The Link Between Personal Development and Success – in Business and in Life

The legendary entrepreneur and motivational speaker Jim Rohn said it best: Your level of success will rarely exceed your level of personal development. That’s true whether you’re talking about your life, your career or (if you’re an entrepreneur) your business.

  • There are six key components to engaging in personal development.
  • Make personal development a true priority by tackling it as soon as you wake up.
  • Don’t overlook tried-and-true methods to improve yourself – you don’t need the latest flashy technique in order to achieve results.

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Personal Development

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

A Formula for Thoughtful Decision-Making in a Family Business

Conflict has sunk more than a few family businesses over time. To avoid it as much as possible – and navigate it when it inevitably rears its head – owners of family businesses need to adopt a thoughtful, calculated approach to decision-making.

  • Conflict among family members can sink a business – especially when children clash with Mom or Dad.
  • Values and economics must be considered and balanced when families make choices involving their business.
  • Pro formas – formal financial statements – should be created for each venture within a family business.

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formula for decision making in a family business

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

How Long is Long-Term?

For many investors – particularly those in retirement – the question ‘how long is long-term?’ could also be translated as ‘I’m getting on a bit, so should I still be investing in the stock market?’.  When it comes to systematic investing – that is to say, capturing specific market risks in a disciplined and rules based manner – a subsidiary question might also be ‘should I still own value and small cap stocks, as their excess returns, relative to the market, can take some time to come through?’.   

Even at 80, when investors may begin to ask themselves the question ‘how long is long-term’ they should still consider 20 years to be a sensible horizon.  After all, according to a useful little calculator provided by the Office for National Statistics, today, an 80-year-old woman has an average life expectancy of 90, a 1-in-4 chance of reaching 94 and 1-in-10 chance of getting to 98.  Consider the following:

  • As an investor in equities, you have around a 1-in-4 to 1-in-3 chance that you will suffer a loss in any one year. Yet at a 10-year horizon a 60 equity /40 bond ‘balanced’ portfolio has a better than 1-in-20 chance.
  • For long-term investors, cash is an extremely dangerous asset class, particularly when viewed after the effects on inflation, as it should be.  It is worth noting that over the 10 years since the Credit Crisis those placing their assets in UK cash have lost over 20% of their purchasing power. 
  • Portfolios tilted towards value and smaller company stocks exhibit worst-case outcomes materially better than un-tilted portfolios at 10-year horizons and beyond.  This helps answer the question whether an investor who is 80 should include value and smaller company stocks in any equity allocation they hold. They probably should.
  • Investors with horizons longer than 10 years – even those simply seeking to maintain purchasing power – should own a meaningful level of equities in their portfolio.
  • Cash and bonds alone are unsuitable for most longer-term investors. 

Answering the question

On balance, ‘long term’ should be defined as 10 to 15 years minimum.  Above 15 years, the chances of a negative purchasing power outcome are low, but the risk still exists!  To be prudent, 15 years might be considered as the lower end of ‘long term’, which is still within the investment horizon of most investors, including those in their 80s.  We hope that helps answer the question.

Other notes and risk warnings

Use of Morningstar Direct data

Morningstar Direct © 2019. All rights reserved. Use of this content requires expert knowledge. It is to be used by specialist institutions only. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied, adapted or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information, except where such damages or losses cannot be limited or excluded by law in your jurisdiction. Past financial performance is no guarantee of future results.’

Risk warnings

This article is distributed for educational purposes only and must not be considered to be investment advice or an offer of any security for sale. The reference to any products is made only to make educational points and must, in no circumstances, be deemed to be any form of product recommendation.

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. 

It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

Three Money Mistakes the Super Rich Don’t Make

The self-made Super Rich – those with a net worth of $500 million or more – aren’t immune to making mistakes with their wealth. But we find that they do tend to avoid certain crucial errors that might otherwise impact their bottom lines and financial futures.

  • Be crystal clear about what you want your wealth to accomplish – and don’t lose sight of those goals.
  • Avoid financial advisors who don’t have what it takes to help you – or worse, who seek to actively harm your financial future.
  • Engage in regular financial checkups – and get a second opinion whenever you feel uncertain.

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financial mistakes

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

Why it Pays to ‘Stay at Home’ for Overseas Holiday Home Insurance

When you’re looking to insure your overseas holiday home, it can be advantageous to look for insurance at home first. Richard Howell covers the disadvantages and advantages of insurance from overseas and at home. For example, having your insurance provider at home can ease communication in the event of a claim.

Holiday Home Insurance

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Whether you’re already enjoying your escape to the sun, snow, beach or lakes or are in the process of acquiring a stylish second home, it’s important to get the right overseas holiday home insurance in place.

It’s not uncommon for second home owners to use a local provider when insuring an overseas property. In most cases, they do this because they think it’s the best option. Unfortunately, that’s not usually the case.

In my experience, many overseas homeowners are often unaware that a UK insurer can be used to arrange adequate levels of cover.

After all, insurance jargon can only be compounded when it’s written in Spanish, French or German. There’s no need to add this level of complexity or confusing detail.

If the worst should happen, and you need to make a claim, negotiating fluently with a claims examiner or loss adjuster in their local language could be extremely challenging.  

At Nowell & Richards, we would advocate that there’s a more simplistic approach to arranging holiday home insurance under a UK policy under-pinned by our guidance and expertise.  

As a specialist broker of buildings and contents insurance for prestigious homes, we can protect second homes which are located throughout Europe and often on a global basis.

