No one likes to leave their loved ones with large bills to pay when they die, but many of us are failing to make the right arrangements whilst we are still alive.

Unlike term insurance, the 50 Plus Plan from Liverpool Victoria will pay out a guaranteed cash lump sum when you die, whether it’s 3 or 30 years from now, and is not restricted by a specified time period. Another advantage the 50 Plus Plan has over term insurance is that you are guaranteed to get cover as long as you are a UK resident and between 50 to 80 years old. There are no medical questions to answer and payments are fixed and won’t increase as the years go by.

Many people take out the 50 Plus Plan so that the loved ones they leave behind have the money to cover bills, debts and funeral expenses which can cost £1,000s. Others simply like to leave their family with extra money.

The 50 Plus Plan also allows you to select the amount of cover you would like, but it’s important to remember that cost of living increases over time and you should allow for this when selecting the level of cover you require.

Another great benefit of the 50 Plus Plan is that you will get a full payout if you die more than one year after your plan starts. If you die within the first 12 months, your family may only receive what you have already paid in.

To welcome you to the plan, Liverpool Victoria will send you a free voucher once you’ve paid your first premium.

To find out more & to get a quote, call 0800 294 7212.

ISAs have been around for many years now, but the rules change from time-to-time.

Here’s a quick reminder of what they are all about.

How much can I invest in an ISA?

Your full allowance is £7,200, but you can invest up to £3,600 of this in a cash ISA. If you only want to invest £1,000 in cash, you are free to put the remaining £6,200 in equities. You can also invest the full £7,200 in equities, if you wish.

You can now transfer the money you have accumulated in cash ISAs in to equities and still maintain their tax efficient status. For more details, call us on 0800 408 1324

How much tax will I pay?

The beauty of ISAs is that there is little, if any, tax to pay. Apart from a 10% tax on UK dividends, which is
paid by the fund manager on your behalf, there is no income or capital gains tax to pay. And if you are a higher rate tax payer or self employed, you don’t have to declare ISAs on your tax return.

Why invest in equity ISAs now?

Investing in equities is a long-term commitment, so you should be concerned with performance over 5-10 years rather than look at what is happening right now. In fact, because stock markets, and as a result share prices, are currently low, by investing now you would be entering the market near the bottom rather than near the top.

Why Torquil Clark Investments?

The biggest advantage you get by investing through us is price. Fund managers set initial charges for buying their funds, which can be as much as 5% of the value of your investment. By investing through us these charges are significantly reduced and sometimes fully. On a £7,200 investment, this could add up to £360, which goes back into your investment. So it makes financial sense to invest through us.

To find out more about investing through Torquil Clark Investments, call 0800 408 1324 or invest online now .

It has been a tradition of ours in recent years to provide you with a portfolio of funds for ISA Season.

After listening to what you have been telling us, our Investments Committee has created a portfolio of income funds, which are expected to provide you with an income in excess of what you can get from most bank accounts.

All you need to invest in our portfolio is £2,000. To invest in our income portfolio, or any of the funds individually, call our Investments Team on 0800 408 1324 or invest online now through our Fund Supermarket.

Fidelity MoneyBuilder Income - No initial charge to pay

This fund, which primarily invests in the more cautious end of the fixed interest market, is managed by Ian Spreadbury, an experienced manager who has been with them since 1995. Fidelity gives its fund managers a high degree of control, allowing them to concentrate on portfolio management, however, fund management is team-based where the manager is assisted by many analysts. This £1 billion plus fund has a current yield, which will fluctuate, of 5.5% pa. The fund is popular due to a mix of its lower annual charges and a good record of consistently outperforming the sector average over the long-term.

Invesco Perpetual High Income - No initial charge to pay

Managed by Neil Woodford (possibly the best known and most popular UK fund manager) since 1988, the High Income Fund is now around £8 billion in size. Despite the size of the fund, it still manages to consistently outperform the sector average. The approach Woodford takes is a defensive one, with above average exposure to the utility and tobacco sectors. The manager is prepared to back his convictions, so currently the top ten holdings make up more than 50% of the portfolio.

Performance under the manager has been strong and consistent due to a number of factors, notably shunning technology stocks before the tech bubble burst in the late 1990’s and banks during 2008. The current income yield, which will fluctuate, is 4.5% pa. Many favour the fund due to a combination of the skill of the fund manager and the long-term performance that he has achieved.

