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Author: Alastair Brown

The Newest Member Of The Team

Raymond James Latest Member!

Over the past few weeks, we have welcomed a new member to the team, Nahla, a 6-month-old miniature Dachshund. Nahla has been keeping us all company in the office on most Wednesdays, becoming an integral part of the team.

She fit straight into the team, providing some positivity throughout the week, and whilst there have been no chewed wires, there may have been an incident where she stole a sausage from Wayne’s lunch!

Nahla will be keeping us company most Wednesdays, so when you next come to our office, feel free to come and say hello.

Longridge Soapbox Derby

Longridge Soapbox Derby

Gary Ward, Head of Branch Financial Planning and Chairman of the Love Longridge business group shares the excitement building around the town for this years’ most talked about event: “We are delighted to be supporting this brilliant, new, fun event which is coming to Longridge in September.”

“Road closures are sorted, Kart applications have been received and the relevant teams are now busily building their perfect racing machines…. as well as choreographing dance routines to perform on the start platform!!”

“Why not see the action from close range? – volunteers are needed to help make the event run smoothly and we would love it if you would volunteer. There are all sorts of things you can do on the day, and you can volunteer as much time as you like. We will provide food and drink for everyone who helps us on the day…Go on! Be a part of the best event of the year!”

Wayne Hayhurst added: “If our involvement helps light the fire for other businesses and individuals to be involved that would be tremendous. The Soap Box Derby gives Longridge the opportunity to say to its residents and visitors, old and new, it’s not just a great place to live but has a real sense of community and purpose.”

See more pictures and details by following the link: lep.co.uk/whats-on/things-to-do/longridge-soap-box-derby

Special Thanks

Ultimately, none of this would have been possible without the shear willpower of some amazing guys, our very own Gary Ward & Wayne Hayhurst.

Thank you. You should be incredibly proud of what you, the community, and the Love Longridge group have achieved. I think it’s time for a bit of well-earned R&R.

What an event. What a team. What a community.
Bigger and better things to come next year… watch this space.

A Different World

A Different World

For the majority of the past decade or so, the western World lived in a low inflation environment.
Low-interest rates and central bank stimulus gave a boom in growth stocks and bonds, which lasted over a decade. We now live in a World characterised by soaring inflation driving cost of living crises.

In investing, it is dangerous to extrapolate the past to the future. I would ask all investors, are your portfolios prepared for the past decade or the coming one?

The hope is that inflation is only temporary, or ‘transitory’ as economists put it. An element will certainly be transitory as supply chains mend and basic material prices ease. However, it would be
remiss to ignore a number of factors that are likely to drive inflation and potentially stagflation throughout the next decade.

Personalised Strategies for business owners and entrepreneurs

Working Age Population

Firstly, working-age populations in the Western World are generally shrinking. An even more important shift is now occurring in China, which has exported deflation across the globe by providing a cheap and efficient workforce for over three decades. Now its workforce is reducing, and wages are rising. If you believe in the law of supply and demand, it is reasonable to believe that a diminishing global pool of productive workers will command higher prices and drive inflation.

Fossil Fuels

Secondly, investment in fossil fuels and nuclear has been reduced before renewables are able to replace them sufficiently. For example, falling capital expenditure has led to new discoveries of oil and gas falling from 30m barrels of oil equivalent a day in 2012 to just 5m in 2021. And arguably, the biggest policy mistake of the last 10 years is that we have less global nuclear output than a decade ago. The problem with wind and solar is that there currently is no way of effectively storing it, so they only supplement the grid when there is enough wind or sun. This lack of investment in fossil fuels and nuclear will be an inflationary force throughout the coming decade as demand will continue to outstrip supply in the absence of severe recessions.

De-Globalisation

Thirdly, we are entering a World of de-globalisation, as tensions between the different civilisations break down and countries ‘re-shore’ manufacturing. One of the first things you learn in economics is the law of comparative advantage. It demonstrates that if an economy can manufacture goods or provide services with a lower opportunity cost than another, which has an advantage in producing a different good or service, then by trading there is a net gain to both economies and people will enjoy goods and services more cheaply. If countries choose to trade with less efficient partners and try and produce goods themselves at a higher cost, this is indeed inflationary.

These elements have been a long time in the making. Inflationary pressure had been building for a
while, even before the pandemic. Re-openings followed by the Russian invasion of Ukraine were just
the spark that lit the explosion.

The outlook for Western economies is grim; central banks are being forced to raise interest rates, exacerbating the cost-of-living crises, and governments have little room to help, having blitzed more
than they could afford implementing lockdowns.

