Do you have a financial advisor?

[Bognog]

If you earn over £100k do you have a financial advisor? My taxable income falls between £100k and £125k due to shares vesting. I can't afford to put everything over £99k into my pension at the moment but am wondering if others use a financial advisor to help weigh up all options. If so, does anybody have any recommendations?

What are you hoping to achieve from talking to a financial advisor? If you want to reduce your tax bill then the only viable route is to put money into a pension. You could put money into an ISA or overpay your mortgage, but you'd still be paying a marginal rate of 60%

Sorry it's the shares I'm not clear on. They're taxed at around 50% when they vest but then they count towards my taxable income so feels like being double taxed.

Any shares that are vesting are treated as income for taxation purposes. Most companies will withhold a certain number of shares and pay tax via PAYE. If your company doesn't do that then you will need to declare it as income via self assessment. If you want to reduce tax bill then make a payment into your pension

I don't have an IFA. I interviewed a couple a few years ago but the charges were so high I didn't engage either of them and carried on doing things myself.

I don't know anything about shares vesting but it sounds like you understand the options. For the amounts at stake I don't think an IFA would save you money.

Thanks all, makes sense. I guess that's just the way it is then. Just a bit frustrated about losing the childcare benefits and personal allowance.

Yes. An ifa has saved us a lot of money

Accounts yes, solicitor yes, banks/building society stuff yes. But not a financial advisor. Never felt the need

NC for this

Yes - our income is too high to get childcare benefits and we can't reduce enough as there's a large discretionary variable component to our comp.

We are not good at stocks and shares management, so they do that for us and helped consolidate old pensions and I'm seeing improvement in performance everywhere so worth it for us.