Westside Article – October 2020

No matter how large or how modest, everyone has an estate and you will want to control how it is administered to the people or organisations you care most about. There are lots of points to consider such as making a will, appointing a Lasting Power of Attorney or creating the right Trust to protect your assets and help your beneficiaries. It is important to plan ahead with confidence in order to minimise the tax burden for your family and loved ones in the future.

Many people will hold considerable investments and share portfolios that form part of their estate on death. It is possible to transfer some or all of those assets into alternative vehicles that fall outside of your estate after 2 years.  You can also retain access to the capital in case you need it. This is achieved by utilising business property relief which results in 100% relief from inheritance tax on the amount invested after a maximum of two years.

Business owners can gain business relief which makes their business exempt. However, when the business is sold, the sale proceeds are inside their estate for Inheritance Tax and 40% tax beckons. It is possible to re-invest into qualifying investments where the previous business reliefs are retained.

If your estate is valued at over £1M, as many increasingly are, then a Inheritance Tax Review is advisable.  Here’s an example of how it works:

A couple own a house worth £700K.  They also have –

ISA’s                                                £100K

Share portfolio                            £350K

Buy-To-Let houses                    £500K

Their total estate comes to £1.65M.  Assuming they have 2 Nil-rate bands of £325K each (£650K) plus a main residence nil-rate band of £175K each (£350K), it is possible for most people to pass on £1M of their estate tax free. In this example there is a £650K excess taxed at 40% so the tax bill would be £260K.

If the above clients transferred their existing share portfolio of £350K into an exempt asset, it would reduce their Inheritance Tax bill by £140K and they would still have control of their money, be able to access it at any time and receive a stable return.

More and more people are seeing the increase in house prices pushing their estate values higher and higher. The Government raise billions each year from people sleep walking into higher and higher taxes. It is time to act now.

Call us on 0114 235 3500 or email us at advice@hamnettwealth.com for a free consultation to find out how we can help you.  Our recommendations will take into account all of your investments, retirement and protection strategies so that your estate planning fits your goals.

You can read this month’s Westside online at https://www.rmcmedia.co.uk/magazines/westside/

Westside Article – July 2020

We hope all Westside readers are keeping well during this difficult time. The affect of Covid-19 is still being felt world-wide and financial markets have been volatile, as you would expect in times of uncertainty, with many sectors and funds being adversely impacted.

At Hamnett Wealth Management, our investment philosophy has always been to look to the long term.  We have never attempted to predict the immediate path of the stock markets and we are not about to start now.  Over the last 30 years, we have witnessed several global crises. Each one different from the last. However, what we have learnt from all of them is to keep calm and endure.

There will be those of you who want to ‘do something’ but often the best, and hardest, option is to do nothing. Whilst uncertainty can create anxiety, don’t be tempted to make any rash decisions.  We are in constant contact with the fund management groups and the over-riding sentiment that we are hearing is that Covid-19 will have an impact on all businesses – some more than others.   Therefore we are currently looking at the possibilities and focusing on those companies that can weather this storm and will continue to adjust our portfolios over time.

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We are pleased to welcome a new Advisor to the team, Erica Dietsch.  Erica is an extremely experienced Financial Advisor who has worked with individuals and small businesses on all aspects of financial planning. 

Erica said: “I am looking forward to joining the Hamnett Wealth team. When the opportunity arose, I jumped at the chance to help Jonathan and Phil grow the business. I have always admired the way that they operate and how they have built a loyal base of clients who rely on them for managing their finances.  They both share my passion for providing clear, concise and transparent independent financial advice.”

Jonathan Rowley, Director of Hamnett Wealth, said: “I have known Erica both personally and professionally for many years. When we needed to expand the team, I knew that Erica would be the ideal person to help us grow our advice capabilities.  Erica is well known to many in Sheffield, having worked for the last 12 years at a local firm of Chartered Accountants. Erica has a very personable approach and I am sure she will fit into the existing team well.”

If you would like one of our Advisors to review your finances, are unsure of how your portfolio is performing, or want to look at alternate ways to get a good return on your savings and pensions, please call us on 0114 235 3500 for a free initial meeting.  Our office is operating as normal but we can also offer appointments by telephone or Facetime, Microsoft teams & Zoom.

