Ifamax Wealth Management FAQs: Bristol & South West Business Owners

Absolutely. We specialise in taking the weight off your shoulders. Our dedicated financial planners will work closely with you to understand your goals and create a personalised wealth management strategy that aligns with your future goals.

We offer a comprehensive suite of services tailored to the needs of Bristol business owners, including:

Profit Extraction Strategies: Optimising how you withdraw profits from your business to maximise personal wealth and minimise tax implications.

Retirement Planning: Developing a clear roadmap to secure your financial future after you exit your business.

Tax Planning: Maximising tax allowances and utilising tax reliefs to minimise your overall tax burden. This includes exploring tax-efficient investment strategies like pensions to optimise your financial growth.

Investment Planning: Growing your wealth through a diversified investment portfolio designed for your risk tolerance and long-term goals.

Business Succession Planning: Ensuring a smooth transition for your business and your family's financial security in the event of retirement or sale.

Protection Insurance (such as life cover): Safeguarding your business and family's financial well-being in the face of unforeseen circumstances.

Wealth Distribution While Alive: Developing strategies to share your wealth with loved ones throughout your lifetime in a tax-efficient manner.

Tax Efficient Means of Funding Your Business: Exploring financial options that minimise your tax burden while ensuring your business has the capital it needs to thrive.

Estate Planning: Creating a plan to ensure your assets are distributed according to your wishes after your passing, while minimising inheritance tax liabilities for your beneficiaries.

Balancing Your Wealth & Business Needs:

As a business owner, you understand the importance of juggling multiple priorities. You need to protect and grow your personal assets while simultaneously ensuring your business has the capital to flourish. This can feel like a constant balancing act. Here's where an experienced wealth management advisor, taking an unbiased approach, can make a significant difference. We'll work with you to develop a comprehensive strategy that considers both your personal financial goals and your business's needs.

We will explain our fees long in advance of you potentially coming on board as a client. We do not charge any fees for your initial meeting or report writing. Once on board our fees are deducted monthly in arrears as a percentage of assets under our management. For further information on how this works, please feel free to contact us. During your initial free consultation, we'll discuss fees upfront so you can make informed decisions.

We specialise in working with Bristol and surrounding area business owners and self-made individuals. We understand the unique challenges you face and have a proven track record of helping local entrepreneurs achieve their financial goals. Our team is highly experienced, qualified, and passionate about helping you succeed.

We offer a free, no-obligation consultation to discuss your financial situation and see if we're a good fit. Contact us today to schedule your initial meeting and take the first step towards a secure financial future.

While national firms have their merits, there are significant advantages to partnering with a local wealth manager like Ifamax. Here's why:

Deeper Understanding of Your Community: We understand the local Bristol economy, business landscape, and tax environment. This allows us to tailor your wealth management strategy to the unique opportunities and challenges you face as a South West business owner.

Personalised Service & Relationships: At Ifamax, you're not just another client. We take the time to build strong relationships with our clients, getting to know your individual goals, aspirations, and concerns. This allows us to provide a more personalised service that caters to your specific needs.

Accessibility & Convenience: Having a local wealth manager means you have easier access for meetings and consultations. This can be especially helpful if you have complex financial questions or require ongoing support. We have a new office in Central Bristol where all of our clients and prospective clients are welcome to visit us. https://www.ifamax.com/news-content/ifamax-wealth-management-bristol-has-a-new-home

Community Focus: Local wealth managers are often invested in the success of their community. We're likely to share your network and understand the local philanthropic landscape, making us valuable partners in achieving your financial and charitable goals.

By choosing Ifamax, you gain trusted advisors with the expertise to navigate your financial journey, combined with the local knowledge and personalised touch that sets us apart.

All financial advisers have to be approved or authorised by The Financial Conduct Authority (FCA). You can find any advice firm or advisor on the ‘Financial Services Register’ on the FCA website.

Yes, we are totally Independent.

If you are getting advice about investing your money, you need to know there are two different types of financial advisers – independent and restricted – and this can affect the advice you are given. Independent advisers offer the full range of financial products and providers available, while restricted advisers offer restricted advice, focusing on a limited selection of products and/or providers. An adviser or firm has to tell you in writing whether they offer independent or restricted advice, but if you are not sure what they offer you should ask for more information.

An adviser or firm that provides independent advice is able to consider and recommend all types of retail investment products that could meet your needs and objectives. Independent advisers will also consider products from all firms across the market, and have to give unbiased and unrestricted advice. An independent adviser may also be called an 'independent financial adviser' or 'IFA'.

A restricted adviser or firm can only recommend certain products and providers. The adviser or firm has to clearly explain the nature of the restriction. If you are not sure you should ask for further information, but some examples of restricted advice are where:

• The adviser works with one product provider and only considers products that company offers

• The adviser considers products from several – but not all – product providers

• The adviser can recommend one or some types of products, but not all retail investment products

• The adviser has chosen to focus on a particular market, such as pensions, and considers products from all providers within that market

Restricted advisers and firms cannot describe the advice they offer as 'independent'.

If you are only given general information about one or more investment products, or have products or related terms explained to you, you may have received guidance rather than advice. This is sometimes also called an information-only or non-advice service. The main difference between guidance and advice is that you decide what product to buy without having one or more recommended to you.

Buying an investment product in this way might reduce the cost involved but it also means you may not have access to the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong. If you are not sure whether you are receiving guidance or advice, and therefore how you would be protected, you should ask the adviser or firm to explain.

Ifamax is completely independent and provides advice from the whole market.

We like to meet our clients twice a year, but our door is always open if more meetings are required. Typically in the year of someone's retirement we may well meet 3-4 times as we work through options as well. We like to call our clients when there is any significant event that we feel they need to be aware of. We also send out a newsletter once a month.

Yes. We often send out examples when exploring ideas around income tax or inheritance tax planning.

Nothing! We do not handle client money at all and client assets are completely separate from us. We have built a small team of very well qualified advisers. We take a team-based approach to our work, so while there may be one lead person dealing with you, there will be someone else who is qualified backing them up.