Should you trust finfluencers?
Financial influencers or ‘finfluencers’ are a major social media trend at the moment.
With millions of followers across platforms such as Instagram, TikTok, YouTube and elsewhere, these people purport to offer anything from small-time money tips to investing advice and financial ‘hacks.’ However the UK’s financial regulator, the Financial Conduct Authority (FCA), alongside the Advertising Standards Agency (ASA), has warned against finfluencers pushing financial products they have no authority on.
Far from helping you or your children with money, these finfluencers often recommend highly risky financial strategies and ideas that range from unregulated cryptocurrencies to straight up scams. Sarah Pritchard, executive director, Markets at the FCA comments: “We’ve seen more cases of influencers touting products that they shouldn’t be. “They are often doing this without knowledge of the rules and without understanding of the harm they could cause their followers. “We want to work with influencers so they keep on the right side of the law, as this will also help protect people from being shown scams or investments that are too risky.”
Can you trust finfluencers?
Finfluencers have become something of a global phenomenon in recent years, with millions of followers and a global reach. However, it is precisely this global reach that creates the first issues for anyone listening to what they have to say.
Top finfluencers such as Humphrey Yang, Tori Dunlap or Taylor Price have combined followings of nearly 100 million people. The first issue with these three is all are US-based. So, any information they pass on is likely not useful for anyone in the UK anyway. Also looking at their CVs, while Humphrey Yang says he’s an “ex financial adviser”, neither Dunlap nor Price appear to have any particular financial qualifications.
This phenomenon doesn’t stop with dedicated finfluencers however. Regular ‘influencers’ who routinely talk about areas such as beauty, food, travel and leisure are often paid by companies to promote products. Sometimes these can be innocuous things like face creams or clothing, but frequently people can be seen promoting financial products or investments that are wholly inappropriate. This is the nub of the campaign from the FCA which is warning against such activity.
The FCA partnered with well-known influencer Sharon Gaffka, famous for her stint on Love Island, in the campaign, who added: “When you leave a show like Love Island, you are bombarded with opportunities to promote products and work with brands, if like me, you’re new to this kind of work, it can be a little bit overwhelming. “This campaign with the FCA and ASA will hopefully make sure other influencers stay on the right side of the law and prevent them from unknowingly introducing their followers to scams or high-risk investments.”
Why financial advice matters
The allure of finfluencers is that they are easy to access and create content that is engaging – designed to capture your attention and make big claims based on spurious ideas. The reality of good financial management and long-term wealth growth is clear and concise planning and advice over many years, that takes into account different products, investment and strategies to achieve the strongest growth, income and tax efficient outcomes.
It’s essential that you speak to a financial adviser to ensure the best outcomes for your money. Conversely, if you have children who are achieving life goals such as home ownership and even saving for the future, it is important to bring them along on the journey too. This way they will have the best understanding of your plans, and how they factor in, and could benefit too.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 16th May 2023.
The World In A Week - A hike in May and go away
Written by Shane Balkham.
The world of investing has a plethora of adages by which to invest. All of which are based on shaky assumptions, but can also resonate with investors as they seem to have a semblance of truth to them. At this time of year, the adage: “Sell in May and go away” is rolled out, but few will realise that this originated in the 17th century and was about the wealthy migrating out from London in the summer months to their country estates. While out of London and without the use of a smartphone, they were unable to monitor their shares, so selling made perfect sense. Using adages in our experience is not a robust long-term investment strategy.
This year the adage could be used for the intentions of the central banks and the interest rate hiking cycle. Last week saw the Federal Reserve hike rates by 0.25% and signal the end of a continuous series of interest rate rises. The long awaited ‘pause’ has seemingly begun and attention will focus on data to see if inflation continues to fall.
The European Central Bank (ECB) also raised rates by 0.25% last week, but unlike the US, there was no signal suggesting a pause. Having started the process of hiking interest rates much later than the US and the UK, there is an argument that the ECB have much more ground to make up.
However, there is an expectation for the Bank of England to follow the Federal Reserve’s lead this week. A final hike of 0.25% is expected together with a clear signal of a pause in the hiking cycle, despite inflation having so far proved quite sticky. The meeting on Thursday also coincides with the quarterly publication of its Monetary Policy Report, which will provide further detail on the Bank’s forecasts and expectations.
