Wealth Creation

Social pressure has very little effect on people getting vaccinated, according to new research by the University of Cologne.

The study, led by Daniel Seddig with a team of scientists from the Institute of Sociology and Social Psychology, has examined the willingness of people to be vaccinated during the Covid-19 pandemic.

They found that the intention to get vaccinated depends mostly on the personal beliefs that vaccination has positive outcome rather than on social pressure exerted by spouses, partners, families, friends or colleagues. However, expectations of others to get vaccinated were correlated with personal attitudes towards vaccination.

In addition, background factors such as the degree of trust in political or scientific institutions, health status, religiosity or political orientation had indirect effects on people’s vaccination’ intentions.

“Trust in science and fear of Covid-19 supported positive attitudes towards vaccination, while negative attitudes were associated with beliefs in conspiracy theories and scepticism towards vaccines in general,” says Dr. Daniel Seddig.

For this reason, to counteract vaccine hesitancy in the future, the researchers advise policymakers, physicians, and health care providers to emphasise the positive impacts of vaccination against Covid-19 such as protection from serious illness, death, and long-term health detriments.

“This explanatory approach could prove considerably more effective, maybe even for the most sceptical, than merely exerting social pressure or pointing out the easy access to the vaccines,” says Dr. Seddig.

The study has analysed over 5,000 people aged between 18-74 between April and August 2021, and January 2022.

It was published in the Journal Social Science and Medicine.

LONDON, 7 June 2022. Wealth Dynamix today announces that they are currently providing fully digitalised Client Lifecyle Management (CLM) solutions for the four companies with the top performing wealth managers in the world – Rothschild & Co, Mirabaud, Rathbones and Cazenove Capital as reported by Spears[1] in which 5 of the top ten wealth managers work for firms using our CLM systems.

As the ONLY end-to-end CLM provider for Wealth Managers, Wealth Dynamix takes CLM to unchartered territories. The Wealth Dynamix solution adds intelligence to client data. This empowers advisors to make the right recommendations at the right time, identify opportunities to grow revenue and boost operating efficiencies, all while ensuring regulatory adherence.

Gary Linieres, CEO and Co-founder OF Wealth Dynamix said: “Wealth managers have a problem. Clients are demanding cutting-edge technology at breakneck speeds. Hyper-personalisation and assisted forms, real-time recommendations, omni-channel experiences, same-day onboarding and seamless access to a large product ecosystem with e-signatures and secure chat to name just a few capabilities – are not just desired by customers but expected. Yet very few firms can offer this”.

“Our technological innovations are transforming wealth management. They boost balance sheets and improve staff satisfaction, while attracting and retaining customers like never before. The proof is in the pudding as we now power four companies with the top performing wealth managers”.

Wealth Dynamix’s technological innovations are transforming wealth management. They boost balance sheets and improve staff satisfaction, while attracting and retaining customers like never before.  Here are just some of the benefits our clients have realised when using Wealth Dynamix:

1,50% increase in productivity

Our CLM solutions prove that a client-centric approach is truly the best way forward, for the whole firm. We’re proud to reveal that since adopting our solutions, wealth managers have reported a spectacular 50% increase in productivity across front, middle, and back offices.

2.From 30 days to same-day onboarding

One of our most powerful improvements is reducing the onboarding time to a mere fraction of what it was. By combining powerful regtech with our client lifecycle technology, we’ve cut the process from 30 days to less than one. This doesn’t just make things quick and pain-free for customers, it liberates compliance teams too.  Our digital-first CLM removes paper from the process and replaces it with pre-filled online documents ready for e-signature at the click of a button.

3.95% improvement in the consistency of data

Our innovative technology brings together vast swathes of valuable information. From there, it creates highly accurate insights, forecasts and predictions. Since implementing our innovative technology, wealth managers have enjoyed an incredible 95% improvement in the consistency of data.

