Independent financial advice
in Nottingham & the East Midlands
When we start working with you, we will conduct a Fact Find. Have a look here at an example of a typical Fact Find so you can see the level of detail we go into.


BASIC DETAILS Client 1 Client 2
Surname Smith Smith
First name John Jane
Address 4 London Lane, Anytown, AB1 2YZ
Tel: Home 01234 567 8910
Tel: Mobile 07700 012345 07700 012346
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. This email address is being protected from spambots. You need JavaScript enabled to view it.
Date of Birth 05/06/1968 25/03/1970
Current Age 46 44
Expected Retirement Age 66 (20 Years) 64 (20 Years)
State Retirement Age 66 (20 Years) 67 (23 Years)
Place of Birth Anytown Anytown
Marital Status Married Married
National Insurance Number NP123456A NS234567C
     
EMPLOYMENT DETAILS    
Employed/Self Employed Self Employed Employed
Occupation Textiles Secretary
Job Title MD Secretary
Business Name XXXXXX XXXXXX
Business Address xxxxxx xxxxxx
Work Pension Scheme No No
Death In Service No No
Private Medical Insurance No No
Permanent Health Insurance No No
Sickness Benefit Period NA 3 Months Full Pay
     
Annual Income    
Basic Salary: £45,000 £22,000
3yrs Self Employed income

2015/16
£30,000 Salary
£15,000 Dividend
2014/15

£30,000 Salary
No Dividend
2013/14
£42,656 Salary
No Dividend
NA

Net Income per month £3,280 £1,510
Joint Net Income per month £4,790
Expenditure per month £3,047
Net Disposable Income per month Before Advice £1,743

Net Disposable Income per month After Advice £1,743

     
Cash/Emergency Fund Before Advice £30,000

Cash/Emergency Fund After Advice £30,000

     
Pension 1
Provider Aviva Wrap Aviva Wrap
Plan No AB123456789 ZW76584038
Type of Pension Group Personal Pension Stakeholder Pension
Start Date 15/04/2012 15/04/2011
Reg Contributions Employer £400/Mth on 10th of month Nil
Reg Contributions Employee Nil Nil
Retirement Age 65 65
Fund Type Money Purchase Money Purchase
Total Contributions

£71,000 15/04/2016
plus regular £19,200
Total £90,200
£9,000 15/04/2011
Total £9,000
Historic Valuations

2016 April 15th £133,592
2015 April 15th £125,788
2014 April 15th £104,420
2013 April 15th £94,428
2012 April 15th £71,000


2016 April 15th £17,841
2015 April 15th £17,440
2014 April 15th £15,143
2013 April 15th £14,204
2012 April 15th £12,100
2011 April 15th £9,500
2010 April 15th £9,000
Current Fund Value 2016 April 15th £133,592 2014 April 15th £15,143
12 Months Net Growth:

2016 - +2.30%
2015 – +15.17%
2014 – +5.50%
2013 – +17.38%
2016 - +2.30%
2015 - +15.17%
2014– +5.50%
2013 - +17.38%
2012– +27.36%
2011– +5.55%
12 Months Net Growth:
Benchmark FTSE 100

2016 – (-11.93%)
2015 – +6.19%
2014 - +0.46%
2013 - +9.28%
2016 – (-11.93%)
2015 – +6.19%
2014 - +0.46%
2013 – +9.28%
2012 – +11.95%
2011 – (-3.47%)
Risk Level - Fund/Portfolio

Balanced Managed Portfolio
6/10
Balanced Managed Fund
6/10
Fund Value (Income per year) at Net 5% Growth per year and 5% income taken
(Today’s value at 2.5% ave inflation)

At age 66
ACTUAL VALUE

£480,786 (£25,039/yr)
or
£120,196 Tax Free cash plus (£18,779/yr)

TODAY’S VALUE
£293,409 (£14,670/yr)
or
£73,352 Tax Free cash plus (£11,002/yr)
At age 64
ACTUAL VALUE

