A&H Magazine Q3 22

Interesting People We mark the 40th anniversary of the Falklands War - Major (retired) Jim Bolton shares his incredible story with us.

Q3 2202

'Unreservedly Andy' - This quarter, CEO Andy Oliver takes part in a 'quickfire' set of questions and shares some anecdotal memories |  Pages 5 - 8 Trends in 2022 - The Cloud |  Page 10 The Queen's Jubilee - Bunting Galore for HRH |  Pages 11 & 12 Livraria Lello - A look at the world’s most beautiful bookstore |  Pages 15 & 16 Vermillion - The colour red |  Pages 17 & 18 Keylu - Interview with CEO and COO of Keylu|  Pages 21 & 24 Eau de Nil - From F&M to Egyptomania. The story behind this famous colour |  Pages 25 & 26 FEATURE ARTICLE 'Interesting People' - Interview with Major Jim Bolton on the 40th anniversary of the Falklands War |  Pages 27 & 32 Rise of the Finfluencer - The danger of following financial guidance from unqualified people |  Pages 33 & 34 Q&A with Alex Herr - Head of PCC Wealth Network |  Pages 35 & 36 World's Most Expensive Car - Mercedes Benz SLR 300 Coupe |  Pages 37 & 38

Disclaimer: Please read The information contained herein is proprietary to Private Client Consultancy and/or its contents providers. The information or any part thereof may not be copied, produced, or redistributed without the express permission of the CEO of Private Client Consultancy. We do not guarantee the reliability or completeness of any information provided. However, the content has been collated from what we view as reliable sources at the date of publication. The contents of this publication do not provide any financial, investment, or professional advice, nor are they intended to. The pages of this magazine shall not in any way be regarded as an offer or provision of financial, investment, or professional advice. Private Client Consultancy, its directors, officers, managers, employees, agents, affiliates, and/or subsidiaries accept no responsibility nor liability for any errors, omissions, inaccuracies (including those caused by a third party), loss or risk (personal or otherwise) which is incurred as a consequence, directly or indirectly, of the use of any information contained in this publication. Design, Editing, Production, Publication. Creation, and Layout by Tracey Brady Private Client Consultancy A&H Magazine is published by Private Client Consultancy. This publication may not in whole or part be lent, copied, photocopied, reproduced, translated, or reduced to any electronic medium or machine-readable form without the express written permission of the publisher. Page 3 Private Client Consultancy

The magazine may include facts, opinions, views, and recommendations of individuals and organisations deemed of interest. Private Client Consultancy does not guarantee the accuracy, completeness, or otherwise endorse these views, opinions, or recommendations. Readers are responsible for their own investment decisions, and we would advise that they speak to their professional advisers prior to making these decisions. This material is for information purposes only and does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for a transaction in any financial instrument. Always seek professional financial advice before investing. The information provided and contained in this magazine are believed to be reliable but are subject to change without notice. Private Client Consultancy makes no representation as to the completeness or accuracy of the information or of any opinions expressed. A&H Magazine/ Q1, 2022 www.pccwealth.com Private Client Consultancy Page 4

Unreservedly Andy Asking Andy Oliver, \"What would you like to discuss for the next quarter's edition of A&H?\" The response is typically along the lines of... \"What would you suggest?\" The original draft of questions planned for this edition turned out to be a little on the 'too serious' side along with the threat of boring our readers. Andy was looking for a different approach this time. An approach that truly reflected the unreservedly part of 'Unreservedly Andy.' A piece that was maybe a little further away from what might be expected from him, with an added element of fun added to the process, as well as giving our readers (that would be you) a peek into who Andy is minus all the business stuff. This way we can also see what really makes him tick, and more importantly, what makes him laugh. After all, we have to keep the old man happy, don't we! \"What's that Andy? Yes of course I'll be sure to delete that part before publication.\" Almost instantaneously, we settled on a quick fire round of random questions. Questions that would give you a glimpse into his passions, likes, dislikes, and most other things in between. The kind of questions you'd want to use as an ice-breaker if you were given the opportunity. Therefore, a set of ten questions followed by a few additional questions where a longer answer would be required was the agreed aim going forward - however ten soon became nineteen, and they simply couldn't be cut. This is the result! \"Okay Andy, are you ready for the 'quick-fire' round?\" Andy: \"Go for it!\" 1 What is your favourite past-time/hobby? Answer: Spending an hour at the gym each day. 2 Favourite book? Answer: Papillon. 3 Favourite word in another language? Answer: Ciao Bella! (You do know that's actually two words, right?) 4 Person who most inspires you. Answer: Muhammad Ali. 5 Favourite time of the year? Answer: Spring. 6 Favourite meal? Answer: Steak, fries, mushrooms, tomatoes and sweetcorn. With a dollop of mustard. This was the meal my Mum used to cook every Thursday night. Just before Top of the Pops came on. 7 Name something you’d love to have done in your life but didn’t. Answer: Nothing springs to mind right now. 8 Best day? Answer: There's so many – but outside of the kids being born, marrying Hollie. 9 Worst day? Answer: My Dad passing away. 10 Favourite subject in school? Answer: Spanish. 11 What were you afraid of as a kid? Answer: The dentist. 12 Favourite movie? Answer: Forrest Gump and Armageddon. 13 First job and at what age? Answer: Selling scratch-cards at Roker Park football ground, free entry to the game and a bit of pocket money. I was 14. Page 5 Private Client Consultancy