You can read this month’s Westside online at https://www.rmcmedia.co.uk/magazines/westside/

Westside Article – Dec 2019

The end of 2019 is nearly here and what a year it has been.  We have celebrated our 30th anniversary, launched our new website, supported various charitable events and, of course, continued to provide unbiased, reliable and trusted personal financial and investment advice to all of our clients. 

Looking further afield, we’ve had a prorogued Parliament, the country feels divided, there is slow economic growth and a General Election is imminent (result unknown at time of print)….and we still don’t know what’s happening with Brexit!

Whilst uncertainty can create anxiety, our advice has remained the same throughout –  Brace for Brexit but don’t be tempted to make any rash decisions. It’s important to remember that when the financial landscape changes, to not respond would be a missed opportunity.  Whatever the result of the General Election, it is important to maximise your tax free savings, utilise all of your allowances and ensure your investments are positioned for 2020 and beyond. 

We suggest taking some time over the festive period to ask yourself the following questions:

1.Are you maximising your tax free saving allowances?

If you’ve money to save, but haven’t used up your ISA allowance, make sure you take advantage of this tax-free form of investment.  Equally, ensure you’re making the most of allowances on your pension contributions to cut your tax bill.

2.  Are you in control of your pension arrangements?

Whether you’re looking to set up a pension, save money on annual management charges or to reduce fees on expensive pension plans, review your current pension arrangements to see if they’re likely to help you achieve your retirement goals.

3. When was the last time you reviewed your investments?

Markets have been volatile over the last 12 months. With fast changing political events affecting markets, it‘s imperative that your portfolio and pensions are strategically invested to profit from uncertainty and protect yourself from market shocks.

4. Are you prepared for the future?

Safeguard against unexpected future events spoiling your final wishes by setting up a trust alongside your will.  Trusts come in a variety of forms and can help lower potential inheritance tax bills as well as give extra guarantees  that loved ones will be looked after. Appoint a lasting power of attorney so loved ones can act in accordance with your best interests and wishes as they are now.  There are two different lasting powers of attorney to consider – one to look after your health and the other your finances.

If you would like to review your finances, are unsure of how your portfolio is performing, are concerned that you are paying too much for a poor service or just want a second opinion, please call us on 0114 235 3500 for a free initial meeting. We can then review your current plans and discuss how we can help.

Hamnett Wealth Management would like to take this opportunity to wish all of our clients, professional connections and Westside Readers a very Merry Christmas and a Happy New Year!  Our office closes at 5pm on Friday 20th December and reopens at 9.30am on Thursday 2nd January. 

Westside Article – Nov 2019

Hamnett Wealth Management has launched a brand new website to mark the 30th anniversary of the business.  The new site has a modern look and feel and offers both a user-friendly navigation and a responsive design on mobile platforms.

The new website provides clear, uncomplicated information on the financial products and services we offer and is designed to appeal to both our current clients as well as a wider target market. You can also learn more about the Hamnett Wealth team and keep up to date with our latest news.

Jonathan Rowley, Director and Chartered Independent Financial Advisor, said:  “Financial planning is one of the most important decisions you can make so we wanted to make sure that our new website conveyed the friendly approach for which we are renowned. After all, being client focused is ultimately what has led to our longevity.”

Take a look for yourself at www.hamnettwealth.com  and let us know what you think.  We’d love to hear your hear your feedback.  Please email your comments to advice@hamnettwealth.com

Hamnett Wealth Management have been providing unbiased, reliable and trusted personal financial and investment advice since 1989.   The business has continually evolved over the last 30 years, changing with the times and keeping pace with the shifting economic landscape.  However, one thing that hasn’t changed are the core principles of trust and good service. With a wealth of experience under our belts, and expertise in a broad range of financial products and services, our clients entrust their financial future with us.

If you feel that you would like to review your finances, are unsure of how your portfolio is performing, are  concerned that you are paying too much for a poor service or just want a second opinion, please call us on 0114 235 3500 for a free initial meeting. We can then review your current plans and discuss how we can help.

