Ilkley leads the way in the digital high street revolution with the launch of its new gift card

 ILKLEY has become one of the first towns in the county to have its own digital and physical gift card.

The new Ilkley Town Centre Gift Card is available to buy online as either a physical or digital card, and can be spent with over 50 businesses in the town, including shops, restaurants and services. A sales point will be added in the coming months.

Driven by Ilkley Business Improvement District, the new gift card is part of the BID’s mission to make local shopping easy, cater for how customers shop now and in the future, and help to position Ilkley for a digitally enabled future.

Physical gift cards are sent to the recipient by post with an optional gift message. Digital gift cards are sent to the recipient as a text or email, the recipient can then add the balance of their Ilkley Town Centre Gift Card to their digital wallet and make their purchase using their phone, either online or in-store.

Helen Rhodes BID Manager at Ilkley BID said the introduction of the new gift card will enhance the town’s attractiveness for locals and visitors.

She said: “Gift cards are incredibly popular, with 40% of people purchasing at least one gift card in the past three years. Over 50% of people used gift cards with a new business in 2021, and people typically spend around 65% more when they redeem their gift card. Now, with the Ilkley Town Centre Gift Card, we have a single gift card that can be used right across the town, giving people a local, fun and easy way to shop local. But as well as locals, the Ilkley Town Centre Gift Card can be used by visitors, and by local employers to reward and incentivise their staff. The Ilkley Town Centre Gift Card is a gateway to all that Ilkley has to offer.

“People have the choice between the physical gift card that can be handed over as payment and a digital gift card that can be loaded onto a digital wallet for payment. 27.5% of gift card buyers in 2021 said that they had converted to digital gift cards, vs. 24.2% in 2020. This choice makes the Ilkley Town Centre Gift Card suitable for a wide range of customers.”

A business who has signed up to receive the Ilkley Town Centre Gift Card as payment is Attic Womenswear. Sarah Lyles is the founder of Attic Womenswear, and said: “We can’t wait to see people embracing local life by using the Ilkley Town Centre Gift Card, whether that’s meeting friends for a coffee or meal, or enjoying shopping in one of our many independent boutiques. It’s more thoughtful than a cash gift as it shows that the purchaser has a real pride in our local offering and it’s a great way to support our town. It may encourage people to shop at places they’ve never been before and we’re looking forward to welcoming new customers to our independent boutique in Crescent Courtyard.”

Richard Grafton Interiors. Left is Victoria Varney and Right is Fran Temperton. Photo@ Heidi Marfitt Photography

Another business who is set to accept the new Ilkley Town Centre Gift Card as payment is Richard Grafton Interiors. Fran Temperton of Richard Grafton Interiors said the gift card can encourage people to think local first.

She said: “The Gift Card is a welcome initiative to support our town’s economy. The recent Sunday Times article recognising Ilkley as the best place to live in the UK highlights the town’s energetic community spirit, and by actively buying an Ilkley Town Centre Gift Card, it urges people to think local first evoking this loyalty to our community businesses. It’s a powerful way of unlocking spending potential and keeping that money in Ilkley so the more businesses sign up, the better the experience will be. We’re looking forward to accepting the Gift Card at Richard Grafton Interiors with the recipient able to choose from our wide portfolio of services and products.”The Ilkley Town Centre Gift Card can also be spent with services, including salons and hairdressers. Maria Carrera is the Director of Beau Monde Perfumery and Beauty Salon said the new gift card is a welcome initiative.

She said: “By giving an Ilkley Town Centre Gift Card to friends and family, it encourages them to explore everything that Ilkley has to offer, like the vibrant independent retailers and service providers. We’re delighted to be part of the scheme and at Beau Monde the gift card can be used on a fantastic range of treatments or luxury perfumes and products, or both, making it the perfect present. The pandemic was hard for our businesses so this is a great way to encourage people to shop local and bolster the economy.”

The initiative has been funded following a grant from Bradford Council through the Additional Restrictions Grant scheme. The Ilkley Town Centre Gift Card is part of the award winning Town & City Gift Cards programme from fintech Miconex and joins 7 other programmes in Yorkshire: Barnsley, Bradford, Halifax, Harrogate, Scarborough, Sheffield and York.

Colin Munro is the managing director of Miconex: “Ilkley’s new digital and physical gift card gives customers ultimate choice and convenience. Two thirds of people are looking to make gift cards more usable by storing them in their mobile wallets. By 2023, a mobile phone will be the main payment method for 12 million UK customers. This isn’t just about how customers shop today, but how they’ll shop tomorrow.”

Original post: 

Ilkley leads the way in the digital high street revolution with the launch of its new gift card

The UK remains committed to investing in UN conflict prevention and peace building

 Statement by Ambassador James Kariuki at the UN High-Level Meeting on Peacebuilding Financing

Mr. President, Excellencies, colleagues,

“To take effective collective measures for the prevention and removal of threats to peace” – this was the commitment we made in the first sentence of the first article of the United Nations Charter.

But today, two billion people live in countries affected by conflict. Russia’s war of choice in Ukraine has increased that number and wrought untold suffering on the people of a peaceful country.

The United Kingdom stands with the overwhelming majority of countries around the world in deploring Russia’s aggression and calling on President Putin to cease his senseless war.

Mr. President, few conflicts today are so unequivocal. More often, they are driven by a mixture of political, economic, social, and environmental factors. But the vast majority are preventable. And prevention is where we need to focus if we are to live up to the commitments of the Charter.

This means investing in peacebuilding. This is why we are here today. Because instability jeopardizes development and puts lives and livelihoods at risk.