What never fails to make you laugh? 14 Answer: Only Fools and Horses: Time on our Hands episode where del Boy faints and 5 minutes later Rodney does. And the scene where they are telling the boys down the Nags Head – priceless! 15 What are you most looking forward to? It could be next week, next year, or in ten years from now? Answer: I look forward to many things. I owe Hollie another honeymoon in the Maldives. We have just bought a ruin in Portugal to reconstruct and look forward to when the project comes to fruition. I look forward to when the kids school fees stop. I look forward to seeing them grow into young adults and make their own way in life. I also look forward to when Sunderland Football club eventually win the Premiership and Champions League. 16 In your opinion, what would you say are ‘the two types of people in this world?’ Answer: Talkers and Doers 17 What job would you be terrible at? Answer: A librarian. 18 If your childhood had a smell, what would it be? Answer: Dandelion and Burdock drink. 19 What do you want to be remembered for? Answer: Trying my absolute best at anything I do. That was great! Now we are going to shift gears slightly and give you more time to answer the next few questions. You can elaborate as much as you like here. Q: It’s commonly known for its discipline Q: What do you think those closest to you I took some clients out for dinner one and character shaping. Tell us about your would say are your strengths and evening, as a group, and there was one time spent in the Army and how it shaped weaknesses, and would they be correct? person who couldn’t attend, so I promised you for the career you chose to pursue. that on my next visit I would take him out Strengths: determination, problem solver, by himself. To protect the innocent, I’m I wanted to join the Army from about age work ethic, technically strong. Weaknesses: going to call him John. He was in his early 15, after a visit from the Schools Liaison Lack of patience, a sore loser. And yes, they seventies, and as it was winter we struggled Officer. would be correct! to find a restaurant that was open. He then suggested a restaurant he knew but hadn’t I attended RMAS for Officer Training after Q: Many of your clients have been with visited for years. completing my degree and then joined the you for years, and those friendships have Parachute Regiment as an officer. Some of blossomed and grown. Would you like to So, I drove with him to this place. John the training was really tough and was hard share a few of your most memorable and went in first and sat at a table. After two work. Parachute selection was equally as anecdotal client moments with us? or three minutes, it dawned on me that this tough and perhaps even more character was no longer a restaurant but a house of shaping than officer training. One of my favourite memories was with an ill repute, and before I could tell John, a elderly client in the UK a number of years scantily clad “waitress” appeared at the The armed forces taught and developed ago. I had never met him before and he table. John immediately asked for the menu. lots of good qualities: discipline for sure. was the most fascinating individual, having Obeying orders and instructions without worked in his younger days in different Suffice to say, we ended up in McDonalds a second thought. Logical thought parts of Africa. He had built railways in for dinner. I had never laughed so hard in processes. Africa, been involved in numerous conflicts, all my life. had written novels, and was one of the The ability to operate under pressure and most heartwarming people I had met. My final one involves a client who hailed when fatigued, amongst others. It also from West Yorkshire and had a very heavy ensured that a sense of humour was At the end of a couple of hours of chat we Yorkshire accent. Our receptionist, developed, as well as the ability to “hurry got down to business. He wanted to invest Margaret, also hailed from the same region up and wait”. £250,000 into something, so we decided and had an equally heavy Yorkshire accent. on the investment strategy and tax Perhaps the quality most useful in financial wrapper. Office banter dictated that a cheeky young services was the trait of obeying Andy would often mimic Margaret’s accent, instructions without questions. It meant As we were completing paperwork, out which could make Margaret annoyed from that when I was being trained in financial came his cheque book and he asked me time to time. I was working at my desk services, I followed the instructions that who to make it payable to. As a quip, I when said client called in to speak with the training team and my managers gave replied with “Andy Oliver’s holiday fund”. me, and Margaret picked up the phone. me (no reinventing the wheel, no thinking I I quickly followed it up with the name of knew better, no thoughts of experimenting the correct payee but he didn’t hear me. The conversation went something like this with a more modern approach). I just did as So I waltzed out the door with a cheque ... I was told – and funnily enough, it worked. for £250,000 in my name. cont: Needless to say, the compliance officer was not amused when the case was checked. Private Client Consultancy Page 6

