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IWP expands with acquisition north of the border

Expanding Financial Planner and wealth manager Independent Wealth Planners (IWP) has acquired Scottish Financial Planning firm Gilmour Hamilton Wealth Management in a move to extend its presence north of the border.

Gilmour Hamilton Wealth Management is based in Kilmarnock and has been in business for over 30 years.

The company will join IWP’s regional hub in the area, AGL Wealth Management.

John Roberts, partner at GHWM, will continue to head the Kilmarnock office and will lead a team of IFAs and support staff, IWP said.

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Mr Roberts said: “Our new partners at AGL Wealth Management share the same core values and philosophy, allowing us to continue to develop and expand our proposition with a focus on the delivery of first-class client outcomes. This has and always will be our priority. 

“Joining the wider group of IWP firms is exciting as well, and we look forward to sharing ideas

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Swiss regulators extend probe into spying at Credit Suisse

Switzerland’s financial regulator started enforcement proceedings against Credit Suisse Group AG over a spying scandal that led to the ouster of ex-Chief Executive Officer Tidjane Thiam.

The move marks an escalation of regulatory involvement in the espionage charges, which also triggered probes by Swiss prosecutors. Finma said it will pursue any potential violations of supervisory law, and in particular will scrutinize how these activities were documented and controlled.

Credit Suisse is struggling to move beyond one of the most damaging episodes in its recent history after it spied on star banker Iqbal Khan, who was leaving for rival UBS Group AG. The scandal tainted the bank’s reputation, led to the exit of Thiam in a power struggle, and rattled Swiss financial circles.

Chairman Urs Rohner turned to Thomas Gottstein, a two-decade Credit Suisse veteran, to restore investor confidence. Gottstein has had to contend with a series of setbacks since the … Read the rest

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Rocket Internet Has Made a $3.1 Billion Damp Squib

(Bloomberg Opinion) — Imagine you and I own half each of a $100,000 sports car that has another $50,000 locked in the trunk. The problem is that I have the car keys, so you can neither drive it nor access that money. I offer to buy you out for about $50,000. Fair deal?You’d doubtless feel hard done by. Yet Oliver Samwer, chief executive officer and founder of Germany’s Rocket Internet SE, is making a similar proposition to his fellow shareholders. He wants to take the web-investment company private again, and he’s offering to buy out other investors in a way that would let him and his family keep that nice little stash in the trunk. Samwer and his brothers own 45% of Rocket, but they’d like to own all of it so they want to use the company’s cash to acquire the rest of the shares. First off, they’re doing … Read the rest

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How To Calculate Rate Of Return (ROR)

Knowing how well your investment performs is crucial in understanding if you’ve made a good purchase. One of the most common ways to evaluate investments is by finding out its rate of return. This is the net gain or net loss of an investment during a period of time. A rate of return is a percentage, positive or negative, of the initial cost of the investment. This percentile change is what is referred to as the rate of return (RoR).

As an investor, it is important to understand what RoR is and how to assess it. Any of your investments can be assessed this way, including stocks, bonds, or real estate. When thinking about an investment and assessing its RoR, investors look at rates of return from a past point in time and compare them to current similar assets to help evaluate the best performing investment. As you study … Read the rest

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Beaufort Financial poach new North Wales director from Sanlam

National advisory firm Beaufort Financial have appointed Gwilym Lloyd Jones as the new director of its North Wales firm, Beaufort Financial St Asaph & Chester.

Mr Lloyd Jones takes over from managing director and founder, Stephen Lyth, who is set to retire after more than 38 years in the Financial Planning industry.

He will take responsibility for the day-to-day running of the business, whilst working closely with co-founder and senior partner, Gaynor Lyth, to shape the future development of the firm.

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He joins from Sanlam where he worked for over ten years, most recently as a senior Chartered Financial Planner. The 33-year-old is a Fellow of the Personal Finance Society.