4.25% improvement in opportunity conversion

Convincing affluent and High Net Worth clients to opt for a new investment product or service can be highly beneficial for all parties. However, it can be notoriously difficult too. Since implementing our technology however, wealth managers reported a significant 25% improvement. This is an extraordinary achievement and shows the hard-hitting impact of our innovative solutions.

5.40% increase in staff satisfaction with technology

Since implementing our technology, wealth managers have noticed a boost in satisfaction in the workplace. Employees have better data, less admin and can solve problems much more efficiently. Across the front, middle and back office, clients report an impressive 40% increase in employee satisfaction. 

Founded in 2012 by wealth management technology experts Gary Linieres and Brent Randall, Wealth Dynamix are the first wealth management technology firm to revolutionise the Client Lifecycle Management (CLM) processes with innovative applications. Wealth Dynamix digitises the entire client lifecycle for private banks and wealth managers, from client acquisition and onboarding through to ongoing relationship management and client servicing. Wealth Dynamix identifies opportunities for boosting operating efficiencies and growing revenue, whilst enabling a significantly higher degree of client insight and due diligence. Wealth Dynamix operates globally with offices in the UK, France, Switzerland, Singapore, United States of America, Lithuania and Vietnam.

Harrods, the world-famous luxury department store, has solved one of its biggest headaches by diverting tonnes of its used paper hand towels from general waste.

Having already reduced Harrod’s waste by replacing its paper hand towel product with a more absorbent alternative, Banner, the full-service business supplies company, identified Kimberly-Clark Professional’s RightCycle service as a circular solution for paper towel sustainability.

The service seamlessly recycles all existing hand towel waste. The used paper towels are regularly collected, compressed and processed into new paper products.  Critically, Banner was able to set up this service at no additional cost to Harrods while retaining the premium nature of what they offer.  

Mick Twelves, Key Account Manager at Banner, says, “I investigated a number of suppliers and it became apparent that traditional waste management companies do not accept paper hand towels with the mixed recycling.  Then I found RightCycle by Kimberly-Clark Professional and I knew we were onto a winner.  The result is a massive reduction in Harrods’ waste footprint, with no impact on purchase price.

“As a long-term customer, Harrod’s knows that it can make significant steps towards its own CSR goals through us.  We’ve become an extension of their team, and through our ability to consolidate delivery and find solutions through our reach and relationships, we’ve been able to save the business time and money while also improving its sustainability.” 

Rebecca Morgan, Corporate Social Responsibility Manager at Harrods, says, “We’re on a path to a sustainable future and, as part of that we have some key focus areas for this year.  We’re plotting our path to Net Zero, we’re looking to substantially reduce our waste and increase our recycling rates, and we’re looking to reduce plastic from around the business.  Working with Banner and Kimberly-Clark, our facilities team identified the opportunity to recycle our paper towels into new paper products, which was an ongoing headache for Harrods.”

James Hallam, Circularity Program Manager at Kimberly-Clark Professional, says, “The customers get a closed-loop service with RightCycle; they know the hand towels are going back into making new products that they can buy themselves.  It’s as easy as throwing your hand towels away, but it’s a more responsible option for everyone, including the planet.

To find out more about Banner and it’s full-service offering, please visit www.BannerUK.com/case-studies

23 May 2022:A charity offering a creative outlet for people experiencing mental illness is set to benefit after becoming the official Charity of the Year for a Challenger bank. 

Redwood Bank, based in Hertfordshire and Warrington, has pledged to support PoetsIN with monthly donations and proceeds from its fundraising activities.  

The charity, founded by writers Paul Chambers and Sammie Adams, provides creative mental health programmes to help reduce the symptoms of mental illness. Its services include the flagship Creative Mental Health Programme™, a Buddy Service™ and one-to-one services with the aim of spreading ‘INspiring, INclusive and INformative’ messages. 

