One of the corner-stones of the Maastricht Treaty was that there should be no cross subsidisation of member states. They all had to meet the required criteria for fiscal prudence and then stick to it. Well we all know how long that lasted. Then at the start of the Eurozone financial crisis the accepted mantra was that it was ‘impossible’ for a member state to break away. But now, most commentators and bookmakers will give you odds of greater than evens that Greece will be the first state to leave the common currency and once again attempt to forge an independent route to recovery. But most of us outside of Greece would retort that many of the newly elected politicians from the latest chaotic round of voting are deluding themselves: it simply isn’t possible to halt payments on the national debt, nationalise the Greek banking system, renounce many of the bail-out agreements and then expect the European Central Bank to pay out the next instalment of cash. Without that next payment in July it is likely that public sector wages will not be paid out and the day of reckoning will have arrived.

There is no doubt that most Greeks want to keep the Euro as a currency but, as the recent elections have shown, they don’t want to accept any more harsh medicine in the name of ‘austerity’. If a disorderly exit from the Euro is the route taken by the politicians then we can expect the next two months to see frantic discussions between just a few individuals in Brussels and Athens, lest the secret come out and with it the premature collapse of the Greek banking system. Leaving the Euro, probably over a weekend, would then see the Greeks adopt a new currency which might be set at parity to the Euro, but the new Drachma would then be at the mercy of global currency markets before it found its new level of value. Let us imagine that it falls by 50%. In that case the savings of any Greeks who still have some money left in a bank will be halved, and any debts that they hold in Euros will be doubled. The likely conclusion for the Greek state is that the new wave of politicians, elected by a disgruntled population, will default on their debt obligations to the rest of Europe, with potentially serious consequences for the whole of the European banking system.

This scenario looks to be disastrous for the Greek population, but to many of them they look doomed under the current ECB austerity programme, so why not give it a go ? Perhaps devaluation would allow Greece to recover over the next decade through cheaper exports and a revived tourism industry. True, Greece would be shunned for years by international lenders, but then that’s nothing new to them, as they have spent more than half of the last 190 years in various stages of default. Should Greece walk away then I doubt that the Euro crisis will be resolved. Instead, attention would move to the next likely departure. Spain is certainly in financial crisis, but leaving the Euro would make matters worse, whereas Portugal may take the same view as Greece. Stuck between a rock and a hard place, the populace may finally revolt. For all the attention that we pay to politicians and Central Bankers we should take note that right across Europe, whether it be France, Holland, Austria, Spain or Greece, voters are taking their revenge on politicians who are viewed as responsible for this mess in the first place: and the problem with democracy is that it sometimes delivers unpalatable results.

Brown Shipley provides banking, investment management, pensions and advisory services for private, institutional and corporate clients.

I was asked to present to 3 groups of A-Level students and promote a potential career in financial services, an interesting proposition when many believe the industry is dying. In fact, it could not be a better time in my opinion to join a booming profession. As an advocate of the FSA’s retail distribution review (RDR) as we all are at Xentum, I strongly believe that qualifications, a defined cost and service proposition and delivering a high service to clients will benefit the industry and the public as a whole.

I was also delighted to present together with two well respected female IFAs within the industry, a rare sight when it was cited that only around 7% of the IFA population are female. Together with my youthful exuberance, I hope we dispelled the myth that you need to have grey hair, a pin striped suit and a briefcase to advise clients on their financial matters.

In fact there is hope amongst many of the bright stars within the industry that we can start to shake off the stigma that the past has given us in the form of mis-selling scandals and commission hungry salesmen and start to move towards building a strong and transparent profession alongside our professional peers (lawyers and accountants). Of course there will always be those that are looking after their own interests and they will always find a way to fleece the public, but at least we are making huge steps in the right direction.

I am also happy to say that the feedback we got was very positive and that over 40% of the students would consider a career in financial services.

Though in many situations in life this choice is taken from us; whether it’s visiting a GP for the first time, taking a leap of faith with a new ski instructor on a mountain you’ve never experienced before, entrusting your child’s care with their teacher on a school trip to simply trusting other road users to drive safely. The list goes on….

In many of these situations you don’t question the integrity of a GP or teacher as they are considered to be professionals who operate within a clearly defined code of conduct. We are expected to trust these people without question, and for the most part, we do. As a result, breaches of trust within any profession are viewed as abhorrent and severe cases are always well publicised.

The Retail Distribution Review (RDR) will come into effect in January next year and will bring a welcome dose of credibility to the personal finance sector to ensure the highest technical ability and professionalism.

Despite all these safeguards to ensure the integrity of professions, sadly there are cases of poor and downright illegal practices that slip through the net. One of our recently acquired clients has unfortunately been swindled out of almost £10,000 by an adviser at a local branch of a well known high street bank.

The theft from their accounts has only come to light in recent weeks and for the couple concerned, their greatest upset was that they trusted and liked the individual who had been quietly siphoning funds from their accounts. She had built up such a rapport with the couple they considered her friendship to be genuine and have been left shocked and bewildered by the extent of this individual’s deceit.