This could be seen as welcome news to the markets, who have been anticipating a pause in the hiking cycle since the beginning of the year. Naturally, the medium-term view will now be dominated by expectations of when the first rate cut will arrive. However, underneath the big picture of central bank decisions, there continues to be ongoing stress in the US banking sector, and fears of economic recessions. Given the uncertainty of the short-term outlook, the need for appropriate portfolio diversification remains crucial.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 9th May 2023.
© 2023 YOU Asset Management. All rights reserved.
The World In A Week - Banking on a bailout
Written by Millan Chauhan.
Last week, we saw the third US bank seized by regulators since March with First Republic Bank being the latest casualty of higher interest rates and tighter monetary conditions. This marks the largest US banking casualty since 2008 and was driven by losses in their loan book combined with a run on their deposits. US interest rates currently sit between a target range of 4.75% and 5% and banks that have not been offering competitive enough deposit rates, in order to facilitate cheap loans, have been suffering outflows as savers transfer to money market funds paying higher rates. JP Morgan have since acquired First Republic’s deposits and a large proportion of its assets in a deal which was coordinated by the Federal Deposit Insurance Corporation. Jamie Dimon, JP Morgan CEO announced that they will not retain the First Republic brand but instead a large majority of the deposit base will move directly into their retail banking arm called Chase.
The fate of First Republic was outlined last week as they announced that $100 billion of deposits had been withdrawn in the first quarter of 2023, despite their deposit demographic being somewhat more diversified than the likes of Silicon Valley Bank and Signature Bank where deposits were largely derived from a more technology-focused client base. Under normal circumstances, JP Morgan wouldn’t be able to acquire a bank the size of First Republic for competition reasons, however these limits were waived in a bid to reduce further market stress and minimise losses. Some policymakers have criticised this acquisition made by JP Morgan since it has made the largest US bank even bigger and reduced competition further.
Elsewhere, companies continue to report their first quarter earnings and we saw the big US technology companies report last week whereby Artificial Intelligence (AI) was the big topic of conversation. Most of the technology names have implemented cost-cutting policies with thousands of layoffs being made, however they are investing billions as they aim to become market leaders in AI which they believe to enhance their long-term profitability. Meta, Amazon, Google and Microsoft stated the word “AI” a combined 168 times on their earnings call last week.
UK Government borrowing figures in the 2022-23 financial year, published on Tuesday by the Office for National Statistics, came in at £13.2bn less than forecast by the Office of Budget Responsibility, although, overall public borrowing rose compared to 2021-2022. This was mainly due to lower-than-expected public spending, despite the cost-of-living subsidies that have been provided over the year by the government. The lower-than-expected borrowing has given the Chancellor some breathing room and could give way to tax cuts later in the year in his Autumn Statement.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 2nd May 2023.
© 2023 YOU Asset Management. All rights reserved.
The World In A Week - Encouraging signs?
Written by Ilaria Massei.
Last week, equity markets ended mixed with the MSCI All Country World Index +0.1% (in GBP terms), following a week with a relatively light economic calendar. In the US, the weekly jobless claims’ report brought signs of growing weakness in the labour market, but investors appeared divided on whether to treat this as good news. Some viewed this release as a sign that the Federal Reserve might stop hiking rates whereas others viewed it as a further step towards an upcoming recession. Weekly jobless claims rose a bit more than expected and also continuing jobless claims, which measure unemployed people who have been receiving unemployment benefits for a prolonged period, rose well above market expectations, reaching its highest level since November 2021.
In Europe, we are starting to see signs of divergence within policymakers with regards to the decision of hiking rates. The minutes of the March meeting of the European Central bank (ECB) showed policymakers were split. The majority voted to hike rates, however, some members said they would prefer a pause until calm returns in financial markets.
In the UK, the annual UK consumer price growth in March slowed by less than expected to 10.1% from 10.4% in February, driven by surging food and drink prices. Data from the Office for National Statistics (ONS) indicated that wage growth also showed few signs of moderating in the three months through February. At the last meeting, the 0.25% interest rate rise was passed with seven in favour and two who wanted to hold rates still. However, these continued inflationary forces could lead the Bank of England to raise interest rates once more in its May meeting.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 24th April 2023.
© 2023 YOU Asset Management. All rights reserved.
Energy market update: what’s happening to household bills
Households have come through Winter and things could be looking up for energy bills. The threat of power cuts failed to materialise, but many households would have felt the pinch as monthly direct debits soared to cover rising prices.
Now as we look towards Summer, the energy market and the Government’s response to the crisis is taking on a new dimension.
