The Captain’s Charity Day is an annual event that has raised thousands of pounds for charities since it was launched 12 years ago. Over 120 keen golfers and local businessmen took part this year.

Rob Walton, Captain of Worfield Golf Club said: “Hosting a golf event is a great way to raise money for charity.  Many local businesses from across the region showed their support by entering teams into the contest, using it as an opportunity to entertain corporate guests.  We will have raised another fantastic sum for charity this year, and based on such strong support for the day, look forward to hosting the event next year.”

Torquil Clark’s Managing Director, John Chapman, added: “Charity events such as the Captain’s Golf Day need backing through sponsorship and we were pleased to be able to help Worfield Golf Club once again. The fact that it had been a dry day was an added bonus for all the golfers who enjoyed a fantastic day out on the course, which was up to its usual high standards. We look forward to being able to hand over a substantial cheque to both the Alzheimer’s Association and Hope House Children’s Hospices.”

Nigel Murdock, Managing Director of Torquil Clark Employee Benefits said: “There is little doubt that it is the Government’s intention to make it more difficult for employees to be absent from work due to ill health and qualify for financial support from the State. It is also clear that, where possible, the welfare system is being geared up to do all it can to keep people at work during ill health. If successful these measures will put increased pressure on employers to take more responsibility for the health, support and welfare of their staff who are suffering ill health.

“Unfortunately there is no hiding place for the employer as the Welfare Reform Act 2007 has meant that changes are now being implemented. This means that those with existing schemes in place, such as Income Protection Schemes, will need to make changes and amendments to the wording of their policies. Understanding and implementing the changes may challenging for many businesses.”

It is likely that over time the Welfare Reform Act will have an impact on the design and cost of Employers’ Group Income Protection Scheme benefits. These policies are designed to carry on paying an employee for a fixed time period whilst they are off work due to ill health, taking the financial burden away from the employer. It is also likely that the Act will create a need for employers to adopt a more structured exit route for employees that are unable to work due to ill health or injury and that a form of income replacement insurance will be part of that structure.

In order to understand the changes the Government has made by the Welfare Reform Act and the impact it will have on businesses, Torquil Clark Employee Benefits team have been holding a series of small group seminars to business leaders on the subject. For more information about forthcoming dates please contact Torquil Clark on 01902 576707.

With the holiday season upon us, is your home protected?

We’ve all seen the stories, people coming home from their dream holiday to find their home has been broken into and their most prized possessions stolen. Last summer, we even experienced cases where people had returned home to find it under water and their possessions floating away. When you go on holiday you must make sure you have insurance to cover any losses you may suffer.

Buildings & contents insurance through Torquil Clark offers you the chance to protect your home with:

• 3 months free cover available
• 30% no claims discount available
• Competitive premiums

To get an instant quote call now on 0800 970 8880 or get a quote online, we can also complete your application over the phone with no forms for you to fill in.

If your buildings & contents insurance is not due for renewal just yet, tell us the date your policy runs out, and we’ll give you a call nearer the time.

If your mortgage deal comes to an end in 2008, you could be in for an unpleasant surprise.

A report released by the Financial Services Authority recently stated that during the course of 2008, 1.4 million homeowners are expected to come to the end of their cheap, short-term, fixed rate deal*.

So, if your mortgage deal comes to an end this year, you face the prospect of paying an extra £210 per month on your mortgage payments, that’s an annual increase of £2,520*.

What can you do? Firstly, the best advice is to get advice. Many people take on the task of remortgaging on their own. This is not a simple task at the best of times, however, when you consider that the Credit Crunch is making good mortgage deals harder and harder to come by it becomes near impossible.

Secondly, choose independent. Because we are independent, we can search the whole of the mortgage market to find the best type of mortgage at the best rates. This is far better than the mortgage best buy tables you will find in newspapers and on the internet, which do not explain the fees, charges and the substantial deposits required, that would otherwise make those mortgages unattractive.

