An Introduction

Registered Office:55 Victoria Street, Burnham-on-Sea, Somerset, TA8 1AW

Telephone: 01278 788646 • Fax: 01278 789237 Enquiries@pwcltd.co.uk • www.pwcltd.co.uk

Facebook: @positivewealthcreationltd • Twitter: @pwcltd Skype: pwc.ltd

Registered in England No: 4802683.A list of Directors can be viewed at the Registered Office.

Positive Wealth Creation Ltd is authorised & regulated by the Financial Conduct Authority: 481182

An Introduction

Registered Office:55 Victoria Street, Burnham-on-Sea, Somerset, TA8 1AW

Telephone: 01278 788646 • Fax: 01278 789237 Enquiries@pwcltd.co.uk • www.pwcltd.co.uk

Facebook: @positivewealthcreationltd • Twitter: @pwcltd Skype: pwc.ltd

Registered in England No: 4802683.A list of Directors can be viewed at the Registered Office.

Positive Wealth Creation Ltd is authorised & regulated by the Financial Conduct Authority: 481182

Contents:

What can we offer you . . . . . . . . . . . . . . . . . . . . . . 2Why choose us? . . . . . . . . . . . . . . . . . . . . . . . . . 4Prizes and Awards . . . . . . . . . . . . . . . . . . . . . . . . . 6 Testimonials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 The Discovery Journey . . . . . . . . . . . . . . . . . . . . 10 The Discovery Journey in focus . . . . . . . . . . . . . 11Examples from the Results of the Discovery Journey . 16How to find us . . . . . . . . . . . . . . . . . . . . . . . . 18

Positive Wealth Creation Ltd | What we can offer you | 2

What we can offer you

As a provider of independent financial advice to individuals, Trustees, Attorneys, and small businesses, our aim is to work with you to understand where you are now, what you wish to accomplish or create, what is important to you and the challenges you face in order to create tailor made financial plans. Our client groups are varied: ranging from members of the local community, to regional leaders and national organisations. We have a particular specialism concerning the Judicial Pension.

I always refer to Jenni as my finance fairy as I think that you work magic!“

Our clients benefit from our services because they want to: Feel understood; Work with someone they can trust; Make intelligent choices based on impartial research; Know what actions to take to get them to where they want to go.

We talk with clients at all stages of their decision making and you might: Have an existing investment portfolio but be unsure of its progress or whether its composition is consistent with your objectives; Need to consider additional pension provision to boost your retirement funds or to save income tax; Want help with the many forms and options from

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Positive Wealth Creation Ltd | What we can offer you | 3

multiple pension providers as retirement is approached; Have received a recent inheritance, proceeds from a property sale or lottery win, and want to know how to invest the funds; Wish to protect your family through organising life insurance or making your affairs inheritance tax efficient. This may include the use of Trusts; Require assistance organising a relative’s finances to fund nursing care fees.

Thank you once again Positive Wealth, hoping for many more years of financial co-operation.“

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March 2017 Client Event.

Positive Wealth Creation Ltd | Why choose us? | 4

Why choose us? Positive Wealth Creation Ltd was founded in 2003 and is owned by Jenni & Alex Turco. Jenni began her career in financial services in the 1970s, whereas Alex started upon completing his degree from Jesus College, Oxford in 2000.

Positive Wealth Creation Ltd provides independent financial advice. This means our advice is unbiased and unrestricted. It is based on a comprehensive and fair analysis of all retail investment products, which are capable of meeting the investment needs and objectives of clients.

Executive Chairman: Mrs. Jennifer Turco B.Sc (Econ) Hons, APFS; Chartered Financial Planner.

Operations Director: Alex Turco MA, APFS; Chartered Financial Planner.

Jenni & Alex are both UK Chartered Financial Planners, which represents the ‘Gold Standard’ within the financial advice profession.

Alex Jenni

Thank you both for giving me such personal and kind attention!

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Positive Wealth Creation Ltd | Why choose us? | 5

Jenni and Alex are supported by the Positive Wealth Creation Ltd team:

Miss Lucy Bennett BA (Hons), DipPFS, is a paraplanner and trainee financial planner. Jonathan Walter is our Operations Executive.Miss Sioned James BA (Hons), is a trainee paraplanner.Mrs. Janet Lyons is our Administrator and may be your first point of contact.Malcolm Winlow ACIB, is our financial controller.

as well as specialist sub-contractors in regulatory compliance, IT, premises and grounds.

The team offers you a personal service. We aim to respond to telephone calls, emails and letters within 72 hours of receipt.**This may be extended between Christmas and New Year.

The Positive Wealth Creation Ltd team.

