May 31, 2017
Summer can be quite a hectic time of year; jetting off to business trips, having lunches across the city and attending business events, so it’s always handy to have someone there to organise it for you.
A virtual PA will be able to take the stress of planning and organising your social calendar out of your hands and instead, effectively manage your diary for you.
If that hasn’t convinced you, here are Bespoke Support Network’s reasons for hiring a virtual PA.
A virtual pa is fully trained in administration, communication and time-management, meaning you won’t need to train a personal assistant in these areas. Not only does it save you time hiring and training an employee but you can rest assured that your calendar will be in safe hands.
Virtual personal assistants are, as it says in the name ‘virtual’ and therefore typically work from a home office. This means you do not need to have an extra space in your office when you hire them, it also means you avoid buying additional equipment for them.
Your virtual assistant would only work depending on your individual needs. They will work on a project, as per an hourly or monthly basis, so you can decide when and how your PA works.
Covers All Your Needs
Not only will a virtual assistant be skilled to cover most of the admin jobs you need doing; they are also available at any time throughout the day, month and year. This should include official holidays and non-working holidays, meaning there is no risk of losing your employee through maternity leave or temporary incapacity because of illness.
If you’re somebody who attends lots of event this season, why not enlist the help of your very own PA?
Bespoke Support Network has access to thousands of professionals, including virtual PAs, meaning we can put you in touch with the very best personal assistant for you.
Get in touch with the team on 0300 303 3441
May 29, 2017
There has never been a better time to consider transferring your pension than now. Here at BSN we understand the importance of making the decision that’s best for both you and your family.
Below are 4 reasons as to why you should consider moving your pension into a better scheme.
New job role – If you’re in the process of moving to a new employer you will also be leaving the pension scheme in your current workplace too. You don’t lose the benefits that you have gained from this scheme but it could be a good time to consider moving your pension pot to either your new workplace scheme or into a private pension.
Improve your pension performance – More often than not we find that our customers are seeing a lack of return from their current workplace pension. If your scheme is performing poorly it could be the ideal time to transfer your money somewhere else. It’s important to see returns on your invested money, don’t choose to settle with something because it seems like the easy option.
Better death benefits – You may find that your current benefits aren’t as good as other schemes that you have seen. This could encourage you to move your pension pot as soon as possible. For example, by moving to another scheme it could allow your relatives to inherit the money once you die instead of spouses or dependants.
Combining several pensions – Over the years you’re likely to have several jobs, each with a different pension scheme. This can leave you with numerous small pension pots, dotted here there and everywhere! Clean up your finances by consolidating your pensions into one single pot, which in the long run will offer you better returns and benefits.
It’s important to note that you need to be extremely careful before transferring your pension. It’s not something to do on a whim and you will need a lot of time, care and knowledge to help you consider it, before switching over.
Here at Bespoke Support Network we can put you in touch with trusted professionals that have the qualifications and experience to inspect your pension pots and advise you with the best possible course.
For more information contact one of our today by calling 0300 303 3441 and we will be happy to help.
May 27, 2017
It has come to our attention that wills and trusts are often confused and although they may seem similar there are several important differences that need to be highlighted.
Here at Bespoke Support Network we want to explain in detail the differences so that you’re able to choose the best solution for you, depending on your personal situations and concerns.
- First things first, a will and trust will take effect at different times during your life. Your will comes into place after your death, whilst a living trust will come into effect the moment it’s been signed. If you wanted to, you’re able to alter both documents up until your death as long as you remain mentally competent.
- Each document will cover different aspects of your property. A will can only govern the disposition of property that’s owned in your name. This includes any interest in property, such as tenancy. A trust can oversee any property it’s been funded with. Once you’ve created your trust you can transfer all assets into it. This can include life insurance policies.
- Another big difference between a will or a trust, is that in the event of your death, your will requires probate to transfer any assets to a living beneficiary. It’s an added level of security to help protect your loved ones. A trust will avoid probate, as the terms allow the assets to move on to a new individual’s ownership.
- Trusts can provide for both life and death. If you or your loved one becomes mentally incapacitated before the time of their death, having a will can be costly and stressful should it need to be altered. When you create a trust, you can make provisions for disability, appointing a trustee to manage your property and assets if anything was to occur in the future.
Are you still unsure whether a trust or will is the best solution to use, for protection of your loved ones and assets? Here atwe will put you in touch with trusted financial advisors to help you plan for the future. Get in touch today!
May 25, 2017
Do you know how many pension pots you have? How much these pots have grown? And how much they will be worth come retirement?
If your answer is ‘yes’ then you are in the majority of Britons who take a ‘head in the sand’ approach to their pension savings. In a study by Duncan Lawrie Private Bank, more than half of the people surveyed who also contribute to a workplace or personal pension scheme admit to not reviewing their pension.
As you get older and retirement age draws closer, it’s about the time to start reviewing your pension so you understand how much your pension pot is worth and how your investments are growing.
Here are some questions to ask yourself when reviewing your pension:
What are your objectives, and am I contributing enough to meet my targets? In simple terms, when are you planning to retire and how much do you want to ? It’s an important question that ensures you are putting in enough to your pension for the future.
