Q & A with Mike
How did you get into financial services?
I owned a sports shop for 4 ½ years after college, then having got married and needing a higher income, I found a job in insurance at Liverpool Victoria, my dad had previously worked in insurance so supported me and having changed career into accountancy was able to help with referring clients across to me. I joined Insight in 2010.
What are your areas of expertise?
Succession and Tax Planning.
What do you love helping clients with?
Solving problems and coming up with interesting solutions out of norm.
What advice have you given that helped a client and made you proud?
Where do I start! I have helped clients and their families to save thousands in taxes over the years. A recent case which I am very proud of was for some clients who were in their late 90’s and they, along with their family, wanted to reduce their Inheritance Tax on their deaths, the options were limited at that late of a stage in their lives, however the recommendation I made to them will now save their family £800,000 in Inheritance Tax.
Concentrate as being tax efficient as possible and you don’t need to chase investment returns.
Good advice for your future financial planning!
My wife Jan and I became a client of Insight in 2013 and introduced to Mike Phillips in and around 2016. Due to circumstances arising from a previous financial situation which resulted in a significant loss of confidence in anything to do with finance and investment, it must be said we were more than a challenge for anyone let alone Mike. We also have a family related issue which added to us being what we perceived another challenge to overcome.
More about Mike
What’s your personal financial freedom dream?
The ability to work how I choose and for the right reasons, to help my colleagues and clients without financial pressure.
Tell us about something you’ve done to raise money for charity?
I ran a marathon at 50 for Whizz Kidz and raised around £4,000.
What’s the best thing you’ve ever spent money on?
A family holiday to America with my wife and sister, we made lots of memories which I will treasure forever.
What’s the one luxury you could never give up?
My Arsenal season ticket!
What’s something colleagues would be surprised to learn about you?
I was on a TV school quiz show called Chatterbox at 14.
Invest in pension early as adventurously as possible and leave it for the long term.