1

PROSPECT

WEALTH MANAGEMENT
PROSPECT
WEALTH MANAGEMENT

We take the time to get to know you

and to understand your investment needs so we
can help you establish a realistic and tax
efficient investment strategy.

introduction

contents
01 Introduction
02 Why Prospect?
04 Designing Your Portfolio
08 Benchmarking
10 Making Investment Decisions
12 Case Study
14 Relationships Count
16 Raymond James

PROSPECT
WEALTH MANAGEMENT

Prospect Wealth Management was established

with the aim of bringing the highest standards of
professional investment management to the
individual investor.

In a market place that is all too often

dominated by short term returns,
we focus on three fundamentals of
investment. We take the time to get
to know you and to understand your
investment needs so we can help
you establish a realistic and tax
efficient investment strategy. We
actively manage a well diversified
portfolio for you, using proprietary
processes that help to raise the
probability of you meeting your
goals. Most importantly, our
processes are transparent so you
know what you should expect from
us and whether we are meeting
your expectations.

01

These characteristics, long considered

essential in the institutional market
place, remain rare in private client
asset management. Our confidence
in our service is reflected in the
substantial stake management hold
in the business and our commitment
to invest our own savings alongside
those of our clients.

PROSPECT
WEALTH
WEALTH MANAGEMENT
MANAGEMENT

Investors are always searching for better ways to manage their wealth,
improve their returns and get a truly personal service from their adviser.
We very much hope that your search is over. At Prospect, we have two
over-riding goals: to implement effective processes to grow wealth for
our clients and to provide the best in personal service.

02 WHY PROSPECT WEALTH

MANAGEMENT?
Comprehensive Solutions

Meaningful Benchmarks

Personal Investment Manager

We ensure that your investment strategy takes account

of your total wealth and takes advantage of the most
appropriate tax mitigation strategies. We offer
discretionary investment management within a range
of tax-advantaged wrappers such as Individual Savings
Accounts, Self Invested Pension Plans, Offshore Bonds
and Trusts.

We ensure that every portfolio is given a benchmark that

is directly related to its risk and return profile. This means
that you can judge objectively whether we are delivering
the performance you expect.

A professional investment manager will be allocated to

your account. Your manager will be readily accessible to
discuss all aspects of your wealth management.

Risk and Return Explained

The decision as to how much risk to take will typically
determine your future returns. We explain, in clear,
understandable terms, what you should expect from
different types of investments. We also explain how
blending these different investments together can reduce
risk and improve long-term return potential. You can then
be confident that your investment strategy is properly
aligned with your needs.

Investment Strategies for Every Situation

We offer discretionary investment in a wide range of
assets to meet most clients needs: money markets,
bonds, equities and alternative investments such as
hedge funds, commercial property and commodities.
We recognise that diversification is a key component in
modern portfolio management and seek to exploit a wide
range of investment opportunities.

PROSPECT
WEALTH MANAGEMENT

Objective Decision-making

Effective processes to
grow wealth for our clients and
the best in personal service.

We apply modern, quantitative investment disciplines to

bring objectivity to our investment decisions. Supported
by research from some of the leading global financial
institutions, this is designed to avoid the pitfalls associated
with emotional responses to market movements. Our goal
is to out-perform your benchmark while at the same time
to limit the risk of underperformance.

Direct Investment
Using our proprietary valuation methods we aim to add
value through the selection of undervalued stocks and
bonds in the UK. This means you can see what you own
and also helps to keep costs to a minimum. In international
and alternative asset classes we select funds that
complement our investment philosophy and provide
value for money.

Tax Efficiency
Your investments can be held in a variety of tax advantaged
wrappers such as ISAs, pension schemes and offshore
bonds. We also seek to structure family accounts in the
most tax efficient manner and to take advantage of your
allowances wherever they are available.

Transparent Reporting
You will receive quarterly investment reports that show
the value of your assets and compare the performance
on your portfolio to your own specific benchmark. That
way youll be able to see whether you are on track to
meet your long term objectives. You will also be able to
keep track of your portfolio over the internet using
Investor Access.

