Nationals round-up: Interest rates are on the agenda this week while clients may also be taking an interest in income protection, private banking and cars.
Investing in cars
Property, shares and bonds may be traditional elements of portfolio, but could clients soon be demanding exposure to cars? The Observer reported on the IGA Automobile fund, which will buy up coveted vehicles such as the Aston Martin DB4GT and the Ferrari GTO. With Pink Floyd drummer Nick Mason and McLaren F1 designer Gordon Murray on its advisory board, IGA is confident it can raise $150m and is aiming to deliver annual returns of 15%.
It's that time of the month again when economists start predicting what the Bank of England's Monetary Policy Committee will do and various interested parties make their cases for base rate changes. With departing hawk Andrew Sentence set to once again call for a rate rise, the Telegraph reported on governor Mervyn King's comments that the problem of high debt levels would simply be exacerbated by higher interest rates. Poor growth figures mean the majority of the committee are likely to agree with him.
Although it may be seen as the preserve of the super-wealthy, some clients may begin asking about private banking opportunities for them. The Mail on Sunday reported on smaller banks such as Whiteaway Laidlaw Bank and Duncan Lawrie, which aim to give a better service to their customers and are not necessarily out of reach to ‘ordinary' people. With the same FSCS coverage as their larger counterparts, they trade on strong reputations and many weathered the financial crisis better than some of the better-known institutions.
While the ongoing PPI scandal may have put some people off looking at insurance for their finances, the Independent on Sunday looked at some of the alternatives. It said income protection can provide more flexibility than PPI, while also noting mortgage payment protection insurance has been less controversial than plain PPI. Above all, it stresses the importance of seeking independent advice when looking at any policies.
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