What's the best way to raise a lump sum? Consider all options with expert advice
As we get older, our financial circumstances often become more complex and the need for expert help and advice becomes more important. When raising a lump sum, you'll want to know what’s the best way that meets both your needs, your circumstances and perhaps how it impacts on your wider financial plans?
If you’ve decided to raise a lump sum, we can help you consider all your options.
Some important choices you may be facing
An unsecured loan
- Can I afford the monthly repayments?
- Will I get accepted?
Spending savings and investments
- Can I ever replace the money I've saved?
- How do I feel reducing my rainy day fund?
- Will I get the timing right to encash stock market based funds?
Flexi pension withdrawal
- How much tax will I pay?
- What impact will it have on my future income?
- How does it affect the value of my estate?
- Am I prepared to spend the kids’ inheritance?
- Do I want another mortgage on my home?
- Whilst the APR is low, will the total interest paid over my lifetime keep mounting up?
Make the right decisions with the right level of service for you
If you are asking yourself any of the above questions, then you may benefit from professional financial advice tailored to your specific needs. After an initial free consultation, free2 gives you access to independent financial advice which considers your current situation, your goals and objectives and delivers advice recommendations to help you achieve your important plans. Some of the key planning areas we cover include;
- How do I best raise a lump sum? – if you want to explore the best way of creating a lump sum without using your home equity, then our experts will consider all options
- How do I use the equity in my home to achieve my plans in retirement? – if you are happy to use the equity in your home, then speak to our expert advisers who’ll find the best solution across the whole equity release market
- How do I ensure my financial planning is current and meeting my needs? – if you require financial advice across a wider range of areas, which may include at retirement planning, creating the right flow of income from your pension fund, implementing ways to mitigate the impact of Inheritance Tax, protecting your family, tax efficient saving and investing and more. Our experts can help you create or adapt your financial plan to ensure you achieve your goals for this next stage of your life
What do I do next?
Complete your enquiry form below, and our UK Customer Services team will be in touch to fix a date in your diary for your free initial consultation call.
1. Book your free initial consultation
You can do this here.
2. Getting to know you
During the initial consultation call your adviser will take you through a series of questions to help you decide what type of advice you require and collect key information regarding your finances. At the end of the call we’ll explain how things work and the level of advice fee charged (starting at £595, based on individual circumstances).
3. Meeting your needs
After the initial consultation call, we’ll first confirm the scope of the advice you require and the fees you’ll be charged for our research and advice report, payable if you want to proceed to the advisory meeting.
4. First advisory meeting
At the first advisory meeting your independent financial adviser will assess your situation based on your short, medium and long term plans. They’ll consider your total assets and liabilities, including any loans, credit cards, mortgages, properties, businesses and investments.
5. Creating your advice recommendations
Your independent adviser will then assess all aspects of your current situation and your plans for the future. They'll review your net worth balance sheet, cash flow requirements and impact of their recommendations on your cashflow and assets. They'll create their advice report ready for the next meeting.
6. Your advice meeting
At your advice recommendation meeting, you’ll receive your advice report recommending how to create your lump sum and, if in scope, how to meet your other objectives, based on their insight, research and assessment of the UK Financial Services market.
7. Making your plans happen
After you have had time to consider all recommendations you’ll agree with your adviser which ones you wish to implement and what help you need from them.
8. Working with experts
free2 works with partners MAP to provide all advisory services. MAP are a national firm of Independent Financial Advisers able to advise on the whole of the UK Financial Services Market. free2 will receive an introduction fee from MAP if you take up an advisory service.