Got a fixed rate?

There is much speculation at the moment about interest rates and inflation.

Inflation is now at a 10 year high and it is much worse than many of the experts were predicting. The economy is good (so we are told) and wage demands are running high, with high demands expected in the spring.

Who else has noticed the intensity of sales pre Christmas? I’ve never had so many e-mails with discount vouchers and its cost me a fortune! But, does this mean that they’ll get more in before Christmas, or will the punter wait till the sales? Walking out and about in town I can tell you that there are loads of people out there, lets hope there’s enough of them spending money.

So what’s happened to the governments 2 point zero target? Nothing! It’s been running above the target 7 months now and Retail Prices Index (RPI) has been long seen as a measure to target higher wage rises. If you don’t receive inflation or above, in real terms you’re moving backwards! It might be unfair to say nothing has happened, but although good for the saver, rising interest rates suggest something is amiss and maybe worth some thought?

It’s our job to insure clients monies keep ahead of inflation, its target number one for us.

What should you do?

1, Speak to Jane Robertson who heads up our mortgage desk if you are concerned about the type of mortgage you’ve got. Apathy often sees clients stuck in a rut and paying over the odds on a Standard Variable Rate (SVR), maybe it’s time to get on a fixed rate?

2, Investments? Don’t just leave the monies sat in a bank account (often at way below inflation). Leave enough to ensure the direct debit monies can and will be met, then have your savings pot or emergency fund, the other monies should be working harder and smarter. We have other options, we have ideas for lower risk monies and our accountants and solicitors are finding that more and more that clients need to protect their wealth.

3, It’s a good time of year to have a review. A little shake up every now and then can do wonders for the mind. Maybe it’s all tickety boo and no need for change, maybe a little tweak here or there, but at least have a look at it.

4, Don’t just do nothing!

Whoever your adviser is, pester him or her a little and see what’s going on.

Johnny

Benefits of Mutuality?

The Nationwide has announced that they are ending their policy of offering the same rates for every customer.

This is regrettable because they were seen as different and in my opinion their stance with regard to this was perceived as one of the benefits of mutuality. That said, offering different rates depending on the status of the buyer does tend to favour first time buyers, which in difficult times for many of them, can be argued to be a good thing for them at least.

Nationwide often criticised other lenders, particularly in a high profile advertising campaign based on the benefits of mutuality being demonstrated in one rate for all borrowers, and to reverse this stance looks to be a bit hypocritical.

I’ve added a link to read about what was said in the Times; if you are stuck on a standard variable rate or simply want to address your borrowing, discuss rates, look at buy-to-lets or to find out what’s out there, then give Jane a call or e-mail her.

http://business.timesonline.co.uk/article/0,,9063-2474919,00.html

Jane Robertson
020 7 491 5060
j.Robertson@morgans.co.uk


Johnny

Target Two Point Zero

You may or may not be aware that the government has a target for inflation, which is 2.0%.

There is also a contest for sixth-formers and the first rounds start shortly. It’s a joint effort run by the Times and the Bank of England.

Have a look.

http://business.timesonline.co.uk/article/0,,8209-2450968,00.html

Does actually give some helpful understanding of why interest rates fluctuate, how the economy is driven and the impact of interest rate changes.

Johnny

Interest rates, it was inevitable

The Monetary Policy Committee had their monthly meeting and has announced that interest rates need to go up.

The Bank of England base rate now stands at 5.00%, which is the highest it has been since August 2001.

Johnny

Bank of England Rate Rise?

Well, they keep saying that interest rates are going up, but this time it seems inevitable.

Inflation needs to be kept under control, yet manufacturing needs healthy progress. And, this means there is an argument for both sides.

Mortgages, credit cards, overdrafts, business loans (all debt that isn’t fixed in other words) could all move upward after today’s monthly monetary meeting, which will be announced at midday.

Yet, we need manufacturing to continue to progress and expanding the working force helps the economy to grow at a healthy pace, without this it can weaken our position internationally.

We’ll know later which way the MPC will call it.

Johnny

Equitable Life update

Since the near collapse of the Equitable Life in 2001 there have been unanswered questions, in particular, did the Government fail her policy holders?

