Ross Ibbotson
CEO
It’s that time of year again when we emerge from winter with renewed hope and look more forcefully to the months ahead. As I write this, the air is determinedly spring-like and the nights are showing their first signs of lengthening.
Change is certainly on the way. Global politics is moving apace, with Donald Trump continuing to make waves in the White House and on the world stage. We’re set for economic news at home too: the chancellor will deliver her Spring Statement on 26 March, outlining the government’s forecasts for 2025. Tax changes could be imminent, so watch this space and be sure to contact us if you have questions or need reassurance concerning any changes that are announced.
Change and constant renewal are facts of life and it’s something we touch upon in The Wire this time around.
Sebastian Gladwish has been reflecting on high-profile divorce cases, from Bill and Melinda Gates to Jeff and MacKenzie Bezos. In light of the more recent settlement reached by “Brangelina” (that’s Angelina Jolie and Brad Pitt for the uninitiated!) Sebastian offers his three key reasons why financial advice is so vital during a HNW divorce.
Next up, if your children fall into the category of “high earner, not rich yet” – the so-called “HENRYs” – you might be looking for ways to give them the push they need toward genuine and sustainable wealth. Luis Amato is on hand to offer his seven important financial lessons to teach your HENRY children now. From simple budgeting to tax-efficient investing when the Tapered Annual Allowance hits, these must-know tips could provide the nudge they need.
From walking our 10,000 steps to eating our five-a-day, we’re bombarded with ways to stay healthy. But quotas, allowances, and thresholds exist in the world of finance too and they’re just as important. As a report finds that HNWI were more likely to have taken up yoga, employed a personal trainer or turned to alternative medicines than sought financial advice in 2024, Phil Jelly takes a deeper dive. What role does financial wellbeing play in your overall physical and mental health? And could you find a balance that is more beneficial for you?
Then, with the great wealth transfer well underway, recent changes to the Inheritance Tax (IHT) treatment for pensions might also have had you revisiting your estate plans. Managing a legacy is undoubtedly much harder as a HNWI, with more complex rules and higher stakes. Darren Berry takes a look at how you might use life insurance policies to cover a potential liability and the possible tax benefits of doing so.
And while we’re on the subject of the chancellor’s recent changes to IHT on pensions, read the advice that Nick Rudd has to offer. He takes a closer look at the changes and the opportunities they might present to explore different tax-efficient strategies, such as gifting.
Finally, if you’ve spent the winter months chasing the sun, you might be ready to book yourself a 2025 getaway a little closer to home. As a Scot myself, I can highly recommend a staycation in Scotland. Joanna Jenkins has compiled a list of seven Scottish castles to book now, including some dog-friendly options perfect for your pampered pooch.
Best regards,
Ross
