Jeremy Hoyland
CEO
Bill Gates once said “We all need people who will give us feedback. That’s how we improve.”
When we ask you our clients why do you work with HFMC Wealth, the key benefits very often highlighted are:
– the careful and considered support and advice we provide which is tailored to you,
– the reassurance of having a trusted professional team in your corner whatever the circumstances,
– over time the peace of mind that comes with key financial goals being identified and achieved.
A key part of this approach being successful are the regular reviews we aim to hold with you. These are opportunities for us to better understand your current circumstances and your goals. They also provide you with the opportunity to tell us what’s working and what might be improved in terms of how we serve you.
Over time, circumstances will change. You may start or leave a job; begin or end a relationship; move home or even continent; start or sell a business; lose a loved one; welcome children and grandchildren to your family. Each of these events will mean reviewing your goals and your progress towards them.
And then there are all the things none of us can control – in recent years we have lived through many such events. The last few years have seen bull and bear markets, inflation at a 40-year high, wars and conflict, a pandemic, rising interest rates, and now the uncertainty of UK and overseas elections.
While with some of these circumstances, at times, a modification to part of your strategy may be needed, it is important to remember that with most such events in the long run, the effect is more noise than substance and usually should not alter your long-term plans.
This edition of The Wire reflects some of these themes and highlights why often short-term political and economic headlines shouldn’t throw your plans off course.
You can read about the opportunities available following the last couple of Budgets thanks to increased pension allowances and changes to international planning rules.
There’s also an interesting article inspired by the late Nobel Prize-winning economist Daniel Kahneman looking at how risk aversion and a fear of losses can affect your progress towards your goals.
Also, hear from our later-life lending expert, Eli Kosiner, who shares an alternative approach to Inheritance Tax planning, and from Steve Powis in his thought-provoking article about why it’s time for business owners to review their employee benefits.
Finally, for those of you with children currently sitting their A-levels and looking to go to university, you can read a timely article looking at how to practically tackle empty-nest syndrome.
Wishing you all a fantastic summer,
Jeremy
