Ramsay Brown Financial Services Limited are independent financial planners who specialise in providing financial advice to members of the medical profession. The company was formed in August 1991 to provide a comprehensive financial planning and advice service for the clients of Ramsay Brown & Partners, a leading firm of accountants advising medical professionals.
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Comprehensive Financial Planning
We offer a full financial planning service, where we will look at the overall lifestyle and financial planning objectives as fully as possible to ensure that the financial resources are used in the most tax efficient manner. This is a comprehensive plan, the objective of which is to help clients to achieve their financial objectives in each area of financial planning.
We aim to help our clients achieve financial independence by their desired age, by tailoring a financial plan to each individual's own circumstances and requirements. This plan is then regularly monitored and adapted to take into account changes in circumstances.
In summary, this service offers a structured plan that is regularly monitored to ensure clients are adequately protected against unforeseen circumstances and that resources are used in the most tax efficient way to achieve financial independence at the earliest age.
We offer a complete review of current protection policies to ensure that dependants are adequately provided for in the event of death.
All types of protection plans are considered including Term Assurance, Family Income Benefit, Whole of Life policies, Critical Illness Plans and Mortgage Protection policies.
Term rates have reduced considerably over the recent years and therefore it is often possible to provide identical cover at a reduced cost.
When dealing with protection policies, trusts are used extensively to ensure the avoidance of Inheritance Tax where possible.
Inheritance Tax Planning
All areas of Inheritance Tax planning are considered, including the affordability of making outright gifts, the use of trusts where a degree of control is still required, as well as investigating the use of all the available exemptions and reliefs.
A full estate planning report is provided, including a lifetime cashflow so that, where possible, taxed income is not accumulated within the estate to be taxed again on death.
A full range of investment advice is provided including advising on ISA's, Unit Trusts, Investment Trusts, Investment Bonds, Zero Dividend Preference Shares and Offshore Funds. Advice is also given on tax planning vehicles such as Enterprise Investment Schemes, Venture Capital Trusts and Limited Partnerships. These schemes can be used for school fees planning, planning for university fees, future weddings or any other anticipated capital expense.
Investment planning is structured to meet objectives, as well as income and taxation requirements, therefore a full review of your situation and risk profile would need to be undertaken before any firm recommendations could be made.
It is estimated that British taxpayers lose billions of pounds per year by not taking advantage of the tax breaks and reliefs available to them.
This service can be used to provide income and/or capital growth depending on an individual investor's requirements
We provide a fully integrated pension/retirement planning service looking at all aspects of the NHS Pension Scheme (NHSP), including changes as they occur, and helping clients to understand their current benefits as well as the potential benefits they can expect to receive at the point they would wish to retire.
This will include looking at NHS estimates, applying Early Retirement Factors (ERFs) for those who wish to retire early, and also looking at Lifetime Allowance (LTA) and Annual Allowance (AA) issues where the information is available.
This will help clients to have a much better understanding of their scheme benefits and, more importantly, whether the benefits will provide sufficient income and capital to enable clients to live their desired lifestyles.
We also will help clients to understand their likely State Pension benefits by liaising with the Department of Work & Pensions (DWP) and any private pension benefits that they may have i.e. personal pensions, stakeholder pensions, Self Invested Pension Plans (SIPPs)
Surgery Purchase HA/PCT
For practices considering buying or building their own premises under cost or notional rent scheme, we offer a full advisory service looking at the most competitive lender, whether to fix or opt for a variable rate loan, and the type of repayment vehicle.
We also offer advice as to the viability of the project, bearing in mind the cost and the projected reimbursements. We will also liaise with your local Health Authority with regard to any issues surrounding the project. It is important to ensure that the project is arranged in the most tax efficient way so that GP's incomes can be maximised.
Permanent Health Insurance
We offer the full review of existing needs and benefits, taking into account issues such as locum cover, to ensure individuals are protected in line with the requirements of the Partnership Deed (or their individual requirements), as well as Income Protection (IP) to provide an income replacement if long term ill-health were to occur.
We will look at existing benefits, such as ill-health pensions from the NHS and any other benefits that may be received, to provide a comprehensive protection package in the unfortunate event that GPs are unable to work through long term ill-health or disability.
Tel: Michelle 0208 370 7726
Ramsay House, 18 Vera Avenue
Grange Park, London N21 1RA