Client Administration schedule
During the Year
Throughout the year we update your records and advise you about changes to cover and costs. On occasion the law changes which may alter aspects of your financial planning and where relevant we will keep you informed about this via our Talking Money Magazine and other media.
Portfolio valuations (which exclude your personal bank accounts and cash deposit accounts) are provided to you in accordance with your selected service level. We can only include financial arrangements where we have authority to do so. Please remember to keep us up to date with changes in your circumstances such as your contact details (email/mobile), employment details and changes in your personal life (marriage/children).
We will issue an expenses form for you to update, so that we are clear about your planned budget for the New Year, upon receipt and assessment we will issue a personal Financial Position Statement.
Clients with investments will be issued with an investment risk questionnaire, upon receipt of this from you we will reassess your investments and advise about changes that need to be made to ensure that your portfolio is appropriate for your attitude towards risk.
Reminders issued advising of the end of the tax year – relevant to ISAs, Pensions, Giving, Capital Gains Tax and general tax planning. Talking Money magazine for March/April issued.
We will send a reminder about the new tax year and adjustments that may need to be made to related financial planning. Investment companies will issue valuations of ISAs.
We will request a copy of your proofs of income for the tax year that has just ended. P60’s must be issued in May and we need a copy of this, plus any P11D statements. This will enable us to provide you with a personal estimated Income Tax & NI report that will assist you in preparation of your tax return. Talking Money magazine for May/June issued.
Income Protection Plan reviews issued – analysis of existing cover against reported income where appropriate.
Checks made for accurate proof of Identity & residency. Life assurance policies reviewed against current cost for comparisons and possible reduction.
Clients with pensions will be issued with a pension risk questionnaire, upon receipt of this from you we will reassess your investments and advise about changes that need to be made to ensure that your portfolio is appropriate for your attitude towards risk.
State pension forecast requests issued to all under-65s for completion and return. Talking Money magazine for September/October issued.
Occupational Pension Scheme update and funding statements requested. Investment companies will issue half-year ISA valuations. National “Make a Will Week”.
Next years Terms of Business and Fee Menu will be issued to you together with an invoice for the full calendar year (January – December). Talking Money magazine for November/ December issued.
Portfolio rebalancing for relevant clients (Skandia and SIS). Fund switching is conducted throughout the year as we believe appropriate, but will only be implemented with your prior consent