Resolution accredits Bates FS

We have been accredited by Resolution to provide financial advice to couples in family disputes.

Resolution is an organisation of 6,500 family lawyers and other professionals in England and Wales, who believe in a constructive, non-confrontational approach to family law matters. Resolution also campaigns for improvements to the family justice system.

Phillip Bates & Co Financial Services is the only financial adviser in Wirral and one of a handful in Cheshire to be accredited by Resolution.

Alan Mellor, Managing Director of Phillip Bates & Co Financial Services, said: “Our accreditation is recognition of our commitment to delivering high quality financial planning services to our clients.

“There is no question that our status as Chartered Financial Planners, something we are extremely proud of, would have helped us to be selected.

“Mediation is now obligatory when couples decide to separate and it is vital that they have peace of mind at a very difficult time that they can access the very best legal and financial advice.”

For more information, please call Alan Mellor on 0151 353 1066.

Bates & Co Financial Services welcomes two new starters

Bates & Co Financial Services has welcomed two new starters.

Margo Dorozik and Emma Bowen have joined the firm as Client Service Manager and Client Administrator.

Margo, who is from Chester, joins Bates & Co with more than 10 years’ administrative experience and is currently working towards Chartered Status.

She will be working alongside Bates & Co’s Jackie Williams to provide detailed planning work for clients, producing plans, research and reports.

Meanwhile Emma, who is from Liverpool, replaces long-standing employee Sheila Ewing, who will retire at the end of July.

With over 10 years’ administrative experience under her belt too, Emma will be responsible for processing information for clients and ensuring that all paperwork is in order.

Alan Mellor, Managing Director at Bates & Co Financial Services said: “We are delighted to welcome Margo and Emma to the team.

“Both are very knowledgeable and skilled in what they do and I look forward to working with them.

“As a firm, we will be very sad to see Sheila leave the business after more than 20 years and we would like to extend our thanks to her and offer her our very best wishes for the future.”

Election shock sees markets remain steady

June 8th was a landmark day for the UK as a shock election result left many contemplating its impact on the UK’s economy.

In reality, a hung Parliament could potentially be a good thing for investors.

Alan Mellor, Managing Partner of Phillip Bates & Co Chartered Financial Services, said: “Unless something changes, we are in a good position.

“A weak government can’t do very much – politicians won’t want to mess with things, which is good news for investments.”

However, Alan acknowledged that the increased likelihood of a second election within the next 12 months could change this outlook.

“The worry, of course, is if this current level of uncertainty gets worse – there could very well be another election soon and this could have a negative impact on long-term investments.

“It is difficult for businesses to make long-term investment decisions at a time like this.”

Alan does, meanwhile, think we could now be edging more towards a softer Brexit.

“As a result of the election, Theresa May now has no clear mandate, which is a better prospect for the economy“ he said.

“The Government are not going to be able to force through anything radical at the moment. Indeed, the pound fell on the night of the election but this was by very little as not a lot has changed, and I don’t think anything will change anytime soon.”

Planning for the future

The team at Phillip Bates & Co Financial Services advises people at various stages of their financial journey.

Increasingly, we are being asked to act for younger couples, often in their early to mid-30s, who want to ensure they have the right plan in place for their future retirement – even though this may be many years away.

One couple recently came to see me, both on good salaries and with a small amount of savings and investments. On the face of it, they were in good shape and had taken a number of sensible steps.

However, with the use of our state-of-the-art cash flow modelling software we were able to provide the couple with the long-term planning they were seeking.

It allows us to make projections and challenge assumptions as part of the process of plotting out a client’s retirement plan – however far ahead this may appear.

The software is interactive and intuitive and allows us to consider historic investment performance as well as looking at likely trends and patterns into the future.

Crucially, it enables us to provide our clients with realistic, attainable long-term planning that will allow them to achieve their goals for retirement.

To find out more, please contact Alan Mellor on 0151 353 1066.

Keeping it in the family

Building long-term relationships is essential in being able to provide the best possible financial advice.

We had a really good example of this recently when a couple, in their 60s, who we have advised for over 10 years, made an appointment to see us.

The meeting was a little bit different because they asked if they could also bring along their children, who are in their early 20s.

For much of the meeting, we simply provided a relaxed, professional environment for mum and dad to discuss their financial plans with their children. They chatted through their own financial priorities but also how they wanted to be able to assist their children in their own lives, such as helping them to take the first step on the property ladder.

We had been helping the parents with their financial planning for over a decade. In addition to providing financial advice, we had invested time understanding their requirements and motivations and building a trusted relationship.

When the time came to sit down with their children, they had no hesitation in asking if we would be happy to facilitate. The family, themselves, had shown great maturity in agreeing to have such a conversation, something that demonstrated their recognition of the importance of long-term financial planning.