You are a signpost in a maze. Amazing!“

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Positive Wealth Creation Ltd | Prizes and Awards | 6

Prizes and Awards

We have been awarded the prestigious title of ‘Chartered Financial Planners’ by the Chartered Insurance Institute (CII). Chartered Status has been granted each year since 2008 and is subject to annual reassessment. This exclusive award is reserved for those businesses meeting a ‘gold standard’ relating to professionalism and capability. This means that we follow a demanding code of ethical practice and places clients’ interests at the heart of the advice given.

Receiving a ‘Highly Commended’ Award at the MoneyAge Awards Ceremony in October 2016. Positive Wealth Creation Ltd had been short-listed to win the Financial Adviser of the year (small to Medium Firm).

Jenni and Alex at the MoneyAge Awards.

Positive Wealth Creation Ltd | Prizes and Awards | 7

Alex & Jenni with former Personal Finance Society Chief Executive, Fay Goddard receiving their Chartered Financial Planner qualifications at the Chartered Insurance Institute’s Chartered Financial Planner Graduation event.(1)

Alex receives the Insurance Institute of Bristol (IIB) award for Best Paper in CF8 Long Term Care from Paul Timmins.(2)

Jenni receives the IIB Trophy for Best Completion of the Advanced Financial Planning Certificate from Rod Smith and Richard Moss.(3)

Jenni receives the IIB award for high performance in G10 Taxation & Trusts from Paul Laughey.(4)

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Positive Wealth Creation Ltd | Testimonials | 8

Testimonials

PERSONAL FINANCIAL MANAGEMENT“I just wanted you to know that I really am most grateful to you both for the careful, impartial and very professional way in which you take care of my affairs.”John Thorley OBE, FRAgS, Founder Chairman of the

Campaign for Wool

AT RETIREMENT“Alex and previously Jenni have looked after me for over 40 years now and have always given the best possible advice for my circumstances and now I have retired Alex has guided me through my options to provide for a comfortable future, I have recommended Alex to family and friends and they have been extremely impressed by his dedication to look after their financial requirements. I would have no hesitation in advising anyone who may ask to use the services of Positive Wealth Creation Ltd.”Mr West, Bristol

INVESTMENT ADVICE “Since Positive Wealth Creation Ltd. has managed my portfolio I have been pleased with the attention to risk management and portfolio construction. In particular, my portfolio has been diversified over many different asset classes, sectors and geographical regions to reduce the risk. I have face-to-face meetings roughly every six months to review the portfolio. These meetings allow for a useful exchange of views and make sure that Jenni, and more recently, Alex know about my affairs in detail.”Tony Pearman

Once again I have to say that the service is excellent. Always there when I need any help or advice.

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Positive Wealth Creation Ltd | Testimonials | 9

“Thanks for all your time and expertise over the years looking after my investments. My daughter & I always look forward to meeting you, Alex and the team every year.”Mrs. Whittle, Bridgwater

TRUSTS“It never occurred to me to ask for financial advice until by chance, a respected friend introduced us. Your advice and support over a long-standing complex Family Trust issue made all the difference due to your practical common sense, which was approved and admired by my Solicitor, who is a member of the Society of Trust & Estate Practitioners (STEP)”.Mrs. C, Wiltshire

LONG TERM CARE PLANNING“My husband’s catastrophic stroke in 2011 coupled with the untimely death of my only sister radically changed our financial circumstances. We need reliable advice to maximise our income and ensure good capital growth to cope with the many demands of the new lifestyle. We have been delighted with the recommendations and support we have received from Jenni and team. We would not be in the position we are today without their excellent professional service.”Mrs. E, North Somerset

Convincing advice and recommendations and ability to convey a clear message of interest suitable for our needs.“

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Positive Wealth Creation Ltd | The Discovery Journey | 10

The Discovery Journey

New and returning clients follow our six step process along the Discovery Journey:

1. INTRODUCTION The thirty minute initial meeting is at our expense with no obligation. The purpose is to allow you the opportunity to share with us your aims and objectives and allow us to explain how we can assist in achieving your goals.

2. DISCOVERY We obtain full information regarding your existing affairs. We build up your present position in a range of different areas dependent upon circumstances including asset allocation, income, taxation and pension provision.

3. ANALYSIS Having considered your circumstances, established the options from your existing arrangements and reviewed these against the open market, we provide a written report and where appropriate projections and forecasts.

4. RECOMMENDATIONThe second meeting explains the recommendations we make in order to achieve your aims and objectives. We shall discuss how to proceed and you can decide upon the next steps.