We will also be celebrating our anniversary by making a donation to Totley Library. We are strong supporters of our local community and know that many of our clients value this important community resource that is run by volunteers.

Please feel free to call in and celebrate our 30th anniversary with us. The door is always open and the kettle is always on. We are based at 160 Baslow Road, Totley, Sheffield S17 4DR.

Hamnett Wealth Management would like to take this opportunity to thank all of our clients, professional connections and friends who have played a significant part in our journey so far.

Westside Article – Oct 2019

Hamnett Wealth Management have been providing unbiased, reliable and trusted personal financial and investment advice since 1989, when the business was established by Peter Hamnett.

The business has continually evolved over the last 30 years, changing with the times and keeping pace with the shifting economic landscape. We have had to adapt to meet the constant changes in legislation and regulatory regimes. Hamnett Wealth in 2019 bears very little resemblance to the business that Peter set up.

However, one thing that hasn’t changed are the core principles of trust and good service. With a wealth of experience under our belts, and expertise in a broad range of financial products and services, our clients entrust their financial future with us.

Now managed by Phil Smith, who joined in 1996 and Jonathan Rowley, who joined in 2002, the team have built long-lasting relationships with clients and families, some of whom have been dealing with the company for the last 30years. Our client-centric approach is ultimately what has led to our longevity.

Last year was a particularly important for the company. We started 2018 by being awarded the prestigious ‘Chartered Financial Planners’ title by the Chartered Insurance Institute. Chartered status is an exclusive title only awarded to firms which meet rigorous criteria relating to professionalism and capability with fewer than 700 firms having achieved Chartered status, an indication that this highly exclusive award is reserved for the leading firms within the financial advice market.

Towards the end of 2018, Jonathan achieved Later Life Adviser Accreditation from the Society of Later Life Advisers (SOLLA). SOLLA helps people in finding trusted accredited financial advisers who understand financial needs in later life.

In 2019, to mark our 30th anniversary, we will be launching our new website. The new site has a modern look and has been designed to provide you with a user-friendly experience. You can find out more about our values, the range of financial services we offer and learn more about the Hamnett Wealth team. The new site also has improved navigation and functionality throughout and you can stay informed with our latest news.

Along with the new website, we will also celebrate our anniversary by making a donation to Totley Library. We are strong supporters of our local community and know that many of our clients value this important community resource that is run by volunteers.

Please feel free to call in and celebrate our 30th anniversary with us. The door is always open and the kettle is always on. We are based at 160 Baslow Road, Totley, Sheffield S17 4DR.

Hamnett Wealth Management would like to take this opportunity to thank all of our clients, professional connections and friends who have played a significant part in our journey so far.

Westside Article – May 2019

Hamnett Wealth Management is a local, Chartered Independent Financial Advice company, based in south-west Sheffield, which has been helping people since 1989.  Our business is small enough to care about each and every one of our valued clients, building trust and long-lasting relationships, yet large enough to provide specialist financial planning advice on pensions, investments, inheritance tax and estate planning needs.

Our Chartered status means we have satisfied rigorous criteria relating to professional qualifications and ethical good practice. It means you can be confident that you are dealing with one of the UK’s leading firms that is wholly committed to providing you with the best possible advice, service and support.

At Hamnett Wealth Management you’re personally looked after by one of our four experienced, qualified and Independent Financial Advisors (IFAs) who will be dedicated to managing your individual requirements.

Being Independent means they are not restricted or limited in which products or providers they recommend.

Our IFAS are:

Jonathan Rowley has been advising clients for nearly 25 years and has been with Hamnett Wealth Management since 2002  Jonathan is also a SOLLA Accredited Later Life Adviser.  SOLLA helps people to find trusted accredited financial advisers who understand financial needs in later life.

Phil Smith joined the company in 1996 and, in that time, has dealt with all different kinds of clients, many of whom he still looks after today.  Phil specialises in advising clients on investments, pensions and inheritance tax planning.

Louise Gower came to Hamnett Wealth Management in 2009 and is an accredited member of Resolution which specialises in Pensions and Divorce.