The Parliamentary Ombudsman is to write to the Government this week and Ann Abraham is expected to report by the end of the year. Should I be cynical and suggest that there maybe further delay?

Anyhow, yesterday, there was a delegation of MEP’s looking into whether or not the Equitable policy holders were failed and did the UK Government sufficiently implemented European directives on financial regulation.

If you still hold monies within the Equitable, especially With Profit monies, I do advise that these are reviewed and ensure that they are at least monitored. The penalties to exit (Market Value Adjuster) have fallen and if it’s been a while since a review, then maybe it’s time for a check up?

Johnny

National Identity Fraud Prevention Week 16-22nd October

I touched on this subject last week and here is a bit more information. I know of a few clients and friends that have suffered this, even our own staff!

It can happen to anyone, but some simple measures can reduce the chances of it being you. I have attached link below and although much of it is basic stuff, I think it is worth making sure that we are keeping up to date with the latest forms of attacks we might come across.

Prevention is obviously better than cure, but if you have been attacked then you will need repair your credit rating. This can be a difficult task and professionals even suggest consulting with a solicitor if needs be, which will cost!

Have read, be vigilant and this week, have a think why it’s National Identity Fraud Prevention Week!

http://www.stop-idfraud.co.uk/

http://news.bbc.co.uk/1/hi/business/6047174.stm

Johnny

Dilko Wizard

Martin Dilke-Wing, Director at Morgans, finished 18th in the ‘Times National Crossword Solving Championship’ last week. Out of 172 finalists who were required to solve 3 puzzles in one of 2 qualifying sessions, he qualified 8th out of 83 from the second session (all correct in approximately 30 minutes) to get to the Grand Final of 24 where sadly he made one mistake on one of the 3 puzzles to finish 18th out of 24. His average time per puzzle was 13 minutes. This is still a personal best for Martin and this also means that he gets an automatic exemption from pre qualifying into next year’s finals.

Good stuff Martin!

Jonny

Nike Run London 2006


5 of our guys did the run and here are the times for each of them;

Alun Webster (Big Al) - 46 mins 18

Lloyd French- 46 mins 56

Matthew Leaver - 47 mins 30

Quan Liu- 1 hr 3 mins

Candice Fields - 1 hr 12 mins

They all did well and you can see each of them finish on the Run London website, if you click on ‘watch your finish’ you might just catch a glimpse of them coming in.

https://www.runlondon.com/

Plenty of training and pre-run banter was about prior to yesterday and I’m sure there was probably a little bit of niggle/competition between the lads with Big Al (obviously running for North of the River (that’s the not so dangerous side!)) getting in ahead of his gym/running partners.

Well done guys, great effort!

No I didn’t forget, I’m sure you’ll agree that the advertising for this was fantastic….of course it was, our clients Wieden & Kennedy did it! www.WKLondon.com

Johnny

How to make the best conkers

Ok, so this is really financially related….

You can’t send your kids off to school without giving them the best chance. We help with the schools fees planning, university funding, residency ideas for uni, such as buy-to-lets and in general try and help with ideas.

Anyhow, school is also about having a bit of ‘street cred’ and if little Timmy can smash his way through to a double figure conker that Dad has prepared, then that’ll surely bring you a smile.

Here are two of my methods, but don’t blame me if they bust on the first swing!

Preparations :

Gather plenty of conkers, bigger in this case is often better. Get something out of the garden that has water in it (as opposed to using the tap!) and see if the conkers sink or float. Discard all the sinkers as they will have either fractures or internal damage. Then with the others, put them in a warmish, dry place for next year!

Ok, so you didn’t do that last year and need to crack on with this year…

Method One: soak in vinegar for 15 minutes, then bake on high for 5 minutes. Leave to dry, drill a hole through the middle and it must be the middle and don’t use skewers or such, you need the drill to pull out the debris so as to avoid damage to the conker! Then coat in ‘sneaky marine varnish’, get a couple of coats on there and once dry, get nylon cord probably 4 or 5 mm and get a big knot the other end, cord should be circa 250 to 300 mm.

Method Two: soak in olive oil for a week, then use the same method for the hole.

Both have worked pretty good and should get you up to a ten-er, I do prefer the first one though I have to admit….

