Mark Incledon, Chief Executive Officer quoted in City A.M., 14th September 2021
The value of premium luxury watches – those containing precious metals – imported into the UK increased 43% in the last decade, with £488m worth of imports last year, compared to just £276m in 2010.
An example of a luxury watch that has seen a steep price increase is the Patek Philippe Nautilus 5711 (with the blue dial) which can go for as much as £100,000 on the used market – with it being extremely difficult to buy new. When the model was originally listed in 2006, it retailed at just £18,000, meaning most who purchase it today are doing so at 560% of its original listed value.
Mark Incledon says “The value of luxury watches performed remarkably well during the global financial crisis – quickly recovering from only minor dips in value. Similarly, luxury watches have continued to appreciate in value throughout the last year despite the global economic downturn.”
Charles Incledon, Client Director’s research quoted in The i and Bloomberg, 3rd September 2021
FTSE 100 companies have added £30bn to their cash piles in the past year, up 17% to £183bn compared to £153bn the previous year, shows research from Bowmore Asset Management.
In the early stages of the pandemic, there was a great deal of uncertainty regarding the potential effects of Covid-19 on the economy at large as well as the underlying companies. As a result, many of the UK’s largest companies started to build up their cash reserves in order to strengthen their balance sheets.
However, says Bowmore, as the economy reopens and the outlook for companies becomes clearer, FTSE 100 firms should perhaps be looking to use this cash to compete with private equity for acquisitions. Given the lower valuation of UK stocks compared to their peers, private equity groups have been quick to make acquisitions of listed UK businesses – an opportunity few corporates have taken.
Charles Incledon, Client Director quoted in The Sunday Times, 30st August 2021
“The value of luxury watches performed remarkably well during the global financial crisis – quickly recovering from only minor dips in value. Similarly, luxury watches have continued to appreciate in value throughout the last year despite the global economic downturn.”
The continued scarcity of certain models, coupled with a rise in demand, has driven up the prices of particularly sought-after luxury watches. Luxury brands choose to keep production quantities low to ensure exclusivity of their products. Rolex’s produces 800,000 watches a year whilst Audemars Piguet produce just 40,000 watches annually.
Charles Incledon, Client Director quoted in The Sunday Times, 13th June 2021
The amount held in cash ISAs by UK savers has reached a record high £313.5bn – an increase of 16% in just a year despite historically low interest rates, shows an analysis of new data by Bowmore Asset Management.
The amount saved in Stocks & Shares ISAs over the same period has dropped 3% from £314bn to £305bn, since then global stock markets have record highs.
“It’s staggering that so much wealth is being lost to inflation, through savers’ attachment to cash ISAs.”
When I left university, I joined St. James’s Place Wealth Management as a paraplanner. I quickly came to realise that advising clients and helping them achieve their goals is an incredibly interesting, rewarding, and varied role. I became a financial planner at St. James’s Place and to ensure that I provide clients with the best outcomes I can going forward, I have now joined Bowmore Financial Planning. I feel that Bowmore aligns perfectly with my ethos of recognising that all clients are different and that we need to find the bespoke solution for them.
How do you measure success for clients that you work with?
For me success with clients is rather simple to judge. Are they in control of their decisions and are they able to be financially independent, in whatever way that means to them?
What is the most rewarding part of your job?
The most rewarding part of being a financial planner is seeing the work you have done come to fruition and the difference it has made. This can be when clients reach retirement, having hit their financial independence objectives or if something unexpected happens and our planning allows clients to get through that difficult moment.
What attracted you to Bowmore?
I was attracted to Bowmore due to the dedicated people that work here and their belief in providing holistic advice that is tailored to meet each individuals needs. Also, I feel that the link between Asset Management and Financial Planning at Bowmore is a point of difference in ensuring the quality of client outcomes.
Do you have any advice for someone starting out within the industry?
To anyone starting out, I would say that the number one thing is to remember that we have two ears and one mouth for a reason. The most important thing is to understand the client and what matters to them.
John Clamp, Chartered Financial Planner quoted in FT Adviser, 24th May 2021
Bowmore’s research shows that if an 18-year-old was to put just £1.71 into their pension each day (or £625 a year) until retirement age, they would have saved a total of £1m by age 68 – the current state retirement age for an 18-year-old.
John Clamp, Chartered Financial Planner at Bowmore says “there are three main things any investor needs to understand, but especially important for young people:
1. Setting the right disciplines (regular saving and making use of tax breaks/subsidies).
2. Understanding the impact of compound growth (exponential growth rates in the latter years)
3. How to make your money consistently work hard for you (i.e., 5-10% growth per annum).”
As the vaccine rollout across the world accelerates, signs that the global economic recovery is also gathering momentum has boosted confidence. With confidence and growth comes the probability of inflation, particularly when interest rates around the world are languishing at record lows. Central banks have pumped unprecedented levels of stimulus into the global economy, which also helps to increase the chances that inflation will rise. Mounting inflationary pressure causes the erosion of capital in real terms and should be a warning to all in investors in low yielding assets. This month we explore ways to combat such rising prices.
Mark Incledon, CEO and Jonathan Webster-Smith, Chief Investment Officer quoted in Wealth Adviser, 6th May 2021
Mark Incledon, CEO of Bowmore Wealth Group, says: “I’m delighted that Jonathan has decided to join the Bowmore group. He is a highly respected industry name having built one of the industry leading Multi-Asset offerings and has delivered excellent and consistent long term performance for his clients.
“His extensive industry knowledge and investment experience from his time at Brooks Macdonald makes Jonathan an excellent fit to become our new Chief Investment Officer. I have absolutely no doubt that our clients will benefit hugely from Jonathan’s addition to the already well established investment team.”
Webster-Smith says: “I’m thrilled to be joining the team at Bowmore. The warm open culture and boutique nature of the business, combined with the positivity of all those involved, made this opportunity immensely attractive.”
Bowmore Asset Management Ltd is authorised and regulated by the Financial Conduct Authority (626431)
Bowmore Financial Planning Ltd is authorised and regulated by the Financial Conduct Authority (115180)