Tag Archives: Wealth Management

PM+M Two-Wheeled Professionals Networking Ride

networking cycling blog

The afternoon of Wednesday 19 April saw the third 2017 gathering of PM+M’s two-wheeled professionals cycle-networking ride. The weather, yet again, was kind and the group met at The Green Jersey in Clitheroe to head out for 25 miles of pleasant riding and business-related conversations. Thanks to modern technology and GPS tracking the route can be viewed using the following link https://www.relive.cc/view/949367024  but took in Bashall Eaves, Cow Ark, Whitewell, Chipping and Chaigley.

The turnout, as ever, was excellent and we certainly weren’t short of representation from many different disciplines including lawyers, bankers, estate agents, marketing specialists andmore!

As ever the conversation flowed as well as the route and I am aware of at least a couple of follow-up meetings in the diary. Post-ride feedback was as positive as ever and the format universally praised. Collaborative communication within the group is so good that the route was planned to allow one of our riders to swing off home on our return to Clitheroe in time to successfully sell a car without missing the ride!

If you are interested in an invite to the next event then please get in touch.

Neil Welsh - Navy
Neil Welsh
Independent Financial Advisor
Email: neil.welsh@pmm.co.uk
Tel: 01254 679131

Don’t panic! A brief message to PM+M Wealth Management clients following the Brexit announcement

Whatever your views on this morning’s result, it has predictably led to some uncertainty and the one thing markets don’t like is uncertainty.  As I write the FTSE is trading at 6,190 having opened the day at 6,350 and having recovered from a low of 5,806 early this morning.  So we can expect some volatility in the short term!

You should bear in mind the following points:

  1. Our investment process involves regular portfolio reviews face to face.  Probably the most important issue we cover at a review meeting is to assess how much cash to hold on deposit and how much to invest.  We encourage our clients to hold sufficient cash on hand to ride out any storms.  It means you can sleep comfortably at times like this because you don’t have to sell when the markets are down.
  2. Not all your portfolio is held on the stock markets and we help you make sure you don’t have all your eggs in one basket.
  3. Sharp falls in markets can happen as a result of economic news or political crises.  The biggest gains can also can be just as unpredictable and often clustered together.  For this reason we recommend sitting tight during times of turbulence.  Missing the best gains can seriously affect your long term returns.

We’ll keep you posted on our views on regular basis over the next few weeks and months.   In the meantime, if you have any concerns please don’t hesitate to contact one of the team.

Tony Brierley – Managing Director, PM+M Wealth Management

PM+M Wealth Management is authorised and regulated by the Financial Conduct Authority.  

Private Education – Is It Affordable?

Private Education BlogIt’s no secret that the cost of private education tends to rise much faster than inflation in the longer term. In 2015, private school fees have risen by 3.5%, the lowest rate since 1994 according to the Independent Schools Council (ICS) 2015 Annual Census. However, despite rising costs, record numbers of pupils attend private schools.

Despite the common misconception that private education is just for Britain’s wealthy, there are some affordable ways parents can meet the cost of their children’s education.

The costs and bursaries/scholarships

Fee levels vary significantly by region from just over £3,000 per term for a typical day school in Wales to more than £5,000 per term in London. Many schools offer bursaries and/or scholarships to help less affluent families afford private education. Families whose disposable income is largely taken up by school fees are given the most support and many institutions actively canvas for these types of applicants. According to the ISC, over a third of pupils in private education now receive some form of financial assistance.

Start saving early

Work out the numbers for your preferred option and assess how much you need to save on a monthly basis. It helps to keep a budget. Starting to save, from the moment your child is born, could give you around 10 years to build up funds. Make sure that your investment strategy is sound. Proper investment can yield much better returns than the bank or building society in the early years, but don’t take too many risks when you need to draw down on the savings you have accumulated. If you are responsible for a child under the age of 16 you can make use of child benefits, and tax-free advantages of ISAs. But watch out! Junior ISAs can’t be withdrawn until the child is 18, so could only be used to fund university education.

State schooling until they move to secondary school

Starting a child’s private education later could save money – for a child entering school this year and leaving in 2028, sending a child to private school from age 11 could save you up to £100,000.

Both parents working

Having combined salaries with your partner can help you manage the costs of your child’s private education. This may increase the appeal of sending your child to boarding school. Whilst this is a more expensive option, it allows parents to continue to work without having to compromise family time during term time.

Help from the grandparents

Many grandparents are starting to get more involved in supporting their family and contributing towards their grandchildren’s education. Gifts of capital and out of income can be a successful way of reducing any inheritance tax liability whilst providing for future generations. Trusts might also be a useful way of reducing tax liabilities overall.

In summary, remember the three basics of financial planning. Make the most of all the tax breaks available to you, manage your investment strategy carefully and most importantly – plan ahead and start early. For more information on planning for your child’s future, get in touch with our Wealth Management team by telephone on 01254 679131 or by email at wm@pmm.co.uk.