FLEET STREET FINANCIAL
TEERTS TEELF LAICNANIF
A fresh approach to planning for the future
planning • attention to detail • care
Welcome
“…not just to meet client’s expectations but to consistently exceed them…”
We recognise that placing your family’s financial future in the hands of another requires a great deal of trust. This trust takes time to earn therefore woven into the fabric of our proposition and the beliefs of staff we employ, is the need for transparency and adherence to the highest ethical standards from within the profession. We strive not just to meet client’s expectations but consistently exceed them. In so doing we naturally retain clients. Whilst we look after people from many different professions our particular focus has been within the legal sector. We have operated within this field for the past 12 years and are one of the largest providers of financial advice to the Bar. Our proposition is simple. We provide quality, independent, tailored, strategic financial advice supported by market leading service to individuals, firms and trusts. We draw additional investment expertise from our investment partners: Cazenove Capital Management, Brooks MacDonald Asset Management and Quilter Cheviot. Charles Cameron and Associates act as our mortgage partner. The following pages provide an insight into our company and the way we work. I hope that you find it interesting and look forward to hearing from you soon. Julian C E Morgan Managing Director
Why our clients chose us
We encourage regular feedback from clients in an effort to continuously improve and repeatedly hear the same three reasons for their ongoing support.
Trust
Levels of service
Flexible investment management
The quickest way to build trust is to be transparent in our dealings.
Serviced clients are appointed an adviser and a technical assistant. Together they take responsibility for all advice, policy servicing and administration. They can also liaise with third parties such as accountants and solicitors on your behalf thereby freeing up more of your time.
The Fleet Street Financial Investment Committee conduct regular reviews of the investment markets in order to source the most attractive opportunities.
We offer a range of service levels to fit different client situations and have a transparent fee structure for each. Our recommendations are provided in advance and in writing thereby allowing you time to reflect upon our advice before agreeing to transact business. Funds managed by ourselves or our investment partners on your behalf are viewable online and benchmarked to relevant indices at review meetings. You can draw additional comfort from the fact that we have chosen to be directly regulated by the Financial Conduct Authority and employ an external auditing firm thereby inviting the closest possible scrutiny. The close relationships that result from this no nonsense approach to business ensures that we retain clients and have built our business, in majority, by referrals.
Of particular note is our review process. Whilst we are proactive throughout the year, at regular pre-arranged intervals serviced clients receive a full audit of their affairs. This includes performance data, a review of their risk profiles, financial health-checks, cash-flow analysis, market commentaries, opportunities for consideration and an assessment of any potential legislative or other external threats.
Whilst we are passionate about our independent stance and have access to the entire investment market, we have partnered with three investment managers with which we have negotiated discounts. They have been selected on the basis of consistency of financial strength, historic track record, internal controls, research capabilities and servicing. If, for any reason, you wish to change investment partner or we feel they are no longer suitable, we will arrange for the transfer of funds to the new investment house at our cost. Our in-house investment portfolios are held on institutional platforms thereby keeping costs low.
planning • attention to detail • care
planning • attention to detail • care
How can we help?
We pride ourselves on the originality and breadth in the way we deal with clients; employing a wide range of financial strategies.
Experience has naturally encouraged a structure to the way that we work and this ensures that our analysis and research is thorough. Our advisers are highly skilled and authorised to give advice on the following:
Retirement planning and pensions Successive Finance Acts continue to change the pension landscape and this necessitates the need to regularly review your situation. Our advisers are well versed in sophisticated tax planning, utilising valuable tax allowances, tax efficient vehicles, property and offshore tax breaks. Our lifetime cash-flow analysis helps project future income streams from all sources in retirement to ensure you know both your current situation, what is required to meet your retirement goals and the best way to address such shortfalls.
Wealth management
Protecting capital and families
The majority of client funds are managed by our investment partners: Cazenove Capital Management, Brooks MacDonald Asset Management and Quilter Cheviot. Access to these companies allows a broader reach of investment, a more interactive approach to investing and direct communication with the fund managers. For larger portfolios this includes access to private equity and bespoke investment deals.
Insurance provides the foundation to most people’s financial strategy and helps ensure significant events such as death, long term illness or disability and critical illnesses have less financial impact. Provision of suitable cover both in terms of value and term need not be expensive. Our advisers can help talk through your options, calculate the impact of such events and also discuss the best and cheapest ways of covering the same.
Institutional investment platforms, which house our smaller funds, are regularly reviewed and that allows us to keep the management cost of pension, NISA and other investment funds to a minimum.
Mortgages
Estate planning The effects of Inheritance Tax can typically be mitigated by careful planning. The use of trusts to place assets outside the estate is both a simple and cost-effective remedy. Other solutions include the use of both annual and one-off allowances, investment into certain investment markets and protecting the liabilities with life cover.
We have partnered with Charles Cameron and Associates, a firm of mortgage brokers based in Blackfriars. We help manage this relationship by liaising with them on your behalf thereby saving you time. We receive a fee for introductions to Charles Cameron and this is rebated in full to serviced clients who have appointed us as advisers.