“Morning, Can I speak with Andy Oliver please love?” Margaret, firmly believing it was me pranking her, replied... “Oh, p*** off Andy,\" and put the phone down. At that precise moment, I entered the reception area where Margaret was sitting. My only regret was not having a camera to take a photo of her when she realised what she had just done. The client’s reaction was immense – he saw the funny side of it and insisted he meet Margaret. He also wrote a letter to the CEO for having a great policy for employing strong minded, no-nonsense Yorkshire lasses. Q: What advice would you give to your I'm not sure that I have recently formed Q: What is something you think people young self? opinions on anything major, but the one topic should absolutely do at least once in their I have formed stronger opinions on is over lives? Believe in your own ability. Do what you the environment and what that means for enjoy doing because that’s the thing you’ll future generations. Whilst I am no fan This is a really difficult question and my be good at; and don’t live your life just to of Greta Thunberg and the nonsense she mind has lurched from the wild to the please other people. Have as much fun as spouts, nor would I class myself as an eco- ridiculous and back again. I know that every you possibly can, and don’t take life too warrior, I do nonetheless believe that our adult reading this will have a wry smile on seriously coz you’ll never get out of it alive. responsibility as the human race is to make their face and will start to reminisce a little this issue a priority – even when there is a thinking “I’m glad I did that”. But the one Q: What would you honestly say you take personal cost. thing I would recommend is to go on Safari for granted? and see those majestic wild animals as close Lifestyle changes should be encouraged, up as possible in their natural habitat. I’m not sure I take anything for granted. and education on the damage we are I saw my parents have to work so hard to wreaking on our planet needs to be ramped Q: Slightly morbid for some, but it doesn’t achieve (and they achieved a lot) as well up. I feel really strongly about the overuse have to be! What would you want your as having to make sacrifices along the way of plastic, the slow rate at which the epitaph to say? that I think one of my early life lessons was automobile industry is responding to not to take much for granted. producing cleaner cars and the amount of \"I danced with life to the end. NIMBYism there is when we look to slow Goodnight!\" Q: What have you only recently formed an down the rate of pollution and environmental opinion about? damage. Page 7 Private Client Consultancy

Carpe Diem 'Seize the Day' Private Client Consultancy Page 8

Did you know? Warren Buffett’s net worth at age 52 was only 0.3% of its current value. Warren Buffett, considered to be the world’s most successful investor, made 99.6% of his $87.5 billion fortune after the age of 52. As much as $72 billion of his wealth came after he turned 65. He started investing at the tender age of 11 and filed his taxes for the first time when he was just 13. Page 9 Private Client Consultancy

Trends in 2022 While we are still only in the beginning stages of industry-specific cloud adoption, it is a growing trend many firms are watching and preparing for. What is.... THE CLOUD by Jordyn Austin Cloud computing refers to a set of servers that It is both expensive and time-consuming to create can be accessed over the internet, as well as all cloud ecosystems for individual companies. databases and software that use those servers to Vertical clouds, however, allow for streamlined run on. By having data centers all around the world compliance, easy access to data, and quick housing these cloud servers, companies no longer transfers. Proponents of the cloud argue that have the need to manage physical servers or use this increases opportunity and revenue. their own machines to run applications on. What issues does industry cloud adoption pose? How does the cloud help with business operations? Some users assume that the cloud handles all IT tasks, but this is not the case. While industry The cloud allows businesses to operate on a global clouds provide guides for vertical transformations, scale more easily. Anyone involved at a company they often do not offer data backups or even can access their applications and files from comprehensive data protection. anywhere in the world. To compensate for this, companies will still need Because businesses will no longer need to maintain to perform their own internal security analyses. their own servers, it also reduces some overhead Especially as organisations implement multi-cloud costs. systems to make their daily tasks more efficient, these environments must be a focal point that is Industries that are highly regulated are finally closely monitored. starting to implement cloud-based solutions. In the past, organisations that require mission-critical What does this mean for markets? data to be tightly secured (e.g., insurance companies, banks, etc.) have been slow to move Despite the challenges that may come along with computing functions out of their own data centers. new innovations, financial institutions are moving These companies will soon need to implement more towards applications based in the cloud. cloud initiatives if they want to offer competitive costs and engage more effectively with customers. The current cloud market is $1 trillion. Financial firms estimate that 65% of the market would Vertical clouds—sets of cloud computing services benefit from industry clouds. Larger companies optimised for specific industry use—are facilitating like IBM and Goldman Sachs are now starting to this shift for the industries that require unique introduce cloud-based models. If this continues, solutions. Firms with niche requirements have been there is potential for a $640 billion market. hesitant to make the switch, as the reasons for why a company would pay another firm to run a data centre rather than have their own were convoluted. Private Client Consultancy Page 10



It was Bunting Galore for HRH Queen Elizabeth II Just like the good old days \"When it comes to how to mark Queen Elizabeth II was back at It's not just a tribute to the Queen, seventy years as your Queen, there Buckingham Palace on Sunday June but it really punctuates our own lives is no guidebook to follow. It really is 5th after spending much of the as much as it does hers. We share the a first. But I have been humbled and Platinum Jubilee weekend at Colour of the Irish Guards with her as deeply touched that so many people Windsor Castle. they troop at Horse Guards Parade, all have taken to the streets to celebrate while brass-buttoned and polished my Platinum Jubilee,\" Queen Elizabeth The 96-year-old made two in-person booted military bands play in perfect wrote. \"While I may not have attended appearances during the celebrations pitch and formation ... just as one every event in person, my heart has of her 70-year reign: at Trooping the would expect. been with you all; and I remain Colour on Thursday, and later that committed to serving you to the best same night at the lighting of the 'Hip Hip - Hoorah,' HRH of my ability, supported by my family.\" Platinum Jubilee beacon. \"I have been inspired by the kindness, Queen Elizabeth's return Sunday to joy, and kinship that has been so Buckingham Palace was marked by evident in recent days, and I hope this the raising of the Royal Standard, renewed sense of togetherness will which, for those who don't know, is be felt for many years to come,\" the the flag that is flown when the queen queen continued. \"I thank you most is in residence. sincerely for your good wishes and for the part you have all played in these The Queen is a huge public figure on happy celebrations.\" the global stage who has been there through most of all our lives, and now The Queen signed her message with shared a moment with us that we are her first name, Elizabeth, followed by not going to see again in any of our the letter R, which stands for Regina, lifetimes. the Latin word for queen. Private Client Consultancy Page 12