Ofgem price cap
The main measure to manage price stability for household energy bills has been in place for several years already – a price cap set by the energy market regulator Ofgem. It currently stands at £3,280, having taken effect from 1 April. This is down from the previous cap of £4,279. It is important to note however that bills will vary and these figures are an average used by Ofgem, and the cap actually applies to the kilowatt hours (kWh) used by a home, plus standing charges.
While it is good news that the price cap has been lowered, in practice it is still much higher than previous cap levels – thanks to high energy costs caused by excess post-pandemic demand and the conflict in Ukraine.
Energy Price Guarantee
Although it’s important to be aware of the price cap level, it is currently moot thanks to the Government’s additional Energy Price Guarantee (EPG), which was created to protect households from soaring costs last Winter.
Initially, the Government set the EPG at £2,500 per household. This was calculated like the price cap, keeping the cost per kWh lower than the market price – effectively subsidising household bills. The EPG was set to rise to £3,000 in April, but at the Spring Budget Chancellor Jeremy Hunt confirmed it would be maintained at the same initial level until June this year. The Government has also been paying a £400 rebate to all households, which should have been arriving monthly in the bill payer’s bank account over six months in payments of around £67.
Energy price outlook
The Government’s EPG is set to end in June. However, it looks increasingly likely that Ofgem will set a new price cap at this point below the EPG level anyway – rendering it effectively unnecessary. This is chiefly thanks to easing of the energy price shock and the market normalising, as it adapts to the new environment after Russia’s invasion of Ukraine.
In terms of actual prices to expect, this is subject to change, but current estimates from Cornwall Insight, an energy market analysis firm, suggest a new price cap of £2,024 in July this year, and £2,074 from October. This is of course subject to change as the market develops, but hopefully the direction of travel will continue downward for now, particularly if the global economy shows signs of weakness in the months ahead.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 20th April 2023.
The ins and outs of insurance protection
Insurance protection is an often-overlooked aspect of good wealth management. While we’re able to control our proactive wealth growth through saving, tax planning and other wealth tools, personal protection cover looks after what we can’t control. It is a critical aspect of an overall portfolio and should be a key consideration for anyone looking to ensure their loved ones are taken care of should the worst happen.
What do we mean when we talk about “protection?”
Insurance protection comes in a few different formats. This isn’t travel, home or car insurance which are all typical everyday insurance policies we buy through comparison sites. These kinds of policies underwrite you, your earnings and your future longevity.
What kinds of policies are there?
Life Insurance
Life insurance is perhaps the best-known protection policy but can vary in a few ways. Life insurance pays out a lump sum to a nominated person or persons should you die unexpectedly. The lump sum can vary depending on the policy you obtain, but it is common for cheaper policies to only cover outstanding major debts such as a mortgage.
You can opt for the level of pay-out you want; however, this will be reflected in the monthly payments you have to make. It is also possible to opt for a policy that pays regular payments rather than a lump sum. The proceeds of a life insurance pay-out are tax-free, but if your partner were to receive a large cash lump sum, inheritance tax could be a future consideration for them.
Income protection
Income protection is designed to pay out if you fall ill or suffer an injury which leaves you unable to work. Income protection typically pays out regular payments that, assuming you have the correct level of cover, should take care of your essential living costs should you be unable to work. This is particularly important if you don’t have savings to fall back on or have regular payments such as a mortgage that you would not be able to pay, were you to be unable to work due to ill health.
Income protection can pay out continuously until retirement if you become unable to work over the long term. Payments are tax free and multiple claims can often be made.
Critical illness
Critical illness insurance is a policy designed to pay if you fall sick with a major illness such as cancer, stroke or heart attack, or if you suffer a life-changing injury that prevents you from being able to work. However, the key difference with income protection is that critical illness cover only covers a list of illnesses specified in the policy, typically the most common kinds of serious illnesses.
The benefit of critical illness insurance is that it is generally cheaper than income protection, which is a broader policy. You will receive a tax-free lump sum pay out should you fall ill with one of the covered conditions, and partial pay outs can generally be claimed if you fall ill with a less serious condition. Some plans cover children in your policy too.
How much cover do I need?
The level of cover you need should be whatever you feel comfortable would take care of your needs, while meeting an acceptable monthly premium cost. As a rule of thumb, start with any major payments such as the mortgage and calculate from there how much you think you would need were you unable to work, or how much your partner or children might need to ensure they can continue to live in the family home.