Newton Global Higher Income - No initial charge to pay*

This equity fund has been managed by James Harries since its launch in November 2005, and is now over £400 million in size. The manager aims to produce a high and increasing income from a portfolio of companies mainly listed overseas, currently only 12% is invested in the UK. The bottom-up selection process begins with a screening stage that identifies stocks producing the required yield. In-house research is completed by dedicated analysts, who compile model portfolios. The manager constructs the final portfolio with reference to these models alongside the objective and risk profile of the fund. There are no set constraints, however, Newton states that the majority of managers tend to follow the model and any ,deviation is monitored. The portfolio typically consists of companies that are found to have good products, strong management and strategy, and are also attractively priced.

Where possible the final portfolio will provide exposure to a range of sectors, although there is no reference to country allocation. With a current yield of 5.9% pa, this fund is an ideal one if you want to take income and are looking to diversify away from the UK.

Portfolio Percentage Splits

Fidelity Moneybuilder Income - 50%
Invesco Perpetual High Income - 25%
Newton Global Higher Income - 25%

Based on minimum £2,000 investment

Fidelity Moneybuilder Income - £1,000
Invesco Perpetual High Income - £500
Newton Global Higher Income - £500

Investment funds generally fall into two categories; growth funds and income funds.

At the moment income funds are proving popular amongst investors, and this is the reason why this year’s ISA Bulletin focuses on a portfolio of income funds. But what are they and how do they work?

The main reason, apart from excellent performance and suitability, why people invest in income funds is to receive a regular (income) payment, to go alongside other sources of income such as a pension or salary. You can also choose to reinvest the income payments in order to increase the value of your investment, by
choosing accumulation units.

Within an income fund, the manager will invest in assets that should provide a good level of income. Whilst the asset class chosen varies from fund to fund, most income funds are currently choosing bonds and shares, rather than cash. Remember, the higher the income (yield) that is paid by the fund, the higher the risk.

Income funds providing a more steady and reliable income will usually invest in corporate bonds issued by companies within established industries with good future potential, or gilts (issued by the government), which are considered to be lower risk than corporate bonds.

Income funds investing in equities will usually invest in companies with good cash flows and are likely to pay out increasing dividends to shareholders.

Although an income fund’s objective is to give investors a good level of income over the long-term, they may also achieve capital growth through an increase in share or bond prices.

Our Investments Committee has created a portfolio of income funds which are expected to provide you with an income in excess of what you can get from most bank accounts. If you would like any more information on the funds in the portfolio, call our Investments Team on 0800 408 1324.

We are pleased to announce that we have scooped the prestigious Gold Standard Award for Independent Financial Advice - for the fifth year running.

The award was officially presented to Directors of Torquil Clark at the House of Commons, at an event hosted by Lord Hunt of Wirral, who recently chaired an independent review of the Financial Ombudsman Service.

John Chapman, Managing Director of Torquil Clark said: “This award recognises the company’s Service, Capability to Conduct Business, Fair Value, Trust and Financial Strength. In essence it’s about us providing our clients with good advice and conducting our business in an honest and honourable manner. To be recognised specifically for these qualities is a huge endorsement for the company.

“As the only Independent Financial Adviser in the UK to have received the Gold Standard for five consecutive years, the award recognises our efforts in putting the customer first.  It is our sole purpose to provide services, which are above the standard any customer would expect from a financial services organisation.  We are delighted to have been rewarded for our efforts by receiving what we consider to be the premier award for our industry.”

Sarah Godfrey, associate editor of Incisive Media’s Financial Services Division and chair of the judging panel of industry experts said: “The fact that even in such turbulent financial times certain companies stand out for their commitment to treating customers fairly and the robustness of their processes, is a real indication of the enduring quality of the Gold Standard Award winners”.

This year other winners of gold standard award were Scottish Widows and Friends Provident who won awards for individual and group pensions and Standard Life who won the Healthcare category.

AIG is one of the UK’s major group life insurance providers and as such, provides protection for employees across the country. Had AIG gone under, then many businesses could have faced a black hole in their employee benefit commitments.

The situation with AIG is now significantly more stable. The rescue plan will see the Federal Reserve Bank of New York provide a two-year, $85 billion secured revolving credit facility. In return for providing this essential support, American taxpayers will receive a substantial ownership interest in the company.

Inevitably though, the news will mean that employee benefits are top of the agenda for many board meetings this week. Without question, if a company is prepared to invest in benefits for their staff, then that money needs to be effectively spent. If there are concerns then the best option is to review the schemes in place, and if necessary, switch providers.

In response to this latest bite from the Credit Crunch, Torquil Clark Employee Benefits are offering a free consultation meeting to companies who want to review their current employee benefit schemes, or want reassurance that their schemes are best placed. For more information or to book a meeting call Jas Randhawa on 01902 576707 or get in touch online.

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.