Safety Disclaimer…Oooh, don’t forget to wear safety goggles when drilling and playing, get an adult to secure the conker in a vice before drilling, wear gloves and other safety apparel and shin pads, when engaging in conker games….. yeah right, nothing like a bruised shin when you miss!

Johnny

Anti Money Laundering

Every brokerage has a reporting officer and we are no different.

We have to treat this seriously, we have to obtain details of who our clients are and now many of the providers with whom we place business will want to know the origin of the monies, such as inheritance, savings and so on. Failure to comply isn’t an option as advisers face imprisonment for certain breaches and I certainly don’t fancy that!

So we do our bit, but there is another threat that both we and our clients face and it is worth taking a bit of time every now and then to make sure that our own pc’s are protected.

I’ve added a link that I came across on the BBC, it’s worth a read.

Most of it is basic stuff, but as these criminals become more and more sophisticated, it’s worth making sure that you get up to date with your software protection, firewalls and preventative measures to combat data theft.

Have a look at the links below :

Please remember that Morgans is not responsible for the content of external internet sites

http://news.bbc.co.uk/1/hi/technology/5414502.stm

http://news.bbc.co.uk/1/hi/technology/5414696.stm

Johnny

Faster Than A Speeding Bullet

For all of you who may of doubted ......

Weekend Press

I’m going to post up articles that I feel are useful for our clients.

In the Sunday Times, there was a good piece on the frightening letters that 10 million people would have received.

It will heap more pressure on employers being forced to consider alternative options for their staff due to the already expensive cost of providing defined benefit schemes and possibly now added pressures from staff and the trustees.

There are of course options and we’d urge our clients to speak to us if they feel their scheme or employer (more importantly) is in trouble. Many final salary or defined benefit schemes has under 100 members and if you are in one of these, you are unlikely to have received one of these letters.

Have a look at the article.
http://business.timesonline.co.uk/article/0,,8214-2382453_2,00.html

Johnny

Saw this headline and thought ‘wow’

Slash your tax bill by £10,000 down the pub!

In the Sunday Times it certainly caught my eye and although I initially started drifting off in the thought of a Pint of Pride, I soon realised this wasn’t going to be some form of tax relief for every pint I had down my local. Pity.

Anyhow, we’ve got Michael Coulson-Tabb who is our in house specialist for tax schemes and although this particular one might be a bit late as the deadline is Thursday, it’s worth a read and it could be something that leads onto discussions about the various other options that Michael has in his bag of tricks.

Speak to him.

http://business.timesonline.co.uk/article/0,,8214-2382418,00.html

It’s great when a Chelsea boy makes a basic error…..

Matt Leaver, one of our admin sales support guys and arguably one of the fittest lads in the office, Martial Arts (so I won’t go too far with this..), running, gym and a bit of football sent this e-mail to Big Al. And, Big Al thought it best if I received the e-mail to add onto the website. The e-mail is below and so is the weblink for his footie team.



From: Matt Leaver http://www.ashtonprime.uwclub.net/reports/2006/match2/Match2.html

Couple of assists even in defeat…class act!

Matthew Leaver


Obviously, if he supported West London’s finest football team (the hooped one) then I might not have been so harsh! Sorry Matt.

Johnny

Paul Hancock

Paul has joined as a paraplanner from Origen IFA in Farnborough where he was an annuity consultant. Prior to that, Paul worked for ‘the Pru’ working on the buy-out of bulk annuities, taking on liability of final salary wind up's and techie stuff.

Paul lives in Reading and his interests are playing golf & badminton, travelling and seeing concerts.

The role of a paraplanner is to do the behind the scenes work for us advisers. Paul and Big Al are forming a good relationship in helping with research and techie stuff to support us in providing excellent reports for our clients.

He has fitted in well and we wish him the best in developing his career with us.

David Taylor – our new Owl

David joins from a mid sized IFA in Northampton where he led the Corporate Sales operation. Prior to that he was with Marsh for 9 years, the last two of which he was the Practice Leader for the Employee Benefits operation in the European Head Office in London. He has joined Morgans to develop the corporate benefits offering into a market leading operation, and is excited about the prospect of developing a number of unique offerings for corporate clients.

