Plenty Of Room For Mid-Tier Wealth Management

Published by WealthBriefing, 9th November 2020

By some estimates, about 90 per cent of the UK investment advisory market is controlled by around 10 businesses. It is within the remaining 10 per cent that some firms believe they can carve out a different type of service.

One of those is the Bowmore Wealth Group, a mid-size family-run UK firm that wants to develop a one-stop wealth planning and asset management business that can deliver the sweet spot between highly personal services and economies of scale.

While a new round of industry consolidation is at the mercy of a pandemic that is shifting more than disappearing, it hasn’t stopped issues of low interest rates, crunched fees, and varying degrees of digital adoption success from forming pontential new alliances behind the scenes.

Joint or sole account – the importance of talking it through with your other half

The global pandemic has presented unique challenges to us all, re-enforcing the need for couples to sit down and talk about their finances.

Many individuals often leave their financial arrangements, which can at times be hugely complicated, solely to their other half to organise. But should anything go wrong, this could leave one partner in a potentially vulnerable and troublesome position.

Four stocks that have lost half their value but fund managers are still buying

Published by The Telegraph, 30th October 2020

Thirty FTSE 350 firms have lost 50pc of their stock market value in the past year but professional investors are still buying them.

What do they know that we don’t, and should retail investors follow suit?

Bowmore Wealth Group, a wealth manager, compiled the “50pc club” list and then Telegraph Money spoke to professional stock pickers and asked them which companies they are backing to bounce back.

How could COVID-19 affect our taxes?

Speculation on tax changes dominates the news at present. Our clients are wondering how tax changes could affect them and what they might need to do to prepare. Nothing is certain at this stage but here are some of the areas where we might see change, other areas where change is much less likely.

There has been talk of taxing residential house price growth, but we expect this would be a very unpopular move. This is because inheritance tax already targets residential house price growth as, for most people, their house is their largest asset.

Warren Buffett would never make this mistake. To get rich and retire early, neither should you

Published by The Motley Fool, 10th October 2020

If you want to get rich and retire early by investing in UK shares, you have to think long term. You should be investing across your working life, 40 years or more, so don’t waste your time racing around trying to bag short-term profits. You have to play the long game.

Too many investors take a short-term approach instead, and worryingly, their numbers are growing. New research shows that 30% of the shares UK investors sold last year were held for less than two years. That is up from 18% the year before, according to figures from Bowmore Wealth Group. That’s no way to get rich and retire early.

At The Motley Fool, we encourage investors to invest for the long term. We are in good company too. The world’s greatest investor, US billionaire Warren Buffett, famously said: “Our favourite holding period is forever.” You may not always manage that, but it still makes a lot more sense than holding for a year or two.

Bowmore’s Team: Jill Ellicott, Chartered Financial Planner

Tell us about how you became a financial planner and why

It wasn’t planned as such, growing up, after my parents divorced, there never seemed to be much money around.

I grew up ‘up north’ in Bury and we were evicted from our house in the early 1980’s.  My Dad was a builder at the time and following some time in Germany doing the whole ‘Auf Wiedersehen Pet’ thing, there wasn’t much work around in the North of England at that time.

So I had an interest in money from an early age….I knew I didn’t want to ‘end up’ like my parents, struggling to make ends meet.

When an opportunity arose to become a Mortgage Broker I took it and then went on to work for a couple of Building Societies.

A previous employer was very supportive and put me through a lot of my early Financial Planning qualifications. I then worked for a number of Independent Financial Advisers gaining experience as I progressed through the higher qualifications.

I was part of the first cohort to qualify as a Chartered Financial Planner.

Have a Cash ISA? Here’s why that may not be the best idea…

Published by Glamour Magazine, 24th September 2020

Have you got a cash ISA? Chances are, you do, as the latest HMRC data shows women represented half of all Cash ISA holders last year, at 55% (3.59m) of the total (6.47m). In fact, for each of the last five years, women have always represented more than half of all Cash ISA holders. Women aged 25 to 34 are the most likely to hold Cash ISAs of all age groups, at 23% (811,000).

The thing is, cash ISAs may not, after all, be the best investments for our money. Bowmore Financial Planning (part of Bowmore Wealth Group) says cash has historically underperformed over the medium and long term and this could continue. Interest rates in the UK will also likely remain at their record lows for years due to the economic recession we find ourselves in.

Bowmore eyes smaller firms as it readies £10m acquisition war chest

Published by Professional Adviser, 7th September 2020

The firm, which has 25 staff and holds more than £350m of assets under advice (AUA), said its aim is to target advisers with up to £100m AUA, and fund managers with up to £200m funds under management.

According to Bowmore, there are a large number of financial advisers and fund managers that are facing rising costs and shrinking margins that could benefit from working with a larger business.