However, it is important to remember that it is always darkest before dawn, and it is when times are dark that opportunities can be purchased at a heavy discount. They must be bought with the future, not the past in mind, though.

A well-thought-out plan can not only help you work toward realistic goals, but also help you avoid costly mistakes.

Reach out to us today for professional, tailored advice so you can look ahead with
confidence.

Risk Warning: Opinions constitute our judgement as of this date and are subject to change without warning. With investing, your capital is at risk

Raymond James, Ribble Valley Receives 4* Audit

Raymond James, Ribble Valley Receives 4* Audit

Sarah Carlin, Head of Branch Client Services at the Ribble Valley branch reflects on our recent branch audit. “We help our clients to make critical decisions about their future by understanding them, their values, goals, and aspirations”.

“As a team, we strive to operate at the very best our ability, refining our processes and implementing new ones to continue to deliver a first-class service to our clients. As a result of our efforts to stay ahead of the curve, we’re delighted to announce that we achieved the highest score attainable in our recent internal audit”.

“It is testament to the team, our hard work, and our constant drive to be the best in the business”.

Day One Of The Rest Of Your Life

Alastair Brown

Visualising what you want in retirement before you get there may lead to greater fulfilment, writes Alastair Brown of Raymond James

Like all major life events, transitioning into retirement will be an adjustment. One day you may go from your seat at the top as a powerful executive to an armchair in your living room. It is important that you are ready for that change, so you can step into your new life with confidence.

Without your career to define you, you may want to discover a new purpose. Finding the answer takes a lot of preparation – emotionally, physically and financially – and a lot of thought.

While the financial component is critical to a sustainable retirement people often forget to consider the psychological factors. If you can start visualising your ideal retirement now, you will set yourself up for a more satisfying and fulfilling one.

“AS YOU WORK TO FOCUS IN ON THE ACTIVITIES THAT WILL HELP YOU LIVE WELL ON A DAY-TO-DAY BASIS, MAKE SURE YOUR VISION IS DETAILED IN A WELL-DOCUMENTED FINANCIAL PLAN”

THINKING AHEAD

Experts say a steady transition into retirement makes for a more successful one. One psychologist suggests focusing on these key areas to consider the life you’re looking for:

Focus on enhancing relationships. Establish weekly game nights with friends or Sunday dinners with family, for example. Be sure to maintain or expand your social life and stay connected. Studies show having friends and family for entertainment and support significantly enhances a retiree’s quality of life.

Keep your mental and physical health a priority. Set up, keep wellness appointments and exercise daily. Don’t forget to relax. You have earned it! Take time for yourself when you need to and nap when you feel like it.

Set key milestones and make sure you feel as financially secure as possible. An adviser will make sure that your financial life is well organised, so you feel in control and won’t leave a mess behind for your loved ones when your time is up. Milestones are a bit like waypoints on a long journey, they enable you to check that you’re on course, without worrying about how much longer you’ve got to travel to get to the destination. Most people’s principal financial milestone is to get to a place where money is not something they worry about, nor holds them back from living the life they want.

“ONE DAY YOU MAY GO FROM YOUR SEAT AT THE TOP AS A POWERFUL EXECUTIVE TO AN ARMCHAIR IN YOUR LIVING ROOM”

Stay young at heart. Take up an old hobby or find a new one, learn welding or Spanish, play a new instrument. The point is to plan and embark on a new adventure every week, even if that’s tutoring a student in maths or trying a new restaurant. Find something that keeps your brain firing.

Be kind. Acts of kindness make everyone feel good. Volunteer, donate time or money, or contribute to your community in another way.

As you work to focus in on the activities that will help you live well on a day-to-day basis, make sure your vision is detailed in a well-documented financial plan. Being able to clearly articulate your vision helps to prioritise your needs, wants and wishes in order to figure out how to make them a reality.

NEXT STEPS

As you approach retirement:
  • Visualise how you’d like to spend your days in retirement without a schedule to dictate your day
  • Consider each psychological/emotional aspect of your life to ensure it’s being fulfilled by your retirement plans Need help? Speak to one of our wealth managers today to ensure the financial plan you have in place will make your vision a reality

Important Information Regarding Trusts

If you are a Trustee of a Trust, it may need to be registered with the Trust Registration Service by the 1st of September 2022.

For all Trusts required to register, the Trustees will need to provide information on the persons involved in the Trust (Settlor, Trustees and Beneficiaries) as well as details of the Trust itself.

It is advisable that you contact your accountant or your solicitor, or a Trust Registration Specialist to assist you with the registration process as failure to register your Trust with the TRS could lead to the Trustees of the Trust suffering a financial penalty.

If you have any further questions, please do not hesitate to contact our office on 01772 780300..