£40,178 (£2,008/yr)
or
£10,044 Tax Free Cash plus (£1,506/yr)

TODAY’S VALUE
£24,520 (£1,226/yr)
or
£6,130 Tax Free cash plus (£919/yr)
     
Pension 2
Provider Ex Employer Ex Employer
Plan No 0005331 XLt56789
Type of Pension Defined Benefit Paid Up Defined Benefit Paid Up
Retirement Age 66 66
Average Annual Net Growth 3% 3%
Expected income/Yr At age 66 = £6,284/yr At age 66 = £3,100/yr
     
Pension 3
Provider Reassure NA
Plan No RE456789  
Type of Pension Personal Pension  
Start Date 01/05/1992  
Reg Contributions None  
Retirement Age 66  
Fund Type With Profits Fund  
Total Contributions £7,500 - 01/05/1992  
Current Fund Value

2016 April 15th £12,900
2015 April 15th £12,648
2014 April 15th £12,400
 
Annual Net Growth

2016 - +2.00%
2015 - +2.00%
2014 - +2.00%
 
12 Month Net Growth: Benchmark FTSE 100

2016 – (-11.93%)
2015 – +6.19%
2014 -  +4.54%
 
Risk Level - Fund/Portfolio Low/Medium Risk 4/10  
Fund Value (Income per year) at Net 2% Growth per year and 5% income taken

At age 66
ACTUAL VALUE

£22,395 (£1,119/yr)
or £5,598 Tax Free cash plus (£839/yr)

TODAY’S VALUE
£13,667 (£683/yr)
or £3,416 Tax Free cash plus (£512/yr)
 
     
State Pension/ BR19 Detail £8,000/Yr at age 66 Todays £8,000/yr at age 66 Todays
     
Stocks & Shares ISA
Provider Old Mutual Old Mutual
Investor No: 2-12345678 2-23456789
Plan Number 123456789 23456789
Type of ISA Stocks & Shares Stocks & Shares
Start Date 07/10/2013 07/10/2013
Reg Contributions Nil Nil
Total Contributions

2016 Sept 16th - £7,500
2015 April 16th - £7,500
2014 Sept 16th - £7,500
2014 April 16th - £5,818
2013 Sept 16th - £5,818
Total £34,136
2016 Sept 16th - £7,500
2015 April 16th - £7,500
2014 Sept 16th - £7,500
2014 April 16th - £5,818
2013 Sept 16th - £5,818
Total £34,136
Historic Fund Value

2016 April 29th - £47,612
2015 Sept 29th - £39,501
2015 April 29th - £29,246
2014 Sept 29th - £19,697
2014 April 29th - £11,631
2013 Sept 29th - £5,760
2016 April 29th - £47,612
2015 Sept 29th - £39,501
2015 April 29th - £29,246
2014 Sept 29th - £19,697
2014 April 29th - £11,631
2013 Sept 29th - £5,760
Current Fund Value 2016 April 29th - £47,612 2016 April 29th - £47,612
Fund Type Veracity Growth Portfolio Veracity Growth Portfolio
12 Month Net Growth

2016 - +2.30%
2015 – +15.17%
2014 – +5.50%
2013 – +17.38%
2016 - +2.30%
2015 – +15.17%
2014 – +5.50%
2013 – +17.38%
12 Month Net Growth: Benchmark FTSE 100:

2016 – (-11.93%)
2015 – +6.19%
2014 - +0.46%
2013 - +9.28%
2016 – (-11.93%)
2015 – +6.19%
2014 - +0.46%
2013 - +9.28%
Expected income/Yr @ 5% net growth and 5% income
contributions £15,000 per year each
Age 66
£294,024 (£14,701/yr)

Age 64
£294,024 (£14,701/yr)

