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Financial Planning

Kirk Rice Model Portfolio Programme

Keeping on top of your pensions, savings and investments is a full-time job. It requires regular reviews and realignment of your investment portfolio to suit life’s changing needs.

Using Kirk Rice’s investment specialists means that your money is always actively managed. We get your assets working hard for you, while making sure that your attitude to risk is met at all times. Only through extensive research can the most suitable mix of assets and investment products be found. And all of these things play a significant role in meeting your investment goals.

How do we manage your money?

Our advisers will work with you to establish your attitude to risk in relation to our risk scale of 1-10 (10 being high). As part of this process you will complete our risk profile questionnaire. We will then have a detailed conversation about the results before agreeing the risk score that is appropriate to you.

If we establish that your risk score is three or less (quite cautious or low risk) we will typically recommend that you invest in products that have some element of capital protection and/or income guarantee. As such, our model portfolios would not be appropriate. A Kirk Rice model portfolio is suitable for investors who risk score four through to 10. Having established and agreed your risk score we will then invest in the corresponding model portfolio.

Your risk score may vary for differing investment objectives. For example, if you are investing for the long-term (like retirement) you may be prepared to adopt a higher risk. But if you have a shorter-term objective (such as saving for school fees) then a lower risk may be more appropriate.

Your tolerance to risk will likely change both over the course of your life and to meet specific circumstantial needs. As you near retirement, protecting your capital in the short-term may be a higher priority, for example. So at any time you can decrease or indeed increase your risk rating and your portfolio will be realigned accordingly.

Through Kirk Rice, you get access to the whole range of savings and investments vehicles and we will advise accordingly. These include all types of pension and tax-efficient savings products (such as ISAs and investment bonds).

How often do you receive investment reviews?

We review our model portfolios every six months (in January and July). Following each review you will receive an email which will clearly:

  • Summarise the performance of your selected model portfolio/s
  • Summarise the proposed changes
  • Provide a link to a detailed portfolio report, portfolio update report and rationale for our recommendations
  • Ask for your permission to make any recommended changes

Each review includes a realignment of your investments where necessary. Also, Kirk Rice’s Investment Committee are regularly meeting fund managers, and attending webinars and seminars to keep up to date with fund managers’ views. All of this is taken into consideration at our six-monthly reviews.

We don’t make any changes to your investments without your consent. And we’ll provide all the information you’ll need – including the rationale for changes and in depth analysis – to enable you to give us the go-ahead.
Occasionally a situation may occur that warrants a change outside the normal review period. An example could be the unexpected departure of a fund manager. In this case, we would get in touch during the interim period with our recommendation. (Any recommended switching between funds is free of charge.)
On top of this twice-yearly review you will also have a review meeting with your adviser. This will typically be annually, but can be tailored to your requirements. This provides you with the chance to discuss your portfolio face to face and to review your objectives and progress to date.

How do we decide on your mix of investment assets?

We help you make investment decisions by looking at both long and short-term opportunities and risks. Firstly, we use the expert analysis of global financial management firm Towers Watson to assist us with asset allocation. This helps us to decide the right long-term (10-year) mix of assets for each of our portfolios.

While most investments are allocated with a medium to long-term time horizon in mind, the market inevitably creates shorter-term opportunities and risks. So we balance this analysis with the Market Sentiment information, which is provided to us by a number of fund management groups. Market Sentiment offers fund manager views of the expected performance (positive or negative) of different asset types over a shorter time frame of six to 18 months.

Capital gains tax planning on your investments

The capital gains tax allowance is a much under-utilised allowance that can help minimise the tax you pay on your investments. It effectively provides investors with an opportunity. And seeing as we will likely recommend investments that are subject to capital gains tax, we also carry out capital gains tax planning as part of the service.

What are the costs?

Our service is tailored to suit you and your investment requirements. So, the fees can vary for each client. Our first meeting is at no cost or obligation to yourself. It is an opportunity for us to meet, to find out if we can work together and to also get a full understanding of your objectives and concerns. By the end of the meeting we will have a clear idea as to the steps (if any), the work involved and what our fees would be. Rest assured though that we will not carry out any fee-based work without discussing and agreement with you.

Our fees can be broken down in to two elements. The first is an initial fee. This covers the work involved in determining and arranging the appropriate investments for you as well as the associated planning as agreed at the first meeting. This will typically be 3% of the amount invested.  We will decrease this for larger investments and it could possibly increase for more complex work. As an example, our typical initial fee for an investment of £100,000 would be 2.5% (£2,500). This can either be paid separately, or taken out of the investment amount. We can often discount our initial fee for existing clients making a further investment, however.

The second element is our ongoing fee. This covers our review meetings and the twice-yearly portfolio review. Our ongoing fee is 0.75% per annum, so using the earlier example this would be £750 for one year (normally paid through your investment).

Both of these fees are VAT exempt. However, some fee-based work can be subject to VAT and this will be explained to you if applicable. And we aim to provide a service that you will value and appreciate. However, you are under no obligation to us and can cancel our fees and services at anytime.


 

Kirk Rice LLP is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). FCA Registration No: 531538.

Kirk Rice LLP is a limited liability partnership registered in England & Wales (Registered Number: OC354936) and having its registered office at The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.