Part 11. Financial Security for all…join and stay in the 1%

Uncategorized Apr 23, 2019

The wealthiest 1% will soon own more than the rest of the world’s population, according to a study by anti-poverty charity Oxfam. Are you in or out of the 1%. Why you should be in? Because “Financial security tops the list of changes that would most increase happiness (39%), and is the most commonly cited obstacle to prioritizing things that would make people happier (33%).

According to a survey conducted by Life Reimagined, in association with Luntz Global, December 2014. US. If you are already in and want to stay in make sure you take possession of your assets because if not the people managing your investments have taken too much power over how that money is used and where it is invested. Often you will find it is not in your interest (no pun intended!). The amount being syphoned away is not small. “Over time, these seemingly small fees will compound and can easily consume one third of investment returns, yet a lot of people don’t believe that this problem...

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Part 10 Financial Security for all… do not give up! Just change direction.

Uncategorized Apr 23, 2019

“Financial security tops the list of changes that would most increase happiness (39%), and is the most commonly cited obstacle to prioritizing things that would make people happier (33%).”

According to a survey conducted by Life Reimagined, in association with Luntz Global, December 2014.

I recently had the delicate role of telling a very nice person member of my team that we were not renewing her employment with us. It was hard and awkward. She took it hard but not as a “tragedy”. I told her that I will help her in her initiatives if I could but will continue to try to advice her.

On the day she left she asked to see me and she gave me a present……………………..I was so touched.

Here is an email that I sent her:

“After the recent events, it is normal that you will feel disappointed and I guess your confidence level is low.
This is not about losing. It is simply accepting that things were not working out...

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Part 9. Financial security for all ….. …fixing the broken system part 2

Uncategorized Apr 23, 2019

Bob Penn, Partner Allen Overy, wrote in an article in FS Focus of January 2015, “breaking up is hard to do” that this is the most radical overhaul of UK bank regulation in over a century. The Banking Reform Act 2013 follows the recommendations of the Independent Commission on Banking (ICB) and by January 2018,legislation will require the largest UK Banks to “ring-fence” certain operations so in effect telling clients which activity carries more risk.

http://www.icaew.com/en/technical/financial-services/financial-services-faculty/fs-focus

Action is better than doing nothing after the debacle of the financial services. So let us hope more Bankers will act with more responsibility towards their clients informing them about the new measures, also where risks are and returning to the time when Bankers were trusted .

We will be wrong to think the good time is back again maybe for the Bankers but not for the end clients. So we cannot leave it to bankers and rely on...

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Part 8. Financial security for all…………fixing the broken system.

Uncategorized Apr 23, 2019
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Part 7. Financial security for all: a bean counter to the rescue!

Uncategorized Apr 23, 2019

As I witnessed many Private Bankers, Independent Asset Managers, Financial Planners move from a trusted advisor role to a sales oriented modelled on Wall Street, to make upfront gains and sell commission-based financial products, I decided to become the protector of private clients.

Since then in 2001, earning my living comfortably looking after High Net Worth Individuals, I operated in a niche that was less exciting than the world of Asset Managers, Hedge Fund Managers but I could stand by my own knowledge and experience as a “bean counter”. Many of my friends, colleagues and competitors could not find the reason for such an activity arguing that the system had in-built safety net to protect the end clients. They reckon there was no need to have a Financial Officer between the client and his asset/investment manager, whether a Private Banker or an Independent Asset or Financial Advisor. Some of the Bankers did not hide their contempt to have an Accountant sit in...

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Part 6. Financial security for all: taking control…

Uncategorized Apr 23, 2019

Once upon a time there was the real economy. Run and operated by entrepreneurs, local and international, they engaged in producing real goods and providing services. They traded locally and internationally. They were the wealth creators. Warren Buffet calls this economy “main street”.
Maybe you are one of them or you want to be one of them.

