Solomons Archives - Financial Planning in Surrey

How can I tell if I’m being ‘scammed’?

Debbie Harris
Aug 2025 • 2 min read

How can I tell if I’m being ‘scammed’?

The very short answer to this question is that sometimes ‘you can’t’

Not very reassuring is it?

Scams (and fraud attempts) are now so sophisticated and ‘believable’ that it is often impossible to tell from first glance whether something is genuine or not – whether it’s an email, a text message, a phone call, a private message on an app. In just the last few months I can think of a scarily large number of occasions when I have had to channel my inner Sherlock – a flavour of the wide-ranging nature of some of these:

~ a client received a text message querying a transaction we were organising for him … my antennae tingled. We worked fast and contacted the client using all methods available to us … he was grateful for our vigilance on his behalf, and I am very relieved to report that fortunately the message was authentic, but it was jolly stressful at the time for all concerned

~ my credit card provider texted me to ask whether I had authorised a £3,000+ payment to an overseas firm (I had not) – so I immediately got on the phone to them and I am glad to report that MBNA’s fraud department was excellent and resolved very quickly (all whilst I was on the phone to them) – card cancelled and all recent transactions checked thoroughly

~ a client called to express concern about a telephone call she had received from ‘her Bank’ regarding a transfer of funds (fortunately this was legitimate as well, but the client was very upset because as soon as she had done what she was asked to do, she thought she had fallen for a scam). We were able to reassure her and to let her know what steps she needed to take to ensure her funds were ’safe’

~ a relative of mine purchased something via Shopify which turned out to be a scam – as soon as he realised this, he reached out to Shopify who were hopeless, but his bank applied for a ‘clawback’ to return his money

~ a client had her HMRC government gateway account hacked – this is a slightly different type of case, but a fraud attempt nonetheless. No money was lost thankfully on this occasion, but she did have to set up a new government gateway account (which as you may be aware – is something of a headache!)

So what are our ‘top tips’ for spotting/avoiding scams and fraud:

BEFORE THE FACT – ACT SLOWLY (take your time to ensure that any messages you receive are authentic – make your default position “any unsolicited message should not be trusted”!
AFTER THE FACT – ACT QUICKLY (this is key – sometimes if you are quick enough, you can stop the scam/fraud before you have lost any money)

There are a myriad of other ways to protect yourself from scams/fraud and you can get some great advice here https://www.actionfraud.police.uk/

If you are ever in doubt – PLEASE check in with us – we will do whatever we can to help.

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How can I tell if I’m being ‘scammed’?Jemima Thomas2025-09-02T13:48:36+01:00

What month would you be in if life were a year?

Dominic Thomas
Aug 2025 • 3 min read

What month would you be in if life were a year?

One of the most difficult aspects of my work is approaching the subject of death. We covered some practical elements of this in our last edition of Spotlight (Spring 2025). It’s a very difficult topic, one of the last taboos. Most of us would prefer to avoid the discussion, in fact I have even met a couple of people who told me not to talk about it because it would hasten their death, which is one of the more strange responses I have had.

Most of us grow up with the expectation that life will be long, we will reach old age and have a lengthy, good retirement. We all come to experience loss; some of us at a very early age. We are often shocked by the news of someone young, or relatively young who has died. It feels as though their lives have been cut short.

The purpose of raising the subject is not to be the voice of doom, but to enable you to really do two things. Firstly, prepare for your death, which means getting your legal documents in place and ensuring that your beneficiaries are properly taken care of. Secondly, it is a reminder that life is brief, none of us know when it is our time, so we ought to be attempting to live a full life, one that doesn’t have too much deferred into the future, but feels very fulfilling here and now in the present.

You may have seen all sorts of data showing the average life expectancy of a man or woman in the UK. There is even a “death clock” which takes your age now and calculates the expected day of your death based on your health, outlook and country of residence. This of course is an informed guess based on international averages. The reality is that if you have a financial planner, you have money. And if you have money, you probably have the ability to access better healthcare and make better dietary/fitness choices. You probably (not necessarily) have a lower level of stress. As a result, you are likely to outlive the average.

