AMG Wealth Solutions

AMG Wealth Solutions AMG Wealth Solutions provide a full range of comprehensive financial services.

We can advise on Pensions, Investments, Life Assurance, Critical Illness cover, Income Protection, Accident, Sickness and Unemployment (ASU) cover and Mortgages.

How can the Pension Dashboard benefit you?If you have lost track of pension pots, the pension dashboard will assist you ...
23/03/2023

How can the Pension Dashboard benefit you?

If you have lost track of pension pots, the pension dashboard will assist you in recovering them and make it easier for you to determine whether consolidating your pension funds is beneficial.

The Pension Dashboard is a digital platform that will allow you to easily access your pension information safely and securely online.

Pension dashboards are expected to go live in June 2023 therefore, it is critical to understand its uses and advantages.

✅ Pension dashboards can assist in locating lost pension funds. This is important because according to the Pensions Policy Institute's most recent study, the worth of lost pensions has increased to £26.6 billion, or nearly 40%, since the study's initial publication in 2018.

✅ Dashboards will clearly present your various pension savings, including your state pension in a simple and understandable manner.

✅ Through the use of dashboards, you will be able to plan your pension savings more wisely, increasing your chances of achieving your desired retirement outcomes.

✅Dashboards have the ability to increase engagement by offering you a sense of control over your pensions and saving progress.

If you would like to start the process of understanding the dashboard and what it will mean for you then please do contact AMG Wealth Solutions.

You may become distracted from your financial objectives due to the regular ups and downs within the market. Therefore, ...
23/02/2023

You may become distracted from your financial objectives due to the regular ups and downs within the market. Therefore, the key to success as an investor may be to have a strategic, long-term focus.

Here are some benefits to long-term investing 📈

✅ Additional time to meet your goals
- The longer you remain invested, the more time your money could have to potentially grow.
- Over a long period, you have time to recover from factors such as market downturns.

✅ Compound Returns
- The main method of compounding is through dividend payments, which can be reinvested into increasing numbers of shares over time.
- Over a long period of time the returns can make a significant difference because your portfolio goes through a snowball effect.

✅ Time in the market matters
- Time in the market gives you a sense of perspective.
- A long term approach in the market can help you invest when valuations are more attractive.

✅ Protection of Inflationary Forces
- Investments like stocks, which have a high risk profile and potential for large returns over time, provide you with a greater chance of being protected against inflationary influences.

Long-term investing is important because it is likely to result in significant wealth creation. If you would like investment advice, we can help you take a close look at your financial situation and recommend solutions tailored entirely to your needs and tax position. Please contact AMG Wealth Solutions.

15/02/2023

Simple End of Tax Year Tips that you should consider 📝

As we approach the end of the tax year (5th of April 2023), it is important to ensure that all tax reliefs and allowances available have been utilised.

1. Maximise your ISA savings 💷
- The annual ISA subscriptions is £20,000 for 2022/23 and any unused amount cannot be carried forward.
- You can maximise your allowance by investing in your ISA, which is one of the most flexible tax-efficient saving plans available and you won't pay any Income or Capital Gains Tax on the profits or withdrawals that you make.

2. Use your Capital Gains Tax allowance 📈
- The 2022/23 annual Capital Gains Tax allowance is £12,300, which enables you to make capital gains on investments up to that amount tax free.
- Although the allowance cannot be carried forward into the following tax year.

3. Review your Pension ✍️
- Any tax relief's is based on the circumstances of the individual.

4. Take advantage of your Dividend Allowance 💸
- If you have the option to receive dividend income from your investment portfolio or from a business you are involved in, this allowance can assist you in generating an income that is tax-efficient.

Make 2023 less stressful by adopting efficient tax habits that will help you boost your financial well-being.

If you would like advice on tax planning, please contact AMG Wealth Solutions.

Do you and your family need critical illness cover? Critical illness helps you deal with unforeseen events and situatio...
03/09/2021

Do you and your family need critical illness cover?

Critical illness helps you deal with unforeseen events and situations that can have a variety of financial consequences on you and your family.

We are much more likely to have an illness during our working lives than to die. The impact is unimaginable on our day to day living and our loved ones.

Most policies have well over 100 different types of illness covered under critical illness including heart attacks, strokes, certain types of cancer etc.

It can be used for a variety of reasons but is usually used to repay a mortgage or help with loss of income during stressful and difficult times.

AMG can help you secure your wealth today and for future generations, as well as organise it to meet your requirements and goals, with the right protection insurance.
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Should I Save or Invest?⚖️ The choice between holding cash in a bank account or investing is a big decision and will hav...
23/02/2021

Should I Save or Invest?⚖️

The choice between holding cash in a bank account or investing is a big decision and will have a big impact on your future wealth.

Savings can be extremely important in the short-term and it is a good idea to build up an emergency fund for ‘rainy days’. When you have short-term goals in mind like a holiday, wedding or house purchase, cash savings are usually ideal.

However, cash isn’t always king and whilst it won’t fall in value, cash often struggles to keep up with rising prices, or inflation, so you can lose money in real terms. Current cash saving rates are just above 0%

Investing on the other hand is generally considered for the medium to long term (5+ years). There are many easy ways to invest, the most popular being an ISA or Personal Pension which also have tax benefits.

When you invest, you hope for greater returns that you can get from staying in cash, but you have to accept that you might get less than what you originally put in. Investments held for longer than 5 years have the best chance for a greater return.

Now lets consider an example… 🏦

If you have £10,000 cash in a bank account with an interest rate of 0.5% and take into account inflation at 2%, it will in 10 years be worth £8,258 in real terms.

Now, if you invest £10,000 into the FTSE 100 index which has an annualised average return over the last 10 years of 7% and take into account inflation at 2%, it will in 10 years be worth £15,178 in real terms.