More importantly, we look at your individual circumstances and we will never recommend a mortgage that you can’t afford the repayments on. We can also help you to get a better mortgage deal on any buy-to-let properties you have.

As lenders tighten their criteria on who can borrow money from them, many people are at risk of not being able to find a better deal at all, particularly the self-employed.

The number of mortgage deals has drastically fallen over the last few months, so there is not a great deal of choice at the moment. At Torquil Clark Mortgages our independent mortgage advisers can help you find a good deal. We have access to mortgage deals you won’t find in your local high street bank or building society and with our expertise we can help you get to the good mortgage deals before the lenders withdraw them.

Unlike many other mortgage advisers or lenders, we don’t charge an administration fee, which could save you between £499 and £999. We can also deal with all of the hassle that comes with applying for a mortgage, like completing the application form, dealing with the lender and the solicitors and provide you with updates when necessary.

If your mortgage deal isn’t due to run out for a while, you can join our Mortgage Club. Simply tell us when your mortgage deal ends, and we’ll contact you nearer the time.

To speak to one of our independent mortgage advisers or to join our Mortgage Club, call 0800 294 7142.

*Financial Services Authority – Risk Outlook 2008.

Are you looking for a degree of flexibility in retirement? Then income drawdown may be the answer.

For many, retirement planning is all about saving for when they have finished working and using the money to buy an annuity, but there are other options. Here we look at why you should buy an annuity straight away when you retire, but what options are available to you if you don’t want to do this?

There are ways of taking some money out of your pension fund without having to use the rest to buy an annuity, such as income drawdown plans, also known as unsecured income arrangements.

They are most effective if you have a pension fund worth £100,000 or more and add the flexibility to your retirement planning that buying an annuity can’t offer. You have the ability to take 25% of the value of your pension fund as tax-free cash, and providing you are willing to add a degree of risk to your retirement planning, you can leave the rest invested with the prospect of further, long-term growth, up until you reach 75.

Once you have entered into a drawdown plan, you have control over the funds the remainder of your pension is invested in, allowing you to make changes as and when you need to.

And if you decide to take an income from the plan, it allows you to be flexible and vary the amount of income you take.

Many of our clients who have come to us looking to add flexibility to their retirement planning, find income drawdown offers them the chance to make some sweeping changes to their lives and gives them options they never had before.

See our case study below to find out how one of our clients benefited from income drawdown. Of course, income drawdown is not a product that will benefit everyone so you must seek advice. To speak to one of our specialist
retirement planning advisers, call 0800 294 7191 or complete this form.

Income drawdown - case study

At age 51 Chris Long had recently changed jobs after 25 years service with one company and was hoping to retire at 60. He had built up a substantial pension pot in his previous employer’s final salary scheme, but this had been frozen after 22 years service and wouldn’t be available until the age of 65.

“I’d decided long ago that I want to retire when I’m 60 instead of working until 65 – there are so many other things I want to do with my life that don’t involve working for someone else. So I did some digging to find out if there were options available that would allow me to take control of the money in my pension fund. I had already heard of income drawdown and was aware that I could take 25% tax-free cash before I came to Torquil Clark for financial advice.

I had never used an independent financial adviser before and it was a bit of a daunting prospect. But what came across to me immediately was that I could trust this person - and that’s essential, because to get the most out of them you have to share as much information about your circumstances as possible.

I found my adviser at Torquil Clark showed a great deal of understanding of my life expectations and aspirations, which made me feel very comfortable.

It is important to express your aspirations even if you believe they are unobtainable as they may actually be possible to achieve! Working with an adviser isn’t just a question of having all of the pros, cons and technical pensions jargon explained. I found it gave me the confidence to say ‘let’s do it’.

As a result, I’ve been able to take my tax-free cash to use as I want and I’ve got control over the rest of my pension fund, with the potential for it to grow until I am 70.

As I am still working and enjoying my new job, I can save or invest the income generated from the drawdown plan until I need it; but if that changes I know I don’t have to continue in a job I’m no longer enjoying. It’s really enabled me to make some exciting changes to my lifestyle and given me choices that weren’t available to me before.”