Ms Lyth said: “Over the years, we have worked hard to build a reputation as a skilled team of local specialists who genuinely care about client outcomes. Finding a like-minded individual of Gwilym’s calibre was therefore extremely important

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All Raise fights ‘manels’—all-male panels—with the launch of its own speakers bureau

All Raise started as a group of female venture capitalists who got together once a month for breakfast. The gatherings soon grew into a call to action, dedicated to increasing representation of women among both VCs and entrepreneurs. 

That was back in 2017. Today, the organization has chapters in several U.S. cities and runs a variety of programs, from mentoring and coaching to bootcamps that prepare female-led startups looking for investment. Now, the non-profit is also launching a speakers bureau called Visionary Voices, made up of female and non-binary founders and funders who are interested in speaking opportunities—a key piece of building a reputation in technology and investment circles. 

“This feels like a very logical extension [for All Raise], and the time is right,” says Pam Kostka, CEO of the organization. “This is a bold move to say that we need to amplify the voices of women and non-binary … Read the rest

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Apple Preparing 75 Million 5G iPhones Alongside New Watches and iPad

(Bloomberg) — Apple Inc. has asked suppliers to build at least 75 million 5G iPhones for later this year, roughly in line with last year’s launch, in a sign that demand for the company’s most important product is holding up in the midst of the global pandemic and recession.The Cupertino, California-based technology giant anticipates shipments of these next-generation iPhones may reach as high as 80 million units in 2020, according to people familiar with the situation. Apple plans to launch four new models in October with fifth-generation wireless speeds, a different design and a wider choice of screen sizes, said the people, who asked not to be identified discussing unannounced products.Among a comprehensive product refresh in the fall, Apple is also preparing a new iPad Air with an edge-to-edge iPad Pro-like screen, two new Apple Watch versions and its first over-ear headphones outside the Beats brand. A smaller HomePod speaker … Read the rest

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Best Practices In Relocating Your Millennial Workforce

Here’s a staggering fact: Millennials (Gen Y) make up the largest generation in the current workforce. This has impacted the way organizations run their workspaces in a way that skews towards technology, collaboration, and flexibility.

This being said, companies need to change the way they conduct relocation practices. According to an article in SHRM, the majority of HR managers report that millennials are the hardest generation to relocate as they don’t see relocation as a priority and have different requirements and goals in mind.

As relocation is crucial in retaining top talent and company culture in a new area, we’ll take a look at some of the best practices you can conduct in order to relocate your younger, vibrant employees. 

Give Them More Autonomy.

A stark contrast between millennials and the generations before them is their preference towards being in control. They want their employers to cooperate with them Read the rest

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Pension Awareness Week goes virtual

The annual Pension Awareness Week roadshows have gone virtual, with the launch of a five-day online event to help people with pensions, money and financial wellbeing.

The annual campaign is run by pensions consultancy Pension Geeks and usually sees the company travel to multiple locations across the UK. It takes place around the official UK Pension Awareness Day on 15th September.

The five-day virtual event will give people the chance to send live questions to be answered by a ‘Pension Geek’ and can also have retirement planning questions answered in a pre-booked one to one guidance session.

The online platform will also feature a range of videos, blogs, tips and other useful and practical resources. It will remain live for one week after the event, to enable people to view any of the content on demand.

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The campaign is being supported by the Money and Pensions Service

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Warren Buffett’s $6 billion investment in Japan is not as unusual as it might seem

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On Monday, Berkshire Hathaway, the giant holding company chaired by Warren Buffett, announced it had acquired a roughly 5% stake totaling approximately $6 billion in five of Japan’s largest trading houses. The purchase is the latest of Buffett’s bids to expand overseas, as his $520 billion investment firm remains heavily U.S.-weighted.

“I am delighted to have Berkshire Hathaway participate in the future of Japan and the five companies we have chosen for investment,” Buffett, 90, said in a statement announcing the investment, which sent shares in all five companies up on Monday. Berkshire Hathaway had spent the past 12 months slowly acquiring its stake in the five firms: Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo.

The so-called Oracle of Omaha typically invests closer … Read the rest