News Announcements

1 February 2012: Monthly commentaries updated and added to the publications section of this website.

6 January 2012: Quarterly Product Guides updated and ready for issue.

21 November 2011: Any clients concerned about ongoing market volatility and / or worried about Greek, Italian or Spanish default should contact us as soon as possible.

10 November 2011: Cofunds experienced some technical problems on Monday 7 November.  Unfortunately, this has affected investors who would normally expect to receive their Consolidated Natural Income payment on Wednesday 9 November. It should arrive today instead.

18 October 2011: Positive Wealth Creation Ltd is sponsoring the Somerset Chamber B2B Dinner at Battleborough Grange, Brent Knoll on Thursday, 10th November 2011 at 7pm (for 7.30pm). A great way to Network with businesses across Somerset. Tickets are selling well and are available from the Somerset Chamber at £25 for Chamber members / £35 for non members. www.somerset-chamber.co.uk.

20 September 2011: The Autumn 2011 edition of our newsletter has arrived and will be sent out shortly. If you, a friend, relative or colleague would like to receive a copy at our expense, please let us know.

12 September 2011: Alex Turco has been awarded a prize for Best Paper in 2010 Chartered Insurance Institute exams for CF8 Long-Term Care Insurance in the West of England. It was presented at an award ceremony held by the Insurance Institute of Bristol (IIB) by Paul Timmins, President of the IIB in August. Alex achieved a mark of 93% in this exam, which covers all aspects of the provision of long term care including the responsibilities of the State and local authorities, Benefits, insurance products, Estate planning and legal matters.

9 September 2011: We are pleased to announce that Dan Broom has passed CII exam J06 on Investment Principles & Risk.

7 September 2011: National Savings has announced the withdrawal of all Savings Certificates products for new investors. This affects particularly the popular index linked certificate, which offered a tax-free return in excess of inflation measured by RPI.

16 June 2011: The manager of the Henderson High Yield Monthly Income and Fixed Interest Monthly Income funds, James Gledhill, has left Henderson. Responsibility for fund management has transferred to the remainder of the Henderson Fixed Interest team, lead by John Pattullo and Jenna Barnard. These managers are familiar to us from their stewardship of the Henderson Strategic Bond fund. We are considering our response to these changes. Affected investors who are concerned should contact us.

9 June 2011: The income payment from the Investec Managed Distribution fund reduced dramatically at the end of May. It transpires that previous payments had been too high and so Investec has adjusted the May payment to compensate. Investec advises that in the aggregate payments are correct and that future income should revert to more typical levels in the future, subject to market conditions. We are impressed neither by this error nor by Investec's handling of the situation.

6 April 2011: Happy New Tax Year - why wait until the end of the tax-year when new tax saving allowances are available now!

4 April 2011: Jenni is delighted to be supporting the Money Advice Service by delivering their 'Making the most of your money' seminars in the workplace. This forms part of Money Advice Service's work on helping people manage money better.

23 March 2011: Budget Headlines: 2011 GDP growth forecast reduced to 1.7%, 2012 down to 2.5%, 2013 2.9%, 2014 2.9% and 2015 2.8%. Inflation forecast to remain between 4% and 5% in 2011, reducing to 2.5% in 2012 and 2% in 2013. The CPI inflation taregt remains 2%. Projected borrowing to year end 31/3 in 2011 is £146bn, 2012 £122bn, 2013 £101bn, 2014 £70bn, 2015 £46bn and 2016 £29bn. Corporation Tax to reduce to 23% by 2015. Under 65 Personal Income Tax Allowance rises to £7415 from 6/4/11 and to £8105 on 6/4/2012. Allowances to increase by CPI from 2012.  EIS income tax relief increases to 30% from 20%. CGT Entrpreneur's relief doubles to £10 million. Non Domiciled charge increases to £50K after twelve years. Consultation on how to merge income tax and national insurance whilst the 50% rate is considered temporary. Small Business Rate Relief holiday extended to October 2012. 21 Enterprise Zones to be created. Automatic increases based on increaases in lobegvity planned to State Pension Age proposed as well as new single tier State Pension of £140 per week (this does not affect current pensioners). Mileage allowance increases to 45 pence per mile from 40 pence. Vehicle Excise Duty increases with inflation. Fuel Duty Escalator cancelled and inflation increase delayed by one year as well as 1 pence per litre duty cut. IHT rate will be reduced by 10% if more than 10% of the Estate is given to Charity. Hutton Report on Public Sector pensions accepted as basis for consultation. Air Passenger Tax increase delayed until 6/4/2012.