The United Kingdom has been steadfast in its support – political and financial – for United Nations peacebuilding. We have contributed over 230 million dollars to the Peacebuilding Fund since its inception. But the Fund is still sustained by only a handful of major donors. Others need to step up.

As co-Chair of the Group of Friends of the PBF, the United Kingdom is deeply committed to the Fund. But the Fund is not a silver bullet. National governments and international development partners all need to play their part. This includes the UN development system.

The United Kingdom is also working to advance prospects for innovative financing for peacebuilding. And to deepen strategic partnerships with the international financial institutions. In addition to our multilateral contributions, our deep bilateral partnerships focus on durable peace and inclusive development, rather than quick fixes that risk saddling countries with unsustainable debt.

Today, the world can quite literally no longer afford the cost of conflict. The current global economic climate is straining both stability itself and the resources available to support that stability. This is a dangerous spiral. We need to explore all possible solutions. And we need to increase impact across all resource strands.

The United Kingdom remains fully committed to maximizing investment in UN conflict prevention and peacebuilding.

Thank you

originally posted on : 

The UK remains committed to investing in UN conflict prevention and peace building

UK parliament invites Twitter-lovin’ Musk to talk ‘authenticating all humans’

 The British parliament has invited Elon Musk to “discuss the future of Twitter” because we live in deeply wild times.

If Musk agrees to speak to parliamentarians on the Digital, Culture, Media and Sport (DCMS) committee — even virtually — he will be going further than Facebook founder Mark Zuckerberg who (in)famously snubbed repeat calls to testify before it in the wake of the Cambridge Analytica data abuse scandal back in 2018.

Unlike Zuckerberg, who was seeking to evade scrutiny of how exactly Facebook came to allow a firm some of its own staff had dubbed “sketchy” suck up data on millions of users without their knowledge or consent, Musk has no obvious reason to avoid a chinwag with a few of the U.K. parliament’s ‘honorable members’ — besides his general distain for government institutions.

He may also (currently) be too busy trolling owners of NFTs to notice or care about an “invitation to speak” to parliamentarians of a country on the other side of the Atlantic.

But he probably should take up the invite — because it’s a sign of things to come if he succeeds in his mission to own Twitter.

As we reported earlier, there is a growing patchwork of international regulations that already and/or will soon apply to the speech platform. So if Musk become Twitter’s owner, he will be on the hook for decisions that could result in the company being fined substantially for failing to comply with regional/per market rules on content such platforms can legally carry.

Rules that could even see local execs doing prison time for compliance failures in the case of the U.K.’s incoming Online Safety legislation.

In its letter of invitation to Musk which the DCMS committee made public today, it writes that it’s especially interested in his proposal to “authenticate all humans.”

“My committee has noted your proposed acquisition of Twitter and we are interested in the developments you propose,” writes committee chair and MP Julian Knight. “In particular, your intention to roll out verification for all users echoes our calls on the U.K. government as part of proposed legislation, which we hope will restore the U.K. public’s trust in digital platforms.”

Knight goes on to note a 2020 report by the committee on misinformation during the COVID-19 “infodemic” which called for “greater transparency of bots and automated and spam accounts,” as well as referencing its more recent report on the Online Safety Bill — which “discussed ways to balance civil liberties like freedom of expression with the need to tackle pernicious, pervasive online child sexual exploitation and abuse,” as he puts it.

“I therefore wish to take this opportunity to invite you to speak before our committee and discuss your proposals in more depth,” Knight goes on, before suggesting Musk use the British parliament’s public platform to troll his critics (er … careful what you wish for!) — as he writes: “I know you have expressed your wish that critics remain on Twitter and this may present an opportunity to address any critiques in public.”

Critics of the U.K. government’s Online Safety Bill, meanwhile, have long been concerned the government could be leaning toward limiting social media anonymity — in a claimed bid to quash trolling and abuse on online platforms.

However the government unveiled a compromise approach earlier this year that would require the largest platforms to provide users with tools to limit how much (potentially) harmful but technically legal content they get exposed to by offering ways for them to verify their identity and control who can interact with them on the service (e.g., by selecting an option to only receive DMs and replies from verified accounts).

“The onus will be on the platforms to decide which methods to use to fulfil this identity verification duty but they must give users the option to opt in or out,” DCMS wrote in February of the partial authentication addition to what critics already dub a ‘kitchen sink’ bill.

If the government holds to that, the U.K. will avoid a controversial blanket verification requirement mandate for platforms like Twitter — akin to Musk’s “authenticating all humans” idea — although the Online Safety Bill is still undergoing parliamentary scrutiny so there could be further amendments before it becomes law. (And the DCMS committee, at least, appears keen on moar authentication.)

A lot could still happen to change the detail of the incoming legislation. But it’s strange to think that new ownership at a major platform like Twitter could reset the social media speech dial in an even more radical direction than that proposed by the U.K. government — i.e., if Musk really means to force all Twitter account holders through identity verification.

If he does intend that, it could mean the worst of all worlds: An ill-thought-through speech chilling intervention by Musk, which fails to value privacy nor understand the relative risks for users of being forced to trust a third party to (at best) safeguard their identity, combined with the growing mass of restrictions being applied to speech platforms by states and political institutions around the world, some (technically) democratic, others (totally) autocratic, which are tending to take a narrower view on what’s legal to express online.

Originally posted on : UK parliament invites Twitter-lovin’ Musk to talk ‘authenticating all humans’

‘Embarrassed to be British’: Brexit study reveals impact on UK citizens in EU

 Exclusive: Survey of Britons on continent shows ‘deep transformations’, shame and disappointment

The first major study since Brexit of UK citizens living in the EU has revealed its profound impact on their lives, with many expressing serious concerns over their loss of free movement and voting rights – and a very different perception of Britain.

