Every NorthStar Client Has a Unique Set of Goals and Requirements
There is no such thing as a typical NorthStar client. We work with a wide variety of people who want to make the most of their money and plan for a better future.
Many of our clients sign-up to NorthStar between the ages of 35 and 55 and are looking for a better financial planning and wealth management experience. They understand that technology can help us deliver better services to them and they like the convenience this brings them.
We are proud of our dedicated to building long-term relationships and are committed to helping our clients right through their lives into old age.
Our clients can broadly be classified into the following groups:
Young Professionals
These clients are typically aged between 30 and 45 and are often looking at growing their wealth, planning for their future and protecting their young families. It is essential for young professionals to start saving money for their retirement using investment or pension products. We help put together proper investment strategies for this money to ensure it is working as hard as possible. We can help work out how to fund the purchase of a property, weddings or other large one-off expenses. We also help ensure our young professional clients and their families are protected by arranging suitable income and health insurance products to cope with life’s unexpected events. Many young professionals are financially stretched with large mortgages or high rents, young families to provide for and many other expensive. This is where a full financial plan is of real use. We can help show which financial priorities should be addressed and put in place the necessary policies to make this happen. This provides financial peace of mind, knowing that their wealth is being managed effectively and they have a long-term financial plan in place.
Key Focus Areas:
- Starting to invest
- Funding a house purchase
- Making a will
- Protecting your income
- Establishing a pension
Young Entrepreneurs
We work with many young entrepreneurs who are passionate about their own business. Most entrepreneurs have little time to manage their investments and finances successfully and really value the service NorthStar can provide. We find that most entrepreneurs value simplifying their finances and getting a good handle on what they have and what they need. We work with entrepreneurs to help them manage their finances by creating a comprehensive financial plan with concrete steps to achieve their goals. We also ensure they can invest in their own future as well as investing in their growing business. Often, we help protect their financial position should the worst happen with wills, trusts and insurance products.
Key Focus Areas:
- Funding your business
- Starting to invest
- Making a will
- Establishing a pension
- Protecting your health
Senior Professionals
Typically enjoying relatively high salaries, many in this group have income to invest in savings or pension products to ensure they can retire at a time that suits them. There are also often significant tax planning opportunities. In addition, it is important to review protection policies regularly for many senior professionals. A loss of income due to illness or death can often cause a significant impact where a high salary is earned. Many senior professionals we work with are caring for their own children as well as their parents. This can present financial challenges such as how to best fund education and university fees as well as how to fund older age care and support for their parents. Many senior professionals also take the opportunity to put their finances in order by consolidation their pensions, updating their will and planning for how they can fund their latter years. Above all, most senior professionals really value having a comprehensive financial plan to show them exactly when they can afford to retire, how best to organise their finances and to give them true financial peace of mind.
Key Focus Areas:
- School/university/wedding fees planning
- Investing an inheritance
- Divorce planning
- Early retirement
- Pension consolidation
- Tax planning
- Income protection
- Life insurance
- Critical income protection
Senior Business Owners
We find that many senior business owners are focused on maximising their investments and pensions and some are thinking about how and when they may want to exit their business in the longer term. We work with these clients to maximise investment returns, help them invest for others in their family such as their children or grandchildren and can help with investing and managing an inheritance or other capital lump sums. We also tend to focus on effective pension planning and management. Many senior business owners do not have appropriate wills or trusts in place that are essential to ensure their assets are passed to the next generation in accordance with their wishes. We can help with this and help reduce any inheritance tax issues with careful planning.
Key areas of focus:
- Funding your business
- School/university/wedding fees planning
- Divorce planning
- Drawing funds from your business
- Pension consolidation
- Investing an inheritance
- Tax planning
Approaching Retirement
The run up to retirement is an important time for many people. This will be a big life change for most people and finances play an important part. It is crucial to have a good handle on your finances as well as starting to think about how you want to live in your latter years and how this could be funded. With effective planning and investment management, most people can live well in retirement, but all too often people fail to maximise their finances and have to reduce their standard of living. Many people also start thinking about planning for potential long-term care needs as well as turning their attention to how their wealth will be passed down to future generations.
Key areas of focus:
- Getting the best retirement income
- Long-term care planning
- Inheritance tax planning
Retired
Those who are retired should be able to enjoy their time and do all those things they have always dreamed of doing. From a financial perspective, those who are retired need to keep on top of their income so they know how much they have to spend. Many also think about investing for others such as grandchildren and how they are going to pass their wealth on to the next generation in the best way possible. Another important consideration is planning for long-term care and how this could be funded. Many retired people have considerable wealth stored in their property and may want to use some of this to help fund their desired lifestyle. It remains important to have an up-to-date financial plan into retirement to ensure you never run out of money and can enjoy life to the maximum.
Key areas of focus:
- Long-term care planning
- Financial forecasting
- Inheritance tax planning
- Investing for grandchildren
Awards, Accreditations & Trade Associations
NorthStar is proud to be a member of the leading financial planning trade associations. Through a continued commitment to adhere to the highest professional standards and deliver exceptional service, NorthStar has received a number of awards and professional accreditations.