1 March 2011: EU ruling on gender harmonisation: We shall be considering the implication of the decision by the European Court of Justice that all insurance premiums and benefits will be unisex from 21 December 2012. As insurers grapple with a unisex risk pool, this is likely to lead in changes to annuity rates, life and health insurance rates as well as other personal insurances. Some clients will benefit, some will not. New opportunities will arise from these changes over time. As ever, your personal circumstances are the most important factor in determining a suitable course of action, not matter the constant changes in legislation.

31 January 2011: our investors holding Gartmore funds should not be concerned about the proposed acquisition of the entire share capital of Gartmore by Henderson.

13 Janaury 2011: Alex Turco has been awarded the title of 'Chartered Financial Planner' by the Chartered Insurance Institute.

3 January 2011: If you want to talk to us face to face but from the warmth of your home or office during cold winter weather we have Skype and other Messaging Software linked directly to our meeting room.

17 December 2010: Congratualtions to Alex Turco for passing AF5 Financial Planning Process. Alex has now completed his Advanced Diploma in Financial Planning and has sufficient eligible credits to apply to the Chartered Insurance Institute to be known as a 'Chartered Financial Planner'.

15 December 2010: Standard Life investors have approved the use of derivatives in many of that company's funds. Whilst this could increase returns, it comes at the certainty of higher risk and volatility. Our default course of action is to allow the managers the chance to make use of this new investment strategy. Investors who wish to leave these funds should contact us.

29 October 2010: Unitholders have agreed the previously announced changes to the investment policy of the Threadneedle Strategic Bond fund. We advised investors to vote against these changes on the grounds that the certainty of higher risk and volatility was not worth the chance of higher returns. Investors who wish to leave this fund should contact us. The changes are effective from 1 December 2010.

24 September 2010: Scottish Widows Bank is reducing the interest rate on its popular Direct Transfer Account for new business to 1.91% gross plus 0.69% first year bonus (from 2.01% + 0.69%) from 27 September 2010. This change also affects existing investors from 10 December 2010.

23 September 2010: Blackrock has changed the name of its High Income Bond fund to the Corporate Bond fund and made some changes to the fund's investment objectives. Investors need take no action in our opinion.

14 September 2010: We are experiencing problems with our FREEPOST envelopes. For reasons unknown it is taking Royal Mail up to four weeks to deliver these! If you have urgent correspondence please do not use these envelopes until we resolve this problem.

23 July 2010: Congratulations to Alex Turco for passing exam CF8 (Long Term Care) offered by the Chartered Insurance Institute.

13 July 2010: The management of the Henderson International Property fund is being transferred to Aviva Investors with effect from 2 August 2010. We have no undue concerns about this transfer.

22 June 2010: Emergency Budget in brief: VAT to 20% from 4/1/2011, CGT exemption unaltered, tax to 28% for Higher Rate Income Tax payers & Trusts. Those under 65 earning £43875 and below see personal allowance for income tax increased by £1000 from 6/4/2011. Compulsory annuitisation of pension funds at age 75 to be scrapped. State Pension to increase from 6/4/2011 by triple lock higher of 2.5% / RPI / National Average Earnings. Most other benefits to be increased by CPI not RPI except Child Benefit, which is frozen. Child Tax Credits to be reduced for middle earners. No new duties on alcohol, tobacco, fuel. Cider tax reversed. Corporation Tax 28% to 24% over next five years, small businesses from 21% to 20%. National Insurance threshold increases by £21 per week from 6/4/2011. Not joining Euro during life of parliament. High Speed 1, NATS, Student Loan Book and the Tote to be sold off with part privatisation of the Royal Mail. Public servants have 2 year pay freeze except if earn £21000 or less, when will increase by £250 pa. Budget brought back into balance 77% by cuts, most of which to follow and 23% tax rises. Borrowing forecast £149 billion 2010/11 to £20 billion 2015/16, at which point National Debt will be 67% of GDP.