The survey, of 1,328 British nationals across the continent, showed that if “the public narrative suggests Brexit is done and dusted, it has brought deep transformations to the lives of British citizens in the EU and EEA”, the study’s co-lead, Michaela Benson, said.

“The long tail of Brexit is evident in its continuing impacts both on the way they live their lives, and in its lasting significance for their sense of identity and belonging,” said Benson, a sociology professor at Lancaster University.

The survey, conducted between December 2021 and January 2022, a year after the end of the Brexit transition period, and part of a wider project by Lancaster and Birmingham universities, found 59% of respondents had lived in their country of residence for at least five years and most intended to stay.

But many were angered by their loss of free movement, meaning they can no longer move within the EU for work, or retire to another EU country, and especially worried about being unable to return to the UK with non-British family members in future.

Asked whether their past or future migration plans had been affected by Brexit, 27% of respondents said it had affected them a great deal, and 14% a lot. “Where does one even start?” was the response of one British citizen living in Belgium. “Loss of rights like freedom of movement around the EU and to the UK. With a wife who is an EU citizen, I had to decide whether to move to the relevant EU country or stay in the UK. Family now cannot move back to Britain. Uncertainty.”

Another said: “I moved to France in 2020 in order to protect my right to live and work in France post-Brexit. My migration is 100% a result of Brexit.”

Brexit, and the British government’s handling of the Covid pandemic, strongly affected 80% of respondents’ feelings towards the UK, with responses including “deep shame”, “disappointment”, “a shit show”, “embarrassed to be British”, “shambolic”, and “like watching a house on fire”.

Just over 30% still felt very or extremely emotionally attached to the UK, compared with 75% who said they felt a very or extreme emotional attachment to the EU, and 59% who felt the same in relation to their country of residence.

“For me, one of the most interesting things the survey reveals is this sense of disappointment, shame and anguish over Brexit and the pandemic – and a really quite pronounced expression of European identity,” Benson said.

About two-thirds had changed their legal status since 2016, acquiring residency or citizenship. But nearly half did not have the same status – and therefore the same migration and settlement rights – as some or all of their close family members.

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This was a major or significant concern for a large majority of respondents, who said it was affecting their own and their children’s work, career and education, or would do so in the future.

“My wife is a Russian citizen,” said one respondent in Italy. “Her right to live and work depend upon my status under the withdrawal agreement. She fears a potential move to another EU country as her residency rights are totally dependent upon mine.”

Those who felt they may want or need to move back to the UK at some stage felt particularly affected, since non-British partners and other family members coming with them would now be subject to UK domestic immigration controls.

“I have a house in England,” said one respondent, who has lived in the Netherlands for 10 years. “I was going to retire there. It’s now being sold. My wife is Dutch. I do not think she could even relocate back to the UK – despite joint ownership of a house, having lived there for 15 years, being fluent in English and having two dual-nationality kids.”

The loss of EU voting rights was also a big concern, with 46% saying they could no longer vote in European elections or, in most cases, local elections in their country of residence. Roughly 42% were also unable to vote in the UK because they had lived abroad for more than 15 years, although this is expected to change.

… we have a small favour to ask. Millions are turning to the Guardian for open, independent, quality news every day, and readers in 180 countries around the world now support us financially.

We believe everyone deserves access to information that’s grounded in science and truth, and analysis rooted in authority and integrity. That’s why we made a different choice: to keep our reporting open for all readers, regardless of where they live or what they can afford to pay. This means more people can be better informed, united, and inspired to take meaningful action.

In these perilous times, a truth-seeking global news organisation like the Guardian is essential. We have no shareholders or billionaire owner, meaning our journalism is free from commercial and political influence – this makes us different. When it’s never been more important, our independence allows us to fearlessly investigate, challenge and expose those in power.

Originally posted on: ‘Embarrassed to be British’: Brexit study reveals impact on UK citizens in EU

SmoothSale is the UK’s Leading Cash House Buyer

 SmoothSale is the UK’s leading cash house buyer and they have the funds to buy your home today. If you’re selling your home and have experienced a sale falling through you will know how stressful the situation can be. SmoothSale can help by eliminating these problems and help to ensure a smooth and quick house sale. Visit their website to find out more.

FOR IMMEDIATE RELEASE

United Kingdom, 26 April 2022 — Whether you’re moving to a different city, find yourself in financial difficulties or are in the middle of a divorce, they’ve got you at Smooth Sale and are willing to offer you a cash payment for your house to help you through the process. Instead of waiting for “potential” buyers, they will do all the work for you. What sets them apart from other estate agents is that you can sell your house online, and their service is fully managed: they do all the hard work for you. Furthermore, because they buy your property directly from you using their own cash funds, you won’t need to worry about a buyer pulling out or a chain-breaking. And the best thing is: they buy any house, in any condition, anywhere in the UK.

SmoothSale – it’s all in the name, it’s the best way to sell a house online. They provide their customers with a delightfully smooth sales process with their cash house buyer service. You may think they are just like other online estate agents, but the truth is, they do things differently. They pride themselves on a transparent and flexible process, and because they buy houses for cash day in and day out, they are best placed to help you sell your house fast – and we all know time is the most precious currency!

There are only three simple steps:

Fill in their online form, request a callback, or ring 0800 368 8952, and one of their friendly team of property experts will get in touch within 24 hours (although usually much quicker) to take further details. They can then provide you with a cash offer over the phone and in writing. You’re under no pressure to accept the offer; take your time.

