services
Investment Advice
Ensuring adequate money is available for immediate daily needs as well as a reserve being set in place are just a couple of fundamental principles that are prerequisites to investing any sum of money.Investment.
Long Term Care Investment Advice
Arranging care for yourself or a member of your family can be a complicated process as well as being very emotional. There’s a lot to consider, and the process can feel overwhelming if you don’t have the right assistance to find the best possible care for you or your loved one.
Pension Planning
Vance Financial Management offer an extensive range of advice with pension planning depending on when you start your plan.
Retirement Planning
At Retirement, the advice needed is essential as the options available are wide and varied. Many of which are irreversible once selected, such as signing up to an annuity
Personal Life Insurance
Life Insurance provides you financial peace of mind insuring you and/or your family are protected in a range of circumstances including ill health, critical illness and death.
Critical Illness Cover
Could you and your family cope financially if you were not become critically ill and could not work? It’s not a nice question to consider, but it’s an important consideration. If you think you and your loved ones would struggle to pay the mortgage or meet the cost of other household bills, you should consider critical illness insurance.
Business Insurance
It’s important for businesses to insure their company’s property, equipment and fixed assets. However, it is far too common for businesses to overlook the people who drive the business. Many businesses fail to recognise the potential impact the death of a key employee, shareholder, or partner could have on the financial security of the business, not to mention on their surviving family.
Inheritance Tax
The current allowance whereby no inheritance tax is charged is on the first £325,000 (per person) of someone’s estate – which is the value of their total assets they leave behind when they die.
There are a number of ways in which you can avoid a high inheritance tax…
Trusts
Do you need assistance managing your money so it can be used to help someone after you die or to contribute towards your care in later life? A trust is a great way to do this.
