Up until now our services have been catered to a very specific group of clients, and word of mouth has been enough to grow the business. The inevitable next step for us was to develop our online presence, and provide a one stop shop to find out everything you need to know before approaching us as Financial Life Planners.
Welcome to Suitable Life online – www.suitablelife.co.uk
We shaped our service around two processes; upfront and ongoing. The initial 3-stage planning process takes you through all three of the ‘Suitable’ brands, followed by an ongoing service that repeats elements of this process, forward planning each element year-on-year to ensure that the plan is updated and revised to reflect changing needs as your life is never static.
You’ll find information about Suitable Life here on the website, as well as information you need for Suitable Estate, Suitable FinLife and Suitable Wealth. But who are we and what do we do?
I’ll break it down for you.
Our upfront 3-stage planning process – Suitable Life Planning:
Armed with your vision of the future – the lifestyle you have today & want tomorrow, your view of legacy and what life stages, events & transitions are still to come in your life – we will work with you to create a fully accurate picture of your current and future income and expenditure, without judgement. Coupled with your current and future assets and liabilities. We will produce your FinLife Plan and present it to you interactively, showing you the impact of events occurring at different points of your life.
The goal is ultimately to ensure you know how much money you really need for the rest of your life, without the fear of ever running out.
Once you have greater awareness of the life you want, clarity on how much you need & what you have, you’ll be able to make better choices and ultimately live a more satisfying & suitable life.
This is the FCA regulated element of the process. You can rest assured that we will only give regulated financial advice and recommend a financial product where it is absolutely necessary to achieve your goals. We understand that financial products are not the be all and end all of financial planning and are not in the business of selling or setting up products for the sake of commission or deliberately over/under estimating your needs to suit us.
After clarifying your Attitude to Risk, just as importantly your need to take risk and Capacity for loss, we will be in a position to provide advice on investments, tax efficient wrappers (e.g. Pensions & ISAs), asset allocation and other financial products such as protection and mortgages.
Suitable Wealth are a SIPP & SSAS pensions specialist, working in a fully compliant way to current pensions legislation and ensuring that you the client take no unnecessary risks with your pension assets.
As our remuneration is not coupled to the amount of assets that we manage for you, you can be rest assured that our advice is completely impartial and has you & your family and your WHOLE financial life at the heart of it. You can walk away confident that you’ve made great decisions that will carry benefits that last a lifetime.
90% of adults in the UK do not have Lasting Powers of Attorney in place, despite the fact that they play such a crucial role in people’s hour of need when they may temporarily or permanently lose mental capacity. Many view them as only being relevant for those in later life (if you can define what “later life” even means) and we often hear comments of “I don’t need an LPA at my age” or “There’s no risk of my getting dementia yet” (potentially not true unfortunately).
It may not be easy to think about planning for your own death, but it is an integral part of your overall life plan as the assets you have worked so hard to accumulate over your life will go somewhere, so you need to ensure that somewhere is where you wanted it to be (& for them to remain there). It is estimated that nearly 70% of adults in the UK do not have any Will in place. If you’re one of the 30%, we often find that the Will was put in place many years ago when children were first born and is often a basic mirror Will. That may have been OK for your circumstances at the time, but we generally find it is not suitable for your current circumstances.
We will review any existing arrangements you have in place to see if they’re still fit for purpose. The Wills we write for you include all of the necessary Trust and Bloodline Planning to protect you from the 5 potential threats to your Estate.
Now that we’ve gone through the initial 3 stages, we will have a pretty good understanding of who you are and what’s important to you. Now we move onto an even more crucial ongoing process.
Your life plan, much like your actual life, is an evolving picture and we’ll forward plan it with you every year to make sure you have no unexpected surprises later. Welcome to financial life management.
As well as continually repeating steps 2 and 3 of the planning phase, we need to introduce some lifetime planning. This is where you will start to define what legacy means to you, learn more about mitigating future Inheritance Tax (IHT) issues, and the importance of Inter-Generational Wealth Transfers, gifting and your digital legacy. Basically the nitty gritty of making sure you’re only paying out what you should be.
Resolving IHT issues and ensuring a smooth transition of wealth through the generations can often be a lifetimes work as there is no silver bullet.
Of course, this is just a high-level summary of the different stages, and more information can be found throughout our website. We’re firm believers that the best way to find out how this can work for you is to get in touch. You will find an interactive calendar on the main page of our website which will show you our availability – feel free to find a time that works for both of us and get yourself a place in our diary, or complete the web friendly form to ask for more information.
In order to provide the best possible level of service we do have a maximum capacity of clients. Regardless of this, we’d love to find out more about you and we can explain at that stage if we’re ready to help right now or if there’s a small wait.