Withdrawals None None
     
Attitude to Risk

Growth Managed Portfolio
8/10
Growth Managed Portfolio
8/10
 
Expected Annual Retirement Income At Age 66/64
Aviva Wrap £25,039 Actual £2,008 Actual
Reassure Personal Pension £1,119 Actual NA
Defined Benefit £6,284 Actual £3,100 Actual
State Pension £8,000 Todays Nil (until age 67)
ISA £14,048 £14,701
Total Income £54,490 £19,809
Total Joint Income 66/64 £74,299
Note Joint Income at 69/67 £74,299 + £8,000 = £82,299
   
PROTECTION
MORTGAGE PROTECTION L&G
Joint/Single Joint
Policy Number 12345678
Life/Critical Illness Decreasing Life Only
Sum Assured £187,657 Current (£130,607 - 2019) -  Start £225,00
Term –start/end 14/04/2011 to 14/04/2026 (11 years)
Premium/Mth £38.86 Guaranteed
In trust? Yes Additional Trustee Robert
     
FAMILY PROTECTION L&G – Life Only L&G Life Only
Policy Number 123456789 23456789
Single/Joint John Jane
Life/Critical Illness Family Income Benefit Family Income Benefit
Sum Assured £2,000/Mth – (£24,000/Yr) £2000/Mth – (£24,000/Yr)
Term –start/end 07/02/2011 to 14/04/2022 7yr 07/02/2011 to 07/02/2025 10yr
Premium/Mth £22.40 £18.40
In trust? Yes Additional Trustee Robert Yes Additional Trustee Robert
     
Critical Illness None None
Income Protection None None
Private Medical Insurance Company Policy Company Policy
Whole of Life None None
     
Main Residence 4 London Lane, Anytown, AB1 2YZ
Date of Purchase: 15/10/2001
Purchase Price: £340,000
Estimated Current Value: £400,000
Lender: Virgin
Account Number: 0123456789
Mortgage Outstanding: £150,000
Term: 11yrs (April 2026)
Repayment/Interest Only Repayment
Interest Rate 3.00% Fixed 04/07/2018
Monthly Mortgage Payment: £1,162
Early Repayment Penalty
Amount and Date
£1,500 to 04/07/2018
   
BTL Property 1 Details Xx Cross Street, Newark NG24 xxx
Date of Purchase: Sept 2009
Purchase Price: £70,000
Current Value: £90,000
Lender: C&G
Account Number: 50000094154486
Mortgage Outstanding: £26,000
Term: 15 years
Repayment/Interest Only Repayment
Interest Rate  
Monthly Mortgage Payment: £285
Monthly Rental: £440
Early Repayment Penalty
Amount and Date
None

Property Detail Terraced, 2 Bed, built 1910
     
VALUE OF NON PENSION ASSETS
Main Residence £200,000 £200,000
Contents/Car Joint £55,000 £55,000
Bank Accounts Joint £15,000 £15,000
Stocks & Shares ISAs £47,000 £47,000
Property 2 Joint £45,000 £45,000
Individual Value of Assets £362,000 £362,000
Joint Value of Assets £724,000
     
LIABILITIES
Mortgage 1 £75,000 £75,000
Mortgage 2 £13,000 £13,000
Individual Value of Assets £88,000 £88,000
Joint Value of Assets £176,000
     
Individual Assets Less Liabilities £274,000 £274,000
Joint Assets Less Liabilities £548,000
Plus Life Insurance Not in Trust NIL
   
IHT 1st Death Spouse exemption Spouse exemption
IHT 2nd Death (£650,00 NRB) Nil
Do you have a will? No
Do you have Lasting Power of Attorneys (LPA)?
Property & Financial?
Health & Welfare?
No

In case of Mental Incapacity - Are you aware that the court of Protection would make decisions on your behalf without an LPA?  Yes