David lives in a village just outside Northampton, and is clinging to memories of a sporting past by playing village cricket in the summer and rugby in the winter. As he’s said at the start of the last 3 seasons…..this will be my last!

Owl? Well he’s from Sheffield and he isn’t a blade.

David is clearly an expert in his field and we are going to learn a lot from him. Welcome on board David.

Johnny

The Guvnor aka ‘Ironman Brodie’

Swim – 2.4 miles
Bike – 112 miles
Run – 26.2 miles

12 hours 49 minutes and 38 seconds

What a way to spend your Sunday!

In scorching temperatures on August 20th in Sherborne Dorset, 1,500 competitors entered the extreme sport of UK Ironman Triathalon. The eventual winner was New Zealander Bryan Rhodes with a time of 8 hours and 42 minutes.

Alex came out of the water in 108th position, dropped back after the bike ride into 860th, was raked 533rd for the run and finished a very respectful 592nd. He was actually 47th in his age category!

Put this into perspective, after an hour of swimming, he then cycles the equivalent of London to Birmingham and then finishes it off with a marathon. Doing anyone of those is pretty tough, but all three in succession is something else.

And, Jack & Tom also showed that they too have that Brodie competitive edge. The day was a family day and the youngsters were encouraged to compete in their own event.

Tom did an 800 meter run, followed by 1k on the bike then another 400 meters and out of 54 competitors he finished 8th!! He was only a minute and a half behind the winner (who was a bit of a pro). Tom’s time was 10 minutes and 17 seconds.

Jack started with a 400 meter run, then 1k on the bike followed by another 400 meter run. There were 22 competitors in his event and he finished in a respectable 8th place. Jack’s time was 5 minutes and 44 seconds, 1 minute 22 seconds behind the winner.

Tom & Jack’s times were pretty impressive and they ran the last bit in with their Dad too, see the picture.

Alex has already indicated that he fancies having a go at another one, this time sub 12 hours he says, new bike, stack of training and maybe somewhere exotic? Maybe he’ll need a cycle coach to go with him??

So into February !

Well the first month of 2006 has flown by - and Easter Eggs are already appearing on the shelves...

Work is a busy as ever ! Now don't forget you can add your views to what I post online as well - all you need to do is to click where it says 0 comments and then tap in whatever you want to say ,then remember to select Other, if you want to leave your name, or Anon if you don't (!) and then complete the word verification, click on "publish your comment" button and off it wings it way to the office.

Once it arrives and the humourous comments are circulated around the building they are added so all can enjoy ;0)

Any queries you can drop me a line at J.Hardman@morgans.co.uk - oh and be warned - pic of me soon to appear !

All the best


Johnny

This could be the last of these…..

Philip Porter, our Managing Director was 40 a couple of days ago.

Anyhow, not being one to miss an opportunity, I called Phil’s brother Nick and he called Mr Porter senior.

Well, Mr Porter went through the family albums and he found a couple of rather lovely and cute photos of his boy. He sent the photos up to Nick and we had a covert meeting in Green Park to hand over the ‘brown envelope’.

Very public, there were guards and coppers everywhere and it must have looked a bit odd, two blokes in a hand over… We had a little chuckle and skimmed through a dozen or so very flattering shots of our MD.

I just couldn’t decide on which one, some were group shots and I didn’t think it fair on others in the pictures, even though there was a great page boy shot. Anyhow, he had an interest in farming in his younger years, so the tractor is in fitting (it is an old shot, so apologies for the quality) and then the Porter grin and someone told me he’s still got that jumper….

Happy Birthday Phil !

There should be more postings soon, depending if I still have a job…..

Johnny

Happy New Year

2006 is going to be cracking!

I’d like to wish all of our clients, introducers, product providers and anyone that ever visits our website a Happy and Prosperous New Year.

The festivities are over, the office has the usual faces back in and we are all looking forward to cracking on with it again.

It’s been a bit quiet over the festivities and there are no pictures of me stuffing the turkey or opening another bottle of Port.

Keep an eye out for things to come, a certain person has just had their 40th and it would be a shame to miss out on an opportunity to put a nice picture up of him…..

Keep well

Johnny