Competitive Charges
We are committed to transparency in disclosing all
of the costs applicable to your portfolio. Our annual
management charges range between 0.75% + VAT
and 1% + VAT though discounts are available for larger
portfolios. Full details will be provided upon request with
an Illustration in Cash Terms showing the impact of fees
on your own individual portfolio.

Operational Strength
Prospect Wealth Management is a branch office of
Raymond James Investment Services, whose parent
company controls assets of more than 250 billion for over
2.5 million clients worldwide (Dec 2013).

PROSPECT
WEALTH MANAGEMENT

The Right Mix of Investments

To achieve the right mix of investments you need to:
Understand the risk and return characteristics of different asset classes
Know how and when to use diversification
Correctly align your tolerance for risk with your return profile

Building Blocks
There are two core asset classes that can be used to
create a portfolio: fixed-interest securities (bonds) and
equities. There are also alternatives to fixed interest and
equities, as shown in the table below. We can add these
alternatives to your portfolio to increase diversification
Components of Different Asset Classes

04 designing your
portfolio

EW

NC
HM A R K

RISK: To what extent are you prepared to see your

returns fluctuate in the short term? What probability
do you want to attach to meeting your long term goal?

OBJECT I VES

BE

TIME: What is the time frame over which you are

investing - when are you likely to need some or all of
the capital from your portfolio?

These questions form the first part of the investment

process - setting objectives - and need to be answered
in terms that can be measured if they are to have any
value. We approach each part of the process in a similarly
objective manner. As a result, you can be confident you
have identified the right strategy for your circumstances
and that our investment decisions are based on reason
rather than on the latest fashion.

REV I

Everyone is different. We know you will have your own

particular response to investment risk and your own
expectations of return. So, as wealth managers we
design portfolios for you as an individual and make them
adaptable to the changing circumstances of life. You will
almost certainly have several financial goals (savings for
emergencies, for school fees, for a pension), and each
one needs to be analysed before it can be integrated
within your overall investment strategy. We have a simple
process to do that, revolving around the four dimensions
of investment:

RETURN: What return, from both income and capital

growth, do you expect over your chosen time frame?
How much money will you need at a date in the future?

Bond Alternatives

Bonds

Equities

Equity Alternatives

Money market funds

UK fixed interest gilts

UK quoted stocks

C
 ommercial property
funds

S
 hort dated corporate
bonds

UK index-linked gilts

International funds

UK corporate bonds

Emerging market funds

International bonds

Smaller companies funds

TI

I
AT
C
O

EC

ON

ALL

Commodity funds
Hedge funds

Bond hedge funds

Infrastructure funds
Securitised loans funds

Diversification
Each asset class has a different absolute level of expected
risk and return. In addition, each asset class responds
differently to economic and political events so each
will have a different pattern of returns over time. By
combining two or more classes together, we can
significantly reduce the short term volatility of returns on
your overall portfolio. Diversification across different

Threat to
Your Wealth
Best Investment
Strategy

SE

TAX: What allowances and reliefs can you take

advantage of?

and potentially smooth the pattern of your returns over

the longer term. Each asset class has a different risk and
return characteristic. By blending asset classes together
we can create a profile that suits your needs.

asset classes can thus raise the level of return you can
expect for any given level of risk.
Our goal is to ensure that you have a degree of
diversification that is commensurate with your tolerance
for risk and provides as much protection as possible
against the uncertainties of the financial markets.

UK Inflation

UK Deflation

UK Economic
Recession

Political Crisis

Index linked gilts

UK gilts

UK gilts

UK gilts

UK equities

Corporate bonds
Money markets

International
equities

Gold

Property
Commodities

Hedge funds

Commodities
Hedge funds

Source: Prospect Wealth Management research

PROSPECT
WEALTH MANAGEMENT

PROSPECT
WEALTH MANAGEMENT

Aligning Risk and Return

By modelling the past performance of different
combinations of assets, we can quantify returns over
various time periods so that you can understand the risk
and return potential of different portfolios.

