financial education at work 2014
TRANSCRIPT
AAGTHE ALEXANDER ASSOCIATES GROUP
FINANCIAL EDUCATION AT WORK
Employee engagement
via education
A
valuable employee
benefit
FINANCIAL EDUCATION
Why Financial Education?
FINANCIAL EDUCATION
Empower employees to do
something positive about their financial well being
Regulation changes and
implications for employees
Pension and Retirement Planning
auto-enrolment
concerns and queries
Provide the knowledge and tools for
action
Break down barriers to financial services
Get in control
financially
97% view financial education as a “valuable part of the employer
benefit package”.
*2
FINANCIAL EDUCATION
Employee Engagement: The Statistics
53% are concerned
about their financial plans for retirement.
*1
75% would welcome more support on financial
planning. *1
86% believe
financial education
played a role in their decision to take action
about their own finances.
*261% thought that
financial problems have
an impact on work
performance. *3
*1: (CIPD Employee Outlook Survey 2012)*2: (Consumer Financial Education Board - CFEB) *3: (SHRM Financial Education Initiative 2011)
We believe that everyone should be financially aware, and able to make informed decisions about their personal circumstances. However, we are also aware that not everyone is financially confident, and others just don’t have time to address their own position.
A growing number of companies recognise that providing financial education to employees, with access to financial advice to their executives, is a measurable value added benefit. However, it’s not a one size fits all solution.
A bespoke approach, designed to accommodate everyone, allows us to provide the right level of education and support where required. From seminars that address the most common issues facing employees to one-to-one consultations, where we can use our wealth management experience to provide individual solutions.
The ultimate goal is to empower the individual to take greater control of their financial well being.
Our Programme
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JUST SOME OF THE COMPANIES WE ARE WORKING WITH...
WEBINARSThe programme is broken down over a series of short modules. We look to make these interactive, by setting some action points for the individual to do before the next session. Providing the theory and encouraging the employee to take action.
Financial wellness starts with knowledge and understanding, followed by action.
Financial Education provides your employees with the confidence and tools to take control of their financial future.
We appreciate that what works for one company may not work for another. So, we tailor our Financial Education Programme.
Working with you, we’ll design a programme that suits you and your employees. The options shown, are some of the solutions we have offered to our existing clients.
SEMINARSRegular sessions, run by one of our Wealth Managers, will cover one topic in detail. From monthly, quarterly or biannually, we discuss in depth the topic in question. Starting from a basic level of understanding, the seminars focus on generics, rather than specifics.
ONE TO ONE CONSULTATIONSRecommended for Executives who may want a more personalised approach, and discuss the curriculum in connection with their personal finances. We provide confidential one to one’s to discuss their personal situation and provide education where its needed.
SURGERIESA Wealth Manager provides access for employees to ask specific questions on any financial issues. These sessions may be a quick question to a full hour review. You can choose to run these on an appointment or open door basis. Surgeries are designed to complement the other solutions.
Programme Options
FINANCIAL EDUCATION
Example of Programme Sessions
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MONTH 1: Investments
• General Overview• ‘Safe’ options v
‘Riskier’ options• What are Alternative
Investments• Your Attitude to Risk• The importance of
diversification
MONTH 2: Retirement Planning• General Overview• Why Retirement is
no longer a date – but a decade
• Frozen pensions & Consolidating Pensions
MONTH 3: Wealth Management• General Review –
why it’s important to stay on top of your finances
• Being ready for today and planning for the future
MONTH 4: Retirement Planning• Lifetime and Annual
allowances• Alternatives to
Pensions
MONTH 5: Legacy Planning• Dying without a
Will*• Trusts*• Lasting Power of
Attorney*• IHT planning
MONTH 6: Share Plan Vesting• Capital Gains Tax
mitigation• Income Tax
mitigation• Diversification
MONTH 7: State of the Economy• Overview of the
current economy• Recent changes to
legislation• What this means to
you in reality
MONTH 8: Tax Returns*• How to prepare for
your tax return• Common mistakes• What HMRC want
from you• What needs to be
declared
MONTH 9: Protection
• Why do you need protection?
