It’s official – Private Banks no longer fashionable

According to a new report commissioned by JP Morgan, wealthly individuals no longer wish to deal with private banks, now there’s a surprise. The report, titled The Wealth Management Report: Meeting the Expectations of UK High Net Worth Individuals, analysed the challenges facing the wealth industry, particularly the changing demands of the new young high […]

Coming into Sudden Wealth?

Question: Duncan, what practical steps should I take now that I’m a ‘sudden wealthflow’ recipient? Answer: Generally speaking, people who come into money quickly, such as lottery winners and people who receive large inheritances, usually make decisions too soon. They put their house on the market and buy a new, bigger one right away. They […]

Q&A: Foretelling The Future?

Question: Why can’t advisers tell the future? Answer: No one can systematically predict the future. Market prices are forward-looking and are set based on expectations. As new information emerges, it is quickly reflected in prices, but future news is by definition unknowable. The sensible approach is to control what you can (e.g., diversification, taxes, costs, […]

Unnecessary inheritance tax

UK taxpayers are wasting millions of pounds due to poor IHT planning according to annual research by Unbiased.co.uk. The research shows that the overall amount of unnecessary inheritance tax payments totaled £1.9 billion last year. The amount of wasted IHT payments has risen by 24 per cent compared to the previous year, 2007 equaling an […]

What is Sudden Wealth?

Question: Duncan, I hear the term ‘sudden wealth’ more and more often these days, but what is it? Answer: Well there’s gradual money and there’s sudden money.  Most of us are used to gradual money – earning an income and building a nest egg over time.  It’s a slow and steady process.  As our net […]