If you give them the green light, they can begin the next steps of your sale. They will run a basic legal check whilst you complete some simple paperwork and return it to them. They will also instruct a solicitor for you free of charge. Next, a qualified valuation company will visit the property. They will pick and instruct two local estate agents to value the property – SmoothSale will cover the cost. They review the paperwork and valuations for us to then confirm the offer.

They will have a final check with you – they want to make sure you’re 100% happy! If yes, they exchange contracts, and you pick the completion date you want to receive the cash for your property. Once the completion date arrives, you will receive the funds and hand over the keys to them to complete another smooth sale.

Why choose them? Their average sale duration is 12 days, around £9547 on average has been saved in costs, and over 150 properties have been bought in cash.

If it’s time to sell your house privately, visit smoothsale.co.uk and learn more about their top-quality services.

 

Contact Info:

Name: Rob Harrison
Organization: SmoothSale
Address: 12 Lower Brunswick St, Leeds LS2 7PU
Phone: 0800 368 8952
Website: https://www.smoothsale.co.uk/

 

Originally posted On: https://syndication.cloud/smoothsale-is-the-uks-leading-cash-house-buyer/

Twitch Makes Gift Cards Available in UK, Canada, And Australia

 Twitch gift cards have been available in the US for some time, and now the streaming platform makes it so other countries can purchase and use them.

Twitch is undoubtedly the head honcho of the streaming world and is often the first choice when it comes to creating online gaming content. With huge Twitch streamers such as Asmongold pulling in millions of users and the 2020 lockdowns leading to a rise in people visiting the site and broadcasting themselves, the likes of YouTube and Facebook are trailing behind this mammoth platform.

Twitch gift cards have been available to US users for some time now, allowing those in possession of one to reward their favorite streamers by donating Twitch bits to channels or gifting subscriptions to other users. Now gift cards have become available in other parts of the world. According to a recent blog post on the Twitch website, those who use the site in the UK, Canada, and Australia can now purchase gift cards, which were made available on Amazon two days ago. There's no indication of whether they will be made available in even more countries, at the time of writing.

For those who are unaware, Twitch gift cards can be used on the site in the same way as other company gift cards that are often purchased for birthdays, holidays, or other events. In this case, it's possible to buy a digital or physical Twitch gift card with either a pre-determined or custom amount of money. It goes without saying that those who wish to purchase a gift card for someone will need to make sure that the recipient has their own Twitch account.

With a series of controversial Twitch streamer bans last year and the ongoing struggle against hate raids that have been aimed at people from the LGBTQ+ community, many feel the site could be doing a better job of making the platform a safe place to be. However, it doesn't seem to have hurt the site too much, as Twitch continues to be the number one place for like-minded people to watch channels or start broadcasting themselves.

Original post: Twitch Makes Gift Cards Available in UK, Canada, And Australia

TOP 5 UK Fully Funded Scholarships in 2022 list

 

Here's a list for study scholarships in the UK in 2022:

1- Bristol University Scholarships

2- Glaxosmithkline Health Leaders Scholarships

3- Mo Ibrahim Scholarship - University Of Birmingham

4- Sussex Graduate Scholarship

5- Queen Mary University Deep Mind Scholarship

For the full list of all funded scholarships in the UK in 2022 Click HERE

You Can Get a £250 Primark Gift Card Today!

 

Primark offers a chance to win  £250 gift card for its loyal customers. 

The customer will have to answer a few questions in order to enter the withdrawal.

All details are found in the official website link 

The offer is valid for one week .

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Here are some academically confounding facts about the University of Hull to follow your dream career

 The Institution of Hull is a top-50 public research university in the United Kingdom. University College Hull was founded in 1927 and is now a part of the University of Hull. The university was granted the right to offer its own degrees to pupils under the Royal Charter of 1954. As a result, it became Yorkshire’s third university and England’s fourteenth university. It is now regarded as one of the greatest research and educational institutions in the world. The university’s campus is located in a residential neighborhood in England’s port city of Kingston upon Hull. Westfield Court, The Courtyard, and Taylor Court are the University’s three principal accommodations, which provide on-campus housing for students. A variety of cafeterias, restaurants, a nightclub, a book shop, a career service, an advising center, and recreational facilities, including a new sports hall and gym, are also available on campus.

The Queen’s Award for Technological Achievement was also given to the university. 62 percent of their research was assessed to be globally good in the 2014 national Research Excellence Framework (REF). The University is regarded as one of the best educational institutions in the United Kingdom. They provide full-time, distance, and online education, making it accessible to all. Many of their programs include professional and employability skills courses to help you to follow your dream career. At Hull, you may learn from academics at the forefront of their professions and be a part of a flourishing teaching and research community. Hull was awarded a silver medal in 2018 Teaching Excellence Framework, which recognizes excellence in teaching and learning in UK universities and colleges, and 97.9% of its international students find jobs or continue their studies within six months of graduation (HESA 2018).

 

Social justice, environmental technology, and maritime history are among the university’s research specialties. Their contributions to healthcare, 3D visualization, and nanotechnology are also well-known. They are possibly most recognized for creating liquid-crystal technology in terms of research. The University was also awarded the Queen’s Award for Technological Achievement .62 percent of their research was assessed to be globally good in the 2014 national Research Excellence Framework (REF).

