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The Site has been approved for issue in the UK by Harrison Rowe Financial Planning Limited trading as Harrison Rowe Private Wealth. Harrison Rowe Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”), and is entered on the Financial Services Register with the firm reference number 208467.
Harrison Rowe Financial Planning is part of a global group of businesses known asThe Harrison Rowe Group. Harrison Rowe Financial Planning Limited is registered in England and is established at 56, Wentworth Road, Blacker Hill, Barnsley, United Kingdom, S74 0RP, which is its registered office.
Unless otherwise stated in relevant sections of the website, this website is targeted at investors who are generally classified as qualified, professional, accredited or institutional. The information contained in this website is directed only at persons in a country or jurisdiction where access to the information and the use thereof is not contrary to local law or regulation. It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction when accessing the information contained in this website. In particular, no offer or invitation is made to any US persons (being residents of the United States of America or partnerships or corporations organised under the laws of the United States of America or any state, territory or possession thereof), who are excluded from the services, funds and products included in this site. There will be no public offering of services, funds and products in the United States.
The services, funds and products will not generally be available to U.S. Persons.
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In these Terms
- ‘Content’ means all pages, screens, information and materials included in or accessible through this Site (including any content available on any email or SMS services).
- ‘you’, ‘your’ and ‘yours’ means you, the person(s) accessing this Site and the party on whose behalf you are doing so.
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- ‘HR / HR Group’ means HR Investments Limited, its subsidiaries and associated companies from time to time.
These Terms cover your use of this Site. All products and services provided by members of the Harrison Rowe Group have their own terms and conditions (the ‘Product Terms’). You must read both the Product Terms and these Terms. To the extent that the Product Terms conflict with these Terms or any Local Sites’ terms and conditions then the Product Terms will prevail.
We are required by law to tell you that the terms and conditions are in English and that we will communicate with you in English.
From this Site we may provide information or hyperlinks to other websites or pages provided by other entities within the Harrison Rowe Group (‘Local Sites’) and other parties. Your use of Local Sites and other parties’ sites may be subject to their own terms and conditions. You should read them.
This Site is intended for those who access it from within the United Kingdom. Because of this we cannot guarantee that the Site, or the information thereon, complies with the local laws or regulations of, or is appropriate for use in, any other jurisdiction from which you access it. If you choose to access this Site from a jurisdiction other than the United Kingdom you do so at your own risk and the Harrison Rowe Group will not be liable for any breach of local law or regulation that you commit as a result of doing so.
Please make sure you read carefully all applicable terms, conditions and disclaimers relevant to your use of the products, services or information that may be offered to you from time to time.
If any part of these Terms is found by any court or other competent authority to be invalid, unlawful or unenforceable then such part shall be severed from the rest of the Terms which shall continue to be valid and enforceable to the fullest extent permitted by law.
Changes to our Terms
You acknowledge that we may amend these Terms from time to time, at our sole discretion. If we elect to amend these Terms, the revised version will be posted on the Site. You undertake to check the Site regularly for any changes we may have made since your last visit to the Site, since any such changes will be binding on you. By using the Site after we have changed or amended these Terms, you acknowledge that you will be accepting those changes or amendments.
These Terms & Conditions were last updated on 6th February 2019.
Availability of site, products and services
The Content, including layout, of this Site or products or services available via this Site may be wholly or partially suspended, withdrawn or changed at any time.
We also reserve the right at any time to immediately suspend the provision of all or any part of this Site to you and/or block your access to this Site.
The provision of financial services or products
Not all the products and services that you may be able to view via the Site are available in all geographical locations. The relevant Harrison Rowe Group member reserves the right to make the final determination on whether or not you are eligible for any particular product or service.
If you choose to enter a website outside your country of residence, you are advised that it may not be legal in that jurisdiction for you to access or use the facilities available on that site and the legal requirements of that jurisdiction may prohibit you from dealing or otherwise transacting in that jurisdiction. No member of the Harrison Rowe Group will be liable for any breach of local law or regulation that you may commit as a result of using and accessing a website in a country in which you are not resident.
