Quarterly Newsletter - August 2015
by Alexander Beard, on Aug 24, 2015 6:39:18 AM
Welcome to our summer edition, there are a number of important articles relating to UK matters as well as some interesting copy on various international issues that may face some of our overseas clients.
Here at ABG head office the bulk of the year so far has been taken up with completion of the integration of Bogaard Pensioen and Lepretre and Partners and the Netherlands employee benefit business is now operating fully under the Alexander Beard International Benefits brand.
What was Lepretre and Partners is now the London office of Alexander Beard Wealth LLP and fully integrated into our UK systems and communications.
This has kept most of the senior management team busy and my thanks to all concerned for all their hard work.
In the UK George Osborne’s first ‘all Conservative’ budget brought a number of interesting changes to taxation and benefits and a summary can be found in our newsletter on the subject which can be accessed by the link below. If it gives rise to any concerns or questions then please let your personal adviser or a member of the relevant team know and we’ll do our best to answer.
Clearly the “elephant in the room” investment-wise has been the Greek bailout crisis, which is becoming more like a soap opera, but at the time of writing this introduction does seem to be nearing a conclusion, however the uncertainly has done short term damage to equity markets which will bounce back, I believe, quite quickly.
On the Australian and New Zealand sides of our business we have had to put a temporary halt to QROPS transfers to these countries until they agree new rules with the UK HMRC, but existing transfers are unaffected.
The growth of our employee benefits business and the commercial considerations stemming from the two deals mentioned in my opening paragraph has inevitably meant an increase in our support functions and we now have 54 members of staff across the UK and Dutch businesses.
Finally I would like to mention something partly relating to my last comment on staff numbers; since the introduction the Governments Apprenticeship programme we have successfully taken three young members of staff through to completion who all remain with company, one further apprentice is due to complete the programme shortly and we are currently in the process of hiring a fifth for our new London branch. It is something I am particularly pleased about as there are many 100’s of great young people out there just waiting for the chance to show their worth and we are committed to using this route to help build the next generation of our company.
I hope you all enjoy the rest of the summer months or are looking forward to them if you are an Abg client below the Equator”.