We live in challenging economic times and it’s sad that there are individuals who have no qualms in defrauding genuine, hard working people of their savings. This case highlighted to me that despite the safeguards and an element of trust that a well known brand brings you can’t compensate for an individual’s greedy or desperate actions.

If this individual had been working as part of a team, I’m fairly confident this situation would never have happened – there is always an extra pair of eyes checking for irregularities or a diligent co worker who would spot sloppy or sabotaged paper work. This is why we’ve always taken a team approach to our clients’ portfolios. There are always two chartered planners who discuss cases, to agree the best way forward and at least three other members of the team who are responsible for ensuring the smooth and legitimate running of the accounts. Every process is transparent, right down to our billing structure.

I only hope this sorry case has prompted a tightening of procedures and although it will bring little comfort to our clients, I hope the bank in question doesn’t quibble over compensating them and as soon as possible.

The only thing as unpredictable as the British weather is the economy, despite the UK interest rate being held at 0.5% and no let up in the bank’s quantitative easing programme (QE), it’s still proving to be a tumultuous journey. True to the fickle nature of these fiscal times Mervyn King has said that the economy will “zig zag” between growth and contraction throughout 2012 but on a more positive note believes that the UK is unlikely to enter a recession this year. The only thing that remains certain is that there continues to be uncertain times ahead.

As the new tax year starts, the team have been mad busy assisting clients with last minute returns and tax related house keeping such as making the most out of allowances including; isa, capital gains and pension contributions. Procrastinating on dull but necessary paperwork only makes it a more painful process when the deadline looms. Save yourself the anxiety and over the year steadily work your way through the various allowances and make sure you take advantage of them. Again, if you need help, ask your financial planner to assist. A good planner should be steering you in the right direction as a matter of course.

Well, as the sun appears and the snow melts, all there is left to say; is ‘Happy Easter’ and embrace the day, whether it brings you sun, snow or rain.

All record keeping and client portfolios are largely managed online so with this in mind we’re looking for someone who can grasp new procedures quickly and who possesses exceptional attention to detail.

You will need to demonstrate the ability to connect on a personal level both with us and with our high net worth clients. Whilst we take client satisfaction very seriously, we’re anything but stuffy and marry dedication and expertise with warmth and personality.

Interested? Email your details to info@xentum.co.uk attaching your CV.

Launched in 2004 Xentum provides a totally independent, transparent and ethical financial planning service specialising in investment, tax and pension planning. This family run wealth management company in Lymm has built a strong and loyal client base in the region and beyond.

Negativity has sadly become a typically Best Of British trait and I have every sympathy for Adele; this was her moment of glory and it was curtailed swiftly by timing pressures of a live show. It’s a shame the media can’t focus on the achievement rather than a negative incident on the night.

I’ve even pondered that the large red cross emblazoned on the Union Jack has become symbolic of this Best of British Negativity (BoBN) pervading our society, it’s almost like a satirical health warning. Headlines continue to be dominated by the; Eurozone crisis, public spending cuts, rising unemployment and low consumer confidence. Even the frivolity of fashion isn’t exempt from (BoBN) after acerbic fashion writers criticised the catwalk creations featured at the recent London Fashion Week.

Please, for the sake of the nation’s psyche, let’s change the record and inject some positivity into British news reporting.

There are success stories out there. For one, our business is thriving. We’re continuing to attract new clients and there appears to be no shortage of investors with one million plus to invest. I’m meeting business owners, entrepreneurs, chief execs and company directors who say that without doubt times are hard but they are driving forward and adapting and are keeping their businesses afloat. Others seem to be recession proof and expanding their businesses.

So well done Adele, One Direction and Ed Sheeran et al for your tremendous efforts and giving us something to smile about (I’m not massively into music but from what I did see the Brits looked like a fantastic party). And I know I wouldn’t be seen dead wearing paisley pants with a bright orange sports jacket, teamed with a clutch bag – but who cares? Fashion is supposed to be fun, so let’s celebrate these fabulously flamboyant characters and their designs and even if we don’t like it, well let’s just allow ourselves to smile about it instead.

Now Xentum is one of 45 businesses who fall under the Succession umbrella, it was great to meet other business owners and hear first hand about some of the fantastic developments Succession is forging ahead with.

As a group of businesses, or hub, Succession reported that collectively there is now £6 billion in investments which now fall under its influence. This gives tremendous buying power and helps drive down costs which can ultimately be, over time, passed to clients.

Another highlight of the conference was to hear MP for Wokingham and former director of Rothschild Merchant Bank John Redwood MP giving a fantastic analogy on the Euro.

He likened the situation to setting up a bank account with your neighbour; in which you both plough in all of your money, except your neighbour decides to purchase a four bedroom villa, while you would have been happy with a two bedroom apartment. On top of the villa purchase, you then find out your neighbour has run up a huge bar bill, you object to paying for it, but too late, it’s been paid for! The moral of the story being don’t open a bank account with your neighbour! He made perfect sense out of a messy situation.

