Areas of Advice

At Baker Davies we believe fundamentally in holistic financial planning.

This means working with and alongside our clients to work out their needs, objectives and future plans.

We then work to create an overall strategy designed specifically to try to meet those aims and objectives over the years to come.

Personal financial planning is exactly that - it is personal and any planning must take account of a variety of clients who each have their own likes and dislikes; their risk profile, timescales, family influences and many other contributing factors.

As fully independent advisers we create financial plans and are able to access and use products, funds and services we feel most appropriate to our given client from the whole market place.

We have the latest computer backed technology to assist us in analysing and researching the enormous array of products and investments available.

Our strategies for our clients may well therefore use products and funds from a wide range of financial planning areas such as pensions, savings and protection.

How do we select investments?

Below we detail some of these areas we may utilise.


Areas of advice for individuals

Product types:

Collective Investments

Unit trust OEICS (Open Ended Investment Company) ICVC (Investment Company
with Variable Capital) and Investment Trusts
Individual Savings Accounts (ISAs)
Onshore and Offshore Investment Bonds - a life assurance policy with different
tax treatment
AIM investments (Alternative Investment Market - with specific tax advantages)
EIS investments (Enterprise Investment Scheme - also has specific tax advantages)
National Savings
Endowments and regular savings plans
Children's savings plans
Long term care planning, (may include Impaired Life Annuities - to purchase an income
to pay for care, re-structuring investments and/or releasing equity)
Equity release
Mortgage advice

Family Income Benefit - pays a regular income in the event of death of the policy-holder
Life insurance (Fixed Term and Whole of Life)
Critical Illness Insurance
Income protection
Medical and Dental Insurance
Mortgage protection and ASU ( accident sickness unemployment cover)

Personal Pensions

Stakeholder Pension
SIPP - Self Invested Personal Pension (provides greater flexibility over investment choice)
Section 32 plan (for preserved pension benefits transferred from a company scheme)
Section 226 retirement annuity contract (RAC - old style pension with different funding
and tax free cash rules)
FSAVC (Free standing additional voluntary contributions)

Taking pension benefits
Annuity (provides income in regular payments for the lifetime of the policy-holder)
Income Drawdown (facility to allow people to take an income from their pension
savings while leaving it invested in the stock market rather than buy an annuity)
Third way products (combines the features of an annuity and drawdown)
ASP - Alternatively Secured Pension (for people aged 77 and over who don't want to
take an annuity with their pension fund)

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Areas of advice for
companies or directors

SSAS and Group SSAS - Small Self Administered
Pension Scheme (can provide very tax efficient
planning for controlling directors)
Occupational Pension Schemes - set up by
employers under different rules to personal
Group Personal Pensions - group of personal
pensions for employees
Group Stakeholder Pensions - like a personal
pension except the charges are capped and they
often have a limited range of funds
Group SIPP - a number of SIPPs linked together
by way of employment

Business protection
Key Person Protection - allows a business to
protect itself against the financial loss it may
suffer from losing a key employee due to death,
critical illness or disability.
Insurance to cover loans, overdrafts and
other liabilities
Shareholder Protection - to enable business
owners to buy out shares of deceased or critically
ill co-directors

Employee benefits
Group Life Cover
Group Income Protection
Group Critical Illness
Medical and Dental Insurance
AVC - Additional Voluntary Contribution

Hierachy of Financial Needs

Click here to enlarge