PROPERTY INVESTING A LOOK BACK IN TIME While the UK celebrated the Queens 70th year running the firm, Business Development Director, Andrew Davies of API Global, gave us an insight into how house prices have changed between the Queen’s Silver Jubilee in 1977 - and today. The housing market today is almost unrecognisable from what it was 45 years ago when the Queen celebrated 25 years on the throne. Now, in the Queen’s Platinum Jubilee year, it is interesting to take a look back at how the UK property market has performed Andrew pulled together the statistics using Land Registry data to look at the state of UK house prices with each royal milestone year. It starts with 1977, when the Queen had already spent 25 years on the throne, and the average property cost just £10,926. Fast-forward to today, and this has risen to a whopping £276,755 – an increase of 2432%. But a lot has also happened in the years in between. House Prices at each Milestone The biggest jump in house prices from one The next milestone was just five years later While the growth in house prices has been positive for homeowners and property Jubilee milestone to the next was between 1977 in 2017 (Sapphire Jubilee), but house prices investors over the years, it may be daunting to new buyers. However, with price rises being (Silver) and 2002 (Golden). During this 25-year had again surged to £221,833. This equates to maintained over such a long period of time, ultimately any property you own is likely to period, property values shot up by 937% from a 1930% increase since 1977, according to increase in value in the long run. £10,926 to £113,304. Mortgage Advice Bureau. Mapping out the average house prices in each landmark year of Her Majesty's reign shows the Over the next 10-year gap, though, they Finally, the report notes the 2432% increase massive surge that has happened. And many climbed at an even faster rate annually. that has brought today’s property prices up to will be questioning how much further house £276,755, which is £265,829 from where they prices will rise. By 2012, the Queen’s Diamond Jubilee, prices first started. had climbed by £102,378 to £170,049 – 1456% from where they first started. Buyers shouldn’t be disheartened The Future It’s important that buyers don’t get too disheartened by the fact that house prices have continued with their extraordinary growth rate, rather that there are many ways you can get onto the property investment ladder with certain areas looking very strong - over the next few years at least. Page 13 Private Client Consultancy

Region  2021  2022  2023  2024  2025  Overall  North West  10.5%  4.5%  4.0%  3.5%  3.0%  28.0%  North East  8.0%  4.0%  3.5%  3.5%  3.0%  24.0%  E. Midlands  9.0%  4.0%  3.5%  3.5%  2.5%  24.0%  W. Midlands  9.0%  4.0%  3.5%  3.5%  2.5%  24.0%  South East  9.0%  3.0%  2.5%  2.0%  1.5%  19.0%  7.0%  2.0%  1.5%  1.0%  0.5%  12.0%  London  *Source- Savills While there are great areas to invest in all over the U.K., as a general rule of thumb, it often makes sense to look towards the north and the midlands, which has cheaper property with higher rental returns. Many people like to invest in London because of the rate of capital appreciation, but I believe it is never sensible to rely on this. I prefer to invest for cash flow; that way, if the market turns against me, I can happily hold on to the property while it generates profits. Even if capital appreciation is your main concern however, it is better to buy somewhere that has bottomed out and is trending upwards rather than somewhere that has already boomed and at some point will be heading back the other way. Find the hidden gems that are seeing new employers open up or that are in the process of being regenerated. That way you can benefit from both cash flow and rising prices. Remote Investing It makes sense to find an area that you can get to know and understand the property market in. But is doesn’t have to be where you live. The area you live in may not have the high-return properties you are looking for, or be otherwise unsuitable. People get too emotionally invested in buying investment property. It should be a cold, non-emotive decision. It shouldn’t be your aim to manage everything yourself, so it is actually better to invest away from your home. This removes the temptation to sort out problems yourself rather than building a power team and systemizing the business. I always say, \"Buy sensible, rent high  with a property manager nearby.\" When you have good local contacts (property managers, cleaners, builders, estate agents), the amount of time you need to be involved should be minimal. If you buy in the right areas and put the right team in place, property investing in the U.K. can be hugely profitable. Of course, all this takes time to learn, and it is important to seek out high-quality professionals. Most important to remember is: It is never a case of timing the market. But time in the market that counts. Private Client Consultancy Page 14