 

The academic organization of the university is divided into four faculties that offer undergraduate, postgraduate, and doctoral degrees. Courses in education, social sciences, and the arts are available through the Faculty of Arts, Culture, and Education. The Faculty of Health Sciences offers degree programs in medicine, life sciences, and social work. The Faculty of Science and Engineering offers programs in applied and environmental sciences, technology, and mathematics. Business management, finance, accounting, marketing, international relations, and law are all offered under the Faculty of Business, Law, and Politics. The institution has over 15,000 students, including international students from over 100 countries. With a workforce of around 1,000 people. On its campus, the University of Hull offers many more undergraduates, graduate, and post-graduate courses across approximately 100 academic departments. Accounting, Human Geography, International Business, and Law are all popular degrees at the University of Hull. The MBA program at the University of Hull is designed to help operational experts advance their careers while serving full-time in vibrant and engaging video conferencing and weekend meet-ups. The Faculty of Health Sciences offers degree programs in medicine, life sciences, and social work. The Faculty of Science and Engineering offers programs in environmental sciences, technology, and mathematics.

The University of Hull is dedicated to delivering world-class facilities and an ideal living and learning environment for our students, which is why they are now undergoing a £300 million initiative to significantly upgrade its buildings and facilities. Westfield Court is now the ideal home away from home for students, thanks to a £130 million renovation in their luxurious apartment complex. The state-of-the-art Allam Medical Building, which is part of a £28 million health complex, is motivating the next generation of healthcare heroes. Middleton Hall was also transformed into one of the top-performing venues and theatres in the region for £9.5 million.

 

The university wants its students to achieve their greatest potential, therefore they provide a variety of resources to help them succeed. Each student is assigned a Personal Supervisor with whom they will meet throughout the year. Personal Supervisors provide academic supervision and are a student’s initial point of contact for feedback and direction. Hull University Library also provides a Skills Team to assist students in developing academic and digital skills to improve their study and research abilities. The team assists students with skills such as general studying, writing, referencing, resource discovery, analysis, presentation, and ICT through bookable appointments, group sessions, and online resources. Hull’s Student Services staff also offers guidance on topics like health and well-being, visas, and immigration, ensuring that students get the most out of their time at the institution.

 

Many famous graduates from the institution include leaders in academics, politics, science, sports, theatre, and media. Ahmet Muhtar Kent (former Coca-Cola CEO), Professor Sarah Gilbert (Oxford Professor of Vaccinology), Anthony Minghella (British film director), Jeremy Darroch (Group Chief Executive, Sky Plc), Ana Brnabi? (Prime Minister of Serbia), and Tom Watson MP is among the university’s prominent graduates (Former Deputy Leader of the Labour Party).

 

So there are more reasons than ever to select the University of  Hull, from friendly academics to a gorgeous campus and excellent facilities. With so many opportunities, studying at the University of Hull will undoubtedly assist you in following your dream career.

Originally Posted On: https://iquanti.com

Investment Strategies for 2022 in the UK

 

Originally Posted On: https://consilium-ifa.co.uk/investment-strategies-for-2022/

 

We’re all aware of the current crisis in Europe and the war between Russia and Ukraine. The first two months of 2022 have been very difficult from an investing perspective. January, we faced and continue to face inflationary pressures, and in February, the war in Europe commenced.

Many of our clients have inquired about the current issues and our perspective on investment strategies in 2022.

In reality, it is impossible to guess how investment markets will perform not just in 2022 but also every year. The picture below shows the variation of returns year by year for the major investment markets. As you can see, each market will perform differently each year, so it is difficult, if not impossible, to predict. For this reason, holding a diversified portfolio of assets does two things. Firstly, it spreads your risk and also reduces the volatility of your investment or pension portfolio.

Even with all the current problems, we still believe the same tried and tested investment principles should be followed and adhered to.  We understand the concerns clients might have and the initial reaction clients might have when it comes to times of uncertainty. The principles are:

1. Use a long term investment strategy – Ideally, investment portfolios should be kept for a minimum of 7 years. Short term fluctuations in equity and bond markets have less of an impact the longer you invest.
2. Portfolio diversification – Having a diversified portfolio of different assets reduces the volatility of a portfolio. For example, if you invested in a portfolio of purely Russian companies several years ago, you would not be able to trade the portfolio due to the current crisis, and you would have suffered significant losses. A global portfolio would have seen losses since the start of the year, but nowhere near as much.
3. Stay invested and try to ignore investment noise – With 24 media coverage of world events, it’s easy to get distracted from the long-term principles of investing. It’s important to ride out any short-term fluctuations in investment values.
4. Be tax efficient – Use tax allowances and tax planning such as ISA and CGT annual allowances.
5. Be aware of the latest fads and trends regarding investing – Over the years, myths and trends seem to rise to the surface and detract from tried and tested methods.

 

Over the years, clients have also enquired about many other types of investments. All have their advantages and disadvantages. Here are just a few aspects of investing that clients have inquired about over the last few years.

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Is gold a good investment?

Investing in gold has traditionally been viewed as an effective way to diversify a portfolio. The general opinion is that buying gold is a good hedge against inflation and is, therefore, an important investment strategy. In difficult economic times, people turn to gold rather than other investment strategies. Therefore, many investors have made a small investment into gold, whether through an Exchange Traded Fund (ETF), a regular fund or by purchasing physical gold. However, do the figures back up gold’s reputation, and should you invest in gold?

 

As with anything, there are arguments for and against making a gold investment. There is evidence to suggest that it does act as a hedge against falling equity markets. Between 2006 and 2012, when the financial crash took place, gold provided significant returns on investment. This demonstrates that money-flows into gold increase as investors show concern over other asset classes. Since gold is a finite resource, it is considered a reliable store of value because there can only be so much supply. Therefore, while it may not grow significantly, it is unlikely to experience large amounts of volatility compared to stock markets.