Worst
WorstReturn
ReturnOver
OverInflation
Inflation
1983
1983 2014
2014

Return
ReturnOver
OverInflation
Inflation
1950
19502014
2014

Mix
Mix of
of
Investments
Investments

When
Whenwill
will
you
youneed
need
your
yourmoney?
money?

What
Whathas
hasbeen
beenthe
theworst
worstannualised
annualised
outcome
outcomeover
overany
anyone
oneororten
tenyear
yearperiod?
period?

What
Whatreal
realreturn
returndo
doI Ineed
need
to
tomeet
meetmy
myobjectives?
objectives?

What
Whatmix
mix of
of assets
assets has
has historically
historically produced
produced
my
mydesired
desired profile
profile on
on average?
average?

Years
Years

The table alongside shows historical worst-case returns,

for varying time periods, as a measure of risk. We believe
a useful measure of the potential return on an asset class
is the average total return (income and capital) above
inflation that has prevailed in the past. Whilst past returns
are no guarantee of future returns, these measures can
assist you, with the help of your investment adviser, to form
an opinion as to the mix of asset classes that is likely to
suit your needs. By reading across the table, you can easily
align your risk tolerance with your return expectation.

Rolling
Rollingone
oneyear
year

-2%
-2%

+2%
+2%

+2%
+2%

100%
100% Money Markets

-5%
-5%

+2%
+2%

+3%
+3%

100%
100% Bonds

-10%
-10%

+1%
+1%

+4%
+4%

75%
75% Bonds 25% Equities

+5%
+5%

50%
50% Bonds 50% Equities

0%
0%

-23%
-23%

-2%
-2%

+6%
+6%

25%
25% Bonds 75% Equities

-32%
-32%

-4%
-4%

+7%
+7%

100%
100% Equities
0%
0%

Since we cant foresee the future, we cant know what the

best asset allocation will be. However, by incorporating
a variety of asset classes that perform differently in
any given economic environment, we can construct an
allocation that should do reasonably well under a wide
range of circumstances.

This analysis is based

on facts, rather than
describing risk as simply
low, medium or high.

The risk reduction benefit of alternative investments is

most pronounced in portfolios with a higher proportion
of more volatile assets, such as equities.
The Benefits of Alternatives
75% Bonds

50% Bonds

25% Bonds

Bond weighting %

75

75

50

50

25

25

Equity weighting %

25

20

50

43

75

65

100

85

Real return % pa
Worst case 1 year return %

10

0% Bonds

15

6.3

6.2

6.6

6.4

7.0

6.8

7.0

7.0

-9.6

-8.1

-15.2

-12.3

-23.3

-20.1

-32.4

-27.5

Source: Thomson Financial Datastream. Dow Jones AIG commodity index. IPD Property Index. CSSFB/Tremont Hedge Fund index covering period
1983-2014. Bonds are 10 year UK Gilts. Equities are 70% FTSE 100 and 30% International large capitalisation indices. Past Performance should not
be seen as an indication of future performance. Returns: total returns, gross of fees.

PROSPECT
WEALTH MANAGEMENT

Equities

Rolling
Rollingten
tenyears
years

-15%
-15%

10+
10+

We can overlay the alternative asset class onto this mix

to increase diversification further. Adding commercial
property, hedge funds and commodities to a portfolio
has reduced the volatility of returns over the past 28
years, whilst leaving total return more or less unchanged
over this time period.

Bonds

25%
25%

50%
50%

75%
75%

Probability of Achieving Your

Return Objective
The purpose of investing should be to achieve some goal.
That might be to cover short-term emergencies or to
provide for longer-term liabilities such as school fees or a
pension. We can help you establish the likely return, after
inflation, that you need from your investments and make
sure this is properly aligned with your tolerance for losses
However, the returns shown above are long-term average
returns so there is no certainty these average returns will
actually be achieved. We therefore show you what the
probability is of achieving your goal, as the chart alongside
demonstrates. By monitoring your actual return, we can then
help you keep track of your chances of meeting your final
goal and adjust your investment strategy as necessary.