Life insurance is really important if you have dependents, be they a partner or children. However, if your partner could cover the mortgage without your income and you don’t have dependent children, it might not be a necessary policy. It is also important to check with your workplace whether you have some kind of death in service benefit in place. This can sometimes negate the need for, or reduce the cover required for your policy.
What affects protection costs?
The costs of protection come down to your personal circumstances. In the first instance, the level of cover you require, and the longevity of that cover, will determine the cost of the policy premiums. Beyond that, a series of other factors matter too. Insurers will assess you based on your age, weight, pre-existing health conditions and your family medical history. They will also take into account other lifestyle factors such as whether you engage in extreme or dangerous sports, whether you work in a dangerous job or if you smoke. All of these can increase your ultimate premium levels.
An insurer will consider your marital status, how many dependents you have, your living costs and debts before suggesting any policy level. This can be very tricky to assess. If you would like to talk about your cover options or anything else related to your long-term wealth journey, don’t hesitate to get in touch.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 20th April 2023.
Faster State pension age rise paused: what it means for you
The Government has abandoned plans to bring forward the increase in the State Pension age, at least for the time being.
Claims surfaced in January that the Government was seeking to bring forward the State Pension age increase to 2035, leaving people aged 54 and under with an extra year to wait before receiving the valuable benefits. This was largely down to money-saving pressures from the Treasury as it looked to steady the Government’s long-term finances. However, now this would appear to no longer be necessary.
The Government has kicked a final decision on this into the long grass and it is not expected to happen until after the next General Election in 2024, as it is seen as a vote-losing decision if taken. Work and pensions secretary Mel Stride confirmed the pause to MPs, commenting: “Given the level of uncertainty about the data on life expectancy, labour markets, the public finances, and the significance of these decisions on the lives of millions of people, I am mindful a different decision might be appropriate once these factors are clearer.”
Current plans
Under current plans, the current State Pension age of 66 is set to rise to 67 between 2026 and 2028. It will then rise to 68 between 2044 and 2046. The latter change will affect anyone born after April 1977. A report published last year by Conservative peer Lady Neville-Rolfe aimed to ensure no one spent more than a third of their lives in retirement. The report recommended bringing forward the State Pension age increase to 68 by several years to 2041.
However, the Government is still reviewing actuarial data around life expectancy. A review by the Government into its retirement system funding found that life expectancy was not increasing as fast as expected, leaving the State Pension funding in a better position. Major events such as the pandemic and various crises in the health and care system appear to have clouded the picture on life expectancy for Brits somewhat. If indeed life expectancy isn’t increasing, or is even reversing, then the age changes may no longer be necessary at all.
The State Pension was created after the Second World War when life expectancy for average working adults was much lower than currently. This is why, in recent decades, the Government has been forced to undergo drastic changes to the rules and age boundaries, including equalising the retirement age for both men and women.
The State Pension has undergone a 10.1% uplift this year which means those in receipt of the new full State Pension will receive £10,600 a year. While this is a small amount of money, it still forms an essential, consistent part of retiree incomes, especially in later life.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 20th April 2023.
The World In A Week - Biden and the UK economy both revisit old ground
Written by Chris Ayton.
While President Joe Biden enjoyed himself revisiting his heritage in Ireland, equity markets were also in a good mood with the MSCI All Country World Index +1.2% over the week. The UK equity market was even stronger, rising +1.9%. With incremental interest rate rises still expected, fixed income securities were generally more subdued as the Bloomberg Global Aggregate Index dropped -0.6% in GBP hedged terms over the week, although high yield bonds performed considerably better.
UK GDP growth data was released that showed the strike-impacted economy flatlining over February, but an upward revision to January’s growth figure means the size of the UK economy has finally surpassed where it was in February 2020, prior to the Covid pandemic. Sterling has also continued to be robust against the US Dollar, hitting a 10-month high of $1.2546 during the week, a level more than 20% above where it sat in the nadir of September last year.
In the US, better than expected Q1 earnings results from Citigroup, JP Morgan, and Wells Fargo eased some lingering concerns about the recent banking turmoil. Despite some signs of a softening labour market, US consumer sentiment also surprised on the upside, reigniting expectations of a further rate hike from the Federal Reserve in May.
China was a rare weak spot for equities, with MSCI China dropping -0.4% over the week. This was despite data showing export growth had surged 15% in March, driven by increasing sales of electric vehicles and their components as well as a surge in trade with Russia. With exports still a key component of China’s economy, the data provided some renewed hope that China can achieve the Government’s 5% GDP growth target for 2023.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 17th April 2023.
© 2023 YOU Asset Management. All rights reserved.