That’s why a piece I read earlier; ‘Go Figure; The great business confidence gap’, struck such a chord with me. Essentially, it was about how business leaders recognise the economy is in a state of flux, but despite this, actually believe their own business is doing well.

There followed a long, intelligent argument of why certain people would hold this belief, if, indeed it was true, and how you could effectively measure success. But the bottom line was (according to several legitimate surveys) that there was a really sense of optimism out there despite all the negative media about the economy. This in itself begged the question; Is it all the media’s fault for fuelling the economic situation through its excessive reporting? You get the picture? The article really probed the issue of perception.

Regardless of the research and the argument, the fact is, there is overwhelming evidence to suggest there is a huge amount of optimism among captains of industry, business leaders and owners and I am happily part of that club.

Maybe it is a case of genius child syndrome – we all think our babies are prodigies in the making; “oh, she’s so forward,” I can hear the immortal words now. And of course, in your eyes they are exceptional wonders in the making and they’d have to seriously make a lash up of their lives for this view to change.

Now, I’m not saying when it comes to business that our rose tinted specs blind us to the reality of the situation but how can you lead a successful business and not be positive? It’s like negative parenting – it only creates a morose child. I genuinely believe you only get out of life what you put in, whatever the focus of your positivity is.

So, I am genuinely feeling good about the year ahead. We’ve just announced an alliance with the UK’s leading consolidation and capital creation company – Succession.

The announcement is the culmination of months of discussions and through their support it will really help us to give our clients the very best bespoke, quality service. This is so important at a time when investors are so disenchanted by the service the private banks give.

What kind of year will 2012 be? Who knows? But it is the Year of the Yang Water Dragon and some believe it signals the end of the world but according to feng shui believers, it should bring many possibilities. I’m definitely supporting the latter view and I think we all should sprinkle some feng shui karma into our lives.

However desperate times may be, there was no sign of fiscal troubles in this packed to the rafters Manchester theatre, which I suspect will be a sell out throughout this season’s run of Cinderella.

Embracing the magic of Christmas, especially when you have children is priceless, we’ve even had a timely dusting of snow in recent days for traditional effect, but for me it’s these golden moments that put the worries of the year behind me and make me focus on what we have.

Yes, it’s been a tough year economically but as a business we’ve survived to continue to give our clients the best service we possibly can. This year has been about wealth protection, minimising losses and making quick gains when the market allows and I’m proud that we’ve successfully protected our clients from the unpredictable nature of the markets.

Many friends and peers either own their business or hold senior positions within organisations and the topic of conversation is punctuated with the word tough. There is absolutely no doubt that we are feeling the pinch both personally and professionally but equally I think the time has come to see the positives and feel proud if you’re still in a job or keeping a business afloat.

Looking on the bright side, as a business, we’ve had a good year. We’ve continued to retain all of our clients while steadily acquiring new ones; we’ve done tremendously well in terms of wealth protection and have also made some nifty gains for our clients during opportune times.

Highlights have included the bespoke commercial deal we packaged and delivered in conjunction with 53N, sponsorship of The Manchester Contemporary VIP Collector Programme and of course the proud moment Adam achieved chartered status.

Are these tough times behind us? Oh no they’re not, but if you’re lacking Christmas cheer, take your kids to the panto and at the very least enjoy a couple of hours of escapist nonsense.

If you’re concerned about your investment performance or have any questions at all don’t hesitate to contact me for an informal chat on 0845 226 6971 or email info@xentum.co.uk.

The world economy is in a precarious state and the priority for financial planners at the moment is to protect wealth by minimising potential loss – gains are a real bonus at the moment. Of course those who are prepared to take more risk can be financially rewarded within turbulent times but it’s not an option for the more cautious.

‘Lifestyle forecasting’ is becoming more prevalent within the realms of personal finance, and isn’t just about what we want to spend our money on in one, five, ten years time. It’s about serious cash flow forecasting which enables your financial advisor to work out if you have sufficient funds to give you the lifestyle you want for you and your family for the rest of your life. The forecasting is balanced against predicted inflation and the level of investment risk you are prepared to take.

Clients’ anxiety over their wealth is always heightened during difficult times and none more so than those reaching retirement age or retirees. Regardless of what’s happening in the markets a good wealth manager should be working hard to minimise losses but worry over the long term can be eased with this clever but common sense financial analysis. Equally, it can highlight future shortfalls but crucially gives your adviser time to put plans in place to redress the issue.

If you haven’t already asked your financial planner about cash flow forecasting then you should. It’ll give peace of mind, is a useful succession planning exercise and highlights any unnecessary risk taking. Why take risks if the forecast predicts a rosy outlook regardless? It’s a no brainer……

I have recently completed a financial forecast for one of my clients who has been genuinely concerned if she had enough assets and funds to give her the lifestyle she currently enjoys into old age. No stone was left unturned and we certainly erred on the side of caution and over estimated annual spend and took a pessimistic view on predicted inflation at 3%. It confirmed my client will have sufficient funds for the next 30 years and interestingly showed that even taking low risk investment options as opposed to her current medium risk profile would still give her sufficient resources to fund her lifestyle.

Peace of mind is priceless.