Paul said: “Having the backing of a corporate organisation like Redwood shows the great strides that have been made in reducing the stigma around workplace wellbeing, and the responsibility employers are now taking when it comes to supporting the mental health of their employees. 

“We’re hugely appreciative of Redwood Bank for choosing us as its Charity of the Year and we look forward to hearing what fundraising activities staff choose in order to raise vital funds for us. All the donations will go towards supporting those who need it most, when they need it most.” 

As part of the partnership, PoetsIN will deliver workshops to Redwood staff in support of their workplace wellbeing.  

Redwood staff have been busy establishing fundraising ideas and are keen to hit the ground running in support of the charity. 

The Bank’s CEO and Co-Founder, Gary Wilkinson, said: “We wanted to support a local charity, and after hearing about the fantastic support PoetsIN offered to people during the pandemic, it was an obvious choice. 

“We’re also looking forward to working closely with the charity to ensure our employees have the right support available, should they need it. Mental health is now more of a focus for businesses – and rightly so – and we believe the workshops offered by PoetsIN will be beneficial to our staff and support their day-to-day wellbeing.” 

Redwood has thrown its support behind a number of charities and good causes in recent years, including a donation of £10,000 for the East and North Hertfordshire NHS Trust in its fight against COVID-19 in 2020.  

Last year, the Bank raised funds for the teenage cancer charity, Teens Unite, with staff walking, cycling or running as many miles as they could throughout April. 

The hospice St Rocco’s also benefited after Redwood supported its ‘Renovate a Room’ scheme, donating £2,000 to refurbish a room for patients.

For further information, visit www.redwoodbank.co.uk. 

L – R: Redwood Bank CEO and Co-Founder Gary Wilkinson with PoetsIN COO and Co-Founder Paul Chambers

By Bansari Mayur Kamdar

(Reuters) -UK’s FTSE 100 recouped losses on Friday towards the end of a volatile week, led by defensive stocks, but investor concerns over stubborn inflation and economic slowdown set the benchmark index towards its second consecutive weekly loss.

The blue-chip FTSE 100 rose 1.4% in early trade, tracking an overnight relief rally on Wall Street as it recovered part of its initial sell-off on Thursday.

Banks and defensive sectors including consumer staples and healthcare stocks that tend to be less sensitive to the economic climate boosted the benchmark index.

Banks gained 2.7%, recouping their previous session’s losses, while pharmaceutical giants like AstraZeneca and GlaxoSmithKline rose nearly 1.5% each.

“Healthcare is seen as a more defensive sector, certainly with the ongoing pandemic. The demand for healthcare isn’t going to go away, so you’re seeing resilience there,” said Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown.

The commodity-heavy FTSE 100 index has fallen nearly 0.7% this week, trailing behind its pan-European peers, as weaker commodity prices hit oil and mining stocks amid recession fears and demand concerns.

Ongoing tensions between the UK and the European Union (EU) over post-Brexit trade rules for Northern Ireland also added to investor woes.

“There is concern that if there isn’t some kind of deal reached, there could be a fresh trade spat emerging between the EU and the UK that could lead to a further increase in prices,” said Streeter.

“That would be extremely worrying for the UK economy at a time when it’s already grappling with expectations of 10% inflation.”

The domestically focussed mid-cap index advanced 1.5%.

Sage Group rose 1.7%, after the software company’s first-half profit met market estimates and said its margin was expected to trend higher in the second half and beyond.

(Reporting by Bansari Mayur Kamdar in Bengaluru; Editing by Sherry Jacob-Phillips and Rashmi Aich)

You can’t argue that this new decade has been a challenge no matter where you are in the world. From health crisis, – mental and physical to financial crisis – personal and international.

It has also provided us with an opportunity to rethink what matters to us most. While we are gradually being sucked back into a world where “money matters above all else”, there is still a hope that your personal values can remain strong.

Let’s talk about that. What matters to you most?

Yes money is important because our society is built on its exchange as a form of vital energy, but what else really matters? What if I asked you the question?

