Are you keen to stay updated on the latest financial trends and insights? Read on for a concise and informative overview of the most recent developments in the financial world.

In this edition, we explore a range of topics including:

  • Discover how you might have unclaimed pension and insurance assets and how to recover them.
  • Learn about the growing trend of parents prioritising their children’s savings over their own.
  • Get insights into the decline in M&A activity in the UK and which sectors are still thriving.
  • Understand how emotions are impacting trading decisions.
  • Stay informed about the significant expansion of the BRICS group and its global economic implications.

Find lost money!

Up to £800m of pension and insurance assets and an even higher amount of savings could be lying dormant, according to new data¹. Bank and savings accounts may be declared dormant if you don’t touch the account for several years and any letters from the bank or building society may fail to reach you if you’ve changed address.

You can check for free if you have any forgotten savings or current accounts at the government-backed website www.mylostaccount.org.uk making sure to check that the service is suitable for you.

Future generations prioritised

According to research¹, parents and guardians have been prioritising their children’s savings rather than investing for themselves. Between October and December 2023, the number of JISAs opened soared by 101% compared to 2019 when data was first tracked.

There was a corresponding drop in ISA investments in the same period. Mothers led the way – since the start of 2019, the number of new JISAs they opened was up by 115%, compared to fathers, which was up by 87%. It’s important to find the balance between your own financial stability and that of your children.

UK Mergers and Acquisitions activity drops nearly a fifth in 2023

UK M&A activity in 2023 fell below 2022 levels as economic headwinds continued to affect the number of deals completed in the year, according to PWC’s latest Global M&A Trends 2024 Outlook. In total, the UK saw 3,628 deals across 2023, compared to 4,362 the previous year, a 17% decline. The Technology, Media and Telecommunications (TMT) sector saw the most activity for 2023 (955 deals), accounting for just over a quarter of total output for the year.

Gen X impacted by emotional trading

A survey² delving into the trading psychology of new traders has revealed that the demographic most likely to have their trading decisions consistently influenced by emotions were 41 to 60-year-olds (Gen X). Over a third (35.4%) of the Gen X group considered emotions to be a significant factor in their trading approach, which compares to 10.1% of the 18 to 24-year-olds surveyed.

BRICS gets a boost

BRICS, the alliance of major developing countries, gained five new members this year – Saudi Arabia, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE). The population of the expanded group is around 3.5bn or 45% of the world’s inhabitants.

The combined members’ economies are worth over $28.5tn, about 28% of the global economy. Originally coined as an asset class in 2001, the original members Brazil, Russia, India and China (BRIC), were later joined by South Africa in 2010 to become the BRICS acronym we know today. Following the Russian invasion of Ukraine, many BRICS indexes dropped Russia from their portfolios.

Talk to us

Please do get in touch if you’d like to set up a free initial investment review free of charge. Clifford Osborne are highly experienced independent financial advisors based in Eastbourne, East Sussex. We work with clients across the South East including Uckfield, Lewes, Brighton, Tunbridge Wells, Hastings, Bexhill, Newhaven, Seaford, Crowborough and further afield.

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¹Commission on Dormant Assets, 2024
²Scottish Friendly, 2024

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.

It is important to take professional advice before making any decision relating to your personal finances. Information within this blog is based on our current understanding of taxation and can be subject to change in future.

It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK; please ask for details. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.

If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency. Taxation depends on individual circumstances as well as tax law and HMRC practice which can change.

The information contained within the blog is for information purposes only and does not constitute financial advice.

The purpose of the blog is to provide technical and general guidance and should not be interpreted as a personal recommendation or advice.