Whilst the decision to hold cash or invest is down to you and your agreed attitude to risk. The choice between saving and investing should be based on your individual circumstances and your life goals and ambitions. If you do need any advice on the best way forward for you then please do contact us at AMG Wealth Solutions.

Steps you should consider before the Tax Year Ends ✍️ As the end of the financial year approaches (April 5th), time is r...
10/02/2021

Steps you should consider before the Tax Year Ends ✍️

As the end of the financial year approaches (April 5th), time is running out to consider tax planning to maximise the use of individual allowances, reliefs and exemptions for the current tax year. Small steps go a long way and can make a real difference to the financial security for you and your family.

Use your ISA Allowances 💰

The annual ISA allowance is £20,000 for 2020/21. This means a couple could, between them, invest £40,000. ISA’s are a valuable opportunity to shelter money from any further liability to Income or Capital Gains Tax.

Top up Pension Contributions ⚖️

Most taxpayers get relief on pension contributions of up to £40,000 (or up to 100% of their earnings if less) each tax year.

Income and Capital Gains Tax 💷

A review of your personal allowance and what has or has not been used as well as considering using part of your spouses allowance if applicable.

Crystallising gains up to the Capital Gains Tax allowance of £12,300 can help investors reduce higher future tax bills.

Inheritance Tax Planning ⏳

Planning for the future can make a significant difference to those you might like to help. Each year you can gift £3,000 and make an unlimited number of smaller gifts each year of £250 free from Inheritance Tax.

In life as we all say, nothing is certain but death and taxes. However, at least we have the power to plan for both. If you would like advice or help with tax planning, please contact AMG Wealth Solutions.

Easy Steps to Save Tax ⚖️Do you feel you pay too much tax? Would you like to find ways to cut your expenditure during th...
07/10/2020

Easy Steps to Save Tax ⚖️

Do you feel you pay too much tax? Would you like to find ways to cut your expenditure during these uncertain times? While taxes remain one of life’s certainties, there are still a number of ways in which the government allows and even encourages individuals to mitigate their tax bills.

Below are just some of the many ways in which you can reduce the tax you pay:

1. Tax-free allowances 💷
Making the most of basic reliefs and allowances can help individuals receive over £28,000 a year free of tax. There are tax-free allowances for savings income, dividend income and capital gains as well as the basic income tax allowance.

Marriage allowance also benefits couples where one partner earns less than the personal allowance and you can transfer any unused personal allowance from the lower-earning partner to the higher earner, up to £1,250.

2. ISA’s⏳
Invest in an Individual Savings Account (ISA) is a tax-efficient savings account with an allowance of £20,000 per each tax year.

Lifetime ISA’s (LISA), help those under 40 save for retirement or to buy a home. This account will let you save up to £4,000 per year and get a government bonus of 25% (up to £1,000). You pay no income tax on the interest or dividends you receive from the ISA or LISA.

Also, when making gifts to your own children, you can avoid paying tax on the interest by paying into a Junior ISA. The annual allowance for this is £9,000.

3. Pensions ⏰
The government encourages you to save for retirement by giving you tax relief on pension contributions. The relief either reduces your tax bill or increases the amount paid into your scheme.

Whether it is through simple tax planning, pension planning or investment advice, we can help you take a close look at your financial situation and recommend solutions tailored entirely to your needs.

Its our 10th Anniversary!!Throwback to our first day when our partners, Andy, Mel and Gary, set up AMG Wealth Solutions ...
20/08/2020

Its our 10th Anniversary!!

Throwback to our first day when our partners, Andy, Mel and Gary, set up AMG Wealth Solutions in Rhiwbina, Cardiff with nothing but a vision and an £8 Argos telephone.

Fast forward 10 years, AMG Wealth Solutions now have 11 employees and over £90m in Assets Under Management. We have grown and developed exponentially into a sustainable business that we are proud to call our own.

We would like to thank everyone, from our clients to our employees for making this possible!

Lost Pensions - Find your hidden treasure There is an estimated £400 million in unclaimed pension savings - This could ...
07/08/2020

Lost Pensions - Find your hidden treasure

There is an estimated £400 million in unclaimed pension savings - This could be your money to access which you have previously saved for retirement!

People have on average 11 jobs during their working life. We understand that it is not always easy to keep track of a pension, especially if you’ve been in more than one scheme or have changed employer throughout your career.

This is why the government introduced the free Pension Tracing Service (https://www.gov.uk/find-pension-contact-details) that enables people to search a database of more than 320,000 pension scheme details. The service is simple to use and requires few details, producing results immediately. We are on hand to help you find any missing pensions you are entitled to.

If you discover your hidden treasure, AMG Wealth Solutions have pension experts to help you review its value, performance, and charges. We can then work with you to discuss your options that best suits your needs and financial objectives.

So what are you waiting for? Your money is waiting to be claimed!

AMG are pleased to introduce the newest member of our team as we participate in the Word of Mouth Maintenance Scarecrow ...
31/07/2020

AMG are pleased to introduce the newest member of our team as we participate in the Word of Mouth Maintenance Scarecrow Walk!

Meet Sharon the Scarecrow Financial Advisor who will be a friendly face on Heol-Y-Deri in Rhiwbina. Make sure you come by and say hello.

She won't bite... we promise Rhiwbina Events Team

Preparing for a return to the workplace post-lockdown will be a daunting prospect for many businesses. To help make this...
30/06/2020

Preparing for a return to the workplace post-lockdown will be a daunting prospect for many businesses. To help make this transition a little easier for business owners, we have compiled some important questions that require consideration by businesses during these uncertain times.

If you have been thinking about any of these then please do contact us!

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