Regular Income
Income is generated from interest on your bonds
and / or dividends on your equities. We can pay this to
you on a regular basis. If you require more income than
the portfolio provides, we can arrange for capital to be
released to supplement the income. Alternatively, you
can select a different mix of assets that provides a higher
income, although this will change the risk and long term
return profile of your portfolio. Either way your investment
adviser will explain the implications and help you to
decide on the strategy that best suits your needs.

Source:
Worst Case: Thomson Financial
Datastream 1983-2014.
Real returns: Barclays Capital
Equity-Gilt Study 1950-2014.
Past Performance should not be
seen as an indication of future
performance. The worst case and
long term returns indicated are
not guaranteed.

100%
100%

Probability of Achieving Objective for

a 25% Bond / 75% Equity Portfolio
700

10% chance
of at least
9% return

600

Wealth (purchasing power)

3-10
3-10

Alternative Investments Can Reduce Risk

Money Markets

1-2
1-2

This analysis is based on facts and contrasts with the

typical approach of describing risk as simply low, medium
or high and returns as income, balanced or growth.

Alternatives weighting %

Key

Time
Time
Horizon
Horizon

500

400

50% chance
of 6% return

300

Reduce risky assets

85% chance
of at least
3% return

200

100

Invest more
0
0

3% growth

10 12
Years
6% growth

14

16

18

20

9% growth

Source: Prospect Wealth Management research

PROSPECT
WEALTH MANAGEMENT

While we cant foresee the future, we can use our proprietary investment
methods which help to reduce risk and raise the chances of meeting your
return objective.

08 BENCHMARKING

Beware the Bear?

Periodic bear markets understandably make some
investors wary of equity investment and favour absolute
return strategies. These strategies aim to achieve returns
that are always positive, even over short time periods and
typically avoid a link to any benchmark.
However, without a representative benchmark, you
wont know how much risk is being taken by your
manager nor how the returns are being generated.
Our commitment is to transparency, to make sure
you have a full understanding of the risks and returns
associated with your portfolio, and that means our
portfolios will always have a benchmark.

Relative or Absolute Returns?

Aligning risk and return demonstrates there is a clear
relationship between the volatility of returns on an
asset class (such as equities) and the return achieved
over the long term - the more risk you take, the higher is
the expected return. Whats more, increasing diversification
by including alternative assets typically reduces the risk
of short-term loss.

If youre an investor seeking returns that are likely to be

positive over a three year time horizon, regardless of
equity market movements, we offer a portfolio of cash
alternative investments. This is designed to produce
materially higher expected returns than bank deposits,
after fees, with a low risk of loss over any twelve
month period. This strategy is only suitable for those
investors willing to accept an increased level of risk
compared to deposits because some investments in the
fund carry higher liquidity, credit and regulatory risk.

When you select a risk profile and, by implication, a mix of

asset classes that you expect to meet your needs, it is
important we monitor and report the performance of this
mix, or benchmark, to ensure it is performing as
expected. Our goal is to outperform your benchmark,
after charges, over a three year time horizon, by actively
managing your portfolio. We therefore compare the
performance of your portfolio to your benchmark so you
can see whether we are delivering the returns you expect.
The table below shows how we do this.

Weighting
%

Active Benchmarking
Total Return
%

Composite Benchmark

10.8
25
45
20
10

-1.2
12.2
14.8
7.5

100

8.9*

Portfolio relative to benchmark

* (25% x -1.2%) + (45% x 12.2%) + (20% x 14.8%) + (10% x 7.5%)

PROSPECT
WEALTH MANAGEMENT

Your portfolio
Benchmark
FT All Government Bond index
FTSE 100 UK Equity index
FTSE World ex UK Equity index
Alternatives composite index

Our goal is to outperform your benchmark...

over a three year time horizon.