What would you do if you never had to work another day just to pay the bills?

Through 1,000’s of conversations, the answer when we really dig deep is, family, friends, love and companionship. That is almost obvious because we are not a species designed to live a solitary life. 

It the second level of values where you start to uncover your passions and from passion comes true wealth. Imagine now you have “Enough” money that you don’t have to worried about the basics in life like food and shelter. You even have “more than Enough” so that you can enjoy life with family and friends in a meaningful yet modest way. 

Now explore what comes next. Its actual the answer to the question above – how would you spend your TIME? What would you do if you did not have to work?

Some people trigger a fear response at this point, they are scared to express their thoughts and desires for fear of ridicule (blame social media and trolls) and more importantly they fear failure. What if you told someone and they laughed, that’s bad, but what if you ‘tried and failed’ that’s worse. Well only if you see not achieving something you are passionate about, on your first attempt, as failure!

To live a truly wealthy life means that you have the time and the money to choose how you spend your energy. And when you get over the desire to have a very long holiday, and you arrive home bored, that passion you have will emerge. Then life becomes exciting. 

Do you want to focus personally, locally or do you have a vision for the planet? Do you want to do something for yourself or your family, like learn a skill, a language, a sport, or do you see a need in the community that you could support now you have more time? Maybe you know there is a better way: to feed the poor, house the homeless, produce and distribute food, even reverse the devastating effects of plastic waste or climate change.

Are you feeling energised yet, maybe empowered to think beyond yourself? If you are then there are four habits that truly wealthy people have that you could easily adopt, starting now.

First is Clarity: once you can see an opportunity for A Wealthy Life this becomes the magnet that pulls you forward to accomplish all you set out to achieve.

Control: is crucial because without taking responsibility for your personal finances, your income and expenditure, then you will never know whether you have Enough, More than Enough or a gaping hole in your finances. This is where you decide to manage your money like a master.

Leveraging your Resources: this skill is pivotal when combined with Control, as it enables you to make more from what you have or can control. This is where the income to free your time is created. 

And lastly Legacy: by creating Enough or More than Enough money you become free to make a difference. What difference do you want to make in the world, again at a personal level helping your children or grandchildren, locally in the community or on a global scale. And frankly why limit yourself you can do all three if you want.

Do you feel wealthy? Could you make a difference in the world? What is stopping you?

My website offers a free workbook called The four habits of a truly wealthy life. Please download a copy and start to great your wealthy life today.

Vicki Wusche combines her property investment experience with a talent for wealth strategy and mentoring. As a former university lecturer, 5 times author, international speaker, investor and exponent of A Wealthy Life, Vicki used her experience to combine a unique sets of skills that encompass strategic thinking, business advice, personal coaching and her own investment experience spanning more than 25 years, to add power to her clients lives.

Guidant Global are delighted to announce that Stephen Salmon, a Senior Marketing Executive in the company’s Centre of Excellence, Talent Marketing team, has earned a place in the Guinness World Records books.

Stephen’s finishing time of 3 hours 18 minutes and 15 seconds at the 2021 London Marathon has been officially recognised as the new Guinness World Records time for the fastest marathon in a non-racing wheelchair.

Stephen’s record-breaking effort raised more than £10,200 for Whizz-Kidz, the UK’s leading charity for young wheelchair users which works for a society in which every young wheelchair user is mobile, enabled and included.

Stephen became a wheelchair user in 2008, when he developed spastic paraparesis following a neurological infection while serving as a Royal Engineer in the British Army. In a blog post for the Guidant Global jobs site, Stephen said:

“Completing the London Marathon has been a long-term goal of mine, even before becoming a wheelchair user. Finally accomplishing this goal means a great deal to me. Now that I’ve done it, I’m able to close a chapter that has been 13 years in the making and start a new one.”