• Life cover• Critical Illness cover• Income protection• Protecting you and
your family
MONTH 10: Year End Planning• Time for a review
(New Year)• End of tax year
planning• Assessing your
financial plan and making changes
MONTH 11: Mortgages
• All you need to know• The current market• The process• What affects your
mortgage offer
MONTH 12: Budget Review• How the Budget
affects you• Taking advantage of
the opportunities• Adjusting your plans
accordingly
Any change in life, from a new job, moving house, getting married or having kids, can have a huge impact on your personal finances. But, it’s a time that is often so hectic that we put off today what we can do tomorrow.
Our Financial Education programme includes a Transition Service which provides relevant advice to individuals who are experiencing change, and enables them to make informed choices and take action.
From an employee’s perspective, they can see how important they are to the company. Providing a lasting positive experience, either before they move on to pastures new or as they settle into a role as a new joiner.
In a more emotive situation, such as redundancies, it can be a huge help for employees, empowering them to take control over their finances, and reduce the stress and worry that often comes from the ‘unknown’.
The focus is on ensuring that any flux results in a positive impact on an individuals financial plans.
Transition Services - Moving Jobs?
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Transition Services does not just have to be for employers. In fact, it’s a great proposition for Recruitment and Executive Search companies to offer their senior candidates as a valuable additional service.
We recommend Transition Services for the following:• Induction and Exit Reviews• Redundancies• Retirement• Contractors• Benefit Reviews
What does our Employee Transition Service involve?As an employee joins or leaves a company there are often questions that are left unanswered.
A one to one consultation with a highly qualified Wealth Manager will provide answers to these questions, look at the impact they have, and adjust or start a personal financial plan.
What benefits am I leaving behind?
What benefits are important to me?
What happens to my pension?
What should I contribute to my pension? What should
I do about the share scheme?
Do I need to think about my life cover?
STEVEN BEVANSENIOR WEALTH MANAGER
SIMON NEVILLESENIOR WEALTH MANAGER
We believe rapport is vital when it comes to personal finances. So, once we have got to know your company we’ll appoint Wealth Managers to the programme.
The Management Team are there to oversee the programme and are available to answer any queries or questions you may have.
The Team
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STUART HUDSONSENIOR WEALTH MANAGER
LESLEY MORGANPRINCIPAL LAWYER
ALAIN DASTROSHEAD OF ACCOUNTANCY
RICHARD BALAES GROUP MANAGING DIRECTOR
SUZANNE BENEY MARKETING MANAGER
JAMES KER-REIDSENIOR RELATIONSHIP MANAGER
FINANCIAL EDUCATION
Testimonials“AAG’s Financial Education programme helped me to realise that my own investments (and retirement income planning) should be more diversified and have a better risk profile.
The new “freedom” not to buy annuities, means that many, if not most senior managers will be the same as me, and have a critical need for Financial Education. They now have to be their own ‘pensions manager’.”
PHIL WILLS EXECUTIVE COMPENSATION & BENEFITS CONSULTANT
“We are delighted to be working with AAG to set up our company pension scheme. AAG have hosted a workshop session to update us on the recent legislation changes around pensions and how they will affect our business, to explain how the new scheme will work and to answer any additional questions our team have had. The workshop was clear and informative and we are looking forward to working with AAG going forwards.”
EMMA STURDEE CORPORATE AFFAIRS AT BOARD INTELLIGENCE
“The presentations have been of real value and we are sure participants now have much more understanding of their personal finances, however complex.”
GRAHAM CHANDLER PHYLLIS COURT
“It was a pleasure having you, and I’ve had plenty of positive feedback regarding how useful the session was. I can honestly say that the delegates, and even some of those that didn’t attend, are very much looking forward to the next session.”
TRACY GONCALVES HEAD OF COMPLIANCE & HR AT REWARD
“AAG have worked with me for more than 6 years, providing assistance in financial education and one to one advice to employees; and then as part of a financial education programme.