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Livraria LelloSetting the Whole World Reading A look at the world’s most beautiful bookstore Porto, Portugal Nestled between clothing shops and restaurants The inside of the bookshop is of an Art While the bookstore is one of Porto’s most in Porto, Portugal's second-largest city, sits what Nouveaux style, elaborately decorated with popular tourist attractions both for its stunning has been called the world’s most beautiful carved arches, a grand crimson staircase fit for interior and exterior, Livraria Lello has not bookstore by publications like The Guardian a king, and an ornate stained-glass ceiling. forgotten that its cultural significance and and Lonely Planet. history are rooted in literature. The owners The building was classified as a “Monument of have kept the original busts of several Livraria Lello’s origins date back to 1881 when Public Interest” in 2013, and it was described as Portuguese writers which honour the heart and literature enthusiast José Lello founded his first one of Portugal’s most important buildings of soul of the building and its initial purpose. establishment dedicated to book commerce. 15 “eclectic architecture” as it integrates joinery years later, his brother António joined him in and stained glass which is unparalleled Today, the bookstore is a cultural landmark the endeavour, and the two opened what the anywhere else in the country. where art lovers of all kinds can congregate. world knows today as Livraria Lello. They not only host book-related events, but However, it is not only the aesthetic features they also welcome art installations in an effort Designed by the talented engineer Francisco that make Livraria Lello special. From 1920 to to contribute to the heritage of Portugal’s Xavier Esteves, the bookstore is an emblematic 1950, the store became one of the top cultural institutions. example of neo-Gothic architecture. Neo-Gothic, importers and exporters of literature in the or Gothic Revival, architecture is marked by its country. It was the first to offer the entire Offering a wide selection of books and even use of pointed arches and structures that are works of Shakespeare, among other notable antique and rare editions, it is evident that often tall, as though their highest points are authors, translated in Portuguese. Livraria Lello has remained true to the Lello reaching for the sky. The dramatic white brothers’ mission of setting the whole world building certainly stands out amongst the reading. surrounding urban area. Page 16 Private Client Consultancy

VERMILLION We discover its origins

by Jordyn Austin The Colour Red has represented some of humankind’s most complex experiences: love, anger, power, and sacrifice. Also associated with victory and health, the colour’s versatility is perhaps what gives it the ability to elicit such strong reactions from people all around the world. But how did the evocative and symbolic colour come to be, and how have the different variations of red evolved throughout history? One of the oldest forms of red paint comes It is thought that China was the first Image: The Maya capital of Palenque included from red ochre. Red ochre is a clay whose country to produce synthetic vermillion, as the famous \"red lady\" burial, a royal personage red hue derives from hematite, an oxide there is evidence it dates to 4th century BC. whose body was coated with cinnabar, mineral. The mineral’s name comes from Because of this, the colour is often referred accounting for the vermillion interior of the the Greek word for “blood.” Red was easily to as “Chinese red”, a brilliant colour sarcophagus. obtainable, as it could be found in nature. thought to symbolise good fortune and life. Because of this, it was one of the only colours, along with white and black, that Arab alchemists brought the paint to was used during the Palaeolithic period. Europe, which was subsequently used by painters during the Renaissance period. Red ochre dates to prehistoric times. Cave Of all the red pigments, vermillion was the paintings in Altamira, Spain, which date most popular throughout the 20th century. between 15000 and 16500 BC, used this However, because of its toxicity and high clay. Traces of red ochre can also be cost, many artists switched to cadmium. found in ancient Chinese pottery and on a painter’s palette inside King Tut’s tomb. While methods for obtaining red pigments have often been unethical, what has This special clay was not only turned into remained true throughout the historical paint. It was also used as make-up. Women use of the colour is the fact that it has often put it on their lips and cheeks, and for always indicated luxury. During ancient celebrations, people used it to colour their times, temples and emperors’ carriages bodies with the pigment. were painted red. During the 16th century, Princess Elizabeth I wore a red dress to Another red pigment named after the convey her strength and regal majesty. mineral it is made from is cinnabar. Today, it is the iconic colour used by Though highly toxic, cinnabar was a designer Christian Louboutin for his favourite of Ancient Romans who used it signature red-soled heels. to decorate. Because of the strong demand, it came with a high price tag and was even Evidently, red is far more than a colour. more expensive than African ochre. Revolutionaries from the Cubans to the Bolsheviks used red to represent their Vermillion, not to be confused with desire for a new kind of liberty and synthetic vermillion, was often produced freedom. from cinnabar during ancient times. Most cinnabar used throughout the Roman Therefore, not only does it signal wealth Empire came from the Almadén mines in and elegance, but it is also the unrelenting Spain. It was usually prisoners and slaves emblem of perseverance and vigour. who were forced to mine for the mineral, which caused them to be exposed to the harsh toxins. Page 18 Private Client Consultancy