Expected Inheritances  
     
Monthly Expenditure Assessment
  Current Expenditure

Changes to Expenditure After Advice
Mortgage 1 £1,162  
Mortgage 2 £285  
Council Tax £150  
Car/Petrol £250  
Utilities Gas/Electricity £200  
Water £30  
Groceries £300  
Telephone/Broadband/Sky £75  
Car Insurance £50  
House Insurance £50  
Life Insurance £58  
Health Insurance £22  
Clothing £100  
Dentist £10  
Presciptions £5  
Dry Cleaning £10  
TV Licence £12  
Professional body membership £13  
Hairdressing £5  
Holidays £200  
Alcohol/cigarettes £60  
Total Expenditure/Mth £3,047  
     
Capital Expenditure Assessment (Mortgage)
Deposit  
Stamp Duty  
Solicitor  
Estate Agent Fee  
Lender Arrangement Fee  
Valuation Fee  
Moving Costs  
Total Costs  
   
Are there any expected foreseeable changes to income or expenditure No

Expected Large Expenditure within 12 months No

     
Notes



     
Stamp Duty Residential:
 Property Value = £
Up to £125,000 – 0% = £0 
£125,001 - £250,000 – 2% within the band = £
£250,001 - £925,000 – 5% within the band = £
£925,001 - £1,500,000 – 10% within the band = £
£1,500,001+ – 12% = £
Total Stamp Duty payable at Completion = £

Stamp Duty Buy To Let / Second Property:
 Property Value = £
Properties costing under £40,000 - 0%
£0 to £125,000 (£125k) - 3% within the band = £
£125,001 - £250,000 (£125k) - 5% within the band = £
£250,001 - £925,000 (£675k)  - 8% within the band = £
£925,001 to £1.5 million (£575k) - 13% within the band = £
£1.5 million+ - 15% within the band = £
Total Stamp Duty payable at Completion = £
     
Guidance Notes

The figures used in this fact find are a guide only to help you understand your current finances.
Please discuss with us how you would like the figures to be shown ie in both today’s figures and actual figures and/or to different retirement ages. The report will then be made specific to you.
Obviously the closer you get to retirement the more accurate the forecasting will become. 

We have used an income level of 5% from the future capital forecasted.

Current open market annuity rates for a single life, level income are approximate:

age 55 - 4.7%
age 60 - 5.1%
age 65 - 5.7%

Adding additional guarantees to an annuity such as an income for a dependent or an income which increases each year would reduce the level of rates offered. Impaired health or certain lifestyle choices such as smoking may increase the rates offered.

  • We have used a growth factor of 5% net per year as we feel that this should be an achievable growth rate
  • We have indicated within this document the rates that has been achieved in the previous 12 month period and if available in previous years also which we believe will give you an understanding of what is or has been achieved and how that may translate to future growth however it is not possible to know what growth rates will be achieved in future. if you prefer to use a more conservative rate please let us know 

Your pension statement, which you should consider in conjunction with this document, uses figures in “Today’s money” The term Today’s Money reflects the effect of inflation at 2.5% per year on the real value of your future capital/income. The figures used in this document are actual future values. To understand the future value in Today’s Money you should deduct 2.5% for each future year forecasted. Please let us know if you would like to have this figure included within the document.
 
Please remember that past performance is no guide to future performance and may not be repeated.

The value of investments and the income derived from them may go down as well as up and you may not get back the amount originally invested.

Tax rules and regulations are subject to change.

Equity release is a loan secured against your home, which is repaid when you die or go into Long Term Care.

Your home may be repossessed if you do not keep up the repayments on your mortgage or any loan secured upon it.

Veracity Financial Planning is Authorised and Regulated by the Financial Conduct Authority. We are entered in the FCA's register under reference 501862 at www.fca.org.uk Veracity Financial Planning Address; 16 Swallow Drive, Bingham, Nottingham, NG13 8QA. Tel/Fax: 01949 836173, email: This email address is being protected from spambots. You need JavaScript enabled to view it. - Veracity Financial Planning is a trading style of Edwin Snapper which is authorised and regulated by the Financial Conduct Authority.