Its National Ethical Investment Week

The now annual PR campaign about ethical investing has begun in earnest. You may be aware that at Solomon’s we provide access to ethical investments, which many of our clients prefer. We operate two ethically screened portfolios – our Purity range and our Good Life range. The Purity portfolios only hold ethically screened funds, these are largely UK based funds with a fair amount of global specialist funds. Investment exposure to the US, Japan, Emerging Markets, the Far East and so on are very difficult to obtain within an ethical or SRI (socially responsible) fund. As a result, we offer the Good Life range, which enables better global asset allocation to be implemented, although will include “non ethical” holdings within tracker funds. If you would like to know more about this do get in touch.

I shall be attending an event on Wednesday at the House of Commons where Hugh Bayley MP is holding a UKSIF reception for those involved in helping to promote the ethical investment case. Nick Hurd MP (Minister for Civil Society) is the guest speaker, so if you have any questions that you’d like me to ask let me have them.

I suspect that the NEIW 2011 will get rather drowned out of media coverage this year due to the current protest and squat in London and various other cities around the world.

DT

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

Its National Ethical Investment WeekDominic2023-12-01T12:48:58+00:00

A Case of Mistaken Identity?

I’m aware that the my chosen company name is not unique. Several years ago I learned that there was another firm with a very similar name – called Solomon Independent Financial Advisers Ltd, based in Hong Kong. The principal (Connie Leung) and I shared a quick email greeting one another and noted that the similarity in company names may cause confusion at some point, so to be aware of this fact. I don’t have a double, much to the relief of all!

Over the weekend I read that the firm in Hong Kong had been fined $1.5m by the regulator in Hong Kong and that the principal has had her license suspended for 7 months. Just for the record, our firms are not connected in any way – the fine and temporary suspension relate to the firm in Hong Kong. This has nothing to do with me here in the UK, but I can see how this might give rise to a case of mistaken identity, particularly as there are members of staff at the Hong Kong firm that have links to both the UK and the USA.

Whilst we are on the subject – there’s also a firm in Jackson, USA who are also unconnected to either myself or the firm in Hong Kong. I hope that this allays any fears – should you have come across the other company and confused it for Solomon’s IFA here in the UK.

DT

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

A Case of Mistaken Identity?Dominic2023-12-01T12:48:58+00:00

Friends, Money and Predators

Today’s news that Dr Liam Fox has resigned as Secretary of Defence is possibly not a huge surprise, as they say – a week is a very long time in politics. I’m sure the truth will eventually be revealed and for the time being there is media speculation surrounding the business conduct of Dr Fox and his best man Mr Werritty. I’m not privy to the inside track on this and as far as I understand, most is merely circumstantial supposition at present. The incident raises some interesting questions. How do we work with friends? do we take advantage of them? is this to their detriment? and would a professional relationship have provided a clearer position for all parties?

In the week that a British couple won an astonishing £101m on the lottery and promised to make their friends millionaires, one has to ask if there is a price to friendship. I imagine that the lottery winners may find that their relationships actually worsen rather than improve with the arrival of significant amounts of money. Rapid wealth is difficult to handle wisely, but in truth, most people struggle to some extent in their relationship with money. This is where an impartial financial planner can provide significant advantage, helping to to draw out what is truly of value to you as a person and ensuring that financial planning is built upon your values not your value.

I was also reminded this week of another relationship. The BBC programme “Planet Dinosaur” reminded us of the relationship between large prey and large, rather vicious predators with one living off the other. It also reminded me of the Simon Pegg film “How to Lose Friends and Alienate People” which is based on Toby Young’s life story (well part of it) and seems to sum up the week.

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

Friends, Money and PredatorsDominic2023-12-01T12:48:59+00:00

Obama Thwarted Again – US Require Economic Viagra Equivalent

Solomons-financial-advisor-wimbledon-blogger

Obama Thwarted Again – US Require Economic Viagra Equivalent?

Republican senators have produced yet another blow to the US President by preventing his $447bn job creation bill (The American Jobs Act) a significant set back. The bill brought before the American political system in September won the smallest majority a vote of 50-49 where a vote in favour required 60.

Sadly this is bad news for us all. The American system is obsessed with short-term political career manipulation, frankly its a wonder that there isn’t a new American revolution as their politicians are struggling to make important decisions about their collective future. Creating jobs and decreasing national debt is not a theoretical game that politicians should be point scoring, but a vital requirement to re-establish the basic requirements of a growing economy and flourishing society. Whilst some US politicians carp at the stagnation amongst the European Union partners, there is a significant degree of pot calling the kettle black.