Will personal changes in my life affect the pension? When big life events happen such as marriage or divorce, it’s best to start reviewing your pension and your options for the future, particularly when it comes to death benefits.
How are my assets invested? Since your last review, there could be new investment products available that were previously not, meaning reviewing your pension could bring new opportunities for your assets. Make sure to take stock of your investments and see how it weighs against your risk profile. You may want to take a risk with your assets to achieve greater growth, or dial back on risks when approaching your retirement.
How much would it cost to transfer my pension? For those on defined contribution pensions, switching to a new provider may come with transfer charges. If you are thinking of transferring your pension, be sure to weight up the advantages of transferring over to a new pension scheme.
If you want your pension reviewed by a pension expert, get in touch with Bespoke Support Network who can find you the perfect professional for your query.
May 22, 2017
Starting up a business can be a stressful and difficult time for all those involved, meaning things get lost and forgotten in the beginning. One thing that is usually overlooked during the set up is insurance for small businesses.
With over 80 companies being set up an hour, it’s important to understand that your business has different needs to the many others being started and so you will need specific insurance to cover it.
A good business insurance policy will cover your business in the event of anything going wrong and can also foot the bill for things like compensation payments and any legal costs.
Bespoke Support Network’s insurance experts have put together a list of the insurances a small business would need:
Professional Indemnity Insurance
This type of insurance covers the work you provide. For example, if you give advice or a service that customers are required to pay for, they could sue you or claim compensation if they feel using your service has cost them or they made a mistake.
Without Professional Indemnity Insurance, the expert legal support required to defend the claim against your company as well as any compensation to settle it could be expensive.
Public Liability Insurance
If you are running a home-workplace visited by the public or are visiting others on business, public liability cover could be for you. This insurance will cover you in the event someone is injured on your property and makes a claim, or if you accidentally damage a person’s property.
Launching a business these days is often tied in with technology. For example, most business will invest in buying computers, software, phones and any specialist equipment you need. If you are working from home, your new business equipment will not be covered under your home policy so be sure to have your business equipment covered.
As the founder of this brand new company, you will be the only one keeping this business afloat. In the event that you are unable to work due to injury, your income would be affected and so you should add personal accident cover to your business insurance. The insurance provider should be able to pay your wage until you recover from your injuries.
Are you starting up a new business? Bespoke Support Network Essex can find the right professionals to provide you with business advice. We have experts in all sectors; from financial planning to wills and probate services Essex.
Call our team on 0300 303 3441 to find out more about our services.
May 20, 2017
It’s officially Dementia Awareness week, a 7-day campaign that is run to encourage others to raise awareness around one of the biggest causes of death. The campaign is supported by Alzheimer’s Society and includes both national and local fundraising events throughout the week, alongside providing support and advice for families experiencing dementia.
To support this cause, we thought we would highlight the issues that this ailment can cause you and your loved ones and explain how organising important matters now, can let you enjoy the time you have with your family.
Writing a will is one of these significant issues, that left untouched can cause detrimental effects on your loved ones if it hasn’t been arranged correctly. To write a will an individual will need to be of ‘sound mind’ to ensure that it isn’t contested.
If your will is challenged it could end up leaving your wishes in the hands of the government. This is where your will has become ‘intestate’ and invalid.
The question is, how is the term ‘sound mind’ calculated and what does an individual need to know or understand to be able to write a will.
- You will need to understand the nature of the act and its effects
- Understand the extent of the property that you are disposing
- And not be effected by any ‘disorder to the mind’, that could prevent their sense of right.
It has never been more important than now to write your will as soon as possible.
Unfortunately, you never know what’s around the corner and even though it isn’t something you want to think about, the unthinkable can occur when you least expect it.
People are often put off writing a will because of the time it can take and the money it can cost. Here at Bespoke Support Network we offer a non-obligatory service so that you can talk to an advisor about any concerns you may have. We can outline the services we offer and then it’s entirely up to you whether you wish to continue. Contact us today for more information and a member of our team will be happy to help.
May 18, 2017
When setting up a brand-new business, you will be preparing for the big launch of your company. In the hustle and bustle of beginning your business, you may miss out on some important processes such as bookkeeping or business insurance.
Insurance is crucial to running your company but it can be hard to see the benefits of it until disaster strikes and you need to make a claim. Business insurance acts as a safety net to ensure you and your business can cope and will protect your business’s assets.
There are 7 types of insurance you would need to consider when covering your business.
- Professional Liability Insurance
- Property Insurance
- Workers’ Compensation Insurance
- Home-Based Business Insurance
- Product Liability Insurance
- Company Vehicle Insurance
- Business Interruption Insurance
Once your business is up and running, keeping track of your finances and taxes gets more difficult to cope with. That’s why having an accountant to monitor your outgoings and profits makes all the difference! Not only can they save you time and money, accountants will provide you a tailored financial service that is designed to meet your individual requirements.
Now that you’re self-employed, you will no longer have the benefits of a work place pension and other workplace benefits. Instead, you will need to find schemes that benefit the self-employed, or even set up your own pension.