 

However, compared with equities over a longer period, the returns from gold do not fare so well. The graph below compares the price of gold, silver, S&P 500 and Dow Jones over the last ten years. This clearly shows that returns from the equity markets have been significantly higher since 2012 than those of gold and silver. Overall, gold has seen almost no growth, whereas the S&P 500 index has grown 300%. Furthermore, there is the added logistical issue of holding physical gold. Storing the gold safely can be difficult and stress-inducing. The other problem with physical gold is that you cannot hold it within a tax wrapper, so you are liable to tax on investment income, arising when your gold increases in value.

(Source: longtermtrends.net)

On balance, it is clear that gold has its place in the world of investment strategies but should not be used on its own as a source of investment returns. Holding a small amount as part of a diversified portfolio is sensible due to its qualities during economic shocks.

Buy to let property

Buy to let property can be a worthwhile investment, especially if you want to invest long-term.  However, there are several important points to consider.

When you purchase a UK buy to let property, stamp duty is currently 3% higher in the UK. You will also incur costs for the purchase on top of stamp duty.

Property is classed as an illiquid asset and not easily saleable. If you need to sell a property quickly, you might have to reduce the price to sell it quicker. Also, there is likely to be costs associated with the sale that will impact the eventual return on the asset.

Although property prices have increased in value over the years, there is no guarantee this will continue in the future. This is not an issue if you intend to hold the property for a long time, for example, ten years or more.

• Stagnant rental yields – If the property’s value increases, the rental yield as a percentage will fall unless you increase the rent you receive. However, it might not always be possible to increase the rental return.
• Void periods – Unless you have a long-term tenant, then it is likely that you will experience periods when the property is vacant. This will impact the overall return.
• The hassle factors – Some tenants will be fine, but others can be a pain in the backside. Problems can include late payers, awkward tenants who phone you at inconvenient times for work and repairs, and tenants who treat the property badly. Nonpayers that you have to evict. Whilst these are problems you might be able to deal with, the hassle becomes more of a problem as you get older, especially into retirement.
• Maintenance costs – Annual repair and insurance, testing and fees to property management companies reduce the overall returns you receive as an investor.
• Disposal costs – The highest disposal cost is usually capital gains tax. CGT is only payable on the asset’s sale, so if you intend to hold property and not sell it, then it’s not so much of an issue. However, the longer you hold property subject to CGT, the bigger the tax problem’s potential becomes. The reluctance to sell a property and incur a sizeable tax bill is not attractive. If you gift the property to your children, it is possible to “rollover” and defer the capital gains tax, but it doesn’t solve the issue.
• Rental income is taxable – Any rent you receive is taxed as income. The amount of tax you might pay depends on your total income. This could be up to 45% of the rental income. Although you can offset certain expenses against the rental income with the aim of reducing your overall liability.

 

Property can be an attractive investment to hold, but again we would recommend to our clients that it is part of an overall investment portfolio rather than a major holding.

Investing in Bitcoin

What is Bitcoin?

Bitcoin is a digital currency that was set up in 2009. It was the first cryptocurrency in existence and has grown to have a market cap of over $1 trillion. Despite having no tangible value, the popularity of Bitcoin has risen exponentially since its inception. Many regard Bitcoin as akin to a digital version of gold due to its finite supply, market demand and cost of production. Bitcoin is mined, similar to gold, but using vastly complex algorithms. The energy required from a computer to mine a Bitcoin is significant, and the supply is restricted by coding that was setup before Bitcoin was launched. This is programmed so that the supply of new Bitcoins is halved roughly every four years.

 

In recent years, attention around Bitcoin has grown due to its extreme volatility. Thrill-seeking investors have poured money into Bitcoin, hoping to see life-changing gains, but many have lost out due to Bitcoin’s tendency to plummet in value suddenly. Due to various factors, there has been a rise in DIY Investors, particularly since the Coronavirus Pandemic. With interest rates low and equity markets struggling, young investors in particular have turned to alternative investments, Bitcoin being one of them.

What are the dangers of investing in Bitcoin?

There can be no denying that Bitcoin has performed well since starting in 2009, but many experts believe this is a bubble waiting to burst. This is why most countries, including the UK, do not regulate the trading of Bitcoins. Without regulation, investors risk losing all of the money they invest and are not covered by the Financial Services Compensation Scheme. Should trading platforms collapse, there is no fund available for investors to get their money back. The lack of regulation from the Financial Conduct Authority is also a signal of the significant risks involved, and they send a strong message that caution should be exercised when speculative assets such as Bitcoin are considered for investment.

 

Secondly, the volatility in the price of Bitcoin is unprecedented and leaves investors seriously exposed. One way of demonstrating this is that the volatility value for Bitcoin over the last 12 months was 81.87. To put this into context, the volatility for a fund of world equities was 8.55, meaning the price of Bitcoin has fluctuated on average almost ten times more than the equities fund. Most investors would feel that investing in 100% equity is too much risk, but these figures suggest that investing in Bitcoin takes 10x the level of risk!

 

Furthermore, Bitcoin is prone to sudden crashes in value. Most significantly was the crash in 2017-18 following a short-term explosion in price.  The below chart shows how the price fell from $19,363 on 19th December 2017 to $6,848 on 31st March 2018. This was a drop of 64.6% in the space of 3 months!

 

Another reason to be wary of Bitcoin is the number of scams related to this asset. Due to the high level of inexperienced investors, many scammers are looking to hunt easy prey. With promises of life-changing returns, they lure people in, and thousands have lost their hard-earned savings. Since Bitcoin is not a regulated product, there is no chance of retrieving the money through compensation. The general lesson is that if it appears to be too good to be true, it usually is!

Should I invest in Bitcoin?