Then there is Wall Street. For years Wall Street, a world of pure finance exclusively bottom line driven continuously maximizing financial return for short term gain, has been running a small club for gullible players – like casino for the rich.

Wall Street makes money by getting the players to bet – “head Wall Street wins tail Wall Street wins”. The players thinking they are “investing” are actually caught in this game. Because of their powerful marketing power Wall Street philosophy has now developed worldwide. The whole banking system has now joined Wall Street in using the same approach.

From...

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Part 5. Financial security for all: The Birth of Plenty

Uncategorized Apr 23, 2019

Last week I posted an article about the prosperity created by the island/state of Mauritius over the last 46 years since independence.

Though described by Mark Twain as heaven on earth in 1896, prior to independence Mauritius had become “an island without a future” and “an overcrowded barracoon” accordingly to 2 Nobel Prize Winners writing separately. Now United Nations organizations is placing the Island State among middle income nations. Forbes and Bank of America are even suggesting that it will join the rich elite within the next 10 to 15 years. Mauritius ranks top in most African indices – GDP, doing business, Law and Order, democracy, least corrupt and more. The World Bank’s “Ease of Doing Business” index report list the top African countries to do business in and at the top is Mauritius followed by South Africa.

Many commentators have been asking whether the growth was by luck or not?

The Birth of Plenty: How the Prosperity...

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Part 4: Financial security for all: the best way to predict the future…

Uncategorized Apr 23, 2019

For the past 40 years I have been Managing and Controlling Wealth for Shareholders and then High Net Worth Individuals. Providing Wealth Management services to High Net Worth Individuals pays well and is a growing market.

Wealth Management is a well defined advanced investment advisory discipline that incorporates financial planning and specialist financial services. The services that fall under Wealth Management are extensive and the key objectives are to provide high net worth individuals and families with tailored services, legal resources, taxation advice, investment managers’ selection, estate and tax planning, book-keeping, 3rd party fees monitoring, concierge support and many more. The goal is to sustain and grow clients’ long-term wealth.

Private Bankers, Asset Managers, Investment Managers, Hedge Fund Managers are principally looking at the Investments of the clients. And they charge a fee for doing that.

Whereas financial planning can be helpful for individuals...

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Part 3. Financial security for all: the case of the ex-overcrowded barracoon.

Uncategorized Apr 17, 2019

From 1896 Mauritius changed from being heaven on earth to > an island without a future to > the overcrowded barracoon to > middle income and now forecast to > becoming rich. What is the truth?

I recently posted a link to an article published by Forbes.com contributed by Kenneth Rapoza who referred to an analysis by senior researcher Ehiwario Efeyini of U.S. Trust Bank of America. Mr Rapoza concluded that Mauritius was poised to move from “Middle Income to Becoming Rich”.

Let us go back in time to 1961 seven years before independence: Nobel prize-winning economist James Meade wrote about Mauritius: “It is going to be a great achievement if the country can find productive employment for its population without a serious reduction in the existing standard of living. The outlook for peaceful development is weak.”

The future looked bleak and many left to emigrate to South Africa, Australia, UK, France and Canada. Students who went for studies preferred...

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Part 2 – Financial security for all: the only truth there is!

Uncategorized Apr 17, 2019

Most of humanity is facing the same problem our ancestors faced when they left Africa looking to better their life. Maybe they left with tools or invented tools on the way or afterwards. But once they learned and started innovating then nothing could stop them. That first invention as any invention could be used for good or bad. After tool came fire and we never looked back.

Once humans decided that it was less risky to farm than to hunt, it was a question of time before Banking was invented to serve the farmers. Whilst humans had out skill other mammals in the way to hunt, the risk in hunting was still there.
As we learned and innovated, some of our intelligent ancestors must have concluded that planting crops for food was much less life threatening than competing with dangerous animals to hunt. Invest for return!

This must have been planned as they would have had to continue hunting as crops do not grow overnight. This lead to the common sense basic principle of Wealth Management...

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