To speak to one of our specialist retirement planning advisers, call 0800 294 7191 or complete this form.

For a limited period only, our advisers are offering to review your personal pension, completely free of charge.

Do you know how much your pension fund is worth? Do you know the effect charges are having on it? Do you even know what funds you are invested in? In most cases the answer is no. So now is the time to find out.

There are many reasons why your pension pot may have reduced in value, they include:

• Recent volatility in the stock market
• You may be invested in a fund that has continually underperformed
• You may be paying more in charges than you need to
• You may be in funds that are inappropriate for you as an investor

The effect of these factors may be wiping £100s, if not £1,000s off the value of your pension fund – cancelling out the effort you have made to contribute money you have worked hard to earn. The problem is you can’t see the money being physically taken away from you, but by losing money from your pension fund, that’s exactly what’s happening.

The good news is that, for the majority of these reasons, seeking the advice of a Torquil Clark Financial Planning independent financial adviser, can help you get your pension fund back on track and give you a greater chance of getting a higher income when you retire.

Our advisers are experts in the areas of pensions and retirement planning; they can help you review your personal pension by:

• Analysing the performance of the investment funds in your pension
• Assessing the overall performance of your pension provider
• Reviewing your pension fund to find out where you are now and set targets for achieving your retirement goals
• Scrutinising the charges you are paying for your pension
• Advising and helping you to transfer to a pension plan with lower charges

This limited offer of a free pension review is only available until 31st August 2008.

So, to arrange your free, no obligation initial discussion with one of our pension and retirement planning specialists, call 0800 294 7191 now or complete this form and we’ll call you back.

Pension review - case study

After 26 years spent as a teacher and currently in his 13th year as a self-employed consultant, 61-year-old Don Gwinnett had planned to retire when he was 65.

He had accumulated significant funds in a number of pension plans with different providers and wanted help to review them.

“I knew that having a number of pension plans was making it harder for me to control their performance. I was also worried that I was paying more in charges than I needed to. So, given that handling money has never been a strength of mine, I realised I needed the help of a professional.

I’d had bad experiences in the past with other financial advisers who seemed more interested in the money they could make, rather than doing what was best for my future.

I was referred to Torquil Clark by a neighbour of mine who had been a client of theirs for a number of years. I immediately noticed the difference.

My Torquil Clark adviser was attentive, knowledgeable and, most importantly, had a genuine interest in making sure my pension plans were in the best possible shape.

I have a lot of trust in my adviser’s capabilities. I’ve never felt as though I was being pressured into making a decision, instead I have always been presented with advice and recommendations in plain English, so I could understand them.

I plan to keep active when I retire. I’ve already got a long list of projects that I want to undertake, including voluntary work in the local community.

I also plan to regularly visit my daughters and grandchildren who live near to home and in France and Spain. I’m confident that the advice I have been given will enable me to do this.”

To arrange your free, no obligation initial discussion with one of our pension and retirement planning specialists, call 0800 294 7191 now or complete this form and we’ll call you back.

With the majority of the tax year still ahead, we look at investing in your ISA straight away.

Why the hurry? Well there are actually a number of reasons, such as the opportunity cost. It would be fair to say that the market has experienced a high degree of volatility of late, but this also brings an opportunity to invest, providing you get the right fund.

Don’t forget that markets tend to rise at the end of tax years, so by getting in at that time you miss out on vital outperformance. It also makes sense to use the time allowed to choose the right fund for you, rather than rushing into the wrong fund when time is limited.

But where to invest? With the world at your fingertips you may be looking for some different ideas, so here are two options worth considering.

Schroder UK Income Defensive

Cautious Income Investors? Look no further!

We are delighted to bring you this newly launched fund from the same stable as the well regarded Income Maximiser fund.

Income investors will be pleased to note that it targets a yield of 5-6%, with a defensive strategy which creates a level of protection against market falls.