In an interview with Guinness World Records, Stephen said achieving the record was “the ‘icing on the cake’ of a fantastic experience and symbolic achievement in re-writing what I had thought was possible for me as a wheelchair user 13 years before.”

Alexa Bradbury, Guidant Global’s Global Director of Marketing, said:

“Just nine days before he was due to take part, Stephen was advised to withdraw after losing 75% of the grip strength in my left hand. To then complete the course in a record-breaking time is just incredible – but unsurprising to those who know him.

“Stephen brings this same determination to his job, and has been the driving force in our journey to Disability Confident Leader status – and in our recent Recruitment Industry Disability Initiative Award win. He’s an asset to the business and we’re fortunate to have him.

“Stephen is at the forefront of our diversity and inclusion strategy and is determined to break barriers and help educate others on disability inclusion best practice. He is proof that having a disability is not a barrier to achieving your personal and professional goals, whatever they may be. From all of us at Team Guidant, congratulations Stephen!”

By Jonathan Sidlin, Financial Planner and Managing Director of HSC Financial Advisers 

While everyone is concerned that they have enough money in later years to ensure a comfortable retirement, for many it is equally important to ensure that children and grandchildren can also benefit from wealth that has accrued whether from pensions, investments or excess income. In order to ensure that this is maximised, it is necessary to start planning at an early stage.

There are a number of products that have been developed to preserve and provide wealth transfer through generations. Although pensions have not historically been seen as a way to provide for the future generations this is not necessarily the case now. In the past, retirees purchased a guaranteed income for life, through an annuity, this was effectively terminated on death or perhaps the death of a spouse. Today however, there is much greater flexibility of pensions so that, through good financial planning, individuals can potentially provide for their children and, in turn, their grandchildren through their pension pot.

Gifting

Of course, one of the simplest ways to pass on your wealth is to gift it to your beneficiaries – providing this is done more than seven years before your death then there will be no inheritance tax. And even if you do die less than seven years after making the gift, as long as more than three years have passed the rate of inheritance tax will be reduced. You can also make smaller gifts at any time although there are limits as to the amount, large gifts must total no more than £3,000 but small gifts up to £250 are unlimited. Wedding gifts of up to £5,000 for your children and lesser amounts for grandchildren and others are also allowed. Regular gifts that come straight out of regular income are normally exempt, eg supporting a grandchild at university.

If you don’t have capital available to gift, it might be feasible to use an equity relief product to extract capital from your property for gifting and so reducing the size of your estate at death. 

If you are planning to make a charitable bequest, it is worth considering the proportion of your estate that it will represent. If it is at least 10% then the inheritance tax due on your remaining estate will reduce from a rate of 40% to 36%. Any charitable gifting that happens during your life is entirely free from inheritance tax and so will also reduce the size of your estate.

Insuring against tax

It is actually possible to invest in a life insurance policy that is designed to cover the cost of inheritance tax on your death. A term assurance policy might also be a good idea, they are designed to cover the inheritance tax liability on gifts you have made assuming you die within the allowed seven years.

Trust funds

There are a number of different types of trust which also work to preserve wealth through the generations, these offer slightly different advantages and need to be selected according to your specific needs. For example, if you need to continue receiving an income from capital but do not need the capital itself, then a discounted deed of trust will be the most suitable choice for you as it allows for income generated to be received by you but the capital itself will fall outside of your estate for tax purposes.

A loan trust on the other hand allows you to access the capital at any time but protects any income from inheritance tax while discretionary trusts allow assets to be put aside for children and/or grandchildren or to protect funds for a vulnerable family member so that the funds may be managed on their behalf. The trustees of discretionary trusts can determine how much beneficiaries receive from the trust and when it is given. They are a flexible solution that protect assets if circumstances change.  

Passing on a business

Business assets are generally treated differently in terms of inheritance tax and you will usually be able to pass them on without incurring inheritance tax whether done during your lifetime or after your death. In terms of land, buildings and machinery, this may well qualify for business relief at 50%. In the case of agricultural land which is part of a working farm, this is generally exempt from inheritance tax.