Please be aware that some of the products and services listed within the Site and those provided by any other Harrison Rowe Group members or third parties that may be accessed via a link from this Site may not be suitable for all investors. Always read the product information fully before committing to any contractual agreement.
All products or services provided to you by us or any other Harrison Rowe Group member shall only be available in the jurisdiction/s within which the member providing the product or service is authorised to operate.
You agree that any of the products or services provided to you by us or any other HR Group member shall be deemed to be provided in the jurisdiction within which the member providing the product or service is authorised to operate.
Information or opinions contained on this Site or in any Local Sites do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments.
Should you seek to rely in any way whatsoever upon any Content contained on this Site, you do so at your own risk.
Before you make any decision or take any action that might affect you or your personal finances or business, you should always consult a suitably qualified professional adviser(s) to obtain appropriate financial, legal, accounting, tax and other advice.
Other than the warranties and representations contained in these Terms, all other warranties and representations, whether express, implied or statutory are, to the fullest extent permitted by the law, excluded. We do not exclude or restrict our liabilities or duties to you where or to the extent that this is prohibited by law or regulation. Use of this Site is at your sole risk.
We do not represent that:
- any information contained on this Site will be accurate, complete or up to date or meet your specific requirements,
- this Site will be available,
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We do not provide any guarantee about the accuracy, functionality or performance of any third party software, Content or equipment used in connection with this Site.
Exclusion of our liability
To the extent permitted by law, neither we nor any member of the Harrison Rowe Group shall be liable for any damage, loss or liability (whether arising in contract, tort, including negligence, or otherwise) arising out of or in connection with:
- your use of this Site,
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- Any failure or performance, error, omission, interruption, defect, delay in operation or transmission, computer virus or line or system failure to this Site or your use or attempted use of it.
The above exclusions apply to any damage which is direct, indirect, special, incidental or consequential or consists of loss of profits, business, opportunity or data.
All of the above exclusions apply even if you have advised us or any other member of the Harrison Rowe Group of the possibility of the above types of damage, loss or liability.
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In order to use the Site or one or more parts of it, you may be required to become a registered user. In order to become a registered user we will issue you with one or more of the following, namely, registered username, password other security identifier (‘Password’) in accordance with our procedures in place from time to time.
You will keep your Password secret and confidential at all times. Your Password will allow you to access your personal and confidential account and/or financial information.
You must tell us immediately of any unauthorised access to the Site using your Password or any unauthorised transaction or instruction which you know of or suspect of if you suspect someone else knows your Password. We will need you to help us and any law enforcement agency in trying to recover any losses. We may disclose information about you or your account to a law enforcement agency or other third parties if we think it will help prevent or recover losses.
You are wholly responsible for use of the Site by any person using your Password.
We reserve the right to suspend access to the Site in the event that we suspect that an unauthorised person is attempting to access the Site using your Password.
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- protect and back up your data and equipment,
- undertake reasonable and appropriate precautions against any computer virus or other destructive materials or elements, and
- ensure that your computers and your access to this Site are adequately secured against any unauthorised users.
Your use of this Site – you may not use this Site or permit others to use this Site:
- in any way (including via electronic means) and for any purpose which is unlawful, defamatory or libelous, offensive, abusive, indecent, menacing or threatening or in any way that infringes any intellectual property rights or breaches any obligations of confidence, or
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You undertake to comply with any terms notified to you as required from time to time by any third party supplier of data or services to this Site, including but not limited to, where necessary, entering into a direct agreement with such third party in respect of your use of their data.
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- create any data base in electronic or structured manual form by systematically downloading and storing all or any of the Content; or
- redistribute any of the Content (including by using it as part of any syndication, content aggregation, archive or similar service); or
- remove the copyright or trademark notice from any copies of Content made in accordance with these Terms.
Internet and e-mail communications
Messages sent over the Internet (including e-mail) cannot be guaranteed to be completely secure as they are subject to possible interception, monitoring, delay, loss or alteration.
Neither we nor any other member of the Harrison Rowe Group are responsible for any such messages nor liable to you or anyone else for any damages or otherwise in connection with any messages sent by you to us or any other party or any messages sent or appearing to be sent by us or any third party to you over the Internet (including e-mail). You should not include any sensitive or confidential information in such messages.