Raymond James Professional Development Forum

Raymond James Professional Development Forum

Branch Principal Wayne Hayhurst reflects on his workshop presentation ‘Real world ideas to help you grow your practice’ at this years’ Professional Development Forum.

The Forum welcomed delegates from Raymond James and Charles Stanley, who, alongside head office staff and sponsors, helped lead to a record 440 attendees over the two-day event.

Our values guide our path forward, steering our activities and interactions to continually invest in the future of our businesses, colleagues, and communities.

“The annual Raymond James Professional Development Forum provides a chance to reflect and consider the potential for our future; educating and connecting us so we can continue to provide the best service to clients.”

Tom O’Neill: New Birthday Cards

For many, a daily hike became an integral part of their routine during lockdown. For those in and around the Longridge area, they will immediately recognise the adjacent image of the highland cows. These placid animals quickly became ‘local celebrities’, attracting a great deal of visitors to their field atop green bank quarry each week.
This stunning picture was taken by local photographer Tom O’Neill and featured many times on the local community Facebook group, ‘Your Longridge’. Whilst giving our client birthday cards a facelift, we reached out to Tom via social media and asked if he would be willing to feature his striking images of the highland cows on the cover of our cards. Tom was delighted to help and as thank-you he asked us to make a donation to charity on his behalf.
“I would like to say a huge thank you to Raymond James, Ribble Valley for using my images for their birthday cards – it’s a supreme privilege and honour for me to have been asked”.

Keeping it in the family

Keeping It In The Family

Alastair Brown
Alastair Brown is the marketing & communication manager at Raymond James Ribble Valley
Give your family the best chance at preserving wealth from one generation to the next, advises Alastair Brown of Raymond James
As gloomy as it might sound, death and taxes are often described as the only two certainties in life, and inheritance tax (IHT) means they can turn up at the same time. *Almost £5.4 billion was paid in inheritance tax in 2018/19 – a record high. With people living longer and enjoying more active lives in retirement, the age at which the next generation will eventually benefit and how tax efficiently the wealth is transferred can be a real headache. Whether your motivation is to support your relatives, protect vulnerable family members or to leave a legacy, passing on your wealth is a highly emotive and potentially complicated topic.

Ensuring the tax man isn’t your largest beneficiary

What is Inheritance Tax (IHT)? Will you have an IHT liability? Can you reduce it? What can you give away in your lifetime? More and more people are likely to be impacted by Inheritance Tax. However, paying Inheritance Tax doesn’t have to be inevitable. In many cases this most unpopular of taxes can be minimised using allowances or exemptions, or potentially be avoided altogether with careful planning.

How, when and to whom should I transfer my wealth?

When is the best time to give money away? If you have children should they be treated equally? Who do you leave your money to if you have no immediate family?

Will your partner automatically inherit your wealth if you have no legal partnership? Deciding who should inherit and how best to transfer your wealth is rarely simple. Family dynamics are often highly complicated. You and your spouse or civil partner might have different views on how, or even if, any of your respective relatives should inherit your wealth. Whatever your goals, getting financial advice will help you pass on your money in a way, and at a time, that creates maximum benefit for the people that matter to you most.

Estate Planning

Getting all your affairs in order, from deciding who should inherit your wealth to making provisions for vulnerable family members, can be an extensive but invaluable process. Known as Estate Planning, it ensures you eliminate uncertainty over the administration of your assets and aims to maximise the value of your estate by reducing or eliminating taxes and other expenses. From setting up trusts to mitigating Inheritance Tax, Estate Planning should also consider your needs in later life, including the potential cost of long- term care.

Raymond James, 8 Berry Lane, Longridge, Preston, PR3 3JA 01772 780300

Risk Warning: Opinions constitute our judgement as of this date and are subject to change without warning. With investing, your capital is at risk

Could we help save you and your loved ones thousands?

Ready to have a conversation? Give us a call and we’ll help you understand whether IHT is likely to impact you, and whether you could take action to reduce it. If it looks like we can help you keep more money in the family, we’ll book your free, no obligation initial consultation with one of our in-house specialists.

Local Team Sponsorships

Longridge Local Team Sponsorships

Andrew Barr, Wealth Manager at the Ribble Valley branch, reflects on some of our most recent sponsorships and why investing in local sports teams is so important to us and our community:

“We’re always looking for ways to help our local community and the idea of sponsoring grass roots football is always appealing as it provides so many benefits to young people. From learning to work together to staying active, competitive sports teach children valuable lessons that they’ll carry with them throughout life.”

“A number of our employees are avid football and cricket fans, so we’ll be watching the teams with great interest to follow their progress”.

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