There is often a misconception that savings and investments are the same thing but this is not the case and it is important to understand the difference between them.

Few people today, hide their savings ‘under the bed’ or similar but public confidence about savings is often ‘clouded’ by a lack of understanding about today’s current financial climate.

Put simply, savings are often for short-term purposes and comprise of money that is saved on a regular basis and kept as an emergency fund or used to make moderately large purchases such as a car or holiday. This money is usually kept in bank or building society accounts and includes tax-free cash ISA’s (Individual Savings Plans).

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Longer-term savings, usually money that is put aside for at least 5 years are ‘Investments’, although there are some caveats to this rule such as ‘regular savings plans’ which are designed to continue for a longer period of time, such as saving to help children with higher education fees etc. The objective of having money held in investments is to increase the value and/or provide an income.

Knowing where to invest your money and understanding the level of risk that may be involved is not always an easy thing to do. That is why investment planning is so important. Seeking appropriate independent financial advice will ensure that money is invested appropriatley and is working for you.

In the current economic climate, with bank and building society interest rates at an all-time low, large amounts of savings being kept in these types of accounts are unlikely to yield a good return and there is a risk that some may not even keep pace with inflation. It is therefore good to know that several other options are available, such as shares, bonds, gilts and even property where appropriate. These investments do not include the same security of capital which is afforded with a deposit account .

If you are prepared to be patient by looking to save/invest money for a period of at least 5 years and wish to try and achieve a higher rate of return than with a deposit account, then it is important you receive proper independent financial advice to ensure your money is invested wisely.

Black Financial Services advise people how best to manage their money and achieve the most out of their savings and investments. We achieve this by offering you personalised investment advice and calculate a tailor-made investment strategy to suit your needs and based on your preferred balance between risk and return. Being fully independent, we aim to offer the widest choice of investments and providers to obtain capital growth, regular income or a mixture of both, and to be as tax efficient as possible. It is important to us, that any charges or fees applied by the ‘product providers’ which could include fund managers, platforms and insurance companies, are as low as possible. By using modern market facilities, we provide complete transparency with regard to charges, with the added advantage of any discounts, as well as having access to funds with lower charges, not available to you as an individual. We can offer our clients large company products and facilities with small company charges.

Collective investment schemes have built-in charges which vary and are often difficult to understand. Another issue that often concerns people is the time frame of their investment. We will make sure we fully understand your intentions with regards the term of your investments and that any built-in charges are properly explained. We will also make sure you understand all the risks involved with your investment. In certain cases, we also use the facility of a Discretionary Portfolio Management Service which has proved to be a great asset to our high net-worth clients. This service is totally developed to reflect the requirements of each and is closely monitored, giving you the client, peace of mind.

The value of your investment including property and income from them can go down as well as up and you may not get back the full amount invested

Please contact us for further information on investments and savings.

The guidance and/or advice contained within the website is subject to the UK regulatory regime and is therefore primarily targeted at customers in the UK