It is now high time that either politicians did what they are meant to do – lead nations, making decisions that work for the wellbeing of their respective populations, rather than simply attempting to secure their own futures. Obama may have been the great hope for America, but he certainly has not been given much opportunity to implement his policies to actually save the day.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Obama Thwarted Again – US Require Economic Viagra EquivalentDominic2023-12-01T12:48:59+00:00

Asset Allocation Review

We have posted the revised asset allocation models to clients today, these should be with you by the weekend. The printed pack will include an instruction letter for you to sign and return in the first class Freepost envelope so that we can implement the changes to your portfolio. We cannot (and will not) make alterations to your portfolio without your permission as we are not discretionary fund managers (meaning we do not act under our own impulses to move things around and then tell you what we’ve done after the event).

Please let me know if you do not receive this and expected to do so.

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

Asset Allocation ReviewDominic2023-12-01T12:49:00+00:00

Moody Blues

Mood Blues

Today, Moody’s – the credit rating agency have downgraded their rating of several (twelve) UK banks. Before we all panic, let’s pause a moment to reflect. You will recall that the credit ratings agencies failed spectacularly to appropriately rate Retail Banks, Investment Banks and Nations. To say that the credit rating agencies were left looking rather stupid in 2008 would be an understatement. In recent months and today we have seen Moody’s and other downgrade the ratings for Banks and nations. Whilst there are serious economic concerns, which I would not wish to downplay, the reality is that lower gradings (or ratings) are surely more accurate and reflect the reality that many institutions are less sold than previously supposed. This does not mean that they are about to collapse. Remember that so far no major UK retail bank has become insolvent and UK savers are protected on the first £85,000 of their deposits in a single institution. See the FSCS for more information.

Good practice in the current climate would suggest spreading cash deposits across banks, but there is no good reason at this point to withdraw your cash and stick it under the mattress. We need the banking system to run our day-to-day lives, whilst it may have lots of problems and there are plenty of fairly dubious characters around in the industry, no one has any good reason to see the bank system stumble or fall. May I suggest that this is more a case of once bitten, twice shy.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Moody BluesDominic2023-12-01T12:49:00+00:00

NEST: The Times They Are A Changing

I have provided another new document which will help both employers and Trustees in relation to the changes in workplace pensions. I have not been terribly creative with the title, which is “Staff Pension Schemes – Prepare for the Future”. If you would like a pdf copy do let me know and I will send you one. I would also encourage a look at the Pensions Regulator website, they have some very readable documents and are the ones that really need to be most satisfied when it comes to introducing a staff pension scheme. This is a far superior site to the NEST site, which I still have trouble navigating to find what I want quickly.

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

NEST: The Times They Are A ChangingDominic2023-12-01T12:49:01+00:00

Are We There Yet? In A World Where The Maps Are Being Redrawn

Many of you may know that I enjoy the theatre which of course is in constant supply here in London. On Friday I saw a production of “Driving Miss Daisy” which is currently playing at the Wyndham’s Theatre just off Leicester Square. I had not seen the original oscar winning film, but was looking forwards to the prospect of seeing James Earl Jones (the voice of Darth Vader) and Vanessa Redgrave. Sadly the latter was ill, but her understudy was very good indeed.

The story is set in the last century and concentrates on the relationship between two “outcasts” in American society at the time – the Jewish Miss Daisy and her black chauffeur. This is set against the backdrop of a rapidly changing society in America – from post second world war to the civil rights movement. A time that saw America dominate global economies with high levels of production and increasing personal wealth, when America literally became the engine driving the world.

The story is wonderfully told, with a clear appreciation of the power of friendship and loyalty. This is captured by a moving performance. It reminded me that we are perhaps in the last days of the American empire as western power gradually collapses and makes way for Eastern ideas. I’m not suggesting that this will happen overnight, but it does appear to be happening. As a society develops, it tends to have a number of casualties, the construction of the US empire was predominantly fuelled by building and equipping the world with weapons, whilst providing credit to pay for them (as outlined by the economist Dambisa Moyo in her book “How The West Was Lost“. Despite difficult circumstances, holding to basic principles and remaining open to change is how, in the end, we get there.

The play runs until 17th December and one that I would highly recommend. The show has come from Broadway, where it played at the start of the year to rave reviews.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Are We There Yet? In A World Where The Maps Are Being RedrawnDominic2023-12-01T12:49:01+00:00

Asset Allocation Review

I have reviewed all client portfolios and am urging caution in the current market conditions. I have amended asset allocations to reflect this and documentation will be issued directly to clients shortly. If you are eager to implement changes, please request the pdf version from me. You will recieve full instructions in due course.

We are a boutique firm of financial planners. We create financial plans designed to achieve a desired lifestyle. We will craft and implement your plan that will provide you with the greatest chance of accomplishing your unique goals based upon the values that you hold. Financial products are little more than the tools to achieve your required results
Call us today or visit our website for more information and to arrange a meeting

Asset Allocation ReviewDominic2023-12-01T12:49:02+00:00