Financial Advice for Medical Professionals
Expert Financial Advice For Doctors
We understand that time constraints can be a major challenge for medical professionals. Whether you are a consultant, dentist, GP, surgeon or other medical professional, your work is likely to be very demanding and you are unlikely to have much time to manage your own finances.
Our financial advisers have an expert understanding of the unique financial situations that medical professionals face and can offer tailored financial advice to doctors, surgeons, and consultants.
Whether you work in the NHS, in a private medical practice or a combination of both, a financial adviser at Four Wealth Management can work with you to create a financial plan tailored to help you meet your financial goals.
We will also help you to navigate the various tax pitfalls and help you to fully utilise all of the tax reliefs and allowances that you are entitled to. We stay up to date with the constantly changing government rules and regulations that could impact your finances and we let you know if you need to make any changes to your portfolio.
How we can help Medical Professionals
Retirement Planning
The majority of medical professionals that we meet are passionate about working in the medical industry. However, there will be a time in life when you want to start winding down or stop working all together.
Whatever, exit route you are considering, a financial adviser at Four Wealth Management can help you to plan in advance for your eventual retirement. Financial advice can help you to grow your pension pot and make the most of your retirement.
We can help medical professionals navigate complex NHS pension schemes and help them to work out how to make the most of their pension benefits. You may also have a mix of pension arrangements from private or academic work to factor in when it comes to planning your retirement.
The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.
Protect your income and assets
As a medical professional, it is easy to get caught up with your job and not consider protecting your own wealth. You might not have considered what would happen to your finances if you were to get ill and need time off work. Or you may not have thought about what might happen if you or your partner were to die.
At Four Wealth Management, we can make sure you have the right protection policies in place including life insurance, critical illness insurance and income protection. This will give you and your family peace of mind and financial security.
Reducing Inheritance Tax
Inheritance Tax is 40% on any of your assets over the value of the Nil Rate Band of £325,000 when you die. You may also benefit from the Residence Nil Rate Band of an additional £175,000 if you leave your house to a direct descendant.
Mitigating or even eliminating an Inheritance Tax liability is about proactive financial planning. You can make sure that assets are held outside of your estate or start utilising your annual gifting exemptions and allowances to reduce the value of your estate over time. At Four Wealth Management, we can work with you and your family to create an Estate Plan to help you leave more to your loved ones.
The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances.
Our financial advisers can come to your home address for a meeting, or you can meet at one of our offices in Bristol, Cirencester, London or Cardiff. Alternatively meetings can be on zoom. All meetings can be on a day/time that works for you. Book a meeting online now or call us on 0117 973 0500.
Book a no obligation meeting
If you have any queries or would like to arrange a face to face meeting with an adviser for a no obligation review of your personal finances, simply book a call back using the form below. Alternatively, you can call us on 0117 973 0500.
