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Charlotte Ransom, chief executive of Netwealth, a wealth manager, says a mid-retirement MOT is a “vital” opportunity for retirees to understand their financial position in what can be a “surprisingly long” second phase of retirement.
In its third meeting of the year, the Bank of England cut interest rates by 25 basis points to 4.25% and investors are expecting more cuts over the coming months.
Gerard Lyons, chief economic strategist at Netwealth, said today’s rate cut “was expected and justified” given inflation is “likely to decelerate towards” the Bank of England’s 2pc target later this year.
Chief investment officer Iain Barnes tells MoneyWeek: “We do not aim to hold cash for clients on a long-term basis and encourage clients to invest in line with their intended risk profile. However, any ancillary, uninvested cash which is held across the Netwealth platform, either for liquidity purposes or for accounts in transition, currently receives an interest rate of 3.73% on sterling accounts.”
Risk management is always key. Fears need to be kept in context, as it is less a case of the UK becoming dependent upon China and more of diversifying, while retaining strong global ties.
Matt Conradi, deputy CEO and head of client advisory at Netwealth, said: “When advising clients, pension assets are now likely to be pro-actively considered as part of spending or gifting plans in a way that they were not previously.”
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