5. IMPLEMENTATION Administration of the agreed actions including: completion and submission of application forms and paperwork, tracking progress with product providers and arranging the production of policy documentation.

6. AFTERCARE We offer a range of aftercare services depending upon the nature of the financial arrangements and the complexity of the clients affairs. Further information about these services is found on page thirteen.

Positive Wealth Creation Ltd | The Discovery Journey in Focus | 11

INTRODUCTION:

We complete a full fact find to establish your current circumstances and priorities. We use a Risk Profiler Questionnaire in order to help determine your attitude towards investment risk. We explain our services and costs. We ask you to sign a client agreement to agree the basis upon which to proceed. We ask you to sign a letter of authority. This enables us to obtain information about your existing financial arrangements. We outline the identity verification requirements to meet anti-money laundering rules. We agree the action and next meeting date. This half hour meeting is at our expense.

DISCOVERY:

We obtain full information regarding your existing affairs from your existing financial providers. For investments, we consider your existing fund selections, costs and levels of income to model your asset allocation. For pensions we review your current arrangements, contributions, projections at retirement and any important contractual benefits. For those approaching retirement we establish the options available from the existing schemes. For those requiring financial protection, examine the benefits provided by existing arrangements. In all circumstances, we take into account the taxation position. Before we start work, you will have signed our Client Agreement because you are comfortable with the cost of this stage of the journey.

The Discovery Journey in Focus

Positive Wealth Creation Ltd | The Discovery Journey in Focus | 12

ANALYSIS:

You benefit from our Knowledge, Advice, Time, Experience and Expertise. For investments, we remodel your asset allocation based on your risk profile and our own asset allocation rules. For pensions, we determine scope for greater provision and we explore the most appropriate structures to meet your goals. For those approaching retirement we investigate the most suitable options for your circumstances. We calculate taxation savings available or allowances and reliefs not being utilised. In some cases, cash flow modelling is undertaken. Opportunities for consolidation are evaluated where benefit outweighs cost. The fee for this will be identified in our Client Agreement.

RECOMMENDATION

We will prepare a written report for you with our proposals, usually presented at ameeting, which can include: Proposal of an asset allocation suitable for your risk profile; Recommendation of suitable funds to meet the asset allocation; Product structures appropriate to your taxation position; Offering a range of retirement options; How to maximise the use of your pension fund; Suggesting ways of legitimate tax mitigation; Streamlining the administration of your affairs where it is cost effective to do so; Strategies to protect your assets where appropriate; Cash flows for care fee planning. Our charges will be in line with the Client Agreement.

Positive Wealth Creation Ltd | The Discovery Journey in Focus | 13

IMPLEMENTATION

Completion and submission of application forms; Tracking progress and regular chasing of product providers; Dealing with any queries from product providers; Production of policy documentation; Record keeping. Fees will be as detailed in our Client Agreement.

AFTERCARE

We pride ourselves on being alongside you for the whole journey and the quality of our aftercare is based on our years of experience. We know that most clients benefit from some form of aftercare or ongoing service. The level is personal to you and will depend upon the types of arrangements and complexity of your affairs.

Therefore, we offer four different levels of aftercare depending on your individual needs as details below.

BASIC AFTERCARE

Maintenance of records; Three newsletters per annum; Access to publications and news through our website; Notification of any substantive change in investment funds. This is provided at our expense.

Positive Wealth Creation Ltd | The Discovery Journey in Focus | 14

CORE AFTERCARE

Maintenance of records; Three newsletters per annum; Access to publications and news through our website; Annual Planning invitation; Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to one hour per annum; Notification of any substantive change in investment funds; For fund platform clients, annual invitation to switch investment funds into an ISA; For pension fund drawdown clients taking income, internal monthly monitoring of fund value. Fees will be as detailed in our Client Agreement

ENHANCED AFTERCARE

Maintenance of records; Three newsletters per annum; Access to publications and news through our website; Annual Planning invitation; Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to two hours per annum; Notification of any substantive change in investment funds; For fund platform clients, annual invitation to switch investment funds into an ISA; For pension fund drawdown clients taking income, internal monthly monitoring of fund value; Thirty minutes contact with other professional advisers yearly; Sundry general administration as required (for instance assistance with paperwork, or on the death of a spouse/partner) for one hour per annum. Fees will be as detailed in our Client Agreement.

Positive Wealth Creation Ltd | The Discovery Journey in Focus | 15

BESPOKE AFTERCARE:

Maintenance of records; Three newsletters per annum; Access to publications and news through our website; Annual Planning invitation; Advisor contact by telephone, by email or by post for advice and guidance: general queries on existing portfolio of up to two hours per annum; Notification of any substantive change in investment funds; For fund platform clients, annual invitation to switch investment funds into an ISA; For pension fund drawdown clients taking income, internal monthly monitoring of fund value; Thirty minutes contact with other professional advisers yearly; Sundry general administration as required (for instance assistance with paperwork, or on the death of a spouse/partner) for one hour per annum.