+1.9

Source: Indicative data

Markets move through cycles (of unpredictable length)

from being undervalued to being overvalued. The
benchmark for your portfolio is designed to deliver
your desired return over a full market cycle. However,
at times of extreme market mispricing (for example,
the technology bubble) we will advise you that it may
be appropriate to make a short term tactical change to
your benchmark.
So, if equities are expensive, we may advise you to
consider reducing the equity weighting in your
benchmark in anticipation of a market correction.
This active management of your benchmark means
you can take advantage of extreme market mispricing
to enhance returns and reduce risk.

PROSPECT
WEALTH MANAGEMENT

It is the choice of asset class (cash, bond, equity, alternative) and geographic
market (UK vs Japan, for example) that is the most important determinant
of investment returns. For this reason we place great emphasis on helping
clients to select the asset mix that is suitable for their needs and then actively
monitor and manage that mix.

10 making investment
decisions
There are two stages to the investment process:
F
 irst we decide whether, and to what degree, we will
deviate from your chosen asset allocation.
S
 econd, we select individual securities to populate
each asset class.

Asset Allocation

Stock Selection

Our processes are designed to bring a high degree of

objectivity to the choice of which asset classes should
be over-weighted and which under-weighted. This helps
to avoid emotional responses to market movements
and encourages us to make decisions based on the
fundamental value of a market rather than following the
latest fashion. Any deviation from benchmark weightings
is constrained within limits to ensure that investment risk
remains within the parameters you have specified. We use
a variety of valuation measures and historical trends to
identify whether a market is cheap or expensive.

Objectivity again drives the choice of stock, whether it is

an individual bond, equity or a fund.

VALUATION AND
MOMENTUM ANALYSIS

Fixed income real yields

Equity cash flow yield
Currency purchasing power
Commodity momentum
Property real rental yield

ECONOMIC ANALYSIS

MARKET FORECASTS
EXPECTED AND WORST CASE

Short term interest rates

Foreign exchange rates
Bond yields
Equity market indices
Commodity indices
Hedge fund returns
Property yields

OPTIMISATION

Client risk profile

ASSET
ALLOCATION

Expected outcome
Worst case

Objective
Subjective

PROSPECT
WEALTH MANAGEMENT

Quantitative screening

B
 onds - We select individual bonds by reference
to their date of maturity, liquidity, credit risk and
prospective return relative to risk.
E
 quities - We operate a three stage process for
identifying attractive stocks to buy and, once
purchased, for selecting the right time to sell:
1. A computer model analyses the top 300 UK companies
and identifies those that are undervalued and those
that are overvalued based on each companys price
to earnings ratio relative to the market.
2. Analysis of the strategic direction, competitive
forces and quality of management for those
companies highlighted by stage 1.
3. Analysis of a companys cash flow to identify
whether it is creating value for shareholders.

Investment Process: Asset Allocation

Investment Process: Stock Selection

Funds - We have access to a database containing

performance and other data on more than 10,000
investment managers. We screen funds on the
basis of performance adjusted for risk, liquidity,
quality of manager and the robustness of their
investment processes.
We limit the number of holdings to 25 - 45. This number
provides appropriate diversification but is low enough to
limit costs and ensure that good investment ideas have a
meaningful impact on performance.

Business strategy
analysis

Cash-flow analysis

Performance
monitoring

The result of this analytical

process is a diversified
portfolio of high quality
securities that match your risk
and return objectives.

