About Michael Philips
Small firms and even very large international businesses with their own HR departments realise it is a better to delegate the responsibility for sourcing and implementing complex group arrangements to specialist Independent Financial Advisers, like Michael Philips, than to try to do everything themselves and bear the responsibility if any of the advice turns out to be incorrect or out of date. This is particularly true if you have legacy schemes which are usually far more complex.
It is also usually much cheaper!
Because we have the expertise to properly compare the many different schemes, we can ensure you get the best value for money and only pay the right price for what you actually need and want and make sure that you get good service too.
Some Areas Where We Provide Advice:
Once they reach their Staging Date, all employers must offer their staff a pension scheme into which they can Auto Enrol, that is, automatically join if they meet certain age and salary criteria. In our view, for Employers it is more about the process than the actual pension fund and the costs of getting it wrong in terms of additional administration and fines could damage if or even break many firms. We can advise you how to meet your obligations with the minimum of hassle and cost.
Most employers see pensions as a tax efficient way of paying their staff but few realise the full potential of the tax saving. We guide you, and your staff, through the whole process.
Group Private Medical Insurance
Finding and recommending the best value Group Private Medical Insurance is why companies seek our help. Whether you want UK cover only, or to include foreign travel, we can recommend the best solution for your company’s specific needs not just once but every year.
Death In Service
Many larger companies now provide life insurance of up to four times salary. We can find you the best value cover and make sure it remains competitive every year.
Longterm Disability or Permanent Health Insurance
If your contract of employment says you will pay staff even if they are unable to work due to ill health for extended periods of time, how will your company afford it? We can help you specify and source the best value cover and make sure it remains competitive every year.
Key Man and co-shareholder Insurances
If a key employee died or was unable to continue in their current role, how might that affect the value of shares in the business? If he or she was also a significant shareholder, could the business survive and could the other shareholders afford to buy them out for a fair price? We explain your options and can recommend affordable solutions.
Relevant Life Policies
Smaller companies who cannot justify Death in Service schemes still wish to provide tax efficient life insurance for a few key staff or directors. We show you how and at the best value.