Dear Friend
BREXIT UPDATE – ANYTHING NEW AFFECTING YOUR MONEY & INVESTMENTS?
There has been a New Year rally and long overdue. This is global really but the UK was hit harder so there have been some disproportionate improvements too. I am not going to add to the political shenanigans here but needless to say it is confused and messy. All, again, I’d repeat is to remind you that the world is not going to stop on 29 March so with that in mind, invest with great value in hand and regardless of the outcomes.
Recognise too that all is not rosy in the EU itself from an economic perspective so it is not the silver bullet that is being portrayed. Indeed, simply because of our hiatus for so long, we could have a rare economic surge ‘after’ the event simply because so many people and institutions have been postponing ‘decisions’ till they ‘know’.
JOB OPENING
Well there is a job based at Trimstone about to become available! It is to work for me in the role as Senior Administration Assistant to the Managing Director at Philip J Milton & Company Plc. More details can be available but you will have to be efficient, dynamic and capable and able to work on your own initiative for much of the time and with a vast array of different tasks which will be added over time. The opportunity for the right person is excellent. Some knowledge of the hospitality trade is likely to be helpful too! Please send a CV and salary expectation by email!
This and other Career Opportunities with us can be found here.
OUR WEBSITE
Have a look at our new website. What do you think? We are tweaking such things constantly of course but trying to make it more interactive and easier for us to add current material. We like it and we believe it represents what we want it to say and do, as well as being useful for clients and new contacts likewise.
IN THE NEWS AGAIN
We are often quoted in the Financial Times’ sister publication and this time it is on investment management. Here you are if you wish to read:- https://www.ftadviser.com/investments/2019/01/15/half-of-advice-firms-offer-investment-management/.
FUNDSMITH
Mr Terry Smith has done remarkably well and from a standing start. He has supported the tech bubble and has done very well for investors out of it and for himself too with a chunky recent payment going off to his Mauritian tax haven. I don’t begrudge him his success – not at all but we don’t have any of his funds and flag that it is probably time to exit if you are fortunate enough to have been with him. Not only are there plenty of alternatives (and many which don’t charge as much either) but trends, like this, ebb and flow and he has had an excessive period of ‘success’ and at some point it will all come to a horrible end – as it always does. This is the curse of the cult of success – have a look at Mr Neil Woodford or Mr Bill Gross for example and no, I am not saying that to gloat but just to say ‘watch-out’ and buy tomorrow’s star, not yesterday’s.
Last week Mr Smith was very angry that Hargreaves Lansdown removed his funds from its ‘best funds’ list. Now, the cynic could say that it is odd that those which don’t pay backhanders to the platforms promoting them (or big enough backhanders) don’t see a mention on the best recommendations to the clients – why is that…? It is the same reason that St James’s Place and others don’t have links to funds which don’t pay them money either yet they still pretend they cover a wealth of ‘best’ options. Oddly enough, we don’t receive any ‘back-handers’ from any sources in that what we select for clients is what is best for them and from the whole universe of options without bias.
We also prefer Investment Trusts to open-ended funds as we have said many times and for myriad reasons but often ‘cost’ is one of them. For us, simply selecting what is best for the client is the objective – nothing more, nothing less. Additionally, sometimes we are approached with something special as we were last week – one of our Trusts we have been following and supporting for many years had an encashment opportunity from another investor and we were able to take it from them on very special terms and allocate that to our raft of new clients just added – and at a very useful discount to normal market prices but also benefiting their seller. We are on the look-out constantly for such opportunities to add value to clients’ accounts.
RISK WARNING
Stock market investments can offer income through the payment of dividends and interest and good opportunities for capital appreciation over the longer term. By this, generally we mean periods in excess of five years, preferably much longer. However, we can never promise you particular returns, especially in the short-term. At any point in time but especially in the short term, your capital could be worth less than the original amount invested as some of the selected holdings may fall in value, regardless of expectations at the time of acquisition. We may also invest in funds that hold overseas securities. The value of these investments may increase or decrease as a result of changes in currency exchange rates. Returns achieved in the past cannot be relied upon to be repeated.
To remind you, why do I send out occasional emails? Because everyone can save money. We have no connection with any companies mentioned and you have to make your own contacts and satisfy your own enquiries. What is in it for us? If we can prove that we are knowledgeable and that our service and advice have good value, then you might contact us for professional financial planning and investment help. You don’t have to do that though and there’s no charge for emails. If simply they save you money, then accept them with our compliments! However, you’ll know where we are!
If you have any queries of any form or indeed any subjects you think I could include, please contact me. I also refer you to our website www.miltonpj.net. We celebrated our thirtieth anniversary in 2015 and have been publishing a well-respected independent column in the local Paper for most of that time and free client newsletters as well.
Do not forget however the usual caveats – this is not ‘advice’ and you are encouraged to seek that before embarking upon any financial route involving investments, etc.
My best wishes
Philip J Milton DipFS CFPCM Chartered MCSI FPFS FCIB
Chartered Wealth Manager
Fellow Of The Personal Finance Society, Fellow Of The Chartered Institute Of Bankers
