"I have known David Henderson for seven years and during that time, he has had full control of my financial investment portfolio through retirement and the consequences of adjustment to widowhood. I have never had any cause to doubt his skilled advice and commitment. This has been delivered through a friendly and totally reliable relationship. I have regarded him as a trustworthy friend and in terms of the financial manoeuvres, his practical adjustments have (thus far in a volatile world!) all been safe and successful. He has been helpfully reassuring at times based on an extensive knowledge of theway the markets and global economy works I find this very educational. I have recommended his services to several friends all of whom have commented most favourably after his input totheir finances."
Saving is undoubtedly a good habit to nurture. But Savings and Investment products are distinct, and it is important to distinguish between the two offerings.
Savings
These products usually provide for a specific short-term need or purchase, like a holiday or a new car, and are generally funds that you can set aside today but that you have immediately accessible – if the need arises.The most common savings vehicle is a bank account of one kind or another. In an emergency, you can immediately withdraw some or all of the money you’ve deposited – £1 back for every £1 you’ve put in, (and possibly some interest on top).
Bank Accounts
Current accounts may offer a very low rate of interest (if any), but they are the most flexible in terms of accessing your money. Banks also offer savings accounts, offering a higher rate of interest, and also notice accounts, which have more competitive interest rates, but as the name implies, you have to give a certain amount of notice before making a withdrawal (perhaps up to 60 or 90 days); or invest the money for a set minimum period of time.
New Individual Savings Account - NISA is a tax-efficient product through which you may invest up to £20,000 cash annually, and some providers offer instant access to a Cash ISA without penalty.
Investments
Investments are designed to be held for a longer period of time, usually at least 5 years. So you should not consider investments until you already have some savings in place. Most investments offer the prospect of a potentially higher return than deposit accounts, but there are no guarantees, and you should be comfortable tying up your capital for a longer period of time.
Contact us before making any decisions. We will always explain the risk of any potential investment in detail.
-
We have the benefit of many years spent advising doctors and dentists and guiding them through financial planning for protecting the family, savings and investing for the future, retirement, and the complex tax issues that can arise. -
There are many different ‘tools’ that help you save for retirement, and the taxation and investment elements of each can appear baffling. We explain, recommend and monitor pension products for you, putting you in control of the choices that will achieve your goals. -
Our mission is to use our knowledge and skills to provide unbiased financial advice, so that you can face the future with increased confidence regarding your financial position today, and the financial security of your family in future. -
Every investment carries some element of risk, which is why we reflect risk management in the financial planning we provide for clients. We work with you so that you are financially well organised, aware of your current and likely future financial position, and therefore remain in control of the choices you make. -
Buying a property can be stressful and time consuming at the best of times, and for some borrowers finding and selecting the most suitable mortgage for them can be a contributory factor. Working with us means that you’ll benefit from informed advice from the outset, backed by up-to-date financial intelligence, and years of practical experience.
