McLean’s Financial Services

Protecting your savings
From 7 October 2008, savings of up to £50,000 are guaranteed by the Financial Services Compensation Scheme (FSCS). But the protection applies per person, per institution (not account) that holds an individual banking licence.
All customers of authorised financial services firms in the UK are covered by the FSCS. It will pay compensation if [...]

An alternative gift for children this Christmas
Why not make an alternative gift to your children or grandchildren this Christmas, something they’ll still benefit from in future years?

Make sure your heirs are not left facing an unexpected tax bill
Many UK households could be at risk of paying inheritance tax (IHT), the tax which is charged at 40 per cent on the value of your estate over the nil-rate band threshold – currently £312,000 for an individual and £624,000 for a married couple, [...]

The expectation of greater reward
Your investment goals and the question of time should determine your investment plan. Generally, the longer it is before you need your money, the greater the amount of risk you are able to take in the expectation of greater reward.
You don’t want to find yourself having to sell just when the [...]

Forced to turn to bank of sons and daughters to fund long term care
The generation who have relied on ‘The Bank of Mum and Dad’ may unwittingly become ‘The Bank of Sons and Daughters.’ As parents fail to save for long-term care fees, children may be forced to forgo their inheritance to pay for care [...]

Nothing ventured, nothing gained
Established to encourage investment in vibrant smaller companies, Venture Capital Trusts (VCT) are usually large funds (£10m to £50m), which means they are able to spread their investments over a number of companies, typically 30 to 50 per trust.

VCT investment rules
Companies chosen must be quoted on the London Stock Exchange
These companies must [...]

Getting to grips with the language of investment
Accumulation units/shares
With this type of unit/share any income earned on your investment remains accumulated within the price of your units/shares, increasing the value of your holding.
Active managed funds
Funds which aim to outperform a benchmark index, such as the FTSE 100. The aim is for the fund manager to [...]

What are the options available to you?
There are a wide range of investment funds available to choose from. You should consider whether you are primarily investing for growth, income or for both.
If you want some income, but no risk to your capital, you may wish to consider choosing a money market or cash fund, which [...]

Spreading the risk to acquire a good mix of assets
Spreading risk and getting a good mix of assets is often known as “diversification.” You can invest directly by buying shares and bonds in different companies. You can also use funds known as collective investments, which pool your money with that of other investors and typically [...]

Make sure your financial affairs are in good shape
Increasing our sense of financial security and freedom, to enable us to do what you want to do, when you want to do it, becomes much more of a reality at the stage in our lives when our financial affairs are in good shape. With funds available [...]