The fund uses a three-step investment strategy:

1. The fund manager seeks out high quality companies paying high dividends and creates a portfolio.
2. They cap the potential quarterly growth of the fund and in return receive a fee, part of which is used to increase investors income.
3. With the remaining fee, the fund manager buys a level of protection on the equity indices to protect investors against large falls in the market.

Taking three different market conditions the fund might perform as follows:

In declining markets - The fund would be expected to outperform a traditional UK equity income fund because of the two layers of protection the fund offers.

In flat markets – The fund is likely to outperform a more traditional UK equity income fund as stocks are less likely to grow above the capped levels.

In rising markets – If rises are dramatic, the fund is likely to underperform a traditional UK equity income fund because of the effect of the capped capital growth.

So, this is clearly an ideal fund for clients who are looking to secure a good source of income in uncertain market conditions.

Fidelity Multi-Asset Strategic

A fund for all seasons and reasons?

The days of a fund investing in just one asset class are well and truly over so when Fidelity launched this fund in January 2007 they aimed to provide a one-stop solution to having “all eggs in one basket”.

The background to this is that historically the returns from equities, bonds, property and commodities do not all move the same way at the same time. The aim is to offer a high level of diversification across asset classes, equity regions and sectors, which it gains by investing in a number of Fidelity’s own funds.

This fund could be suitable for investors who:

• require an instant portfolio with multi-level diversification
• want an investment with the potential to add value in all market conditions
• seek a core holding which can be held alongside more specialist investments, like India or emerging market funds.

So, the fund sets out to be relatively defensive, but can be more aggressive when the time is right. This allows investors to benefit from holding their investment for the long-term, throughout a variety of different market conditions so that they don’t have to resort to buying and selling in response to market movements.

What you get is a fund with diversification; it currently has exposure to over 2,000 shares from 23 funds. It comes with an experienced manager and is backed by a research driven group. With this level of pedigree and high levels of diversification, the prospects are encouraging.

If you are nearing retirement, no doubt you will be keeping an eye on the value of your pension fund and the effect the credit crisis is having on it.

If you are looking to buy an annuity, you can do so with your pension fund as soon as you retire, or delay buying your annuity until the stock market recovers to its pre-Credit Crunch levels.

Why delay?

Firstly, the income you get is calculated on your age, so the older you are, the higher your income will be. Secondly, the value of your pension fund may even increase whilst you are delaying, potentially boosting your income when you decide to retire.

For many years annuity rates have been relatively low due to low interest rates and the UK population living longer, which has a detrimental effect on the amount of yearly income you can get from your pension ‘pot’.

You may also have the option of taking an income from any investments you have made over the years, letting your pension potentially grow in value and providing you with a larger income in retirement.

Why buy now?

By buying your annuity now, you could end up benefiting from the Credit Crunch. Many experts believe that now may be the ideal time to buy an annuity, after strong yields from corporate bonds and the partial recovery in stock markets have pushed annuity rates to five-year highs. These higher rates aren’t expected to last, so if you delay buying your annuity, you may get a lower rate than is currently on offer.

Although your pension fund may increase if you decide to delay, and you will get a higher annual income because you are older, you have to consider the years of income you will miss out on and how long it will take to make up that loss.

This table shows that by delaying buying an annuity for five years, it would take over 13 years to make up the income you missed out on. It also highlights the fact that the extra income may not be as much as you think it would be, having waited five years more to get it.

Taking income from your investments is a risky option if it is your only source of income. Your income will change as investment returns fluctuate, so you will never be certain of the amount coming in every month. Don’t forget, an annuity will buy you an income for life – the money in your investments may run out unless performance outstrips the income you take.

You could lose money by putting off buying an annuity, so seek the advice of an expert before you make a decision. Call one of our retirement planning experts on 0800 294 7191.

We can also advise you on the other options available to you when planning for your retirement.

Many of us live to our means – it doesn’t matter how much we earn, we quickly get used to a lifestyle that comes hand in hand with our income.