Our monitoring of communication
To help us improve our service and in the interest of security, we may monitor and/or record communications (whether over the Internet, telephone or otherwise) between you and us. All recordings are our sole property.
Data protection and Privacy
These Terms are governed by and are to be interpreted in accordance with the laws of UK.
The courts in England and Wales will have non-exclusive jurisdiction in respect of any dispute which may arise in connection with the Terms or your use of this Site.
Five steps to Financial Maturity
Personal finance, by nature, revolves around a financial plan that is specific to your current circumstances and future objectives. Your position is different from everyone else in some way and because of this, you should have your very own financial plan.
There are, however, a number of generic steps that everyone can take in order to get themselves going in the right direction with their personal finances. We have listed a number of these below so you can move towards Financial Maturity.
Get your numbers right
Many people simply see their monthly salary come into their account and then see their expenditure leave as a constant cycle. There is no thought as to how their spending habits are structured, how they could save a bit more or even how they could stop the month-end credit card splurge. Behaviour such as this is a key factor in the ‘rat race’ culture that many people feel trapped in. With a more proactive approach to your finances, you can escape this.
Your first step should be to establish where you are currently. What assets do you have? What debts do you owe? What is your income and where does this come from?
Subtracting your existing liabilities from your assets will provide you with an approximate value of your net worth. Subtracting your regular expenditure from your regular income will provide you with your surplus income. The distinction between these often separates ‘Rich’ and ‘Wealthy’ individuals. Wealth is built in a sustainable, proactive manner and is a key metric of financial maturity.
Build your emergency fund
An emergency fund is for emergencies. Not that emergency Christmas present because you forgot someone, but for any periods of unemployment, healthcare costs or sudden necessary spending. We recommend that you hold between 3-6months income as an emergency fund and saving for this should be an aspect of your monthly budget.
Manage your priorities
Is it a ‘Need’ or a ‘Want’? Will you survive without it? Have you wanted it for a long time?
Everyone has desires and you should reward yourself for your efforts throughout your career. However, you should make sure to segment your income into needs, savings and then wants.
It can be easy to lose the line between wants and needs. Does that new car for the school run need to be a V8? Do you need the designer handbag? Is the more expensive coat a better choice because it will last longer?
Financial maturity requires a reflective mindset. We recommend asking yourself ‘Will I be pleased with this purchase in 5 years?’. If you can honestly answer with a ‘Yes’, and the purchase fits within your budget, you are likely to be on the right track.
Don’t lose sight of your long-term goals
Many of us worry that we aren’t saving enough or resent the fact that we can’t buy that new car because it’s too expensive. Then, a pay rise at work comes along. It should now be easy to buy that new car and commit more to your retirement savings…
With the new car comes the new wardrobe, the new watch and potentially the new house. Lifestyle inflation is the concept of increased spending when income increases. A certain increase is expected as added responsibility may take up more time leading to expenditure. It is also important to enjoy the fruits of your hard-earned income. However, when unmonitored, lifestyle inflation can become a virus that blocks your chances of wealth creation. It is important to consider what you are potentially giving up in the future, when you make a significant purchase.
This concept can even be brought into short term saving. A £4 cappuccino, 5 days a week, is approximately £1,000 a year.
Start today, not tomorrow
‘I’ll start saving in January’, ‘Just this last holiday and then I need to be serious’, ‘Extra halloumi? Sure, why not.’…sound familiar?
It is easy to push your responsibilities back when they seem so far away, however, you won’t thank yourself in the future. Committing to your future with small, sustainable saving is not an unachievable goal for most, it is just easier to spend.
For those who are active members of workplace pension schemes, you should make sure that your employers are maximising your contributions and investment growth if relevant. For those who aren’t, you should consider your own saving strategy in more detail.
If you save £500 per month, for 10 years you will have a final balance of £60,000. If you invest £500 per month for 10 years with a 4% annual growth rate, you will have an approximate final balance of £85,000. Occupational pension schemes invest their members’ contributions and escalate their benefits annually. If you are saving for your own retirement you should make sure to invest a percentage of your funds so you do not lose out to inflation.
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