However, most of us rarely think about this and go about our lives with the expectation of a fairly long and healthy future ahead of us still. We tend to think life will stretch out ahead of us, there will be ample time. However, if life was a calendar year, I wonder what month you would be in?

If we were to consider each month representing eight years of our lifetime, then life expectancy would be 96. Turning 56 means it’s July with the expectation of a few summer months. At 72 you have reached October. I wonder if thinking about life this way might encourage us to take each day a little more thankfully – and thoughtfully. The average person would have each month represent seven years, so at 56 it’s August already.

It’s a bit alarming and perhaps morbid, but surely an important reminder that life is very brief indeed. We don’t know what the future holds, but ask yourself, do you really want to be spending a significant proportion of it worrying about money or attempting to manage it? Ultimately, that is the point of delegating your financial planning to us, so that you can go and do the important things that you value most.

Sadly, I regularly meet people with diagnosed conditions that shorten their lives; and whilst we all know that money cannot buy time, actually you can create more time to do the things that you value because of the backdrop of a great financial plan based on what’s important to you. It is never about you spending valuable time managing your own investments.

References:

Death Clock: https://www.death-clock.org/

ONS mortality tables: https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/deaths

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What month would you be in if life were a year?Jemima Thomas2025-08-21T15:39:46+01:00

Why verify my identity when I want my money?

Dominic Thomas
Aug 2025 • 1 min read

Why verify my identity when I want my money?

Scams do not really rely on amazing technology; they rely on human behaviour. Most scams are confidence tricks, luring someone into a false sense of security. This is invariably pretending to be something or someone that they are not.

When you ask to withdraw money from your investment or pension, this is something that we really should know about in advance – after all it should be an expected and planned withdrawal. However, life doesn’t always go to plan and sometimes we find ourselves doing things we didn’t expect – a decision to spend a significant sum on a lovely motor car, moving house and wanting a new kitchen quickly or an emergency of some sort.

We will call you to clarify a few details, things that others would not know. We attempt to do our best to ensure that you are not under duress, from a criminal or indeed a friend or family member who may be coercing you into giving them money.

It may feel impertinent of us, but I can assure you that this is not the intention, but simply to safely protect you from fraud. We are, in many respects, your last line of defence.

Emotionally charged calls or conversations are not always all that they appear to be. Have a look at this video showing how a scammer uses the “stress and distraction” of a baby whilst sounding very warm and genuine at the same time. However, this is all made rather easy due to the technology now widely available. This doesn’t even begin to address the issue of AI where it is relatively easy to mimic you or your loved ones in both voice and appearance.

The answer, sadly, is that we might need you to provide a safe word or phrase.

https://www.instagram.com/reel/DKrTuv0CicF/?utm_source=ig_web_copy_link

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Why verify my identity when I want my money?Jemima Thomas2025-08-08T16:23:49+01:00

Setting Sail for (un)Chartered Territory

Daniel Liddicott
June 2025 • 2 min read

Setting Sail for (un) Chartered Territory

Throughout my time at Solomon’s, learning has been one of my primary objectives. When first starting on the journey of becoming an adviser (which now feels like a lifetime ago) this was, of course, an absolute necessity. To ‘learn the ropes’, so to speak.

“Learning the ropes” is a phrase that has its origin in sailing. Each sail has its own set of lines (or “ropes”) and knowing which rope did what was crucial for managing the ship effectively. Sailors had to know this to perform their duties successfully, becoming familiar with the vast and complex network of rigging used to control the ship.

We often talk about having “different levers to pull” when considering your financial plans and the best options available to you. Taking pension income as an example, pulling one lever i.e., taking income by one method can have a vastly different outcome from using another method. We help you navigate your way through the complexities of income tax laws to help to keep your financial plan on course.

