It’s certainly been a busy year at Balance: Wealth Planning! So, we thought we’d share a round-up of our financial planning news, including updates, charity challenges, and award wins. Let’s look back at the past year to recap what we’ve achieved as a firm.
2024 was a momentous year for politics, global stock markets, and sporting events. From the Olympics and losing to Spain in the Euros final, the general election and Trump regaining his presidency, it’s been a newsworthy 12 months.
From a financial planning perspective, there have been notable changes to VAT, wages, Stamp Duty for second properties, and pension tax proposals. The UK stock market has been affected by geopolitical tensions, such as the Ukraine conflict and concerns over future US tariffs. A strong US dollar has also been impacting UK stocks.
Chosen Charity: Lincs & Notts Air Ambulance (LNAA)
In January, our clients chose Lincs & Notts Air Ambulance (LNAA) as our nominated charity to support in 2024. This essential service relies solely on donations to fund doctors, paramedics and pilots going on crucial life-saving missions. They deliver the equivalent of an A&E department to the scene of an emergency, transporting patients to hospitals or Major Trauma Centres in as little as 8 minutes. The average cost of a mission is £4,000.
LNAA celebrated their 30th anniversary of saving lives this year, having airlifted their first patient on 13 May 1994. We took part in a ‘6k a Day’ charity fundraiser and raised £1,341.00 for this organisation. Our team also got the chance to meet their fantastic crew in August when they visited LNAA HQ. If you would like to donate, please visit our JustGiving page.
Professional Adviser Awards
In March, we saw the last Spring Budget delivered by the previous government. Measures included an increase to the VAT threshold from £85,000 to £90,000 and cuts in National Insurance Contributions. During this month, we also won two Professional Adviser Awards for ‘Best Adviser Website’ and ‘Best Financial Advisers to Work for 2024’.
Top Rated Firm in 2024 by VouchedFor
In June, we saw Labour win the general election with a historic victory, securing 412 seats. During this month, we were featured in The Mail on Sunday as a Top Rated Firm in 2024 by VouchedFor. The criteria includes a verification process and 10+ reviews within a single year that have an average rating of 4.5 or higher. We are very proud of this recognition as it supports our aim to provide high-quality financial planning advice to all of our clients.
Money Marketing Awards
In September, we won Money Marketing’s ‘Best Retirement Advice Firm’, which recognises excellence in retirement advice. We also won ‘Next Generation Advice Firm’, which recognises innovative approaches to financial planning through technology, modern business practices, and a client-centric approach.
Autumn Budget
By the end of October, we saw the first Autumn Budget, delivered by the new government, which included a raft of changes and consultations. There were increases in employers’ national insurance contributions, national minimum wage, and national living wage.
The additional rate of Stamp Duty for buying second properties, payable on top of the standard rate, increased from 3% to 5% on 30 October. It was also proposed that from 2027, pensions passed on after death may be subject to inheritance tax (IHT).
New Model Adviser Top 100
In November, we were also thrilled to learn that we’ve been listed in Citywire New Model Adviser Top 100. This prestigious accolade celebrates the best professionals in the financial planning community.
“We are more than just financial planners, we want to consider ourselves financial life planners.”
Rebecca Aldridge, Managing Director & Chartered Financial Planner
Celebrating 10 years of financial planning
Balance: Wealth Planning also celebrated our 10th anniversary in November! We decided to raise a glass to a decade of commitment, innovation, and memorable moments with our clients and team. Led by local distillery, Ruddy Fine Gin, we held a gin-tasting event on 5 December at Six Restaurant & Bar, West Bridgford. Enjoying delicious drinks, nibbles and canapes, we a held a charity raffle to raise further funds for the Lincs & Notts Air Ambulance.
Welcome to the team…
In 2024, we welcomed four new members to the team! We were joined by Alistair Hill – Financial Planner; Jake Nurse – Paraplanner; Aneesa Rehman – Administrator; and Jess Fippard – Administrator. We wish them all long and fulfilling careers as valuable members of our Balance: Wealth Planning team.
Top 100 financial adviser firms
It’s been an incredible 10 years, and we are already looking forward to the next decade. Our vision has always been to positively influence our clients using our financial planning expertise. We want our clients to feel supported, fulfilled, and in control of their lives as a result of our advice.
As an employer, it’s our aim to provide an enjoyable environment to work in. We encourage our team to engage in continued professional development. We also want to influence the direction of our professional industry to help other firms move towards a goals-based financial planning approach. Our financial planners actively contribute to publications and speaking events, as well as supporting other financial planning firms on a 1:1 basis.
Thank you to our clients and partners who have supported us over the past 10 years; we wish you a prosperous and healthy 2025.
Get in touch in the new year to speak to our financial planning team.
Sources:
(Balance: Wealth Planning newsletters / supplied points)
https://citywire.com/new-model-adviser/news/top-100-2024-see-the-first-25-firms-on-the-list/a2453445?page=2
https://kpmg.com/uk/en/home/insights/2024/02/spring-budget-2024-overview.html
https://kpmg.com/uk/en/home/budget.html
