Welcome to RBS Associates

Financial Planning

Financial planning underpins all that we do, and our aim is to help you make informed decisions about your financial future.

You will almost certainly have goals of one kind or another, for example, buying a home, starting a family, perhaps retiring, but these all have financial implications and leaving it to chance doesn’t make sense.

Wherever possible, we aim to use ‘Cash Flow Modelling’ with our clients which helps us to identify what their assets might be able to provide in the future and perhaps how their liabilities impact upon their goals. The beauty of the modelling is that it allows us to create ‘What If?’ scenarios to see how making simple changes might affect the long-term position.  When incorporated into ongoing reviews, it also helps us to easily see how the situation changes from year to year.

Savings & Investments

Saving and investing are often thought of as being the same thing, but they are different, and we aim to understand how each is to be used in our clients’ individual circumstances.

Saving is building up funds in cash, which will hopefully increase in value from interest that is added.  It is used to perhaps provide a reserve to help cope with emergencies should they occur, or maybe to be able to make a large purchase rather than borrowing.

Typically, people save with banks and building societies, but also through National Savings & Investment products and it’s important to consider the interest rates available.

Investing is more about trying to grow funds in real terms, i.e. by more than inflation, over a longer period of time. It’s important to consider the amount of risk you are prepared to take and the length of time the money will be invested; to create a diversified portfolio, but also to identify the types of products that best suit your needs.

Whether saving or investing, tax efficiency is important and ensuring tax allowances are used effectively is part of financial planning for our clients. For example, making sure ISAs are used wherever possible, Income Tax and Capital Gains Tax liabilities are managed, but often nowadays, a potential Inheritance Tax liability is a significant consideration for our clients, particularly as personal pension funds will be included in people’s estates from April 2027.

Pensions

For most people pensions form a central part of their retirement planning and are designed to provide an income in retirement as well as, often, a tax free cash lump sum.

Most people will have accrued a number of different pension plans during their working life and understanding what these are, the options available and what level of income they can provide in retirement is critical.There are two main types of pension plans although, with the exception of the statutory schemes e.g. the NHS, Civil Service, Teachers’, Armed Forces, Police, Fire Service and Local Authority Pension Schemes, etc. the first of these, Defined Benefit Plans are becoming far less common.

A defined benefit pension scheme provides a guaranteed income in retirement based on a formula, which takes into account your salary and years of service. The employer usually bears the investment risk, meaning that they ensure the promised benefit is paid, even if the underlying investments underperform.  In other words, it provides a guaranteed income for life and potentially an income for your spouse or partner if you pass away first.

The other type of pension, and far more common these days, is a Defined Contribution scheme.  This relies on contributions made including potentially from an employer to build a fund that can be used in retirement. The income received depends on how much has been contributed and how well the underlying investments have performed. The investment risk is borne by you, as the value of the pension can fluctuate based on market conditions. Therefore, for this type of plan ensuring the investment strategy being employed both before retirement, and in retirement, is important and should be monitored on an ongoing basis.

Saving through a pension can be very tax efficient, in fact, saving through pensions is often used to manage income tax liabilities for individuals and corporation tax for small companies.

Equity Release

Equity release is a special type of mortgage that lets you access the money tied up in the value of your home and RBS Associates will continue to provide advice for clients wishing to investigate Equity Release mortgages.

Equity release is becoming far more commonly used these days, and modern schemes are much more flexible than they were in the past.

If you are a homeowner aged 55 and over, although more commonly 60 and over, equity release may allow you to borrow money from your home without selling it. It can even be used to help you purchase a home in retirement.

You can take an equity release as:

• A lump sum (most lenders say a minimum of £10,000),
• Smaller amounts, taken when you need them or as a regular income - called a ‘drawdown’, or
• A combination of both.

Everybody’s circumstances are different and normally, we would consider other options before an equity release mortgage, such as downsizing or using other assets, e.g. savings and investments to meet our client’s needs, primarily because usually with equity release, interest is added to the amount borrowed.

In short, for equity release, it’s important we fully understand a client’s circumstances and requirements and whilst equity release often carries a poor reputation because of the type of products that were available 30 years or so ago, it is now an important consideration when financial planning is undertaken in retirement.

Mortgages

Whether you are a first-time buyer, moving home, looking to remortgage, purchase a second home or even looking to purchase a property to let, selecting the right mortgage for your circumstances is critical.

When identifying a mortgage, it is important to consider a wide range of factors, for example, whether the loan is for a property they will live in or one that will be rented out, the way in which the mortgage loan will be repaid, the amount of deposit available and the affordability of the deal selected, the length of time the mortgage will be held, the type of interest rate arrangement that meets the requirements, perhaps a fixed rate, tracker or discounted deal.

We have provided professional mortgage advice for over 30 years, primarily through one of our original Partners, Mark Spurling. Arranging a mortgage is one of the most important financial decisions that will be made and it’s important to get it right.

RBS Associates and Mark Spurling are delighted to announce that Davidson Deem Limited will now provide mortgage advice to our mortgage clients.

As Mark begins his pathway towards retirement, the administration and advice process will be undertaken by Davidson Deem. The Directors of Davidson Deem, Brian and Peter, and their 9-strong team, will continue to provide the high level of service that our clients have enjoyed in the past from Mark. Davidson Deem was founded in 1987, and Brian and Peter have well over 50 years’ experience in the mortgage market between them. Their 350+ five-star Google reviews provide confidence that your mortgage requirements are in good hands with Davidson Deem.

Below is a link to their webpage should you wish to find out more about their company:

https://davidsondeem.co.uk/home-2/

Davidson Deem Address: Arena Business Centre, 9 Nimrod Way, Ferndown, Dorset. BH21 7UH

If you wish to contact Davidson Deem, you can call them directly yourself on 01202 884111

Davidson Deem Limited is an Appointed Representative of Lumin Wealth Management Limited, which is authorised and regulated by the Financial Conduct Authority, with firm reference number 580185.

Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

Protection

Protection planning is a core part of building a resilient financial future. While investments and pensions help you grow wealth, protection ensures that you and your family are financially secure when life takes an unexpected turn. The right cover can provide vital support during illness, injury, or bereavement, helping to maintain stability at a difficult time.

Life assurance offers a financial safety net for your loved ones by paying out a lump sum if you die during the policy term. This can help clear a mortgage, replace lost income, or provide long‑term financial security for your family. Policies vary widely, from simple term assurance to whole‑of‑life plans, and choosing the right structure depends on your personal circumstances and objectives.

Critical illness cover provides a tax‑free lump sum if you are diagnosed with a serious medical condition specified in the policy. This can ease the financial pressure that often accompanies major illness, helping with treatment costs, lifestyle adjustments, or simply giving you space to focus on recovery. Because definitions and levels of cover differ between insurers, careful comparison is essential.

Income protection is designed to replace part of your income if you are unable to work due to illness or injury. For many people, their income is their most valuable asset, and this type of cover ensures that essential expenses - such as mortgage payments, bills, and family costs - can continue to be met even during long‑term absence from work. It can complement employer sick pay and state benefits, providing longer‑term stability.

Other forms of protection, such as family income benefit or business protection for company owners, can also play an important role. These solutions provide structured financial support tailored to the needs of families or businesses, ensuring continuity and reducing financial stress during challenging times.

As independent financial advisers, we help you understand the options available and recommend suitable, affordable protection based on your needs, priorities, and budget. Our role is to compare the whole market, explain the differences clearly, and ensure your cover remains appropriate as your life evolves - giving you confidence that the people and commitments you care about are properly protected.