Anyway, I digress…

Advisers are always learning. Not least due to the many alterations to regulations and tax law that seem to occur with each passing Budget, but also to continually improve and build upon our knowledge. I have now begun a new journey – the journey to become a Chartered Financial Planner.

This, as before, entails a whole new set of exams and accompanying textbooks that would be fit to anchor the Icon of the Seas cruise ship (no sails on that one!). As you might expect, the process is not a quick one. I am anticipating the exams taking two years to complete at a minimum.

Fortunately, my thirst for knowledge has not waned and embarking on this voyage has been something that I have been keen to do since originally qualifying as an adviser. Some would say that I am a glutton for punishment but, thankfully, the thirst for knowledge appears to be a common trait amongst the wider adviser crew.

No more ships or sailing puns, I promise!

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Setting Sail for (un)Chartered TerritoryJemima Thomas2025-06-26T09:46:58+01:00

Worrying about money?

Dominic Thomas
March 2025 • 2 min read

Worrying about money?

Admittedly, all of us respond differently to pressure and some of us (if not all of us) create our own. I say this as a slight caveat to the statement I will now make. More than half of those aged over 55 are worried that they will run out of money.

This is the finding of research conducted by Oxford Risk, a rather bright bunch that offer services for modelling, measuring, managing and explaining risk to you our clients. As ever, the sample size of the survey wasn’t vast at just a touch over 1,000 people (all over the age of 55). Only 27% of them were not worried about running out of money in retirement.

It won’t please Gen X, Z or Y that around 12% are worried that they will likely be dependent on their children for financial support in their retirement, which when some reports laud the age of an enormous wealth transfer, clearly this will not be everyone’s experience and I suspect the hoped-for inheritance to finally enable joining the property market may be short-lived. It won’t help if your estate suffers a lot of inheritance tax.

Of course, some of this may be merely a reflection of the current cost of living crisis and inflation which at checkouts and cash registers seems to stubbornly ignore ONS official data. It may have something to do with a growing awareness of the exorbitant cost of care or maybe the apparent fragility of the state of the world.

I would love to be able to tell you that we can provide complete reassurance about the future, but it is of course unknown. What we can do is work with your real spending patterns and plans in conjunction with your existing resources and create a plan to avoid running out of money. This relies on regular reviews and sense-checking of our assumptions and your objectives. The intention is obviously to empower you to make informed decisions and have a high degree of confidence about the future, but no one can actually guarantee this, despite what they may be willing to tell you.

We aren’t afraid to wrestle with reality and construct a viable, sustainable plan for your future that will deliver successful outcomes, albeit within the context of a changing and imperfect world.

You don’t need to be worrying, we have a plan that will alleviate this, this is what we do and have done with great success.

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Worrying about money?Jemima Thomas2025-03-21T15:43:07+00:00

Ready for new peaks

Matt Loadwick
Oct 2024 • 2 min read

Ready for new peaks

Joining a new business is always a significant life change; filled with anticipation and, of course, some anxiety. Having joined Solomon’s as a trainee financial planner, I’m looking to follow the path which Dan has successfully navigated, in switching professions for a career in financial planning.

A geography graduate from Newcastle University, my career to date has seen me specialise in transport and development planning, through which I sought to satisfy an innate desire to improve society; in this case by helping to make places and spaces better for the people who use them.

Undertaking what is a fairly sharp turn in my career, it would be fair to say that the levels of excitement, anticipation, and yes, anxiety, were amplified. However, my experience so far has been fantastic, thanks to the warm welcome I have received and the generous support provided daily by each of my new colleagues. From day one, the team at Solomon’s has ensured that I am integrated into the company culture; encouraging me to share my insights in team meetings, whilst always being there to help with any questions, of which there have been many at this stage!

A little about me; a proud northerner and good listener who likes to connect with people, my motivation for starting a new career in the financial services industry stems from seeking opportunity to make better use of my people skills; to help individuals realise their life goals through financial guidance, and to further increase my breadth of knowledge – all things I am really looking forward to.