The team perform this task professionally, explaining to the audience the intricacies of financial products and strategies in an easy to understand and technically accurate manner. They do not fall into the temptation, which may financial advisers do, of overselling, but rely on their expertise to demonstrate the quality of their service.
Financial education remains an area where nearly everyone agrees that a great deal more needs to be done; but few have matched the commitment of AAG to provide an excellent service in this area.”
JEREMY MINDELL DIRECTOR AT PRIMONDELL
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Who We AreAlexander Associates Group (AAG) was founded in 1995 by David Alexander and backed by Lord Jacob Rothschild. The original intention was to provide sound financial advice.
Over the years, that objective has remained at the core of AAG. Our Wealth Management arm of the group has won numerous awards, which have been presented by notable luminaries including, Bill Clinton, Al Gore, Christopher Reeve, Lord Sebastian Coe, and The Rt. Hon. Lord Michael Heseltine.
Based in Mayfair, the Group has evolved and now includes a SRA regulated legal firm and a CIMA regulated accountancy firm amongst others.
The achievements and successes we have been recognised for, is testament to the work we do and, as a result, we have built a reputation second to none for innovative, tailored advice.
About AAGOur ApproachWe take a ‘family office’ view to personal finance, with a complete focus on the client as an individual. Their confidence in us comes from our approach - we put ourselves in their shoes; only providing advice that we would want in their position.
Financial services may appear intimidating, but it doesn’t need to be. We guide our clients through the various facets of their personal finances; from financial plans, investments, legal issues, mortgages and accounting concerns, our qualified and experienced professionals are always on hand to provide the relevant assistance.
We use an analogy, to help clarify the AAG approach:
‘In this country, we all take for granted the presence and availability of our GP when we have a health concern. Yet our GP is more than a doctor to treat minor ailments. He is also an extensive network of contacts, able to refer us to one of a plethora of specialists, depending on our condition. He confers with these specialists, keeps all our records and always has a detailed overview of our health, past and present.
Why should the same centralised guidance and support not be available for our finances?’
We have always believed it should be, which is why AAG exists.
Our FutureAs the business continues to grow, our focus does not waiver and we continue to abide by David’s original objective set nearly 20 years ago.
We do not intend to rest on our laurels. The financial landscape is ever evolving; staying ahead of the game and abreast of changes is crucial. It is important to us that we always exceed our clients’ expectations.
By simplifying the complex and aligning our goals with our clients’ we are able to secure their financial position and provide security for the next generation.
We continuously strive to go above and beyond; providing an unprecedented level of service and expertise in the financial world.
FINANCIAL EDUCATION
Our wealth management advice, for both individuals and corporates, is provided by AAG Wealth Management, a Principal Partner Practice of St. James’s Place Wealth Management. Like ourselves, St. James’s Place have a proven track record and strong heritage.
The facts:• St. James’s Place is a leading UK wealth
management company• Founded in 1991• A FTSE 100 company• Market capitalisation of circa £4.0 billion• Over £47 billion client funds under
management• Guaranteed advice
Working with St. James’s PlaceThe St. James’s Place Guarantee is is solely reserved for wealth management advice provided by representatives of AAG Wealth Management.
The St. James’s Place GuaranteeSt. James’s Place guarantees the suitability of the advice given by AAG Wealth Management when recommending any of the Wealth Management products and services available from companies in the group.
Other services offered by AAG which fall outside of wealth management advice and are separate and distinct to the services offered by St. James’s Place are therefore not covered by the St. James’s Place guarantee.
AAG Wealth Management represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website www.sjp.co.uk/products. The `St. James’s Place Partnership’ and the titles `Partner’ and `Partner Practice’ are marketing terms used to describe St. James’s Place representatives.
TO FIND OUT MORE, CONTACT:
James Ker-Reid 020 7016 6750
WWW.AAGFINANCIALEDUCATION.CO.UK
AAGTHE ALEXANDER ASSOCIATES GROUP