LYNDHURST FINANCIAL MANAGEMENT BLOG

As you will have seen on some of our earlier posts Barclays have closed their financial planning and advice services in branches. From a conversation I had in our local Barclays Harpenden branch they now offer an online execution only service to replace it. I don’t know all the reasons behind this move but can only speculate that the demands placed on advisers by the FSA and the risk inherent in providing advice services made it no longer commercially viable.

We have certainly felt the squeeze by the FSA that the majority of  authorised firms must be feeling at the moment. We are all working to new rules on qualifications and competencies, combined with new client service agreements and charging structures. This is commonly being referred to as the “new world” and officially commences from 2013 but we see the changes coming in much sooner. This however is not such a bad thing and not all of it is” new world” to Lyndhurst. I wanted to spend a few moments explaining how we are positioned to deal with all of our clients in the “new world” unlike Barclays.

We have been working over the last few years on a reduced charges commission structure unlike many of the banks We have been reducing the amount of up initial upfront commission we earn and taking a small commission each year to service the plan and give you the advice you need on an ongoing basis. 

We are now in a position to take this a step further and offer a selection of service standards for you to choose from. This means we are able to service clients with many assets who may demand a higher level of adviser competency, time and administration, as well as clients with a single plan or mortgage who obviously require less regular contact once the plan is in force.

We now offer 3 main services with 2 bolt on services which can enhance the level of service you currently receive;

LYNDHURST DYNAMIC – Financial planning and asset consolidation. “Our role is to identify, achieve and maintain your desired lifestyle without the fear of running out of money”.

LYNDHURST WEALTH – Asset consolidation and portfolio management. With modern products you no longer need to go to different providers for different tax wrappers and investment solutions. Wraps and Platforms now have access to many of the tax wrappers and investments you require and you can view all of your portfolio in one place. More Control, Greater Access, Enhanced Reporting, Less paperwork are just some of the feature benefits of this service.

LYNDHURST ADVICE – We will continue to offer advice on single investments, pensions, mortgages and insurances as and when you require it.

LYNDHURST PRIME – A bolt on addition that offers enhanced fund and investment monitoring allowing you to respond quickly to key market charting indicators with the aim of reducing the potential downturn within your portfolio.

LYNDHURST MONEY – An online service which is available to all but probably best suits those clients who are not positioned on a wrap or platform and would like the benefits of online access to portfolio valuations. This service also allows you to securely enter your online banking and credit cards in order to analyse your spending habits and assist with budget control.

Back to my point, Lyndhurst are happy to assist clients of all shapes and sizes and have a service proposition that can support you through the change from “old world” to “new world” and beyond.