Posted June 11th, 2009
Detailed below is Whitechurch Securities view on Keydata going into Administration.
“We were taken by surprise when we heard the news yesterday that Keydata Investment Services have gone into administration. However, after digesting the news, here is our understanding of the situation as it stands at the moment.
In all likelihood, we envisage that the administration of the products that Keydata were involved in will be moved on to another, or other, administrative companies. This means that the products themselves will continue as planned but that there may be delays in either income or maturity payments.
It is important to note that Keydata acted as providers or as administrators on structured products usually on the behalf of other third parties. They were not involved in the actual investment side of the products – this action would have been carried out by a market counterparty, e.g. HSBC. As such, any investment monies held with Keydata for market counterparty use should be held in ring-fenced accounts under a separate legal entity and not in Keydata’s own business account. Where Keydata have acted on the behalf of third parties, investment monies will be the responsibility of the third party and not Keydata.
Therefore, as any investment monies will be held in either a separate nominee company or with a third party, it is our understanding that investors will incur no financial loss due to the insolvency of Keydata Investment Services.
In the meantime, we will continue to scrutinise events and will provide you any further updates appropriately.”
Ben Willis
Head of Research
09/06/09
If you would like advice or guidance on any of the issues raised, please call 01204 663904 or email advice@themedicalifa.co.uk
Tags: Financial Planning, Investment, Keydata, Keydata Investment Services, Structured Products, Whitechurch, Whitechurch Securities | Posted in Investment Products |
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Posted June 11th, 2009
Many people and surprisingly many financial advisers guess at how much money is needed to live comfortably in retirement.
The actual answer might surprise you. Finding this out sooner rather than later enables action to be taken. A Lifetime Cash Flow Forecast could be the key.
So, how much is enough?
Firstly, what does retirement look like to you? What do you want to do in retirement that if you were unable to do it would leave you feeling disappointed. Is it holidays, golf, or visiting family? Perhaps it is the purchase of a one off item, such as a boat or holiday home.
Whatever these goals are (and they could be anything) you need to set them down first. Once these are set in place, planning on how to meet future income and capital expenditure can then be assessed.
It is vital to set out what expenditure will be and how this might change over time. Basic expenditure may not fluctuate too much over time (except by inflation) and any extra spending will often be determined by your goals and what stage of retirement you are in.
The three phases of retirement
I like to think of retirement in three main phases.
1. The Golden years – these are the years when your health is good and therefore taking the opportunity to enjoy life is vital. Income needs are correspondingly high.
2. The Conservatory years – these come later when perhaps energy levels are lower and a more sedate lifestyle is required. Income typically reduces from phase 1.
3. The Later Life years – this is the stage when health is failing and more income may be needed to provide for health and care issues. Income needs can increase.
What do you think? What I truly believe is that by factoring the changes in spending patterns over these periods provides the key to successfully meeting your goals.
Lifetime Cash Flow Forecasting
A Lifetime Cash Flow Forecast provides a snapshot of your financial health now. It will determine whether your income and capital needs are met and therefore, highlight whether your goals are realistic. From this starting point the advice process can begin to truly add value by either planning to reach your target or protecting you from ever missing your target.
If you would like more information on answering the big questions or feel that you would benefit from this approach, please call us on 01204 663904 or contact us by email on advice@themedicalifa.co.uk
Tags: Consultant, Dentist, Doctor, Financial Adviser, Health, Lifetime Cashflow Forecast, Money, Retirement | Posted in Financial Planning |
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