Nedbank Private Wealth is an award-winning boutique private bank, with an established track record of managing investment portfolios on a discretionary basis for discerning families, trustees and high net worth individuals.

Following a strong second half to 2020, which carried on during the first half of 2021 due to the stamp duty holiday, you’d have been forgiven for believing that Q3 2021 would be quieter. Instead, the number of homes sold at £2 million or more is up 5% versus Q3 2020 and 21% higher than the 2015 to 2019 average. Prices are on the increase too, with both houses and flats recording annual increases in September. For those looking to renew a rental agreement, or search for a new place to rent, the increased demand has already led to prices rising to pre-pandemic levels given availability across prime London stock has fallen by 68% compared with the same point a year ago.
 
However, simplistic statements often mask what’s happening in the capital’s property market, as well as in the commuter belt – which has expanded as people have continued to work from home for several days a week.
 
Proviving a whistle-stop tour of what’s really been happening and what homebuyers and investors might want to consider in the coming months, David McFadzean, head of wealth management, spoke to Marcus Dixon of LonRes and Mark Francis and Jane James from London’s Surveyors and Valuers.

What's happening with London property?

The next 25 years looks set to see the greatest transfer in wealth in history play out as those born after World War II seek to hand down wealth to the next generations. However, the wealth transfer is unlikely to be as smooth as it sounds. But why, you may ask?

Mary Humphreys, senior trust manager at Nedgroup Trust is joined by Chris Hards, managing associate in the private wealth team at Ogier, for a 30 minute webinar, with additional time set aside for Q&A, in which we explore the various obstacles that may need to be overcome by those transferring the wealth and those receiving it.

We also discuss how families can manage these transfers successfully, overcoming the challenges posed by divergent issues (such as climate change) and different personalities (such as the overly entitled). And we outline the use of wealth planning and structures, as well as opportunities created by family offices and private investment companies, to help manage wealth fairly and sustainably for all concerned.

Challenges facing families during the great wealth transfer

The pandemic has left the UK with record levels of national debt and the rising level of inflation has implications for the Bank of England and the government as the cost of servicing that debt grows. And although the increase in national insurance contributions is far from popular, on both sides of the parliamentary aisle, the additional £12 billion a year the change is expected to bring is welcome, as are the significant savings from the temporary halt to the triple lock on pensions. Previous budget announcements have been preceded by a flurry of calls to change two of the UK’s capital taxes – capital gains tax and inheritance tax – but no action has been taken. So what can we expect?

John Williams, head of wealth planning at Nedbank Private Wealth, is joined by Andrew Robins, a partner in the private client team at RSM UK – a global provider of audit, tax and consulting services – to discuss the announcements from the dispatch box in Rishi Sunak’s Autumn Budget, along with the conclusions of the 2021 Spending Review. John and Andrew will seek to set out the key changes announced and detail what these mean for the individuals and families who file taxes in the UK.

What’s in the 2021 UK Autumn Budget?

Many of our clients have worked hard during their lives to grow their investments, pensions and savings so they can enjoy financial independence in retirement. But how can you make sure you will have enough to live off over a period which may span 30 to 40 years, given the many risks facing retirees? The answer lies in a dedicated financial planning and investment approach that seeks to help you understand those risks, how they can be managed and what plans you can put in place to enjoy your retirement in the lifestyle to which you’ve become accustomed. It’s a solution only available via a few wealth managers.

In a 43-minute webinar, John Williams, head of wealth planning, and Simon Prescott, senior wealth planner, explained the importance of transitioning from your time in a career, or running a company – known as the accumulation phase of life – to the time when you draw down on your assets in retirement – known as decumulation.

We also highlighted the other opportunities that the planning process should offer in terms of ensuring your withdrawals are sustainable, while also considering your plans for helping out your children and leaving a legacy.

Achieving financial success in retirement

Economic activity continues to pick up around the world but, while vaccination programmes have progressed in many countries, the lingering presence of the Delta variant of COVID-19 remains a concern, particularly in emerging markets. Inflation has spiked as the post-pandemic surge in demand and related supply chain issues have elevated prices, however, the view from central banks is that this will be transitory. The key question remains how the economic recovery will survive as the global monetary policy that has supported markets through the pandemic is gradually withdrawn.

In this webinar, Rebecca Cretney, investment counsellor, was joined by Tom Caddick, chief investment officer, as they discussed recent trends in financial markets, how these might affect investors in the coming months, and how portfolios are positioned to respond.

Our discussions focused on global dynamics and how the economies around the world are looking as we emerge from the pandemic. We considered how these changes are impacting the way we approach diversification and the management of risk in our portfolios. The conversation also touched on environmental, social and governance (ESG) issues and the way these are integrated into our investment decisions. Finally, they looked at private equity and the role it can play in a diversified portfolio.

Quarter end investment webinar: navigating the brave new world

The trust industry dates back to the early 19th century and requires a professional and thoughtful approach for these complex vehicles to be valid and useful. But have the original intentions of trusts become lost in the mists of time? Are they still fit for purpose in the modern day? 