As outlined in the sections above, many risks are investing in Bitcoin. It is a speculative asset with no tangible value, and most experts are still scratching their heads, wondering where the use case is for this digital currency. We would not recommend investing in Bitcoin or other cryptocurrencies for those reasons. If you decide to invest, ensure you do sufficient research on the risks beforehand and are fully prepared to lose 100% of the money invested. Only time will tell whether Bitcoin has a place in our financial system for the long term, but for now, the risk that it will become worthless is too great.

Peer to Peer lending

Peer to Peer Lending (P2P) is where a savings platform attracts investors, usually with a higher rate of interest, when compared to the major banks or building societies. These accounts are not like traditional savings accounts as the returns are not guaranteed, and the Financial Services Compensation Scheme does not usually cover you. P2P lending aims to match savers who are willing to lend money with individuals and companies looking to borrow. The advantages to savers are the higher interest rate that is payable and borrowers a rate of interest that is more competitive than the banks.

 

The P2P platform essentially cuts out the middlemen and receives its profit via levied fees. Although borrowers are checked for creditworthiness, there is no guarantee they will maintain and repay the debt in the future. Any bad debts are shared amongst the savers. Essentially P2P is investing rather than saving.  Although P2P might seem attractive and could, in certain circumstances, be appropriate, there is a limit in terms of how much new retail investors can put directly into P2P lending. The Financial Conduct Authority has recommended a maximum of 10% of investible assets. If you are a professional investor or using the services of financial advisers, this limit can be increased.

Trying to time the market

It can be a very tempting idea for new investors or even experienced investors to attempt to outthink the market and time when you buy and sell. Looking back over time and seeing price fluctuations can lead to thoughts similar to “imagine if I bought in this dip and then sold here at the top”. This is all very well in theory and far easier in hindsight. Timing your decisions in real life is near impossible, and that is why no investor, not even the most experienced professionals, have successfully timed the market consistently. Of course, there is always the odd success story, but whether that is down to luck or skill is a different debate.

 

So why is timing the market so difficult to achieve yet tempting to try? Firstly, we are all human. As humans, we like to convince ourselves that something will happen in the way we expect, particularly if we have read the same opinion online or had a friend confirm our suspicions. We also have emotions, which dictate our decisions more often than they should. Therefore, trying to put emotional feelings such as greed, doubt and fear aside and invest purely in facts and evidence is not straightforward. Money triggers stronger emotions than most other aspects of life, and investing is all about money.

 

The raw statistical probability also supports the idea that timing the market is hard to do. A successful investing move involves two correct decisions. One is buying at the right time, and the other is selling at the right time. Putting any rationality aside, there is a 50% chance of getting each decision right. This means that the chance of getting both decisions right is only 25%. That is before even considering that markets love to follow the path of most pain.

 

A recent example that shows how difficult it can be to time the markets is the Covid induced crash of 2020. In March 2020, markets plummeted by more than a third and by May 2020, there were no reasons to be positive. Thousands of people were dying every day worldwide, and most of the population were in lockdown. Logic would dictate that the markets will continue to fall, and some investors will have thought they are wise to sell on the way down and then buy at the bottom. Perhaps the bottom would arrive once Covid was under control and vaccines were being rolled out? That is one of the biggest problems – how do you know when the markets have fallen as much as they can? Of course, the markets followed the path of most pain and recovered far earlier than anyone expected, and at some rate too. By June 2020, most markets had bounced back to the levels seen at the start of the year and subsequently continued to rise. Those investors who had the clever idea of selling and buying back later missed out on all that growth, as they were waiting for ‘the bottom’.

 

In summary, there are many reasons why it is not wise to time the market. Even if you can separate logic and emotion, more often than not, the logic and evidence will not lead to correct decisions. The recommended strategy is an idea called pound cost averaging. This involves buying at regular intervals no matter the price and takes out any emotion or decision making from the process. Adopting this strategy means that you benefit from lower prices and will also buy during peaks, but overall you perform better because, as the saying goes – “the important thing is time in the market, not timing the market”!

How to prepare for a market crash

Although we never like to consider the possibility, it is inevitable that sometimes the stock market will fall. It is never clear when or why it will happen, but the next crash is always just around the corner. These events are usually known as black swan events. They usually come out of the blue when people least expect them. Although you cannot predict or prepare for these events, accepting them as part of the overall investing cycle will help somewhat.

A market crash will come.

The first stage of preparing for a market crash is to accept that it will come. There is a common misconception among inexperienced investors that the stock market will simply grow in value forever and that losing money isn’t an option. This is called recency bias, as investors expect the future to reflect past increases in the value of their investments. History tells us this is not the case. Sometimes it could be a significant world event that leads to such a crash. Examples of these include the 9/11 terrorist attacks in 2001 and the Covid pandemic. On other occasions, there are more complex economic reasons for it. The most recent example of this is the financial crisis around 2008, which began because banks were running out of money due to various factors. Market crashes are part of the investing process and should not be feared, leading nicely to the next point.

Stock markets always recover.

Knowing that the markets will recover is almost as important as accepting it will happen. Normally, they recover faster than one might expect. Every market crash in history has been turned around, no matter how big the dip. Take the crash in 2020 as an example, when the Covid pandemic hit and stock markets plummeted. Between 12th February and 23rd March, the US Dow Jones Index lost 37% of its value. The fall was so dramatic that the Government closed the stock markets for five days as an attempt at damage limitation. Investors sat back as their life savings disappeared with every passing day.