Typically if you earn more, you may buy a bigger house and take out a larger mortgage, or commit to private schooling for children.

This is why the impact of the recent Credit Crunch should be enough to make everyone sit up and take notice of how at risk you are if you were to have an accident, be taken ill or made redundant.

The problem is that many mistakenly believe that the only ones who will have their fingers burnt are those on a low income with heavy personal debts or a mortgage they find difficult to pay.

The truth is that those on high incomes are just as likely to have the same proportional levels of debt. This is backed up by Transact, a financial charity which has seen its services being used by more and more middle class people struggling with debt, such as a mortgage, a business loan or an investment such as buy-to-let property.

If you are reliant on your income you should be taking steps to protect yourself financially. What would you do if the flow of cash coming into your home stopped? Would you be able to pay your mortgage and other bills? If not, would you have to find the money from elsewhere?

You may have life insurance that provides a lump sum of money, but that is only if you were to die. What if you were injured, became ill or made redundant? Would you be able to pay your mortgage, which is something your life insurance could not provide. Accident sickness & unemployment cover does just that, giving you peace of mind when you need it most.

You have the flexibility to choose the amount of monthly income you would like to receive. The amount you pay will be dependent on how much income you would want and is usually based on a cost per £100 of monthly cover. The policy will usually protect you for 12 months or until you return to work, whichever happens first.

If only certain aspects of an accident sickness & unemployment policy put you off because you don’t feel you would need them, that’s not a problem. You can choose to have accident & sickness cover or unemployment cover separately.

The key to survival in difficult financial times is to reduce your overall vulnerability by considering an insurance policy. However good your job is, or how wealthy you are, a cash flow problem if you have a mortgage to repay can have serious implications. The Credit Crunch is not selective as to whose finances it bites.

To discuss accident sickness & unemployment cover with one of our specialist advisers, call now on 0800 970 8666.

When your circumstances change, so does your need for life insurance.

Think back to when you first took out your life insurance policy; the reasons why you took it out and why you chose the amount of cover you did. Now think of all the things that have changed in your life since then.

Perhaps you have moved house or remortgaged, made substantial home improvements such as building an extension, had a child or maybe your child has grown up and left home. You may have even retired, quit smoking or lost weight.

As ridiculous as it may sound, even the smallest of changes in your life and lifestyle can make a significant difference to your need for protection in the form of life insurance. For a little extra cost, the peace of mind you will get is priceless.

Double your family’s cover

An effective way to increase the amount of financial protection for your family is to double it. If you currently have a joint life policy, you can do this without significantly increasing the cost, by taking out two separate policies for you and your partner.

Both policies will pay out if a claim needs to made for you and your partner, whereas your existing policy will only pay out once on the first death. This is a valuable consideration if you have children or dependants as one payout may be enough to pay off your mortgage, but a second payout would provide financial security for a little extra cost. See our example below.

By not taking steps to ensure you have enough life insurance you are essentially putting your family’s future financial security in danger, should the worst happen to you.

You may think that reviewing your life insurance and taking all of the changes you have made in your life into account is not worth the hassle.

This is not the case. Get in touch with one of our life insurance experts, and they can give you the advice you need to update your life insurance arrangements. They will look at your individual circumstances and advise you on the right amount of cover needed to protect your family.

As well as advising you on the right amount of cover, we can also get it at the cheapest possible price. We search the UK’s leading life insurance providers, shopping around on your behalf in order to find the one that offers the best terms at the best price. And because we deal with these companies everyday, we negotiate special rates on your behalf.

To discuss your life insurance arrangements with one of our specialist advisers, call now on 0800 970 8666, get in touch online or get an instant online quote now. Even if you are satisfied with the amount of cover you have, we may be able to save you money on your monthly premiums.

Benefits of taking out life cover with Torquil Clark Life Insurance:

• Cheapest life cover guaranteed
• Advice on the right cover
• Insurance from leading providers
• Simple application process
• Step by step guidance