Lapsus$ Gang Teenage Cyber Criminals

by Jordyn Austin Lapsus$ is the latest group of cyber criminals that has gained notoriety. While many are calling them a ransomware gang, Lapsus$ What makes Lapsus$ unique is the fact that they make no attempt doesn't use traditional ransomware tactics, like installing at hiding. Or rather, they are hidden in plain sight and have made malicious software to prevent victims from accessing important their presence explicitly felt on the alternative social media site, files. Instead, they use phishing methods to gain access to their Telegram. It is there that they target their victims, make victims—many of whom are high-profile, such as Vodafone and accusations, and leak sensitive information. This has resulted in Microsoft. By using this strategy, Lapsus$ can steal the most a severe escalation of threats within an industry that is already sensitive data without using any sort of data-encrypting quite lawless. malware. Because the group uses a legitimate app like Telegram to broadcast the identities of their victims, Lapsus$ can ensure they will see little disruption. Anyone with access to the internet can witness their operations. When the group first emerged onto the scene back in One Lapsus$ member wrote on Telegram that they are December of last year, they were primarily targeting not a political group, and their only motivation is money. Portuguese-language media giants and telecoms in Portugal However, researchers assessing the recent attacks are not and South America. In some cases, they rendered these taking the statement at face value and will further companies’ services and websites useless for a period of investigate. time. One analyst said that because the group has not yet used For example, they redirected visitors trying to access the ransomware to extort their victims, it cannot be confirmed website of a Brazilian car rental company to an adult media that Lapsus$ is financially driven. Instead, he argues, they site. This problem lasted for a couple of hours until the are seeking out influence. Another says that because one of company was finally able to fix it the group's schemes in mid-February was centred around cryptocurrency mining, it is possible they are motivated by The Lapsus$ approach has been both unusual and profit even if they are taking a less traditional approach to unpredictable, which leads some threat analysts to believe cybercrime. that while they may be talented hackers, they are not very experienced. Recently, however, they have been gaining Because the group is largely made up of young people, more confidence and expanding to breach companies like another motivation is street credit and being able to brag Samsung and leak valuable source code. to their friends about their antics. Many of the people involved are doing it purely for recreational purposes and Perhaps the reason Lapsus$ is not so experienced is because seem to revel in the chaos. This is evident in the fact that many of its gang members are teenagers. BBC reported in one of their typical scam methods involves running polls March that London police had arrested seven people on Telegram where users can vote on which victim’s data between the ages of 16 and 21 who were suspected of being should be leaked next. involved with the hacking group. Moving forward, Big Tech companies will surely be on high At the end of March, a 16-year-old from Oxford was alert. Lapsus$ has made it clear that no company is too big accused of being a leader of Lapsus$. to be out of their reach. This teen, whose online moniker is “White,” is alleged to To protect yourself or your business against cyber have made over £10 million from hacking. Apparently, cyber- criminals, it is vital to use lengthy and complex passwords. security researchers have been tracking him for a year. Additionally, passwords must be changed the moment they are compromised. The motivations behind the group are unclear. Page 20 Private Client Consultancy

They care because been there they’ve

The Key to Life Planning Jordyn Austin, Marketing Assistant for Private Client Consultancy, sat down with Keylu CEO Ian Dibb and COO Sarah Wilkinson to discuss how their innovative platform is facilitating family planning. A huge part of achieving financial freedom is utilising all the resources available to make life that much easier. That’s why Private Client Consultancy has partnered with Keylu. Not only do Keylu make life and end of life planning hassle- free, but they also make planning for the everyday accessible to everyone. Jordyn (J): Could you please tell us your story and S: I’d echo that. I don’t think anyone really S: And if you’ve stored all the important how you came up with the concept of Keylu? appreciates how hard it can be for those left information in Keylu, everything your family behind until you experience it yourself. When could possibly need to know is there for them Ian (I): We founded Keylu after I lost my sister you lose a loved one it really hits home how to help them through the grieving process and Jane when she was 28 and two years later, I lost important it is that you have those things to to organise the estate. When you’ve experienced my mum to cancer. It was during the process of look back on and cherish. We’re all capturing this, you really appreciate how difficult it can be dealing with their funerals and the estate moments every day and storing them in various and how the simplest of decisions can often administration afterwards that I realised that the places. We end up with so much that things are become the toughest. one thing which is guaranteed to happen to all of easily lost, forgotten, or it can be impossible to us is something many of us fail to prepare for. find what you’re looking for. J: Right. The last thing you want to do is be frantically organising and dealing with J: The name Keylu makes me think of a physical Keylu allows you to capture the important events bureaucracy when you’re grieving. And of key, so I’m wondering where the name comes and information, making it easily accessible to course, managing the numerous aspects of from. you on a day-to-day basis whilst also ensuring life can be so overwhelming and stressful for that those you love can be given access to the people. How does Keylu remove some of these Sarah (S): You’re right. We wanted a memorable information they need at a point in time when pressures? name that encompassed everything. The name they’re going to need it the most. comes from the Cornish word “Teylu”, which I: I think if you were to ask someone what means family, and we replaced the T with the K J: That all resonates a lot with me. I lost my dad documents they have and where they are to represent “keys” or “to keep”. It reflects the story a few years ago, and I was going on old mobile located, you would hope that they would have behind Keylu and our company’s heritage. phones of mine to record on my current phone a good understanding. The problem is, if we voicemails that he had left me so that I could remove ourselves from the equation, most J: What is it that makes Keylu special? have those forever. We all have old phones and loved ones would really struggle to find laptops, so to have something in one spot would everything. All too often things are stored in I: There are many aspects. Obviously, the storing have been invaluable to me. filing cabinets, email accounts and with your of all your personal, legal, and financial documents, professional advisors. but probably one of the greatest gifts you can give I: I had that last week. My dad left me two to your loved one is the peace of mind of knowing voicemails, and I was about to delete them, A recent report showed that a quarter of that if something was to happen to you, you’ve but I thought: what if that's the last message I married and cohabiting Britons are in the dark saved them a huge amount of time and pain. I have from him and I’ve just deleted it? over their partner's finances. spend a lot of time capturing precious moments with my daughter—not just photos but key There’s an incredible story about a man who for Over 45% of widows will leave the financial moments in her life. years and years would listen to a voicemail his advisor within the first year of their loved ones wife who had passed away had left on his phone. passing away, as they are often unaware of the As a dad, I just want to make sure I’ve done all I can After many years, the phone company professional relationship. for my wife and my daughter. I spend time curating accidentally deleted it and then spent weeks my legacy so that my daughter’s got something she trying to find that message. That just shows This is a huge issue. can view again and again should something ever how delicate the system currently is. happen to me. No one wants to think about their Keylu stores all this information and puts it into own mortality, but by using Keylu, you are making This is where Keylu really comes into its own. one central safe location to be shared with pre- life easier for those you love. That’s really what selected individuals named as your trusted makes it special. contacts in Keylu at a time they need it the most. Page 22 Private Client Consultancy

