SRB Wealth Management Ltd Newlsetter Spring 2020

srbwm.co.uk

CLIENT NEWSLETTER SPRING 2020

Making a positive and lasting difference with the St. James’s Place Charitable Foundation

Keeping in touch In addition to supporting our clients with financial advice and expert planning, we are extremely proud to be associated with the St. James’s Place Charitable Foundation.

The Foundation has been supporting those in need since 1992, making a positive and lasting difference to people’s lives by awarding grants to charities registered in the UK to assist them in the incredible work they do every day. The Foundation has raised and distributed over £93 million to thousands of charities. We’re even more proud that two of our advisers have had the honour of presenting grant cheques to two local charities so far this year.

In January, Emily had the pleasure of presenting local charity St Mary’s for All with a cheque from the St. James’s Place Charitable Foundation. Encouraged by Emily to apply, Eileen’s application was initially awarded £1,511, then upgraded it to an incredible £2,500. Apart from creating a few tears of joy, it was a much-welcomed injection of funds for this wonderful charity, who aim to provide a safe venue space for all in Hamilton.

Our second presentation of the year was made by Chris, and was another cheque for £2,500. This time to Glasgow based charity Values into Action Scotland. VIA Scotland do amazing work in supporting people with learning disabilities and/or autism to ensure they’re given the same opportunities as everyone else. This particular funding will go towards launching a much requested Young Scotland’s Got Talent’ (YSGT) event for the Aberdeen area. The event brings together employers and all the relevant agencies that support individuals with learning disabilities and/or autism, giving advice on employment, offering fun workshops and inspiring people with stories of overcoming barriers to finding sustainable, enjoyable careers.

We hope to be able to present further grant cheques on behalf of the Foundation in the coming year.

If you’d like to find out more about applying for a grant for your charity, get in touch with the team. We’d be delighted to help you get the ball rolling.

I’m sure you’ll agree, it’s been quite the start to 2020. After what seemed like an eternal winter for most of us, we find ourselves in quite uncharted territory with a global focus on the safety and well being ourselves and our loved ones.

I wanted to continue our communications with you, our valued clients, to let you know that despite the obvious disruption, we remain committed to supporting you and your family during this turbulent time. We do have much to share that is good news and, hopefully, a welcome distraction from all that’s going on presently.

We invite you to get in touch, whether to discuss any of the areas raised or other concerns you might have during this time. As ever, we’re here to help.

Our privacy notice is available on our website which informs you how to opt out if you do not wish to receive any further marketing communications from us.

Protecting the people that matter No one can predict the future, but most can prepare for it.

It can be easy to forget how fragile life and health is. We all seem to understand the importance of insuring material items such as vehicles, your home and valuables, but what our most valuable possessions– the people that matter to you?

Are you confident that you have adequate financial protection in the unfortunate event that the main, or only breadwinner were to die or fall seriously ill?

We may have a longer life expectancy, but we shouldn’t become complacent. Life is full of uncertainties. Accidents, illness and even death can happen to anyone, at any point.

While it can be unnerving, the importance of protection is best highlighted by considering the consequences of not having any cover in place.

• Do you have a cash buffer or alternative source of income to sustain daily expenses? How long can this be sustained?

• Will your partner or spouse be able to continue to pay joint debt such as a mortgage or loan if your contribution stops?

• Would your children be well taken care of into adulthood if you are no longer around?

• Is your business protected to ensure continuity should any partners or key people suddenly depart from the business due to ill health or death?

These questions need to be addressed sooner rather than later.

Protecting your assets and the people who matter most to you lies at the heart of what we do at SRB Wealth Management, and the time to review your protection arrangements is always now.

As each birthday passes, typically most protection premiums become more expensive. Purchasing protection after your health deteriorates is likely to become more difficult, costly and in the worst-case scenarios impossible. Your current plan may not reflect your circumstances as life priorities and events change that.

Each protection plan offered through SRB is tailored to suit our individual clients. We believe it’s important to arrange you the cover that reflects your circumstances, your requirements, your family circumstances and your business needs.

Watch the tides, not the waves The team at SRB see our clients as an extension of our own team and we’re concerned for everyone’s health and wellbeing above all else.

We hope you remain safe and healthy throughout this unprecedented time and that you rest assured in the knowledge that we also have your financial future at the forefront of our minds, too.

It’s worth bearing in mind, throughout this time, that stock markets, by their very nature are volatile and will always have ‘ups and downs’ in the short term. And sometimes the falls can be significant.

However, history also shows us that stock markets tend to rise over the long term, despite short-term fluctuations.

Lost pension pots Don’t know where to start? Read on…

If you’ve worked for more than one company then it’s likely that you’ve paid into different workplace pensions.

It’s estimated that there is nearly £20 billion of savings held in 1.6 million lost or dormant pension pots in the UK – that’s nearly £13,000 per pot*. *

The Pensions Policy Institute, October 2018

Pension Tracing Service Claire Trott (Head of Pensions Strategy at St. James’s Place) gives her advice for tracking down your lost pension pots and what to do once you find them.

