Author Archives: Admin

Stirling House is pleased to announce the opening of the new Training & Examination Centre in Welland. The Centre is an extension of the main Administration Centre and may therefore be accessed internally although it does boast its own front door!  The various suites are fully equipped with State-of-the-Art technology for training purposes complete with its own lounge and dining facilities to help advisers wind down after a training session or exam.

The Centre also serves as an accredited Examination Centre where Financial Advisers – both Stirling House and non-Stirling House - can sit their industry examination modules right up to and including Chartered Level. This should prove to be a great asset to Stirling House advisers in completing their Level 4 Diploma or Chartered qualifications.

For those that missed the introduction of Junior ISAs earlier this month, here are some of the key facts about the new products;

Junior ISAs are a tax efficient saving accounts designed to allow adults to save on behalf of a child. They replace Child Trust Funds that were withdrawn at the beginning of 2011.

• Available to children under the age of 16 who were not eligible for a Child Trust Fund
• Friends and family can pay money in up to a combined total of £3,600 per tax year
• The child can access the money from their 18th birthday and they can choose to manage the account themselves at the age of 16
• Junior ISA’s can be held in cash or invested in stock and shares
• All income and capital gains will be tax free
• Unlike the CTF there will be no contribution by the government

Although not many of us will be in a position to save the full amount, it has been predicted that the maximum £300 a month investment over an 18 year period could grow to more than £100,000 if returns average 5% a year. If using the average of £25 a month that is currently invested into Child Trust Funds, the investment could grow to just over £8,500 over the same period (based on 5% returns).

So whether it’s a few thousand pounds or much more, Junior ISAs offer parents a credible means to build up a nest egg for their children’s future. A great way to help towards university fees, weddings or a house deposit.

Blog submitted by Dean Clifford who is a Financial Adviser with Stirling House IFAs

The introduction of the National Employment Savings Trust (NEST) scheme is less than a year away, but who is actually prepared for this? A recent pension survey revealed a substantial disparity between the expectations of our government and the understanding of many UK employers.

Pension trends survey 2011 (by the Association of Consulting Actuaries)

• A third of large employees are actually planning to cut pension spending
• 60% of employers who don’t currently offer employee schemes said they are unlikely to offer NEST or an employer scheme

NEST has been designed to fill our huge pensions gap by making it compulsory for all employers to offer a pension to staff; employers will also need to pay contributions on their workers behalf. However this is a clear indicator that employers do not understand the legal requirement to auto enrol into NEST.

It is essential that the government makes an effort to dramatically raise awareness of this scheme. Employers that do nothing should do so at their peril as you will automatically be placed in a scheme anyway, which can result in loss of control and increased costs.

Employers, don’t leave it too late, start your preparation now to ensure you are aware of your obligations and potential cost.

Blog submitted by Neal Griffin who is a Financial Adviser with Stirling House IFAs.