And your choice from: Up to quarterly portfolio valuations; Up to three one hour adviser meetings per annum; Up to one hour additional contact with other professional advisers per annum; Reduced fees on variations to existing platform business. Fees will be as detailed in our Client Agreement.

What is an ‘Annual Planning Invitation’?

This is a formal invitation encouraging clients to use their aftercare service. A written valuation is provided to those who respond, including progress of funds and updated asset allocation, and an assessment of ongoing suitability. If there are any areas of concern, these will be identified. If further work arises from this exchange, such as changes to the existing portfolio, you will be notified of any additional charges.

Positive Wealth Creation Ltd | Examples from the Results of the Discovery Journey | 16

Examples from the Results of the Discovery Journey

OVERVIEW OF FIVE PENSIONSMr A became a Civil Servant after many years employed in the private sector. Mr A had lost track of five old pensions, so we offered an Overview to carefully compare their costs and benefits first. Cost: direct Fee of £1,000.

Detailed comparisons with an up to date plan including all new pension freedoms showed lower ongoing charges & a higher projected retirement fund in eight years’ time by transferring £88,000. Two other plans had valuable Guaranteed Pensions so were kept.Second project fee: £2,640 facilitated by Customer

Agreed Remuneration and Core aftercare cost: £500

per annum.

PREPARING FOR EARLY RETIREMENT AT AGE 57 Mr B approached us three years before his selected retirement date after choosing us from www.unbiased.co.uk. He was confused about maximising pension options for a paid up final salary scheme with two associated AVC plans, an existing Stakeholder Pension and a current Group Personal Pension worth a total of £800,000.We charged a direct fee for the Overview of £1,500.

Two and a half years later, Mr B decided to retire & followed our earlier advice to amalgamate the AVCs with the final salary scheme to produce escalating guaranteed lifetime pension of £28,000 per annum which is sufficient for his lifestyle after taking maximum tax free cash. For the remaining two personal pensions, these were amalgamated where maximum tax free cash was taken and the balance placed in Flexi Access Drawdown. Mr B selected Customer Agreed Remuneration to facilitate tiered initial fee of

£3,800 & Enhanced Aftercare of £1,000 per annum.

Positive Wealth Creation Ltd | Examples from the Results of the Discovery Journey | 17

CARE HOME FEES Miss D aged 89 lost physical and mental capacity, so her house was sold and she required £585 per week care home fees. Her Brother acted as Power of Attorney and was recommended to see us by an existing client. A financial planning proposal showed that £139,000 was needed to pay fees from 2015 till 2019. For the fees from 2020 onwards, several collective investment funds totalling £125,000 & a Life Insurance related Bond for £57,000 were transacted. Initial project fee: £4,000 by invoice and Enhanced Aftercare cost: £1,000 per

annum.

These case studies are for information purposes only and do not constitute a recommendation. Tax reliefs quoted are those available when the work was done and are subject to change. Costs are based on the tariff prevailing at the time and ongoing income has been mapped to current aftercare tiers. Investments and income derived can go down as well as up, you may not necessarily get back the amount you invested – it is important that you take advice.

INVESTMENT OF INHERITANCEMrs C’s father died suddenly and left her £200,000. We discovered that she would like a three year career break & to start a family.We prepared a financial planning proposal showing that £20,000 should be placed in an interest bearing current account, £70,000 in a series of fixed period savings accounts and £110,000 in Investment funds for the medium term.Initial project fee: £3,000 facilitated by Customer

Agreed Remuneration and Core aftercare cost: £500

per annum.

How to find us

We are five minutes from Junction 22 of the M5 and the A38. From the M5 roundabout, travel towards Burnham on the B3140 for 1 ½ miles. Go straight on at the Tesco roundabout, and continue until you reach a mini roundabout with an Esso Petrol Station directly ahead of you. Bear right, signposted towards the Town Centre, and then take the first road on the left. Directly ahead of you is St. Andrews Church as the road bears left. We are immediately on the left.

Parking is free for one hour opposite the office. The closest car park is at the Community Centre Car Park on Berrow Road next to the Burnham Swim & Sports Academy. This is two minutes’ walk away.

Further information about our terms and conditions, fees, disclosures, risk warnings and disclaimers can be found in our Client Agreement, which is available upon request and published on our website.

Information correct at the time of publication, which is August 2019.