S: The benefit of Keylu is that it doesn’t have to include every finite detail. It could purely be signposting your family to the right individuals or organisations, indicating that a pension, life insurance policy or investment exists. That can be so valuable to a family in helping to ensure that nothing is missed. I: You also don’t have to do it in one go. It’s a journey, so you can start off by uploading a couple of your key documents and update it as you go. Image courtesy of Keylu: CEO Ian Dibb with daughter Alice. S: There’s almost this cleansing thing going We say to the client: “This is your S: We do everything on our phones on where because everything is dealt with, information, now if you weren’t here rather than logging onto our laptops. you’ve got more time and space to just tomorrow, who would deal with this?” In the personal sense—in our everyday make the most of quality time with your This gives PCC a unique opportunity to lives. family, doing the things you enjoy doing, build a strong relationship with their not stressing about where you put a client and develop a trusted relationship The mobile app will allow individuals to document or whether anything needs with their next of kin. It's building an make the most of Keylu on a day-to-day updating. With everything in one place, intergenerational relationship and basis for themselves. People’s lives are it’s easy to go in and review it, whether helping clients on their journey from becoming busier and busier, so Keylu that be for yourself or with your Wealth being unorganised to fully organised, can be that little nudge to remind you Manager. It gives you the freedom to do helping to make life easier for them via push notifications that your car’s what you want to be doing. and their loved ones in the future. coming up for an MOT, or your insurance is coming up for renewal. J: I’m thinking now about Private Client J: So, it helps not just the clients and their Consultancy and our relationship with families, of course, but also our Wealth We see Keylu becoming an integrated Keylu. We’re committed to making the Managers in the sense that it catalyses part of people’s lives. client experience seamless, and the other important conversations. strategic partnerships are a huge part of J: Lastly, could you tell us a bit about that. How do you think Keylu adds value Could you tell us a bit about how Keylu what the future holds for Keylu? to the client relationship? is making its desktop and mobile resources inclusive to people who I: We have some exciting partnerships in I: What we’re finding with our partner firms maybe aren’t the most tech savvy? the pipeline. The internationalisation of is that quite often, they only know a limited the site. We’ve got a great platform, a section of their clients’ lives. They may I: We started with our easy-to-use great app, we’re going to add additional have a great understanding of the financial website, and then realised that people features to make the whole process fully and wealth aspects, but what about the also wanted a mobile app. Our team has automated, making it even easier for our other aspects of their lives? spent months developing an app that is users. easy to use, helping people to manage By working with partners like yourselves, their day-to-day affairs, whilst also Our team is also working hard to develop Keylu gives the advisor a holistic view of helping to capture magical moments and enhance the emotive features within the client’s whole life, helping to provide a with friends and family. the platform, helping to make the knowledge link to the next generation. experience more bespoke. Page 23 Private Client Consultancy

We often use the strapline: we care, we’ve been there For every decision we make, every partner we talk to, every opportunity, we ask ourselves: Does it fit with the ethos and the vision of the company? And if it doesn’t, it doesn’t come on the platform. It’s as simple as that. We are not driven by revenue; we are driven by making a difference. - Ian Dibb CEO - In partnership with Keylu, Private Client Consultancy (PCC) clients can take advantage of their Premium Membership. To find out more, visit: keylu partner private client consultancy Page 24 Private Client Consultancy