Buy holiday home insurance tailored by Nowell & Richards and you’ll benefit from:

  • All documents being worded in English
  • No inoccupancy conditions
  • Comprehensive protection
  • Public liability insurance for guests, staff and visitors
  • Cover for short-term lets

If a problem does arise, and a claim needs to be made, our Private Client Executives will personally oversee the process. No forms to fill in, no paperwork, no hassle. Just talk to us on the phone and we’ll take care of everything.  You’ll also receive added protection from the financial ombudsman service which is not a regulatory requirement for an overseas policy.

How many local insurance providers could offer that level of service?

Having insured high-profile and high-value individuals for more than 20 years, we do this because it provides maximum assurance in the event of an emergency. No stress. No worries.

Invest in a second home insurance policy from Nowell & Richards and we’ll ensure it has the same tailored protection as your main residence.

By Richard Nowell

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

 

The Value of Multigenerational Family Meetings

If you’ve amassed sizable wealth, or are on the right path and getting there, it may be time to consider how to pass on some of that money to children and grandchildren – without creating big problems that could harm their futures and destroy family harmony.

  • Family meetings can help avoid the thorny problems that can arise when inheritors who receive substantial assets lack the ability to manage the money prudently.
  • Entrepreneurs who wish to keep their businesses under family control can especially benefit from family meetings.
  • The most effective meetings tend to have an outside professional – a neutral third party – involved as a facilitator.

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Family Meetings

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

Why a ‘Portfolio Approach’ to Insurance Should be a Key Part of Your Financial Planning

According to Nowell & Richards, independent advisors who provide tailored insurance solutions for high net worth individuals, a ‘portfolio approach’ to insurance should be a key part of your financial planning.

Read the full article by Nowell & Richards below:

Anyone who has achieved significant personal wealth will usually have a wide variety of tangible assets to consider as part of diligent financial planning.

If you own multiple homes, a collection of cars, works of art or designer jewellery and watches; you’ll no doubt appreciate their value. Surprisingly, arranging insurance that’s appropriate and fit for purpose is often overlooked.  

Utilising the services of a specialist insurance broker can alleviate the burden of purchasing appropriate insurance.  In addition, a broker can usually save you money and secure better terms of protection by placing all of your assets with one specialist insurance provider.

Known as adopting a ‘portfolio’ approach to insurance, this can be one of the best ways to safeguard your personal wealth.

In the event of a claim, a tailored insurance policy will provide all the protection you’d expect. It can also help to minimise the risks posed by:

  • The ‘small print’ – warranties & clauses
  • Under-insurance – and its financial penalties
  • Assets increasing in value – cars, art, watches & jewellery
  • New acquisitions – instant 90-day cover for new homes, cars, assets
  • Lack of certainty – via an ‘agreed values’ approach

Having provided independent and impartial advice since 1976, Nowell & Richards are one of the UK’s leading brokers specialising in tailored insurance incorporating a ‘portfolio’ approach. They currently advise a wide range of high net worth individuals – including successful corporate business leaders, entrepreneurs and professional sports stars – to ensure their cherished assets are fully protected.

As their clients have complex portfolios spanning different asset classes and countries, they conduct in-depth risk consultations so that they can fully understand exactly what insurance cover your assets and lifestyle require.

Putting your trust in a broker like Nowell & Richards will give you access to a broad market of specialist insurers, rather than one or two providers. They will then tailor a ‘portfolio’ policy to meet your exact requirements, giving you the most appropriate cover and complete peace of mind.

Your dedicated Private Client Executive will manage your account and take care of everything on your behalf, dealing directly with insurers and acting as a first port of call in the event of a claim.

As an independent advisor they will aim to build a personal relationship and understand your lifestyle in order to identify any assets or potential risks which need specialist cover, before recommending an insurance solution that’s best suited to you.

If you’d like more information about this ‘portfolio’ approach to insurance or you’d like to review your current arrangements, visit www.nowellandrichards.co.uk or call 01785 255514 for free expert advice.

 

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

Should You Use an Investment Banker When Selling Your Company?

Selling your business is one of the most important, complex and emotionally challenging experiences you’re likely to face as an entrepreneur. You’ve got one chance to get it right – there are no do-overs – you’ve got to play it smart. There is a multitude of reasons as to why you should consider the input of an investment banker when selling your company.

  • Investment bankers bring knowledge of potential buyers for a business along with expertise at structuring and negotiating business deals – often leading to more money for the seller.
  • When selecting an I-banker, assess both the individual banker, and the firm he or she works for.
  • To avoid misunderstanding and even litigation, negotiate the agreement you make with an investment banker.

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Why You Should Use an Investment Banker When Selling Your Company

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

Educating Your Inheritors

The heads of many of the wealthiest families are concerned about their heirs’ ability to smartly deal with the money and business assets they will one day inherit. This is especially true among the first-generation wealthy. And their fears are warranted: full 70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third, according to the Williams Group wealth consultancy.

  • The people who inherit your assets need to know how to manage that wealth intelligently.
  • Wealthy heirs’ top priority is to identify and work with top financial talent to guide them.
  • They also want to know what their wealth can accomplish.

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Educating Inheritors

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.

 

The Super Rich Stress Test Their Financial Plans – And So Should You!

Stress testing financial plans can benefit anyone, regardless of their wealth. It can give you an insight into how those plans will hold up in the future.

  • Testing the assumptions of a financial plan, product or service can help confirm it’s right for you – or identify any ways it could jeopardise your goals and put you at risk.
  • High level stress testing involves a systematic process that examines goals, changing scenarios and costs to determine the right course of action.
  • Individuals and families don’t need to be outrageously wealthy to benefit from a financial stress test.

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Stress test financial plans

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.