Over a 30-minute discussion, with time set aside for Q&A, we will look to cover the basics of a trust and the benefits these vehicles bring to families looking to preserve their wealth over generations, as well as provide scenarios where there are practical applications for trusts. We will also seek to flag what other wealth structures are available – depending on the individual circumstances and financial needs – which may be more suitable for private clients.

Nedgroup Trust’s Mary Humphreys, a senior trust manager, and Marcus Prevel, a director, will also go through the typical process a client experiences when seeking to set up a trust. This includes what concerns they might raise and how the team aims to use their experience to alleviate any apprehensions, while highlighting the long-term, and sometimes unforeseen, advantages of wealth structuring.

Are trusts still worth setting up?

As lockdown restrictions continue to ease around the world and the global vaccination programme gathers pace, markets have turned their attention to life post the pandemic. However, the optimism with regard to global growth is giving way to concerns that inflation may spike for the foreseeable future, despite the assurances from the Federal Reserve.

In a 30-minute webinar, with an additional 15 minutes set aside for Q&A, David McFadzean, head of wealth management, is joined by Tom Caddick, chief investment officer, to discuss recent trends in financial markets, how these might affect investors in the coming months, and how our portfolios are positioned to respond. 

In particular, the conversation will focus on the impact inflation might have on markets should the price increases become more entrenched. We will also look to discuss the role of alternative investments in portfolios and why they are of increasing importance. The discussion will also focus on the types of alternative investments we hold and explain our view on Bitcoin.

Quarter end investment webinar: what's happening with inflation?

The impact of the pandemic, politics and professional life.

The UK residential property market has hit significant highs and lows during the last 18 months, due to the pandemic, politics and how professional life is changing, but what's should buyers and sellers be aware of? 

On the political front, the rental eviction ban for COVID-19 sufferers ceased on 31 May 2021, and notice periods and property taxation relief are being reduced. Investors and owners continue to see property prices and rental yields influenced by flexible working decisions and, while lockdowns may be easing, virus variants could continue to dominate news headlines. But there are other matters also affecting sentiment.

In a session hosted by David McFadzean, head of wealth management at Nedbank Private Wealth, we will hear from Marcus Dixon, head of research and data analysis at LonRes, and Rob Cohen, managing director of the MJ Group International. Join us for a 30 minute discussion where our experts provide an update on market news and views, and their predictions for the coming months. Extra time for Q&A has also been set aside.

Q2 London residential property market update

Family law, as with all other aspects of life, has been significantly impacted by recent events, including the COVID-19 pandemic. We discuss what those changes have been and how these are affecting our clients – both at Nedbank Private Wealth and at Stewarts – a legal team we work with and the UK’s leading litigation-only law firm. We also flag what else is on the horizon, not least the upcoming introduction of “no fault” divorce, which is expected to come into effect in Autumn 2021 for England and Wales. 

Huw Williams, Private Banker at Nedbank Private Wealth, is joined by: 
•        Richard Hogwood – Partner, Divorce and Family – Stewarts  
•        Jenny Duggan – Senior Associate, Divorce and Family – Stewarts  
 
Please sign up to watch our 30 minute webinar, with additional time set aside to answer any questions you may have on the topics we cover.

Divorce, pre-nups and pandemics – recent changes and those coming soon

The UK property market has remained strong over the past 12 months, albeit for the initial dip when house viewings could not proceed due to the pandemic, with the property tax holiday seen as the main drivers for this growth. 

Focusing in on England, we discuss what options remain available to buyers with regard to the tax breaks, when they end and what else should residential property investors  be aware of. The conversation concentrates on buyers who are not UK resident and those considering trust structures.

Mary Humphreys, senior trust manager, leads a 30 minute discussion, including time for Q&A, on these topics and more. Mary will help viewers understand the structuring options available (or not) to international clients to hold UK property.

Joining Mary is Anna Douglass, solicitor and counsel at Ferbrache & Farrell LLP. With primary responsibility for UK residential property advice for the Guernsey law firm, Anna will  evaluate the future for English residential property as an investment opportunity in the context of current market trends and the government incentives being withdrawn as we are emerging from the pandemic.

What is happening with UK property?

Even if your divorce is a relatively amicable one, couples (and their families) are often caught in a maelstrom of emotions at a time when they are having to make considerable changes to their lives. But what other aspects of life are often impacted by divorce – beyond those where decisions are forced due to the legal and financial discussions lots of couples have?  

Huw Williams, Private Banker at Nedbank Private Wealth, was joined by a panel of advisers who each have considerable experience in supporting one ‘side’, or sometimes both parties, during the divorce process. These are: 
•   Sarah Wadham – founder of Aphrodite Angels, a network of professionals providing services to divorcées
•   Vivienne Goldstein – a certified neuro-linguistic programming (NLP) trainer and accredited mediator  
•   Ian Smith – founder of Shield Associates, a comprehensive and discreet security consultancy  

Our experts were brought together by Aphrodite Angels, which has a philosophy that sets out it is extremely important for people going through these major life changes to use advisors who treat them with courtesy and respect, and guide them through the major legal and financial challenges, with professionalism and understanding. 

