News

Over the last few months, we’ve explored several core themes around retirement, from sustainable income and the State Pension to inflation and longevity. At Ifamax Wealth Management, our journey began more than 20 years ago, and from the very start, we approached financial planning differently.

The State Pension has been part of the UK’s financial landscape for more than a century, but its purpose—and the way we plan around it—has changed dramatically over time. At Ifamax Wealth Management, our Bristol-based financial planners help clients understand how the State Pension fits alongside their wider retirement strategy, ensuring it becomes a foundation for a secure, tax-efficient future.

The 2025 Budget introduced several significant tax, pension, property and investment reforms. While Budgets often create noise and speculation, the real value lies in understanding what has genuinely changed and how these measures may influence long-term financial planning.

Building a business is rarely straightforward. In the first year, around 94% of new businesses survive; however, by the fifth year, this drops to approximately 40%, according to the Office for National Statistics. 

When planning for retirement, most people focus on market risk. But one of the biggest threats to your future lifestyle isn’t stock market volatility; it’s inflation. 

Retirement today looks very different from that of our parents or grandparents. Defined Benefit (final-salary) pensions, once the backbone of retirement income, are now available to only a small minority of people. 

Retirement used to mean a fixed birthday, 60, 65, or whatever your employer decided. Today, that traditional idea has evolved. Retirement is no longer an age; it’s a financial milestone, your freedom date. 

Retirement is one of the most significant challenges we will face in our lives. The landscape has undergone substantial changes over the past generation.

The recent FCA Thematic Review on retirement income highlights a simple truth: delivering income in a tax-efficient way can make a big difference to your long-term wealth. But tax planning isn’t just for retirement—it’s just as important in the years leading up to it.

A common question we hear is: “Why should I pay a regular fee for financial planning? What do I really get for this?”

Over the last 30 years, financial advice has evolved—from selling products, to investment specialists, to today’s holistic financial planning.

As an employee, life is relatively straightforward — you work, you get paid, and your employer takes care of things like pensions and tax deductions. For business owners, it’s a very different story.

We are pleased to announce the successful completion of a management buyout (MBO), with existing directors Ashton Chritchlow and Jamie Jacobs now becoming the majority shareholders of Ifamax Wealth Management, marking a significant milestone in our firm’s journey. 

Investment risk is about more than just numbers on a screen; it’s about behaviour. History is full of examples of market bubbles, from the tulip mania of the 1600s to the dot-com boom in the late 1990s.

When most people think about financial planning, they imagine numbers, budgets, and spreadsheets. But at Ifamax Wealth Management, we believe true financial wellbeing is just as much about mindset as it is about money.

Estate planning means different things to different people. Some might ask, “Does it matter to me personally?” Others are more concerned about ensuring their beneficiaries receive the maximum from their estate. For many, estate planning isn’t something they feel the need to worry about—until it’s too late.

Building a business takes time. The early years are often the most challenging — juggling cash flow, securing clients, and wearing multiple hats. Even when your company becomes established, you continue to face ongoing pressures, including managing a team, adapting to market shifts, and constantly thinking ahead. 

It’s easy to put off pension planning, especially when retirement feels a long way off. However, the longer it’s delayed, the harder it becomes to retire on your terms.

One of the most frequently asked questions is: When is the best time to seek financial advice? Often, it’s triggered by a significant life event – an inheritance, approaching retirement, divorce, or a change in employment. But there’s rarely a perfect time. 

It’s worth reflecting on how the job market has changed over the past few decades. Thirty or forty years ago, many people stayed with one employer for life, often with access to a defined benefit pension scheme that provided a guaranteed income in retirement. 

Inheritance Tax (IHT) is often described as a voluntary tax, not because it isn’t compulsory, but because so much liability can be mitigated with proper planning. Yet, despite this, HMRC collected £7.5 billion in IHT receipts in 2023/24, up from £2.22 billion in 2000/01, according to Statista and HMRC.

Planning for Your Family’s Future

Who inherits your pension when you die? For many people, the answer is unclear — and often wrong.