18 June 2010: Congratulations to Dan Broom for passing Chartered Insurance Institute (CII) Diploma exam J05 (Pension Income Options) and to Alex Turco for passing CII Diploma exam J08 (Financial Planning Practice), which they took in April. We have updated the staff profile pages on this website.

7 May 2010: UK HUNG PARLIAMENT & ONGOING EURO/ GREEK SOVEREIGN DEBT CRISIS: A period of increased instability and volatility in shares, currencies and gilts has begun owing to the UK Hung Parliament and Greek debt issues. Short-term investors should take steps to mitigate their positions by decreasing risk and increasing deposit holdings. Medium to Long term investors, whose objectives and risk tolerances have not altered should consult us should they have any particular concerns although our standard position not to change medium to long term plans owing to short term volatility remains our default advice at the moment.

6 May 2010: Henderson has announced more changes to its funds. The Sterling Bond, Extra High Yield Bond, Fixed Interest and High Yield Bond funds all seek permission to change the investment policy to permit the wider use of derivatives. The last three funds will also change their names to include the words Monthly Income. We do not have any serious concerns about the proposals. Should investors require further information about ongoing suitability of these funds to their individual circumstances, please contact us.

23 April 2010: Henderson is writing to investors with changes to the Managed Distribution and Technology funds. We do not have any serious concerns about the proposals. Should investors require further information about ongoing suitability of these funds to their individual circumstances, please contact us.

18 January 2010: Investors with New Star ISAs are receiving circulars about a transfer to Henderson ISAs, following the acquisiton of New Star's funds by Henderson last year. We are happy for investors to accept this recommendation since it is not disadvantageous. However, this could be an appropriate opportunity to consolidate your ISA / Fund portfolio onto a Fund Platform to benefit from centralised administration. On these points please contact us should you require specific information about suitability based on your circumstances.

18 December 2009: Congratulations to Alex Turco for passing J05, Pension Income Options, an exam offered by the Chartered Insurance Institute, which he took in October.

11 December 2009: We hope you like the new look Home Page. Do have a play with the Asset TV and FTSE extra functionality!

9 December 2009: New page added to this site for Publications - found in the News section. Download our monthly commentaries directly to your computer. Please remember to ask our advice before proceeding with any course of action that might result.

6 October 2009: Extra ISA Day! The ISA allowance increases to £10200 today for over 50s, of which a maximum of £5100 can be invested into a Cash ISA. Make the most of the opportunities for tax-free interest and capital growth afforded by the ISA by contacting us today.

21 September 2009: Congratulations to Dan Broom on passing his Diploma exam, J01 on Personal Taxation.

4 September 2009: Did you know that we have Skype in case you wish to talk to us face to face, but over the internet? Drop us a line for our Skype address.

17 August 2009: We have recently become enhanced members of unbiased.co.uk, the professional advice search website. We would like to welcome any visitors to our website who have searched for an IFA in this way.

31 July 2009: We've had a new front door sign installed to reflect the fact that Positive Wealth Creation Ltd is a firm of Chartered Financial Planners.

8 July 2009: A team from Positive Wealth Creation Ltd won the Insurance Institute of Bristol's annual Treasure Hunt around Bristol on 7th July. Scoring 320 points out of 350, the team won a tie break with the question 'what is 20% of 850', which Alex answered correctly and most quickly!

6 July 2009: The internal office redecoration and reorganisation has been completed. We now have two private meeting rooms, all spruced up and ready to welcome you.

We held our 2009 Budget Opportunities Seminar on Tuesday, 28th April 2009 from 4.30pm to 6.15pm at Burnham & Berrow Golf Club. Let us know if you would like copies of the presentations.

The Chartered Insurance Institute (CII) has awarded the prestigious ‘Chartered Financial Planners' title to Positive Wealth Creation Ltd. Chartered status is an exclusive title only awarded to firms, which meet rigorous criteria relating to professionalism and capability. All Chartered Financial Planners commit to the CII's Code of Ethics & Conduct reinforcing the highest standards of professional practice in their business dealings. To date around 250 firms have achieved Chartered Financial Planners status nationally, indicating that this is a highly exclusive award reserved for the leading firms within the financial advice market.