The World In A Week - A shock to the system
Written by Shane Balkham.
One of the key economic metrics for determining the state of the economy that central banks monitor is employment. We know that both the Federal Reserve in the US, as well as the Bank of England, would like to see a weakening of employment, as this should in turn have a disinflationary effect on the overall economy. When employment is strong, it can create upward pressure on wages, and increase consumer demand.
Last week we had two data releases for US employment. The JOLTS (Job Openings and Labor Turnover Survey) showed that the number of official job vacancies in the US had dropped below 10 million for the first time since May 2021. The ratio for the number of jobs available compared to the number of people seeking jobs had reached more than 2x at some points last year; the latest measure has this ratio down to 1.7x. Wage growth has also slowed; on a year-by-year basis, wages have increased 4.2%, the lowest reading since the summer of 2021.
Another measure of the labour market in the US also showed jobs growth had slowed during March. Non-farm payroll data showed 236,000 jobs were added in March, slightly weaker than the expected 239,000.
Employment data is a lagging indicator and subject to revisions. The number of jobs recorded by non-farm payroll in February was originally recorded as 311,000 before being upwardly revised to 326,000, while in January the initial number of jobs added was 504,000 before being adjusted downwards to 472,000. Whilst still elevated, the numbers are trending downwards, which is important for those making decisions about the future of interest rates.
The signs of a gradual weakening in employment does suggest that inflationary pressures are easing in the US. However, whether this is sufficient for the Federal Reserve to pause its rate hiking cycle at its next meeting in May is unclear. The extent of the fallout from the banking sector turmoil has not yet been quantified, as the market is anticipating tighter lending standards and a slowdown in economic activity. Jerome Powell, Chairman of the Federal Reserve, has been quoted as saying that a tightening in financial conditions would be equivalent to another rate hike.
There are three weeks until the Federal Reserve Committee and Bank of England Committee meet to set interest rates. Whether the decisions are to hike or to pause, it does seem we are close to the peak of the interest rate hiking cycles.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 11th April 2023.
© 2023 YOU Asset Management. All rights reserved.
The World In A Week - Record breakers
Written by Chris Ayton.
As expected, the Bank of England (BoE) hiked interest rates by 0.25% to 4.5% last week, in the process warning that inflation will not fall as fast as expected over the next 12 months. This was a record twelfth rate rise in a row. The BoE also noted that it appreciated that only around a third of the impact from the previous rises had been felt by the UK economy, with 1.4 million people due to come off fixed rate mortgages this year, nearly 60% of which were fixed at interest rates below 2%. While this may bring hope to some that this was signalling a pause in further increases, the BoE warned that it continued to monitor indicators of persistent inflationary pressures and commented “If there were to be evidence of more persistent pressures, then further tightening in monetary policy would be required.”
More positively, the Bank significantly upgraded its forecast for UK GDP Growth, expecting 0.25% growth this year followed by 0.75% in 2024 and 2025. This was the largest upwards revision to growth expectations on record and contrasts sharply with predictions late last year that the UK was heading for the longest recession in 50 years. This was followed by confirmation from the Office of National Statistics on Friday that the UK economy had grown 0.1% in the first quarter, the same as observed in the previous quarter.
News in the US was dominated by internal fighting over the extension of the debt ceiling. Having reached the maximum it is legally allowed to borrow, the U.S. government require an extension to that limit in very short order to be able to pay its upcoming debt obligations, to avoid a destabilising default, and prevent the financial chaos that would undoubtedly ensue. Previously, these challenges have been resolved at the twenty third hour but, in the meantime, this is likely to impact market sentiment.
Less well reported was the positive news that the top U.S. national security adviser, Jake Sullivan, met with China’s top diplomat, Wang Yi, in Vienna in an attempt to calm relations between the two superpowers. Talks were said to be ’substantive and constructive’. The souring of relations, exacerbated by the Chinese spy balloon drama in February, has undoubtedly been a drag on China’s equity market performance in 2023.
Any opinions stated are honestly held but are not guaranteed and should not be relied upon.
The information contained in this document is not to be regarded as an offer to buy or sell, or the solicitation of any offer to buy or sell, any investments or products.
The content of this document is for information only. It is advisable that you discuss your personal financial circumstances with a financial adviser before undertaking any investments.
All the data contained in the communication is believed to be reliable but may be inaccurate or incomplete. Unless otherwise specified all information is produced as of 15th May 2023.
© 2023 YOU Asset Management. All rights reserved.