Ross Ibbotson
CEO
While we’ve been enjoying heatwaves at home and the success of the Lionesses at the Euros in Switzerland, the global economic outlook has continued to be dominated by global conflict and US foreign policy.
In this edition of the Wire, though, we’re staying close to home – with one notable exception! – beginning with a look at a worrying report into the size of UK pension pots. A disparity between perceptions of retirement costs and the reality means that many, including high net worth individuals, could be underestimating the size of the pension fund they need to accrue.
Broadly speaking, the shortfalls are calculated at between £250,000 and £1 million, but could be as high as £2.5 million for younger savers. Read about the reasons for these potential shortfalls and how HFMC’s expert advice could help.
You will no doubt have read our recent articles about the government’s tax changes and the so-called millionaire “exodus”. The number of UK millionaires is actually on the rise, yet reports suggest that three-quarters of British adults would support a wealth tax in some form. Read about what such a measure might look like, who would pay, and how it could affect your long-term financial plans.
At HFMC, we pride ourselves on building long-term, meaningful and value-added relationships with our clients. We believe that this long-term approach should extend to your family too, beyond your death. Estate and legacy planning – not to mention your long-term financial plans as Introduction from our CEO a whole – should be intergenerational. Read why this is the case, and why communication with the next generation is key.
With technology and AI changes happening at pace, so have the risks of scams. Scammers have used the details of investment professionals in our industry, including HFMC staff, to contact members of the public to try and gain access to their information. Read about this particular scam and the red flags to watch out for, as well as what to do next if you’re approached, or worry that you’ve already fallen victim. As you would expect we have protections in place so you and we can always be sure of who it is we are dealing with when receiving instructions remotely.
Finally, we’re heading away from home and out of this world as we take a closer look at recent reports that minable metals on the moon could be worth more than $1 trillion. From the Space Race and 1967’s Outer Space Treaty to the 2020 Artemis Accords, read about the challenges that face any country or private company looking to take advantage of this lucrative opportunity.
Plenty to be keeping busy with whilst we wait for the leaves to change colour and begin to fall.
Best regards,
Ross