If you search online, Claire explains, there are several companies offering services – usually set up to transfer your business to them.

Instead, use the gov.uk Pension Tracing Service at www.gov.uk/find-pension-contactdetails. Call 0800 731 0193 or contact them by post. You will need the names of companies who have employed you. This will work even if the company no longer exists.

This service will only give you the contact details of who’s running the company pension scheme, you can then contact them for more information.

Consolidate your pensions?

So, once you’ve found your pensions, what do you do next? With any pension, you can’t usually access the holdings until you’re 55. For small pension pots, Claire notes, you might just want to encash them once you reach this age.

You could decide to consolidate your pensions.

This can lower charges and avoid dealing with several providers. Transferring out of recent schemes is relatively straightforward, as they are more flexible. Switching can be difficult from older schemes, as some may still impose punitive exit penalties. Also, some schemes may offer valuable benefits that you couldn’t match today, such as guaranteed annuity rates.

An evening with Mark Beaumont In February, we worked with our friends at Glasgow Green Cycle Club to deliver a brand-new type of event where we brought athlete, broadcaster and ambassador Mark Beaumont to Drygate Brewing Co. in Glasgow.

A truly inspirational character, Mark is a record-breaking round-the-world cyclist and ultra-endurance adventurer. His documentaries, events and books have taken audiences to over 100 countries. In February, he spoke exclusively with SRB and Glasgow Green Cycle Club’s specially invited audience for an evening of inspiration and stories of personal endurance.

Rowan Dartington Technical Investment Director, Guy Stephens also shared with the audience his learned thoughts on the investment market including the market influences of Brexit, the effects of world events on markets and the forthcoming US election.

Personal advice What you should do with your schemes relies on the nature of these pensions and your personal circumstances. This is where a professional adviser is invaluable. Many of us will also want to know what our pensions are invested in and whether this reflects our values.

The value of an investment with St. James’s Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

The evening was rounded off by an informal meet and greet with Mark, Guy and the SRB team where Mark kindly took time to sign copies of his latest book and mingle with his like-minded audience, talking all things two-wheels.

We had wonderful feedback on the event, and we look forward to delivering more events like this in the coming year. If you have an idea, or any thoughts on an event you might like us to consider, get in touch and let us know.

The people behind the practice

Committed to delivering quality The team at SRB Wealth Management continuously develop their skills and abilities to ensure we, as a team, deliver a level of service to our clients that is second to none.

In recent months, we’ve seen that ongoing commitment come to fruition with several accolades and accreditations achieved across departments already this year.

Gordon Keane – Paraplanning - RO1, RO2 and RO5 + Platinum level accreditation Mark Brough – Paraplanning – Diploma + Gold level accreditation Jen McKay – Financial Adviser – RO3 We’re extremely proud of our team and their dedication and wish them every success as they strive to achieve their goals in the coming years.

Our team are here for you, when you need us.

As our practice grows to meet and exceed the needs of our clients, we’ve been carefully building a team that brings together the appropriate skills and, equally importantly, the right mindset to put our clients first, always.

It’s important to us that we offer a considerate and personalised service that has our clients at its core and delivers what you need.

With that in mind, we thought you might like to get to know the people behind the practice.

Each edition of our newsletter will feature a member or two of our growing team. That way you’ll get to know who you’re dealing with, whether it be on the phone, by post or in person.

Allow us to introduce the newest members of the Client Services Team – Louise and Rachel.

Louise Kane Joining us from 20 years in banking customer care, Louise has qualifications in Customer Service, making her the perfect addition to the team that looks after our client’s needs.

Louise used to teach dance and enjoys walking, listening to music, watching football and is partial to a bit of karaoke.

Rachel Liddle Like Louise, Rachel brings with her specialist experience in customer services from the banking industry. Rachel also has CF1 and CF6 certificates in mortgage advice, adding an extra level of expertise to our team. An avid gym goer, and huge fan of Disneyland, Rachel is currently planning her wedding.

Louise, Rachel and our Client Services Team Leader, Emma, are here to deliver a client services experience that is second to none. Working with SRB is about more than just financial advice.

Stay in the know, on the go

Get the latest updates and news direct to your inbox with your personalised E-briefing service. You can stay informed of the latest market news and fund manager views, get tax, pension and estate planning insights and more.

Simply visit the website and click on the E-briefing service tab, sign up and select your preferences and you’re good to go!

Looking ahead to the next few months, our priority as ever, is looking after you and your future.

We understand you might have questions or concerns over the coming weeks, and we’re available when you need. Whether that be to discuss the current situation or any of the topics covered in this newsletter. Get in touch with the team by email or via the website… We’re here to help.

Suite G10, Duart House Finch Way, Strathclyde Business Park Bellshill ML4 3PR Tel: 01698 536064 Email: srbwealth@sjpp.co.uk

SRB Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management Plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the Group’s wealth management products and services, more details of which are set out on the Group’s website at www.sjp.co.uk/products.

The `St. James’s Place Partnership’ and the titles `Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.