Graham Walton started with the company in 2003 and focuses on green and ethical investments.

Our team of IFAs are backed up by professional support from our administration team who are all based in our Totley Office.  These are:

Lisa Richards – Business Manager

Louise Myers – Administrator

Jayne Briggs-Willis – Administrator

Alex Brown – Administrator

Some areas we deal with can be financially complex but we all speak in plain English and explain everything comprehensively.  We encourage you to ask as many questions as you need until you’re comfortable and able to make an informed decision as to how you wish to progress.

Please call the team on 0114 235 3500 for a free initial review meeting without obligation.  Alternatively, call in and meet us at 160 Baslow Road, Totley, Sheffield S17 4DR.

Westside Article – April 2019

April 6th 2019 sees the start of the new tax year and is an excellent time to spring clean your financial arrangements.  Here’s Hamnett Wealth Management’s suggested to do list:

1. Maximise your tax-free saving allowances

If you’ve money to save, but haven’t used up your ISA allowance, make sure you take advantage of this tax-free form of investment.  Equally, ensure you’re making the most of allowances on your pension contributions to cut your tax bill.

2. Take control of your pension arrangements

Whether you’re looking to set up a pension, save money on annual management charges or to reduce fees on expensive pension plans, review your current pension arrangements to see if they’re likely to help you achieve your retirement goals.

3. Review your investments

Markets have been volatile over the last 12 months. With fast changing political events affecting markets, it‘s imperative that your portfolio and pensions are strategically invested to profit from uncertainty and protect yourself from market shocks.

4. Plan for the future

Safeguard against unexpected future events spoiling your final wishes by setting up a trust alongside your will.  Trusts come in a variety of forms and can help lower potential inheritance tax bills as well as give extra guarantees  that loved ones will be looked after.

Appoint a lasting power of attorney so loved ones can act in accordance with your best interests and wishes as they are now.  There are two different lasting powers of attorney to consider – one to look after your health and the other your finances.

5. Brace for Brexit but…

…don’t be tempted to make any rash decisions. It’s important to remember that when the financial landscape changes, to not respond would be a missed opportunity. We recommend you seek advice from a professional Independent Financial Adviser to review your investments and ensure that your current financial plan is still working for you now and will continue to do so in the future.

Hamnett Wealth Management are Chartered Independent Financial Advisers who offer unbiased, expert financial planning advice and a working towards becoming a dementia friendly business.  Jonathan Rowley, Director and Chartered Financial Planner, is also an associate member of SOLLA. SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

We offer a free initial face-to-face consultation where we’ll assess your needs and explain how we can help. You’re always welcome to call into our office on Baslow Road, Totley or we can visit you in the comfort of your own home.  Call us now on 0114 235 3500.

Westside Article – March 2019

Entering the new tax year is a great time to spring clean your finances. Here’s Hamnett Wealth Management’s suggested checklist:

1. Maximise your tax-free saving allowances

If you’ve money to save, but haven’t used up your ISA allowance, make sure you take advantage of this tax-free form of investment.  Equally, ensure you’re making the most of allowances on your pension contributions to cut your tax bill.

2. Take control of your pension arrangements

Whether you’re looking to set up a pension, save money on annual management charges or to reduce fees on expensive pension plans, review your current pension arrangements to see if they’re likely to help you achieve your retirement goals.

3. Review your investments

Last year saw increased volatility and this year could be just as interesting. This has meant that some previous flagship funds have fallen from grace. These new “Dog funds” have been named and shamed for charging high fees and delivering well below average performance. We are happy to review your funds and ensure that they are in line with your objectives and attitude to risk.

4. Plan for the future

Safeguard against unexpected future events spoiling your final wishes by setting up a trust alongside your will.  Trusts come in a variety of forms and can help lower potential inheritance tax bills as well as give extra guarantees  that loved ones will be looked after.

Appoint a lasting power of attorney so loved ones can act in accordance with your best interests and wishes as they are now.  There are two different lasting powers of attorney to consider – one to look after your health and the other your finances.