PROSPECT
WEALTH MANAGEMENT

Name:

CAROLINE BISHOP

Date of Birth:

04 / 6 / 1966

Occupation:

Company Director

12 case study
The best way to understand how we use these concepts
to manage our clients wealth actively and successfully is
through a case study.
Caroline Bishop is a company director, aged 48, who had
savings of 400,000 intended to pay for a pension in 15
years time. She aspires to growing her savings to reach
a purchasing power of 1.0m over this time, which she
hoped would produce a pension of 50,000 per annum,
assuming a 5% annuity rate at the date of purchase.
After discussions with her financial adviser, she realised
she needed a real return of 6% to meet her goals. After
aligning her risk and return, she decided a portfolio
with 25% in bonds, 65% in global equities and 10% in
alternative investments would be most likely to meet her
needs. That provided her with a total return expectation
of 6% above annual inflation, with a downside risk of 23%
in any twelve month period based on the recent past. She
realised that she had a 50% probability of achieving this
outcome, and a 15% chance that her portfolio would only
grow to 600,000.
The bond investment was made through UK listed
securities. Around half of the bond portfolio was invested
in gilts (UK government bonds) which provided the most
predictable source of return. The balance was in high
quality corporate bonds, which offered a higher yield
than gilts to reflect the additional risk associated with an

investment in a company rather than the government.

The maturities of the bonds ranged from 2 to 25 years,
with an average maturity that was determined by our
expectations of the direction of future interest rate
movements.
The equity component of the portfolio had an average
70% invested in the UK and the remaining 30% invested
in international markets. We believe that this mix provides
the appropriate level of diversification to reduce risk,
whilst at the same time offering opportunities to enhance
returns by investing in overseas stock markets.
The alternative investments comprised exposure to
commercial property, hedge funds and commodities. The
weightings in each asset class were determined by their
respective relative attractiveness.
At the point when this case study was written, we had
modestly overweighted equities whilst bonds and
alternative investments were under-weighted. This
reflected our view that equities were attractively valued
and that company earnings were likely to grow over the
coming year. Bonds by contrast were deemed to be
vulnerable to higher inflation and our analysis led
us to conclude that both property and commodities
appeared expensive.

Investment in the UK stock market was achieved through

direct equity holdings, selected from companies quoted
on the London Stock Exchange, typically with a market
value of 500m or more. This includes the largest 250
companies. There were 25 individual holdings, weighted
according to company size and the relative attractiveness
of the shares.

Asset Class

Bonds

Equities

Alternatives

Market

Benchmark

Portfolio

Gilts
Corporates

25
0

10
10

Sub total

25

20

UK
USA
Europe
Asia

44
13
5
3

48
12
6
6

Sub total

65

72

4
3
3

3
3
2

10

100

100

Property
Hedge funds
Commodities
Sub total

Total

PROSPECT
WEALTH MANAGEMENT

The international equity investments were spread

across the major markets in accordance with the size
and relative attractiveness of each market. We invested
in these markets and in alternatives through collective
investments.

PROSPECT
WEALTH MANAGEMENT

Take advantage of the

opportunities for saving tax...

14 relationships count
An Account Structure to Meet Your
Varying Needs
We can accommodate all of your different investment needs:
Y
 ou may have a variety of liabilities, each with a
different time horizon or a different risk profile. For
example, saving to pay for school fees in three years
time may require a different strategy compared to
investing for a pension in twenty years. Each strategy
may have a different account with a different benchmark.
Y
 ou may wish to take advantage of the opportunities
for saving tax, such as through an Individual Savings
Account or Personal Pension.
Y
 ou and your partner may wish to have separate
accounts and / or a joint account for personal or for
tax reasons.
Y
 ou may wish to have an execution only account for
occasional personal share dealings.
All of these needs can be accommodated within our
flexible systems. Importantly, our reports show both
the individual accounts plus a consolidated valuation,
allowing you to track all aspects of your overall wealth.

PROSPECT
WEALTH MANAGEMENT

How We Charge You

Our annual management charges range between 0.75%
+ VAT and 1% + VAT (though discounts are available for
larger portfolios), which are taken quarterly in arrears. Full
details will be provided upon request with an Illustration
in Cash Terms showing the impact of fees on your own
individual portfolio.

Keeping You in Touch

We send you a valuation of your portfolio each quarter
which includes a report analysing the performance of your
portfolio relative to your benchmark as well as comments
on the investment outlook. If you have any questions
regarding your portfolio you are welcome to call your
investment manager who will be pleased to discuss any
aspect of your portfolio with you. You can also monitor
your portfolio through secure access over the internet.