If you are hiring employees you will also need to make sure you have a scheme in place to pay into their workplace pensions.
Whether it’s paying your bills or managing your diary, life can be made so much easier with virtual assistants. With your very own virtual PA, you can carry on running your business while your personal assistant manages invoicing, appointment booking and answer the phones.
Are you a new business? Bespoke Support Network can find the right professionals to help with your financial and business enquiries. Call our team on 0300 303 3441 to find out more about our services.
May 16, 2017
As a support network BSN offers advice and assistance to many businesses across the UK. However, it’s important to note that we can help individuals too. There are many services that could be of use to you and help you in some way should you need it.
Below are just a few of the services we can offer you as an individual today:
Life insurance – Taking out a life insurance policy may not seem like your most urgent task but it can protect your loved ones should the unthinkable occur. It can be hard to see the benefits of the insurance until someone needs to make a claim but it’s important nevertheless.
At BSN we can help you to find the right policy for you. We will offer advice in understanding all terms and conditions, save time in your search and ultimately ensure that you and your family receive full protection should they need it.
Will’s and estate planning – Again, another task that you may think you can keep putting off but in reality, is more important now than ever.
Writing a will can be confusing and taxing but our trusted professionals are here to help. They can go through the process with you step by step and make sure your will is fair and to your wishes. Don’t take the risk of doing it yourself and leave your loved ones with nothing but an invalid will.
Accountancy – If you are self-employed your accounts can become more than confusing rather quickly. Don’t let it get to the point where you no longer know what the pile of invoices on your desk mean, get in touch today. We will be able to listen to your needs and tailor our financial experts to meet your individual requirements.
Financial advice – This may seem like such a simple task but if you get yourself in a sticky situation or need to know if an investment or risk is worth taking, we can help. We will be able to put you in touch with contacts that will measure the risk you will be taking and recommend their professional opinion.
With these being just a small selection of the services we can offer you it’s safe to say we can help you in a number of ways. If you would like to speak to one of our advisors then get in touch by calling 0300 303 3441 today.
May 15, 2017
These days it’s so easy for people to fall into the pattern of relying on a search engine to answer their queries. However, as efficient as this may seem there is always more than meets the eye and more often than not we tend to sign up for things that weren’t quite what we expected.
When you are considering important matters such as pensions, wills, life insurance and financial advice, it’s important to know where the information is coming from. Here at Bespoke Support Network we have a strict due diligence with each firm that we work with to ensure we offer you the best trusted professionals.
Below are some of the reasons we believe our services will benefit you:
Personal approach – Instead of an automated response on a local site, we can offer you a personal approach to what can be a confusing or difficult issue. We will take the time to understand the services you need and why, so that we can choose the most suited contact to put you in touch with.
No nasty traps – With our service you won’t find endless emails in your inbox for products you never needed, your information stays securely with us and isn’t passed on to any third parties. Not only will your personal information stay private but we promise that you will encounter no extra fees once you’ve been put in touch with our trusted contacts.
Time sensitive – You will no longer have to wait around for an email response once you have put your contact details into a website. Simply pick up the phone and we will be on hand to arrange a meeting as soon as possible. We have colleagues managing the phone at all times so you should always receive a friendly response from a member of our team.
These are just a few of the reasons that we believe working with our personal approach to financial support and advice will work you.
If you would like to hear more information about the services we offer or have a query then please do get in touch with us. Call us on 0300 303 3441.
May 14, 2017
When it comes to taking your pension benefits, you have the option to either withdraw some or your entire pension as a cash sum. The amount you are given will depend on whether your pension is a Defined Contribution scheme or a Defined Benefit scheme.
From a Defined Benefit scheme you should have the option to take a cash lump sum that is separate from your pension. If this is the case, you generally have to take the pension and the cash at the same time but you may have the option to exchange some of your pension for more money.
When you open your pension pot with a Defined Contribution scheme you can usually choose to take some of the money in the pot as a cash lump sum. If you choose to take some of your pot as a cash lump sum, the income you get from the pot will be less than usual.
Still not sure what to expect from your Final Salary Pension? Bespoke Support Network’s team of financial advisors have helped people just like you.
Paul was concerned about his monthly payments and not sure whether he could get a tax-free lump sum for when he retires. As well as this, he was concerned his pension would go back to his pension provider rather than his immediate family when he passed away.
Our financial advisors took the time to get to know Paul’s situation and suggest that he looked at other options with the help of the advisor.
At the end of Paul’s time with our advisors, his income was 19% higher than it would have been previously and his surviving spouse will get the same amount of money when he dies to maintain their lifestyle. Upon his spouse’s death, their children would inherit an estimated £250,000 tax-free
From consultation to risk assessment, Bespoke Support Network’s advisors will liaise with your pension provider on behalf of you and your family. You will then have a review meeting with our advisor to discuss what your future will look like should you take our advice. An annual meeting will then be held to provide on-going support for you and your family to adapt to the changing financial environment.
To find out more information about our financial services, call our team on 0300 303 3441.