I was born and raised in Poynton, a small town located just outside of Manchester, on the edge of the Peak District National Park. Growing up there inspired my love of hiking and cycling in the countryside; undoubtedly had some influence over my love of alternative rock and indie music (for which Manchester is a real wellspring); and is also reflected in my favourite sports teams – Sale Sharks RUFC, Stockport County and Manchester City (before the oil money made them “everyone’s favourite team to hate”).

Since joining the firm, I’ve had the chance to see first-hand the positive impact that good financial advice can have on the lives of our clients at a variety of key life stages. The initial learning curve has been steep, but rewarding, as I do my best to soak in as much as possible from the incredibly knowledgeable team here. It’s a process I’m thoroughly enjoying. I’m eager to build my knowledge and skills further to grow within this fantastic team, and ultimately contribute to helping our clients achieve their life goals.

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Ready for new peaksJemima Thomas2024-10-25T11:50:16+01:00

What do you need from us?

Debbie Harris
July 2024 • 3 min read

What do you need from us?

I had a really interesting email conversation with a client today following their recent annual review meeting with one of our advisers here at Solomon’s. I asked him some questions and encouraged him to give his opinions about our process and it was very helpful feedback indeed.

We have been working to improve our review process and will likely be implementing some changes in the coming months. As I said to him; we want this to be client-led and frankly we only want to introduce new things if you (our clients) want/need them!

So I would encourage you to tell us –

~ do you like the fact that each annual review looks and feels the same in terms of structure and content?

~ would you like them to feel different each time (perhaps focussing on different / specific things)?

~ do you like the presentation you receive?

~ would you prefer to have more contact with us before the meeting so that we can update your figures and give you an opportunity to help us formulate the agenda based on your priorities and concerns?

~ do you wish the meetings were shorter? Longer? More frequent?

~ would you like the meetings to feel less structured or do you like that there is a clear plan of action in terms of what is covered?

We absolutely want to hear from you – it’s important that we know what YOU would like those meetings to look like; so that we can do better …

Why are review meetings so important?

In the realm of financial planning, review meetings serve as pivotal moments where financial advisers have the opportunity to understand client needs and develop meaningful relationships. Our clients come with a variety of expectations, and we try and meet these effectively.

Research indicates that people primarily seek advisers who are knowledgeable, trustworthy, and good listeners (what I would call ‘no-brainers’). Digging a little deeper however reveals that clients also look for personalised advice that caters to their unique financial situation. They want the usual discussions around retirement and investments; but also they are looking to enhance their own financial literacy and develop good habits.

The evolving landscape of client-adviser interactions suggests a shift towards more holistic financial planning – which is what we have been offering for many years. This includes discussions on later life care, health, housing, and other aspects of life that directly impact your ‘financial wellbeing’.

People want a financial adviser who not only provides expert financial guidance but also takes the time to understand and incorporate personal values and life goals into the financial planning process. For the team here at Solomon’s … we want to exceed your expectations on this – leading to better and more meaningful relationships with you.

So we urge you … please let us know your answer to the question “what do you need from us?” (or – if it’s easier … “what DON’T you need from us?”)

What do you need from us?

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What do you need from us?Jemima Thomas2025-01-28T10:02:33+00:00

New client surge?

Dominic Thomas
June 2024 • 3 min read

New client surge?

We are expecting and ready to meet with lots of new clients. Our premises in Cobham are perfect for quiet, confidential and tranquil client meetings. There is ample parking and decent coffee!

This is perhaps just as well since a recent report by Investec Wealth has revealed that nearly 60% of investors are looking to get advice. This is for a variety of reasons, but nearly 30% are expecting to do so within the next 12 months and a significant proportion have over £250,000 of investments.

By and large, most are seeking advice about retirement, but a not-so-insignificant 20% reported that they simply don’t have time to manage their own investments. Whilst I welcome the opportunity to meet with them, I fear that many will be expecting to find a magician rather than a financial adviser as they may have left good planning somewhat late in the day.

