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Problems for the Bank of Mum and Dad

With many furloughs coming to an end and an increasing number of redundancies being announced, the Bank of Mum and Dad is being asked to step in on a regular basis to help its adult children with their financial commitments.  Parents are seeing their children’s debt escalate, which is often primarily due to rent payments.

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Summer Statement in brief

The Covid-19 pandemic has had a drastic effect on the global economy, with the IMF predicting “the worst economic downturn since the Great Depression.” Social distancing measures, supply chain disruption and economic uncertainty have caused British economic growth to plummet – GDP fell by a record 20.4% in April.  The government clearly sees increased spending

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What’s your money personality?

We all have a different relationship with money. Recognising your money personality can help you better understand yours. Although no member of each group has exactly the same attitude towards their finances, researchers have identified four common attitudes towards money: Money Worship, Money Avoidance, Money Vigilance and Money Status.  Psychologists think that our internal beliefs

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What is the value of advice?

You’re not going to be surprised that, as advisers, our firm belief is that an advised client will get a better financial outcome than a non-advised client. How to prove, though, that we’re not just biased? What is the actual value of that advice? How can it be quantified?    Most importantly, the value of advice

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July markets in brief

market
As much of the West continues to tentatively emerge from months of lockdown measures, June has been an altogether more positive month when it comes to economic news. All the markets we report on rose during the month. The global Black Lives Matter movement and the new Hong Kong security law usurped Covid-19’s position as

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5 key points for becoming financially independent

Financial independence can seem like the holy grail. We may be striving towards it but feel bombarded by lots of conflicting messages on how best to attain it. These five points give an interesting perspective:     Income is not the same thing as wealth Having a high salary can help you accumulate wealth but that’s no

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Retirement planning in the time of Covid-19

retirement
The COVID-19 outbreak has signalled the dawn of a worrying time for everyone. As well as anxiety about our own health and the wellbeing of our loved ones, many of us are understandably worried about the financial future. Recent stock market turbulence is concerning for all investors, but particularly for those who are in defined

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The ins and outs of income protection

Given the current climate, it’s not surprising that income protection is a key concern for many people. Insurers have reported that the number of enquiries about this type of cover rose by more than 1,000% in March as the number of people fearing redundancy skyrocketed. Income protection is an insurance policy that pays out if you’re

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June Markets in Brief

market
May saw a more positive month for most of the stock markets we discuss, despite the COVID-19 pandemic taking centre stage across the globe. India and Hong Kong aside, all major stock markets made gains during the month.  The world is tentatively beginning to emerge out of lockdown and there are some signs that the

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The effects of Covid-19 on the housing market

The coronavirus pandemic will have long term implications for all aspects of the residential housing market. As restrictions are gradually lifted, the sector is starting to operate again, albeit under social distancing measures. But with the Chancellor confirming that it is “very likely” that the UK is in a significant recession, consumer confidence will be

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