For many, the stresses and demands of work often leaves little time to consider your personal affairs and it is easy to put things on the back burner. International jobs whilst often paying “top dollar” can be transient in the regard that you may be in Paris this year and New York the next. Compound this with changes of employers and local pension regimes (if there is one) and one can quickly find that retirement provision is fragmented and very soon not in line with current earnings or expectations for your exit from business and eventual retirement.
A survey by Old Mutual Wealth has found that 38% of international financial asset management professionals would like a review of the new QROPS pension transfer scheme rules. Only 20% said they were happy with the new rules, while 40% described themselves as “unsure”.
As part of rules introduced in April 2015 those undertaking QROPS pension transfers should receive independent and impartial advice from a professional appropriately authorised by the UK Financial Conduct Authority.
As an IFA I have become very sensitive to market reactions and I have always had an interest in current affairs, but at this time even I am getting bogged down by this endless supply of bad news.
The recent drops in the stock markets are simply down to confidence and not of the same making of the crisis eight years ago.
I still struggle to see why a barrel of oil at $27 dollars compared to the $108 of eighteen months ago is anything other than good news. After all, there are more consumers of oil than producers. Motorists felt the positive effect immediately and users of oil in industry such as manufacturing plants or airlines should post better than expected quarterly profits, which may help dividend levels. In many cases this is yet to be rolled out.
Last weekend The France Show brought its exhibitors and visitors the best of France – food, wine, property, holiday ideas, travel offers and entertainment – all under one roof. Visitors experienced a great French market, cookery demonstrations, tutored wine tastings, language and travel theatre, and even a chance to play pétanque!
The France Show also hosted the largest French Property Exhibition in the UK.
The Blacktower France Team would like to thank all the visitors who came to the 2016 show and visited the Blacktower stand.
Executive Director at Quilter Cheviot Investment Management
Over the last couple of years it has paid to be prudent about one’s optimism. Funded by Quantitative Easing, economic growth was expected to top 3% per annum by a comfortable margin. That always seemed too ambitious to me, but a 2% world with low inflation was still a good place for investors.
It all began when some friends and I decided to set up an independent IFA firm back in the mid 80s and consequently Blacktower was born. I honestly didn’t think that 30 years later I would still be here managing the Pan European and International Wealth Management company that Blacktower has evolved into today.
Starting our careers in London with Schroder Financial Management gave all four of the founding directors of Blacktower a great background and insight into the industry as it was back in the early 80s, and we had all enjoyed the success of representing such a great brand as Schroders.
Many people have pension pots just sitting, not really doing anything, but at every stage in life it is very important that you should keep track of your retirement provision.
If you are in your 30s or 40s look closely to what provision you have and what you might need in the future. State Benefits are not going to kick in for you until you are 67.
If you are in your 50s then this is a very critical period. One bad investment year can affect the income you receive for the rest of your life, so make sure you are looking at setting your investments up in a balanced way so that no unforeseen disasters can hurt you – this is called ‘Life Styling your Pension Pot’.
A famous Spanish song is entitled ‘Seville has a special colour’ and Seville is indeed warm, vibrant, full of history and has a great atmosphere – whether you are into all of that or merely enjoy a glass of red wine and a plate of 5J Spanish Ham.
Seville was the chosen City for Blacktower Financial Management Group’s Annual Conference held on 15th January 2016.
Not just any conference…no! On the strike of midnight that night BFM Group turned 30 years young. So, this was not just a celebration of our achievements throughout the year – but one of history and recognition.