February, 2019 | Ascot Wealth Management

And the winners are…

Mark Insley AWM’s CEO pictured centre and AWM’s Catriona McCarron to his right

We are delighted announce that, after being shortlisted in the Professional Adviser Firm of the Year, AWM have been chosen as the (South East) 2019, winner! It was announced on Thursday night at an awards ceremony in London.

We are thrilled to be recognised for such a prestigious national award.

In total, the services and products of more than 200 advisers and other businesses were under consideration for the 2019 Professional Adviser Awards to reward excellence both within the financial advice community and among the broader financial services sector.

A huge thanks to our talented AWM team; without them none of this would have been possible. And of course, not forgetting the loyalty, trust and support of our clients.

Many thanks for all the congratulatory emails from those who have already heard this great news.

Ascot Wealth Management Limited is authorised and regulated by the Financial Conduct Authority reference 551744. Our registered office: Scotch Corner, London Road, Sunningdale, Ascot, Berkshire, SL5 0ER. Registered in England No. 7428363. www.old.ascotwm.com Unless otherwise stated, the information in this document was valid on 3rd February 2017. Not all the services and investments described are regulated by the Financial Conduct Authority (FCA). Tax, trust and company administration services are not authorised and regulated by the Financial Conduct Authority. The services described may not be suitable for all and you should seek appropriate advice. This document is not intended as an offer or solicitation for the purpose or sale of any financial instrument by Ascot Wealth Management Limited. The information and opinions expressed herein are considered valid at publication, but are subject to change without notice and their accuracy and completeness cannot be guaranteed. No part of this document may be reproduced in any manner without prior permission. © 2017 Ascot Wealth Management Ltd. Please note: This website uses cookies. To continue to use this website, you are giving consent to cookies being used.

What to do with a sudden windfall

When you receive a sudden windfall of money from inheritance, a gift, or for some lucky individuals out there, winning, the extra cash creates an opportunity for you to improve your financial situation. There are several steps you can take to preserve your new found wealth and potentially set yourself up for life goals or early retirement.

Determine the tax implications

The very first step should be to consider the tax implications. Speak to your financial adviser to determine the most tax-efficient strategy.

Set up a FUNd (a small portion for fun!)

Set aside a small percentage for your enjoyment or entertainment. Generally this should not be more than 10-15% of the money.

Set up a Financial Plan

Before you make any big decisions, create a Financial Plan for this money. If you’ve already done this, consider updating your financial goals.

Create or update your Estate Plan

A sudden windfall is the perfect opportunity to review your Estate Plan to make sure that your money will be distributed exactly according to your wishes upon your death…and as tax efficiently as possible.

Create an Emergency Fund

An Emergency Fund is traditionally 3 – 6 months worth of your salary. This money should be put in a high yield savings account, and the money should only be accessed for true emergencies such as job loss or a medical emergency. Remember to always replenish it after you have dipped into your Emergency Fund.

Pay off or consider buying a house

If you don’t already own a home, this money may make an excellent deposit. If you purchase the house outright and have some funds remaining, consider investing the money you would’ve spent on regular mortgage payments elsewhere.

Speak to one of our financial advisers today to help you on your financial journey!