A Budget for the Next Generation

Our Managing Director, Paul Northmore gives his view on the budget.

Act now don't pay later: this was the key message on the 'Budget for the Next Generation'.

Perhaps the biggest news was the new Lifetime ISA; but there were no major changes in terms of pensions as had been contemplated.

Here are the headlines...

Savings and Investments - The Lifetime ISA

The ISA allowance will rise to £20,000 for all - but more specifically a Lifetime ISA will be introduced for the under 40s who seemingly do not have as good a deal as the older generation when it comes to pension provision.

Sticking with the mantra of 'a budget for the next generation' the Chancellor introduced a Lifetime ISA with a government bonus. For every £4 saved in an ISA, the government will add £1 - a 25% bonus. The annual bonus can be paid up until the age of 50.

This bridges the gap between those who are employed and self-employed, as the latter do not qualify for a workplace pension.

The new ISA can be used to buy a first home and savers can withdraw funds after a year, If saving for retirement it can be withdrawn after the age of 60.

Unlike restrictions on pensions, savers won't pay tax on withdrawals. The money can be accessed at any time and can be returned to an ISA account after a withdrawal.

Existing schemes such as Help To Buy can be merged with the new ISA, which is good news for those who already have savings in another scheme.

Over the next few weeks we expect to hear more about this and will update you on our social media channels.

Mashfords' workplace pension adds value for staff

Case study fact file:

• Boat builders and repair Company

• Cremyll, Cornwall

• Scheme provider: Royal London

• 31 members of staff

Mashfords is a boat builders and repair company in Cremyll, Cornwall. The majority of its work is commercial with some private clients.
The company employs 31 staff and was aware of its workplace pension obligation but as with many SMEs time was tight, and after receiving slow advice previously they contacted Steve Ansell. Steve was recommended to the company by a member of staff who was an existing client.

The staging date was originally 1st October 2015 and Mashfords deferred for the full 3 months to give the opportunity to assign a scheme so as not to complicate the company’s 2014-2015 accounts.

Three Reasons Not to Sell your Investments after a Market Downturn

Our adviser Mike LeGassick looks at the reasons not to sell and instead ride the turmoil of downturns.

Most investors are still reeling from the steep stock market drop that occurred in January 2016.
The brief mini-crash of the summer of 2015 is probably still fresh in everyone’s mind. But, many of the market declines of the last eight years, including the stock market crash of 2008, are becoming faded memories. Certainly, they were hard to go through at the time; but investors who stayed invested throughout that whole period probably can't complain. That’s because, after every decline, no matter how severe, investors recover their losses. In this case, most investors' stock portfolios have more than doubled since the market bottom in 2009.
The same can’t be said for investors who sell into market downturns hoping to stem their losses. Many who sold their holdings from 2008 to 2009, still haven’t fully recovered, and anyone who sold into any of the subsequent stock market declines has more than likely underperformed the stock market. That may be the most compelling reason to not sell after a market downturn, but the research provides a few more reasons.

'A beautiful day!' Our adviser Lisa gets married!

On 20th February our adviser of 13 years Lisa Burton was married and became Mrs Lisa Julian!

Members of the Manning and Company team joined the happy couple to celebrate their day at Kitley House Hotel.
Lisa and Richie were joined by their three children and family and friends on what Lisa describes as a 'perfect day'.

The bride chose a pretty pink vintage theme with numerous personal touches!
Guests stayed at the hotel for the weekend of the wedding.

Never off duty our Business Manager Debbie was operational in making sure the day went without a hitch!

Speaking of the day Lisa said
'It was a brilliant day and the best feeling,  I just wish I could bottle that feeling and do it all again!'

Our staff danced the night away to local band I Love Amp.
Congratulations Lisa and Richie!