new complementary financial service offered by Hodge Jones & Allen.
We have teamed up with Frenkel Topping Group to provide a new joint venture – HJA Financial Management Services Limited.
Our expert team will provide advice to our customers at the pre-settlement stage and also independent financial advice following the settlement of a claim.
Independent Financial Advice
Life changing events such as a catastrophic injury bring varying emotions and concerns for the injured and their families. Those concerns may include considering your income requirements, care needs, investing for the future and tax planning.
Our overall aim is to help ensure future peace of mind and so our team will spend time with you to understand what families are looking to achieve in the weeks, months and years ahead. We will listen to any worries and work through matters such as cash flow planning and risk profiling.
An initial meeting will be held to gain all necessary facts and financial information to establish customer’s tolerance to risk. Once all necessary information provided, cash modelling will be undertaken to demonstrate the drawdown of our customers’ investments meet their capital and income requirements over their life expectancy.
When making recommendations to you, HJA Financial Management Services Limited will consider many different areas, including:
- What are our customer’s financial objectives in the short, medium and long-term?
- Is there an immediate need for income?
- What investments are suitable to meet your financial objectives?
- Do you have an emergency fund of capital and is it sufficient?
Benefits Advice
HJA Financial Management Services are also able to advise other solicitors and deputies of their customer’s entitlement to welfare benefits and tax credits. A small fee of £250 is charged for the following service:
- An initial discussion to gain an overview of circumstances
- Verbal advice will follow including carers benefits
- Follow-up letter confirming advice
- Further assistance is also available with on-going case work, benefit claim or appeal. An hourly rate (£125) would be confirmed and charged separately.
Personal Injury Trusts
A trust is a formal legal relationship where assets are placed under the control of a minimum of two people known as the trustees, for the benefit of another, referred to as the Beneficiary. The funds received as compensation for a personal injury claim are set up in a personal injury trust. Personal injury includes accidental injuries, medical negligence and industrial disease injury claims.
If a trust is not established, at an appropriate time, you are at risk upon the settlement of your claim that current benefits may either be reduced or stopped. There is risk too that future entitlements to benefit support may be affected.
HJA Financial Management Services provides a free financial assessment to see whether a Personal Injury Trust would be suitable for you. Should you then decide to proceed, our team is able to draw up the legal documents to establish the trust and set up a Trust bank account, on your behalf.
The benefits of using HJA Financial Management Services
- Access to Leading Financial Specialist Advisors – who understand the investment advice needs of those who have suffered a complex and catastrophic injury.
- No Hidden Costs – we will be fully transparent regarding costs. These will be explained to you to ensure thorough understanding and no surprises.
- Constant monitoring and regular reviews – provided by our advisors, who will stay in contact and take the worry away from planning and monitoring your investments. We want you to be able to focus on your wellbeing and enjoying life to the full.
- Extended contact with your solicitor – working with HJA Financial Management Services brings ongoing contact with your solicitor, whilst your future finances are arranged.
- Access to a Welfare Benefits Hotline – you will be only one call away from expert benefits advice and guidance.