From pensions to insurance seeking business advice is an invaluable part of running a company. Ferguson Oliver can give you business advice to ensure your company is getting the most from its financial arrangements as well as giving you tips on keeping your employees financially motivated.
Ever-changing government legislation means companies cannot afford to lose touch with their responsibilities. Business advice from Ferguson Oliver will keep your company up-to-date with regulatory changes. There are legal frameworks that companies must adhere to. For example, companies with five or more employees must, by law, provide their employees with access to a pension plan that falls within the regulations.
At Ferguson Oliver we can access the widest range of financial products suitable for businesses and provide holistic business advice on all areas of financial planning, from employee reward to commercial mortgages.
As all employers know, the peace of mind and security provided by having appropriate insurance to cover any eventuality can help ensure a thriving business.
As every Human Resource professional knows, an esteemed and protected employee is likely to be more motivated and loyal and therefore a more valuable member of the team. They appreciate the way they are treated by their employer and welcome the benefits provided for them.
For selecting pensions through to insurance, seeking expert professional advice will help to take the pain out of the process – and save valuable time. But how can you ensure you receive impartial advice that is most suitable to your business, based on all the financial products on the market?
Until recently there were just two types of financial advice available, tied agents who could offer recommendations from the product range of only one provider, or Independent Financial Advisers (IFAs) and Employee Benefit Consultants who were required to select the most suitable products from all those on the market.
Employers will, of course, have to pay for the advice that they receive. The choice is to allow your financial adviser to take commission from the products they arrange or for a fee to be paid to cover the time taken, similar to how you pay your accountant or lawyer. The solution may be a combination of a reduced fee offset by a commission payment from the product providers.
We will inform you in writing at your first meeting how we can be paid and the likely amounts.. The implications of each route - fees, commission or a combination - will be explained to you before you decide.
Remember that an IFA can access the widest range of financial products and can provide holistic advice on all areas of financial planning for a business.
It may be that you want an expert to look at your existing financial arrangements and employee benefit package. An IFA can assess schemes such as pensions, risk benefits and private medical insurance and highlight any areas you may want to alter with recommendations on possible modifications. Normally a comprehensive report will be prepared by the IFA whilst he or she will provide a professional opinion on your current position.
The ever-changing government legislation means that companies cannot afford to lose touch with their responsibilities. As well as bringing companies up to date with regulatory changes, an IFA will help to ensure that businesses and their employees get the best deal out of any financial decisions they make.