Our approach to investment management
The Fleet Street Financial Investment Committee is the keystone of our investment philosophy.
The overriding objective of the regular Investment Committee meetings is to review the investments we manage and to monitor the discretionary fund managers we have partnered with to make sure that they remain suitable. These reviews include ensuring funds are being actively managed, performance is tested to independent benchmarks, costs are controlled and risk mandates are adhered to. We have partnered with three market leading discretionary fund management houses; Cazenove Capital Management, Brooks MacDonald Asset Management and Quilter Cheviot. Each investment house differs in its management of monies.
Cazenove Capital Management
Quilter Cheviot
Cazenove Capital Management who were recently acquired by Schroders PLC can trace their origins back to 1823. Cazenove Capital Management’s total assets under management were £25bn as at March 2014. Cazenove Capital’s particular strength lies in the areas of structured products and hedge funds that are used to good effect in limiting the downside risk of portfolios.
With heritage dating back to 1771 Quilter Cheviot now have assets under management of £15.8bn as at March 2014. Quilter Cheviot provides further breadth to our investment proposition by offering management of portfolios predominantly invested in individual stocks.
Brooks MacDonald Asset Management Brooks Macdonald Asset Management Ltd was established in 1991 and is the specialist investment subsidiary of Brooks Macdonald Group PLC. As at March 2014 funds under management totalled £6bn. Brooks MacDonald have a multi disciplinary approach to investment management and have specialist researchers across all asset classes.
Funds not managed by our investment partners are held on institutional platforms using a portfolio of funds approach. Our Investment Committee employ the services of two of the largest independent ratings agencies; Morningstar OBSR and Citywire who help us identify the leading fund managers. We can also arrange investment management services to clients requiring management of funds on a ‘restricted list’ basis due to potential issues arising from conflict of interest.
planning • attention to detail • care
planning • attention to detail • care
Becoming a client
The first step upon appointment is to gather as much information on your current situation as possible and begin to scope out your goals and aspirations.
Next we conduct a thorough analysis of the risk you are prepared to take, can take and should take. This process forms the bedrock to future investment planning and determines the mix of assets that we subsequently recommend within your portfolio, the underlying funds and the growth rate we assume for projections as part of our lifetime analysis. During the initial few weeks, under an authority from you, we will write to all of your current providers and request full details of your plans.
Sophisticated cash-flow analysis helps shape future strategy by projecting income flows from all assets into retirement. It also allows us the chance to conduct ‘what if’ scenarios showing the impact of additional investments or a change of circumstance such as retiring early.
We may decide it appropriate to refer you to one of our investment partners in which case we would suggest they attend the recommendations meeting. This gives them the chance to run through the discretionary fund management offering and detail how they propose to invest funds.
Once all of the research is in place we will analyse this in the context of your current situation and your risk profile to develop recommendations on how best to meet your goals.
Once our recommendations have been implemented, we would be looking to meet again to ensure you are fully ‘au fait’ with what you have and what to expect. Regular meetings for serviced clients thereafter ensure you keep on track and are totally aware of how things are going.
We will deliver these recommendations at a meeting and leave you with written advice thereby allowing you a period of reflection before meeting again to answer any questions.
Our ongoing relationship
Our client service proposition is geared to developing and retaining long-term relationships.
We will invest considerable amounts of time getting to know you at outset and thereafter ensuring that we keep abreast of developments in your life. Whilst we will arrange online access to valuations, for those utilising the expertise of our investment partners, we offer face to face meetings with the managers who actually control your money allowing you the chance to discuss their investment decisions and obtain a far deeper understanding of the way in which your money is managed.
We have service propositions to suit all situations and serviced clients benefit from a review of their affairs at least annually. This meeting follows a thorough agenda and ensures that we account to you fully on all aspects of your finances. It is for all intents and purposes an audit of your position, the action points of which are then sent to you post meeting and followed through to completion by your adviser.
Your adviser will work with other third parties and help to put together your annual tax return by providing data to your accountant on your behalf. Equally we will work with solicitors acting for estates and banks or mortgage companies organising finance. Our commitment is to free you of as much administration as possible. Whatever your ongoing requirements, your adviser will do their best to satisfy them and will agree with you at outset what you can expect and when.
planning • attention to detail • care
planning • attention to detail • care
The next step
If you are interested in becoming a client of Fleet Street Financial we suggest a meeting to discuss your objectives, goals and aspirations. This gives us a chance to explain further the way that we work and introduce our fee structure. Our initial meeting is free and without obligation.
Alternatively you may wish to contact us: via email at info@fsfltd.com by phone on 0207 353 6373 or by post at Temple Chambers, 3-7 Temple Avenue, London, EC4Y 0HP We hope that this brief introduction to Fleet Street Financial has whetted your appetite and look forward to hearing from you soon.
Fleet Street Financial Limited, Temple Chambers, 3-7 Temple Avenue, London EC4Y 0HP Fleet Street Financial Limited is authorised and regulated by the Financial Conduct Authority Registered in England. Reg No 7731440