 

However, in April 2020, the recovery began. Despite large unemployment numbers and eye-watering debt levels, the markets began to turn around. By November 2020, the Dow Jones surpassed its February level and broke the record for the highest it has ever been. Similar themes were seen across the other major global economies. The lesson here is that the markets will eventually recover no matter how uncertain a situation appears.  Below is the chart for the Dow Jones throughout 2020, reflecting how quickly things can change.

 

(Dow Jones Index price during 2020 – source: Investopedia)

Do not panic sell

Following that is the fact that you have not made a loss until you sell your investments. This means that when the market has crashed, and you are ‘down’ by 20%, you have not lost that value because it is only a reflection of the current state IF you sold your investment. The worst thing you can do is panic sell during a market crash. This is easier said than done because human instinct tells us that we should cut our losses and run away when things are bad. That does not apply to stocks and is one of the worst investment strategies you could take. Going back to the previous point that markets always recover – this tells us that selling when it is low will only mean we need to buy back again once they have gone up. The table below reflects how this investment strategy would have fared in 2020 compared to holding on and waiting for the recovery.

 

Assume two investors held £10,000 in the Dow Jones Index at the start of 2020:

As the table shows, holding on during the crash meant that the investor finished the year in profit, whereas the investor who panicked and sold during the dip still had a loss by the end of the year. The main reason why the market always bounces back is that the central banks and the Governments have many tools that they can use to trigger a market recovery. Examples include changing interest rates, public borrowing and providing financial aid to people or businesses.

Hold a diversified portfolio.

Now we have covered ways to prepare yourself for the next market crash mentally, but there are ways you can prepare your investments too. Having a diversified portfolio means investing across a range of asset classes, geographic regions, and industries to spread your risk. Whilst investments such as stocks are often highly sensitive to poor economic conditions, other asset classes such as bonds are more stable in these times.

 

Generally, asset classes can be split into growth assets and defensive assets. Growth assets, such as stocks tend to increase significantly in value over the long term. The downside is that they are highly volatile along the way. On the other hand, defensive assets would see modest growth over the long term but take a slow and steady route to get there. Examples of these include cash and bonds.

 

Therefore, a portfolio of 100% growth assets would suffer most during a market crash, but this can be managed by holding an element of defensive assets. Getting the right allocation of assets is difficult and depends on your situation and attitude to risk. Seeking investment advice can help you to gain an understanding of your recommended asset allocation. Not only that, but professional investment managers are highly trained and experienced in deciding which shares to buy and which assets can maximise performance.

 

To demonstrate this, we will go back to the Covid market crash from 2020. The graph below compares the performance in 2020 of a portfolio holding 100% equity with a portfolio holding 50% equity and 50% bonds. As you can see, the red line of the 50/50 portfolio does fall in March and April, but not nearly as much as the green line of the 100% equity portfolio. Reducing the severity of the crash can significantly ease the anxiety and concern that you feel during the most uncertain times, as well as the potential financial loss.

Regularly review your investments.

There are several reasons why it is vitally important to review your investments at least once a year. The first reason is that investing in line with your attitude to risk means that when the inevitable market crash does happen, you can be safe in the knowledge that you are not taking more risk than you feel comfortable with. Part of the investment advice process measures attitude to risk, and a significant portion of that is understanding how you would feel should your investments fall in value. This should be revisited regularly because an investor’s attitude to risk can change quickly depending on life events, personal situations and economic conditions. In addition to attitude to risk, there is also the capacity for risk, which is equally as important. If the money you have invested in supplying you with income and therefore critical to maintaining your standard of living, you should be holding mostly defensive assets.

 

The second reason to regularly review your investments is portfolio drift. Portfolio drift refers to your investments becoming out of balance when some parts perform better or worse than others. Over time, this leads to you taking far more risks than you think you are and more than you are comfortable with. Therefore, portfolios should be rebalanced at least once a year so that the mix of growth assets and defensive assets is a match for your attitude to risk.

 

This example demonstrates the effects of portfolio drift:

Assume you have invested £100,000 into a portfolio holding 60% equity and 40% bonds. This matches your attitude to risk, and you are comfortable with the level of volatility you may experience.

However, your equity holdings are growing faster over the years than your bonds. Assume your equities achieve 8% growth per year, and the bonds only 3%. Your split of assets will be as follows:

 

Year 0

Total = £100,000

Equity = £60,000 = 60%

Bonds = £40,000 = 40%

 

End of year 5

Total = £134,531

Equity = £88,161 = 66%

Bonds = £46,371 = 34%

 

End of year 10

Total = £183,292

Equity = £129,535 = 71%

Bonds = £53,757 = 29%

 

By the end of year 10, you are holding 71% equity and therefore taking far more risk than you initially wanted to take. Furthermore, we generally become more risk-averse as we get older. Portfolio drift slowly increases the risk you are taking over time whilst your attitude to risk is becoming more cautious.

Annual rebalancing of your portfolio can avoid this and ensure you remain invested in line with your updated attitude to risk. Alternatively, you can use a discretionary fund manager who rebalances your portfolio more regularly to maintain your risk profile.

Summary

Remember, investing is a long-term strategy. Try to ignore the day-to-day information that can affect the values of your investments. Whilst we might be concerned, it’s worth remembering the following strategies

1. Hold a diversified portfolio
2. Control the risk within your portfolio
3. Don’t try and time the market
4. Investing is a long term strategy
5. Control the overall cost of investing
6. Rebalance and review your investments regularly
7. Make the most of tax allowances and strategies
8. Avoid the latest investment trends such as gold, commodities and bitcoin
9. Don’t panic sell
10. Markets will recover

 

We have extensive experience when it comes to investment and pension advice. If you would like to discuss your existing or new investments, don’t hesitate to contact us to arrange an initial discussion.