Brexit: what now?

The outcome of the Referendum confounded the predictions of the opinion polls, the bookies and the markets. All three ended the working day on 23 June with the assumption that the Remain side would win, albeit by a small margin.

That consensus is one reason why the markets moved so sharply when the results emerged. Initial falls in the pound and the world stock markets were a knee-jerk reaction of a near instantaneous change of view. The resignation of the Prime Minister merely added to the short term concerns, even though it was always likely soon after a Leave vote.

Pause and take stock

At such times, it is worth pausing for breath before taking any precipitous action. History suggests that trying to exploit the unavoidable turbulence carries considerable risks. As the Governor of the Bank of England said in his statement on 24 June:

“Inevitably, there will be a period of uncertainty and adjustment following this result.

There will be no initial change in the way our people can travel, in the way our goods can move or the way our services can be sold.

And it will take some time for the United Kingdom to establish new relationships with Europe and the rest of the world.”

The next few days and weeks will see sharp market movements, probably in both directions, as the markets find a new equilibrium. Those are conditions traders will attempt to exploit, but for long term investors a wait-and-see approach will generally make more sense.

If you have any concerns around your investments or other questions, please don’t hesitate to get in touch with us.

New Investment Head for Gemini

Wealth management and Independent Financial Adviser organisation Gemini Wealth Management has reappointed Paul Reid as its Investment Manager following the departure of Chris Hill to Miton Asset Management.


IMG_2128Paul has been with Gemini, in various roles since its inception in 2006 and last headed the investment management team in November 2013. He takes over day-to-day responsibilities for managing the team and client assets totaling in excess of £245million.

Speaking of his reappointment, Investment Director Jason Moore comments “We wish Chris well in his new role at Miton, but are pleased to welcome Paul back into the role. Paul knows Gemini’s processes and clients inside out and will be a great asset to the team”

Fellow Director Gary Metcalf adds, “With the ongoing planning for the launch of our Discretionary Investment Management proposition later this year, Paul’s knowledge and qualifications will prove invaluable. He is a longstanding and respected member of our team”

Paul concludes, “When Chris left, I was happy to step back into my former role. As an adviser, I had worked closely with the team and it was easy to pick things back up and hit the ground running. With this being Gemini’s 10 year anniversary and with the imminent launch of our discretionary proposition, it is an exciting time.”

Gemini Wealth Management is part of the Gemini Professional Financial Group. For more information on Gemini – please visit www.gemini-pfg.com

Key Person Insurance

Nobody likes to think about the likelihood of the death of a colleague, if one of your colleagues was to pass away it could affect your business greatly, especially if that person is a key component to your businesses success. This is why many people see this insurance as a very worthwhile safety precaution.

Key Person Insurance is Life insurance on the people you deem as being most valuable. It is an important thing to have if your business depends on one or two people to survive.

Some owners of smaller businesses are unaware that they need key person insurance, as well as life and disability insurance, in fact they do because it has been designed to protect the business:

  • Who Is Insured? – Key person insurance covers the founder of the company, the owner or a few employees.
  • How Does It Work? – Premiums would be paid annually by your business. The business would then become the beneficiary under the policy. When a key person dies unexpectedly, the insurance would pay the company.
  • How Is Money The Used? – The money received from the insurance for the death of the key person can be used to pay debts and support the business while they bring a new person up to speed with the role that needs to be filled. The money can also be split between the business and the family of the key person.

When thinking about taking out Key Person Insurance think about the following questions:

  • If you were to experience an unexpected loss of a key person what would happen?
  • Could you suffer a loss of revenue or income whilst you are trying to replace the key person/people?
  • Will you have a replacement ready to replace them? If so will you have to relocate the replacement from a different location?

For more information on Key Person Insurance, call us FREE on 0800 255 0123 or [click here] for one of our advisers to contact you.

Amanda Reid

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Tax Planning

Are you paying more than needed in tax? It doesn’t matter if its corporate tax, income tax or even VAT, you should ensure that you are not paying more than you have to.

As you will know taxation rules and allowances can change quite often and are very complicated, this is why it is very important that you are aware so that you can manage your personal finances efficiently.

If you were to understand the ways in which the various taxes work you would be able to manage your finances better, this may save you money in the future.

The tax year runs from 6th April to the 5th of April, in this period everyone is required to pay income tax based on their annual earnings. This helps to pay for such things as healthcare and also education.

Any profits made from assets which you have sold may also become taxable; this is known as capital gains tax. Furthermore, if the value of your estate was over the tax threshold after death, those inheriting your estate will then have to pay inheritance tax.

Financial advisers can help you with your tax planning, they can help you plan in advance to help ensure you do not pay more tax than is necessary.

Amanda Reid