Of late, I have growing experience and awareness of the problems that many face as they age. Memory isn’t quite what it was and we are seeing more people with concerns about Alzheimer’s. Many of us will have some experience of this already and sadly many will do so in the future. There are considerable issues for your finances and ensuring that you have your ‘ducks in a row’ is of key importance. As is having the right team around you; providing what you need.

As we age, we invariably become increasingly aware of the importance of relationships, much more so than anything else; but these are loaded with a lifetime of baggage. Spending time on the things that are important (what you actually want and value) rather than attempting to impress people with your brilliance at managing your own money; is something that I would actively encourage. Managing investments, tax and regulations is a time-consuming exercise and not one that most people would want to waste their most valuable resource on (time). I suspect and believe that you have better things to do with yours.

We are here, ready to begin your journey with us and towards financial freedom – or maintaining it.

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New client surge?Jemima Thomas2025-01-27T15:37:51+00:00

Environment on the human psyche

Sam Harris
March 2023 • 5 min read

The effect of environment on the human psyche

It’s a cold story. The tale of a perilous journey across an apocalyptic wasteland. Crumbling buildings, nefarious outlaws and unearthly creatures that lurk in the dark, once human, but not anymore. This is the premise of The Last of Us. An episodic series based on the video game of the same name. To say I’m invested would probably be somewhat of an understatement. Pedro Pascal is exceptional in his portrayal of Joel, the lead character. Though much like the original game a decade ago, what has truly blown me away is the atmosphere. Surreal backdrops, from spectral city silhouettes to the crepuscular ruins of abandoned structures. The show’s aura is all encompassing, the attention to detail pays off and hooks you in with a supreme level of immersion. Which brings me to the main subject of this blog post, how your surroundings and environment can affect your emotions and state of mind.

Do you ever get that giddy feeling when it snows? For me, it doesn’t even need to settle to put a smile on my face. Yet when it does, the landscape totally changes. It feels like a different world. An undeniable scene of natural beauty. Streets and rooftops covered in blankets of white, the roads are quiet. A picture of serenity. It takes you back to the halcyon days of childhood: snowball fights, snow angels and the unmistakable crunch of the first steps across virgin snowfall. My immediate surroundings invariably have some degree of influence on how I think and feel. To me, this is what makes one’s environment so important. Even when it comes to money. Especially when it comes to financial planning.

This is one of the many reasons why at Solomon’s we feel it’s so crucial to develop personal, lasting relationships with our clients. To provide you with that confidence and level of trust which, let’s face it, is an absolute requirement in the financial industry. Furthermore, we endeavor to utilize user- friendly tools and services that present and collect information with utmost clarity and efficiency. Ultimately, isn’t that why people seek financial advice? To reduce uncertainty and stress. Finding yourself in an unpleasant environment can cause doubt and turmoil. Let us walk through the snow together

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Environment on the human psycheJemima Thomas2023-12-01T12:12:36+00:00

Merry Christmas from the Solomon’s team

Jemima Thomas
Dec 2022 • 1 min read

Merry Christmas from the Solomon’s team

We hope you have a very merry Christmas, and are able to really take time to stop and relax. This year has been filled with the never-ending chaos that the world continues to throw at us all, so here’s hoping that 2023 is full of light and hope.

We are all now on our Christmas break and Solomon’s will be closed from lunchtime on Friday 23rd December. If your query is of an urgent nature, please call the office on 020 8542 8084 and leave a voicemail for us (these will be monitored during the festive break). We re-open on Tuesday 3rd January 2023.

From Left to Right: Sam, Dan, Dominic, Debbie, Jemima and Abigail.

Once again, from all the Team at Solomon’s – we wish you a very Merry Christmas and a Happy New Year!

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

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Merry Christmas from the Solomon’s teamJemima Thomas2023-12-01T12:12:39+00:00

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