Andy Gait

About

ANDY GAIT BA (Hons), APFS - Chartered Financial Planner Areas of Advice: Andy has focused his learning on the various aspects of pension legislation. His clients are mainly business people whose pension funds form part of their overall retirement provision. Often his clients look to phase in retirement over a 5 to 10 year period, gradually reducing their workload and increasing their pursuit of holidays and pastimes. For example, Andy has assisted a number of solicitors from a position of partner, through consultancy, into full retirement. Many of his clients have built up surplus capital that is surplus to their own needs and advice therefore expands in to inheritance tax planning. Andy believes that the purchase of an annuity with accumulated pension funds is the starting point for advice. However, there are a number of options that should be fully investigated and discussed to ensure that the most appropriate option is selected with regard to an individual's wider circumstances and objectives. Andy has assisted deputies and trustees with regard to the investment of monies awarded by the courts or where an individual is deemed by the court to be unable to look after himself/herself financially. Professional Background: Joined Friends Provident Life Assurance Company as a graduate trainee in December 1989. Promoted to look after a panel of large regional and national Independent Financial Advisors, located in the city centre of Cardiff. In 1996 he joined Equitable Life Assurance Society as a company representative providing advice to high net worth individuals until Equitable closed to new business in December 2000. Helped to set up Gould Financial Planning in 2001 and following the sale of the business to Perspective Financial Group in 2023 he has remained as a financial planner. Fees: The financial planning fee is expected to be between £1,500 and £4,000 depending on the complexity of the work, and will always be confirmed and accepted by the client prior to work being completed. The financial planning fee is cancelled (if lower) on implementing the recommended plan and capital invested through Perspective. The implementation fee is a % of funds under supervision starting at 2% for funds up to £150,000, 1.5% of funds between £150,001 and £500,000, 1% on funds between £500,001 and £1 million, 0.5% on funds between £1 million and £1.5 million, and 0.25% of funds over £1.5 million. For example funds under supervision of £1.2 million would have an implementation fee of 1.19% or £14,250. Ongoing fees are calculated on a tiered basis dependent on the size of funds under supervision and the service model selected. There are 3 service models: (a) 'Planning' (maximum charge 0.5% per annum of funds under supervision) which is appropriate for clients in the accumulation phase of life (i.e. still working). (b) 'Management' (maximum charge 0.75% per annum of funds under supervision) which is appropriate for clients approaching or in the decumulation phase of life (i.e. retirement). (c) 'Stewardship' (maximum charge 1% per annum of funds under supervision) which is appropriate for clients with more complex requirements (for example inheritance tax planning or more complex tax planning).