Other Services
Should you require other financial services we can effect
an introduction to an independent financial adviser who
can provide advice in areas such as:

 ash flow management

C
Pension planning
Inheritance tax planning
Offshore trusts
Trust services
Life assurance

PROSPECT
WEALTH MANAGEMENT

The unique structure of Raymond James allows clients to benefit from the
security and technology of a major global financial services company whilst
still enjoying the investment flair and personal service that only comes from
a boutique.

16 raymond james
investment services
Corporate Profile

Matthew Hunt

Prospect Wealth Management is a branch of Raymond

James Investment Services Limited (Raymond James).
Raymond James is the UK investment management
arm of Raymond James Financial, Inc., which controls
assets of more than 250 billion for over 2.5 million
clients worldwide. Raymond James offers a complete
investment management service that is characterised by a
commitment to exceptional service and exclusive access
to innovative, best of breed financial expertise. With
offices throughout the United Kingdom, Raymond James
has a particular expertise in the delivery of effective
solutions to the complex needs of private clients.

Matthew Hunt formed Prospect

Wealth Management after 15
years experience as chief
investment officer with Close
Brothers Group, Coutts & Co
and Chemical Bank. Matthew
has more than 25 years
investment experience in total
and is an MBA graduate of the
London Business School and a
Chartered Financial Analyst.

The services offered by Raymond James include providing

access to the exchanges of 23 countries; trading in both
UK and offshore funds; as well as clearing, settlement and
custody services.
Raymond James commenced operation during the
second quarter of 2001, and has more than 20,000
client accounts serviced from seventy-nine locations
across the UK, controlling assets of over 3.7 billion
(Dec 2013).

While at Chemical Bank, Matthew developed a

proprietary valuation model (ValueHUNT) that has
proved highly successful in identifying under/over valued
securities. This model forms a core part of the investment
management expertise offered at Prospect.

Contact Us
To discuss how we can help you address your investment needs or to arrange a meeting with one of our advisers,
please contact:

17

PROSPECT
WEALTH MANAGEMENT

Prospect Wealth Management

Plough Court, 37 Lombard Street
London EC3V 9BQ

Matthew Hunt
+44 (0)20 7392 2811
[email protected]

+44 (0)20 7392 2800

www.prospectwealth.co.uk

Tom Ball
+44 (0)20 7392 2815
[email protected]

Important Information
Issued by Prospect Wealth Management. Certain investments carry a higher degree of risk than others and are,
therefore, unsuitable for some investors. The value of investments, and the income from them, can go down as
well as up, and you may not recover the amount of your original investment. Past performance is not a reliable
indicator of future results. Where an investment involves exposure to a foreign currency, changes in rates
of exchange may cause the value of the investment, and the income from it, to go up or down. The taxation
associated with a security depends on the individuals personal circumstances and may be subject to change.
The information in this document is not intended as an offer or solicitation to buy or sell securities or any other
investment or banking product, nor does it constitute a personal recommendation. The information shown is
believed to be correct but cannot be guaranteed. Any opinion or forecast constitutes our judgment as at the
date of issue and is subject to change without notice. The research and analysis in this document have been
procured, and may have been acted upon, by Prospect Wealth Management and connected companies for their
own purposes, and the results are being made available to you on this understanding. Neither Prospect Wealth
Management nor any connected company accepts responsibility for any direct or indirect or consequential loss
suffered by you or any other person as a result of your acting, or deciding not to act, in reliance upon such
research and analysis.
Prospect Wealth Management (PWM) is a trade name of Raymond James Investment Services Ltd
(Raymond James) utilised under exclusive licence. Raymond James is a member of the London Stock
Exchange and is authorised and regulated by the Financial Conduct Authority. Registered in England
and Wales, number 3779657. Registered office 77 Cornhill London EC3V 3QQ.

PROSPECT
WEALTH MANAGEMENT

PROSPECT
WEALTH MANAGEMENT

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www.prospectwealth.co.uk