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How to Make your Money Work Harder


It’s safe to say that right now is a fairly uncertain period in the UK as we approach the expected Brexit date with no apparent decision being made about when, how and if we will exit the EU.

Against this volatile landscape, more than a third of British adults – that’s 17 million people and 3% more than the previous quarter – believe that they will be worse off financially post-Brexit.

This mainly includes concerns about the cost of food and energy as well as broader worries about the fall in value of the pound and the knock-on effect on individual financial situations.

Much of this is fear of the unknown but many of the concerns could also become reality. This attitude has seen the general public far more hesitant to make major financial decisions such as buying a new home or a new car.

Many are also delaying investment decisions, and this suggests deeper worries about cash flow, namely the fact that many people are not seeing the results they need from their savings and investments with Brexit just serving to shine a spotlight on their fears.

Losing Interest

Research from Hargreaves Lansdown shows that savers have missed out on at least £188bn (or £7000 per household) in lost interest over the past ten years, and that the amount of money in non-interest bearing accounts has risen from £47bn in September 2008, to £165.9bn.

The fact that high street banks are not generally offering savers a good rate of interest means many high-net-worth individuals are seeing measly returns on their cash when it is placed into a traditional savings account.

While we are slowly beginning to see better deals at the high street banks, it’s important for savers to take a long-term approach to their investments and consider other options with an independent financial adviser to find out about potential ways to make the most of their cash.

In light of Brexit considerations and general historic market performance with dips and troughs, you should also discuss with your financial planning adviser how to best position your savings and investments for financial resilience.

To this end, we would first recommend diversifying your savings and investment vehicles to cover both fixed term and easy access options.

Key Financial Planning Questions

You need to sit down and work out exactly how much you need to put aside for emergencies, as well as money you would ideally like easy access to in order to support ongoing financial goals such as putting down the deposit on your child’s first home or contributing to their wedding.

Most people have the equivalent of three to six’ months income saving in their emergency pot but this depends on factors such as how many dependents you have and whether you are approaching retirement.

Working out these goals means you can strategically utilise fixed term savings options by putting away only the amount of money you are comfortable with.

Then you need to consider another key question – “Could I be making more from my money?” This means considering options that improve the prospect of good returns while still keeping risk to a minimum.

For example, you might consider moving it from a low interest high street bank account to a more rewarding savings vehicle such as a fixed term savings account or an online cash management service designed for high net worth individuals.

An IFA will also discuss the more strategic use of fixed term savings accounts, where you can blend different lengths of term across a number of accounts to achieve your desired objectives and gain access to the best rates of interest.

Intelligent Cash Management

We are currently introducing our clients to a state of the art cash management service designed to make your cash work hardest for you. Customers can gain access to up to 30 banks with more than 500 instant access, term and notice deposit rates.

Designed for those individuals sitting on cash balances worth £250,000 or more, it is a flexible platform that caters to many different demographics within the scope of the high net worth individual.

This includes those seeking FSCS protection and to increase interest but minimise risk, as well as the rate-sensitive client who is less concerned about FSCS protection but firmly believes in the resilience of banks.

Each of these individuals would have a very different solution, and there are many suitable options available through the platform.

Unconventional Income Structures

Any solid financial plan should be resilient enough to withstand even the most dramatic market events such as a no-deal Brexit. We manage wealth and assets for many high-net-worth individuals, and we are also aware that this is a demographic where people often have unconventional income structures, making the need for a tailored financial planning even more important to minimise interest and tax, and maximise returns.

To this end, we are proud to nurture relationships with key figures across the board that mean we can offer our clients access to the greatest market deals and prime opportunities as we consider how to make your cash work harder.

At Vintage Wealth Management, we stand out for these reasons and more – mainly because we take a holistic focus and always consider the shorter- and longer-term implications when we recommend solutions for our clients.

For more information on the most effective future-proof savings and investments vehicles and/or an introduction to the cash management platform, email us at or give us a call on 020 8371 3111.