Planning is key

As with all things financial, planning is the key to success and taking action sooner rather than later. This is much easier if you have substantial funds so that you can start distributing your wealth at an early stage, safe in the knowledge that you no longer need that capital, but even with lower levels of wealth it is still possible to maximise the benefits that your children and grandchildren can receive. As ever, seek financial advice before taking irreversible steps. 

Disclaimer: This is information only and does not constitute advice. Pensions/investments are medium to long term plans and are not guaranteed as past performance is not necessarily a guide to future performance. The value of units can go down as well as up. Information is based on our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.

About Jonathan Sidlin, Financial Planner and Managing Director of HSC Financial Advisers 

Jonathan Sidlin is a standout financial planner whose proven track record helps his clients build wealth in order to achieve long term financial success. Jonathan is not your ordinary Financial Adviser. He believes every person should be educated about personal finance from an early age to ensure they are presented with the best opportunities in life. It is this unique combination of education and strategy that helps his clients increase their personal wealth and ensure their protection needs are met.   Jonathan provides his clients with the confidence to follow a long-term financial plan, guiding them at regular intervals with the aim of becoming financially secure. 

Jonathan is a Chartered Financial Adviser who graduated from the London Institute of Banking and Finance. His expertise covers most areas of the Financial Planning process, including Pensions and Investments, Tax Efficient Products and Estate Planning Solutions. With an increased focus on sustainability, Jonathan is working to bring more ESG investment options to his clients. 

Jonathan’s clients come from all walks of life and include all ages. Whether it’s a first-time buyer looking to purchase a home, individuals and business owners looking to grow their wealth, or a retired person wishing to draw an income and/or provide for the next generation, Jonathan has strategies for each unique situation. 

Jonathan believes that financial success is built around a basic understanding of money and the choices individuals make when it comes to their finances. Jonathan works with his clients on a personalised basis taking them on a journey to create a tailored financial plan. 

Jonathan offers uncomplicated, authentic advice and prides himself on being down to earth and jargon free. His goal is to make financial wellbeing accessible to all and enable more people to achieve long-term financial freedom.

Website: www.hscfinancial.co.uk  

Large corporations have a strong desire to grow despite the pandemic, finds a unique survey conducted by OP Financial Group, and the Nordic Institute of Business and Society (NIBS) in Finland. NIBS is a think tank founded by professors at Aalto University and led by Professor of Practice Pekka Mattila from Aalto University School of Business.

The survey focusing on Finnish large corporations reveals that despite the pandemic, there has been a sharp growth in the share of companies seeking expansion.

The share of such companies is currently at its highest in the eight-year period studied. In 2022, a third of large Finnish corporations have said they will focus on expanding and developing their operations.

This is a huge 15% increase on the 19% in the depths of the pandemic last year. This rise reflects the economic recovery and brighter outlook for companies; they have had effective buffers in place and withstood the economic turmoil well.

The researchers say that the data gathered for this survey is unique even on a global scale.

The competition for talent has also increased. Nearly 86% of large corporations report strong competition in their sectors for skilled employees and experts.

“Large corporations have realised that they are not only in competitive markets for customers and capital, but also for talent of the highest calibre and for reputation. Awareness that sustainability concerns the entire value chain has grown rapidly, and this applies to subcontracting too. Growth expectations are mainly focused on the outside world, but there is also faith in Finland as a location for production and subcontractors,” says Professor of Practice Mattila.

Difficulties in recruiting talent are also largely a long-term, structural problem which can only be relieved by investing in education and training, and easing the recruitment of international experts, concludes the researchers.

The OP’s annual survey of large corporations measured Finnish executives’ views on business and economic developments.

A total of 189 people from 119 large corporations based or operating in Finland responded to the survey, particularly CEOs, CFOs, and executive vice presidents.