Special Event Opportunity

Dear Friend

This is a short eshot! We wanted to inform you of a special event opportunity starting on Wednesday week. Clients and their friends will be especially welcome to come and share if they would like to join us.

So what is happening to the world? Our own Pandemic restrictions are easing (despite a few negative spots), a whole bout of mid-term elections is now behind us with surprisingly good results to endorse the Government’s position and Sterling hits the highest point against the Dollar, almost since before the Brexit Referendum.

Our clients’ year-end investment reports will be hitting their doormats and the phenomenal and unbelievable gains achieved since the market lows in March 2020 will be evident in them. It is pleasing to report that our dramatic out-performance has continued since then too. However, it is going to be far harder going forwards. We still have plenty of excellent opportunities to acquire but not as many as there were. The US has reported an annualised increase in CPI (‘inflation’) of 4.1% and that bodes badly for prices generally (see the last eshot) and a rise could impact the residential housing market here in the UK as well, as mortgage costs start to nudge-up (after record new advances). That is long overdue anyway. We also have serious concerns in Gaza and Israel and are all wondering where the latest conflicts will lead. We can but hope and pray for resolution to that perennial problem.

Coffee And Company

Have you been missing meeting with others? Have you been feeling lonely? Are you apprehensive about starting-up a social life again?

We have all had many things to contend with over the past year or so. Lockdown has left many of us of all ages feeling isolated and alone and now that some semblance of normality is returning, we may feel worried about going out and mixing with other people. Hopefully we have a solution! Philip J Milton and Company Plc Charitable Foundation wants to help.

At Trimstone Manor Country House Hotel, Trimstone, near Ilfracombe, we are going to host weekly “Coffee and Company” mornings each Wednesday for anyone who’d like to meet up with some others and to dip their toe into the start of a social life again.

Our first “Coffee and Company” gathering is Wednesday 26 May from 10.30-12. We would like to invite anyone who feels in need of some company and who would like to meet with others for a chat and a coffee (and probably cake!). Just drop by! You’ll be welcome!

Please be assured we’ll follow the rules to keep everyone safe. If it’s nice we’ll meet outside too!
To join us please let us know on 01271 862841 or email info@trimstone.co.uk so we have an idea of numbers but don’t worry if you haven’t told us in advance – just turn up!

These are all free events, sponsored by us, with our pleasure.

We hope to see you there and achieving our simple aim of reaching out, bringing in and joining up!

Helen L Milton – Trustee and Director

Reassure – Inappropriately named

Clever marketing departments need to make sure that the names they choose for their companies are delivered in practice. So, a staff member chose to transfer her £25,000 ‘Reassure’ pension to her Company scheme with ourselves. The paperwork was all appropriately sent-off last October. As we do for all clients, we chase progress to ensure the transfers are progressing – especially as money and markets are involved. After initial delays with forms etc, on 28 January we were ‘reassured’ that they confirmed payment would be issued that day. It is now the middle of May and guess what – still no payment. What is wrong with these companies? A formal complaint noting the loss of investment return is already lodged – it is just not good enough.

Willis Towers Watson

I am going to name and shame yet another ‘big company’. We have a couple of pension transfer cases for clients, with time limits on transfer values upon which the clients have based their decisions to transfer and yet the months go by and still they have not acted.

They are chased… and chased… but still no action and meantime the investment markets are doing what they do. Only a few years ago these companies would have sent the money to any old scheme buying hotel rooms in Cape Verde Islands or ethical forestry and carbon credits on the Moon but today, they won’t send the money to an HMRC approved and FCA regulated Pension Trustee Company without quadruple and unnecessary checks it seems. It is wholly unacceptable and negligent on the part of these entities. 

We have another case with Mercer where the multimillion-pound scheme has written to the client twice now saying that the funds will be delayed as the scheme has needed to sell investments to raise the money… settlement is two days on the stock market these days so what on earth is going on? Isn’t it about time these entities were properly regulated?

The Missing Link

You may remember I noted this Group’s error with a formal Open Offer document – maths only wrong by 100 times.

I really wonder what is happening there… I have now received a cheque for £915.06 for the final payment of a closing company except that is, that the paper and cheque upon which it is printed notes US$915.06 so ‘words and figures differ’. I mentioned the Company is in hot water at the moment over the Neil Woodford issues. How on earth are these things happening! (What audit protocols…). And did you know, registrars and as custodians of shares of companies are not even regulated by the FCA – unbelievable!

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 celebrate our 35th anniversary in 2020 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