5. Get in touch

Have you lost touch with your previous advisor? Did you use a Bank who have since withdrawn from offering advice? Has your advisor lost their Independent status and become restricted in what they can provide to you?

Hamnett Wealth Management are Chartered Independent Financial Advisers who offer unbiased, expert financial planning advice and are working towards becoming a dementia friendly business.

Jonathan Rowley, Director and Chartered Financial Planner, is also an associate member of SOLLA. SOLLA helps people and their families in finding trusted accredited financial advisers who understand financial needs in later life.

We offer a free initial face-to-face consultation where we’ll assess your needs and explain how we can help. You’re always welcome to call into our office on Baslow Road, Totley or we can visit you in the comfort of your own home.  Call us now on: 0114 235 3500 or email us at: advice@advice@hamnettwealth.com

Westside Article – December 2018

Jonathan Rowley, Chartered Financial Planner and Director of Hamnett Wealth Management, has recently achieved Later Life Adviser Accreditation from the Society of Later Life Advisers (SOLLA).

SOLLA helps people in finding trusted accredited financial advisers who understand financial needs in later life. Established in 2008 as a not for profit organisation, it is dedicated to higher standards and accessibility to regulated financial advice for older people and their families.

Having been developed over a number of years, the Later Life Adviser Accreditation (LLAA) has now become established as the industry standard of excellence for those advising in the later life market. In addition to being a stand-alone award, it is also the basis of membership of the Society of Later Life Advisers.

Jonathan has been advising clients for over 26 years and is an Independent Financial Adviser which means he’s not restricted or limited in which products or providers he recommends.

Jonathan said: “I am delighted to be a SOLLA Accredited Later Life Adviser. Professional qualifications, whilst essential, don’t provide the full picture of my expertise. Taking the steps to become independently accredited provides my clients with the added reassurance that I offer the practical help and guidance they need to help them make the right decisions at the right time.  I have many older clients who I advise on retirement planning, saving and investment planning, tax matters, and estate and wealth planning.”

Hamnett Wealth Management have been providing unbiased, personal financial and investment advice since 1988.  We offer a range of services for individuals, business owners and trustees across a number of financial planning areas.

Take control of your financial future today with Hamnett Wealth Management.  We offer a free initial face-to-face consultation where we will assess your needs and explain how we can help. Call us now on: 0114 235 3500 or email us at: advice@hamnettwealth.com


Everyone at Hamnett Wealth Management would like to wish all readers of Westside a very Merry Christmas and a prosperous New Year.

Westside Article – Oct 2018

Many people reach retirement before they realise they have not made sufficient provisions. Here are 3 tips to avoid a shortfall:

  1. Consider consolidating your pensions to a single provider if you have more than one. This will make it easier from an administrative perspective as it means you’ll just have one account to log in to, one set of investments to check and one lot of charges to monitor. Before you do though, check if your existing plans come with any guarantees or exit fees.
  2. Review the funds you hold in your pension schemes. Billions of pounds are invested in underperforming funds but your provider may never have informed you how bad they are. As a member of a pension scheme, you have a right to be given certain information about what you have signed up to without having to ask for it. If you’re in a defined benefit scheme, the scheme must send you, every year, a summary funding statement. This gives you important details about the ability of the scheme to pay the benefits due under the scheme.
  3. Reunite yourself with your money. If you have lost touch with your previous pension providers then the Pension Tracing Service is a great way to track down their contact details. You need the name of an employer or a pension provider to use the service. It will provide you with the contact details for the provider however it won’t tell you whether you have a pension, or what its value is. Find out more at www.gov.uk

For an independent review of your pensions and the underlying funds, please contact us. Hamnett Wealth Management offer unbiased, expert financial planning advice. Our professional, qualified Independent Financial Advisers take time to understand your specific requirements, aims and financial objectives to ensure your future is secure. Our services include:

  • Pre-& Post Retirement Advice
  • Investment Planning
  • Long-term Care Advice
  • Divorce & Separation Advice

Take control of your financial future today with Hamnett Wealth Management. We offer a free initial face-to-face consultation where we will assess your needs and explain how we can help. Call us now on: 0114 235 3500 or email us at: advice@hamnettwealth.com