Our 30 minute discussion took place on 11 May, but can be watched on demand, to flag the scope of the conversations people should be having if they are going through, or have recently finalised, a divorce.

Divorce: more than financial and legal ramifications

Join us for the next in our series of fraud and cybersecurity webinars. During a 30 minute presentation, with additional time for questions, we take a look at the types of scams that fraudsters and cybercriminals are currently running. We will summarise what you should be aware of, what you can do to protect yourself, and provide tips and resources to keep you up-to-date.

Gavin Quiggan, Head of Operational Resilience and Technology Risk
Marien Schutte, Financial Crime Governance Risk Manager

Fraud and cybercrime

With the pandemic having pushed couples to spend significant amounts of time together and the law for England and Wales changing in the autumn of 2021 to allow for no-fault divorces, many predict that the percentage of couples separating is set to spike.
 
However, the view that divorces tend to be 'messy' is just one of the myths perpetuated. Yes, financial affairs can be very personal and the end of a partnership that may have lasted decades is painful, not least as the person initiating proceedings may already have mourned and moved on. However, there are key matters to consider at each stage of the divorce process, which can be beneficial to both parties.

Join John Williams, head of wealth planning, and Pippa Vick, paraplanner, as they discuss the impact of divorce on finances and the financial issues people may face before, during and after a divorce.

Managing your finances around a divorce

Stock markets began 2021 buoyantly given the late 2020 news about vaccines. And, although it’s been known for markets to price in future events up to two years in advance, we remain caught in a transition phase.

On the one hand, there are sufficient reasons to be optimistic about a sharp vaccine-led recovery. On the other, the third wave of the pandemic in Europe (for now) threatens to derail economic progress. The spectre of inflation has also spooked investors, as we saw in bond yields.

But what can investors expect in the short to medium term, while keeping their eye on their long-term goals? David McFadzean, head of wealth management, and our new chief investment officer, Tom Caddick, discussed recent trends in financial markets, how these might affect investors in the coming months and how our portfolios are positioned to respond.

Q2 investment webinar: the opportunities and threats facing investors

With UK national debt at record peacetime levels, there is significant speculation that the UK's chancellor of the exchequer, Rishi Sunak, will have to raise taxes as he sets out his first budget on 3 March 2021. And the reviews by the Office for Tax Simplification into capital gains tax and inheritance tax have pushed these taxes to the top of the list, not least given the Conservative Party's manifesto pledge in 2019 (albeit before the pandemic hit) not to raise the rate of income tax, VAT or National Insurance.

Hosted by John Williams, head of wealth planning at Nedbank Private Wealth, he is joined by Rachel de Souza from RSM UK. The firm is a global provider of audit, tax and consulting services and Rachel is a partner within its London private client team. John and Rachel will seek to set out the key changes announced the day before and flag what that means for private clients who file taxes in the UK.

Update on the 3 March 2021 UK Budget

While there has been significant press as to whether a wealth tax could help address the UK’s national debt burden, the Chancellor of the Exchequer could again turn his attention to UK residents who are not domiciled in the UK to bolster the coffers. As life has changed and legislation has become more complex, can as many still credibly say that their domicile is not the UK?
 
Whether it’s keeping sufficient years of records, conflicting statements that allow HMRC to challenge an individual’s chosen domicile or being able to back up increasingly tenuous ties to their domicile of origin, whatever future UK budgets and/or legislation lay out, the pandemic distorted the pattern of many non-dom lives in 2020 – changes that look set to continue into 2021.
 
Join John Williams, head of wealth planning at Nedbank Private Wealth, and Mike Curran, director of PwC’s Private Business and Private Client team, as they discuss both the key opportunities and traps for non-doms.

Opportunities and pitfalls for non-doms

The UK capital's residential property market is currently on somewhat of a rollercoaster ride, with activity driven by the latest headlines, as well as political and economic events.

Join us for 45 minute discussion where our experts provided an update on market news and views, and their predictions for the year ahead.

In particular, we covered the impact the latest lockdown has been having on the capital's bricks and mortar market, the most recent trends agents have been reporting, what support the March UK Budget might bring, and how this has all been translating into central London property prices.

Colin Campbell, private banker and lending specialist at Nedbank Private Wealth was joined by Marcus Dixon, head of research and data analysis at LonRes, and Rob Cohen, managing director of the MJ Group International.

2021 Q1 London Residential Property Update

Join us for our next investment webinar, which sees our chief investment officer, Tom Caddick, and Rebecca Cretney, investment counsellor, look back on the year that has been and summarise what could be the key themes for 2022.  

Looking back: What surprised us?  Which were the best calls we made?  Were there any laggards? 

Looking forward: Which are the key themes for 2022?  What risks and opportunities do we envisage the year will bring and how might this shape our portfolios?

Investment webinar: review of 2021 and our outlook for 2022

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