Eau de Nil The story behind the origins of this famous colour by Tracey Brady Eau de Nil (“water of the Nile”) is a tricky colour to pin down precisely. It is a light-greenish hue that is less gray than sage. On thorough inspection (should you care to), it has tan undertones and a cool bluish cast. It is also, rather confusingly, an entirely different color from Nile green. Nile green is defined as a “pale yellow green” by Merriam-Webster, and a “pale bluish-green colour” by Collins English Dictionary. It is even \"marketed\" as a bright emerald green by Benjamin Moore. And while the color experts at Pantone do have a green prefaced by Nile, they do not have a single color named Eau de Nil. \"Oh, the joy of a mystery!\" Most famously of all, and known the world over for its use of the 315 years on, situated at 181 Piccadilly, the stunningly beautiful statement colour 'eau di nil,' is the truly beloved, most famous building that is F&M attracts millions from around the world to corner-shop of all, Fortnum & Mason of Piccadilly London. And partake in Afternoon Tea, explore the famous Food Halls and it just so happens to be the place that I, the Head of Marketing wind their way up and down the deep crimson velvet carpeted for Private Client Consultancy (PCC) started out in the world with stairs. Everywhere you look, it is resplendent in their signature my first 'full-time' position at the ripe old age of 17 years and a Eau De Nil, capturing the heart of not just mine as it transports tad. We won't divulge when that actually was, but it's safe to say you back in time to the joy and splendor of Old English it wasn't in 1707. decadence, but all those past, present, and yet to come, whose feet have slowly sunk, or have yet to sink, into each luxuriously carpeted step on the F&M staircase that's fit for a Queen. 'Look where I will... I see Fortnum & Mason. All the hampers fly wide open and the green downs burst into a blossom of lobster salad!' CHARLES DICKENS Source images and official crest Fortnum & Mason: Fortnum & Mason plc You would be forgiven for thinking the Scotch Egg originated Here's something else you may not have known. F&M are never too in Scotland, but did you know that it was a Fortnum & Mason posh for a baked bean. Especially when it's a Heinz baked bean. invention? In 1886, F&M had become quite the purveyor in In 1738, with its shop perfectly placed in London for travelers all things tinned, and was the obvious first stop for a young heading west, the young enterprise set itself the task to entrepreneur lugging five cases of samples from the USA. The Heinz capitalise on creating food that was easily portable for long baked bean was quickly recognised as a future household staple, and distance journeys. I mean, who doesn't love tucking in to a so they took the lot - introducing the small but mighty bean to Britain scrumptious Scotch Egg after a long journey or when you're for the first time. feeling a wee bit peckish, wherever you may be? Page 25 Private Client Consultancy

Paris 1849 was in the grips of 'Egyptomania.' A fad that had invaded Egyptomania the arts, design, and the home décor of the upper classes. It's incredible how he describes what he saw. And like the ever- Gustave Flaubert, a young Parisian, traveled inland to Cairo, where changing waters of Flaubert’s Nile, the color itself changes. he hopped aboard a Nile cruise fleeing his homeland on a trip that Sometimes it is yellowish and springy; other times it is bluish and would be life-changing. When he wasn’t snoozing, known for being a murky. 'great sleeper,' Flaubert wrote letters home, many of which would be published years later in a posthumous travel guide to Egypt. Here, he In the introduction to the book Life in Color, the designer Jonathan describes the waters of the great river in tones that sweep quickly Adler writes that the “dusty blue-green” eau de Nil “is wartime from prosaic to awestruck: London. When I see eau de nil, I am transported to the lobby of Claridge’s hotel in London with its signature eau de nil china, its He wrote ... melancholy glamour, its stirring portrait of Winston Churchill framed with an eau de nil border.” \"The water of the Nile is quite yellow; it carries a good deal of soil. One might think of it being weary murmuring the same monotonous Alder's Claridge's is my Fortnum & Mason, they hold meaning for the complaint that it has traveled too far … As the evening fell, the sky one experiencing them, but to the same conclusion as its mystery turned all red to the right, all pink to the left. The pyramids of lingers on with a knowing smile. Sakkara stood out sharp and gray against the vermilion backdrop of the horizon. An incandescence glowed in all that part of the sky, drenching it with golden light. On the other bank, to the left, everything was pink; the closer to the earth, the deeper the pink. The pink lifted and paled, becoming yellow, then greenish; then the green itself paled, and almost imperceptible, through white, became the blue which made the vault above our heads, where there was the final melting of the transition (abrupt) between the two great colors.\" JOHANN JAKOB FREY, SUNSET IN CAIRO, 1846. Page 26 Private Client Consultancy

Interesting People By Tracey Brady Utrinque Paratus ‘Ready for Anything’ For this article I was given the honor of speaking with a good friend and fellow comrade of our CEO, Major (retired) Jim Bolton. Jim took me back in time to an unforgiving landscape and a battle that will stay with him for the rest of his days. Join us as we remember the Falkland’s War, 40 years on. -It’s fair to say that the younger generation today on the most part, have a very glamourised view of what it’s like to be a soldier through video games and movies. But war is not glamourous! War is messy, war is terrifying, and war is bloody. Most of all, and what a video game or movie can never compete for, is that it’s very real, and you don’t get extra lives, the ability to stop and start when you want, or press pause. - Major Jim Bolton - On May 28th, the first land battle took On April 2nd, 1982, the conflict began when The journey began at sea. Upon leaving the place. This was the incredibly gutsy battle Argentine forces invaded the Falkland Islands Intrepid they reached shore, but because of Goose Green which initially left eighteen with claims of an end to 149 years of British of delays they did so in broad daylight with dead in what was described as a massively rule. This was seen as an act of aggression that air raids coming in. Jim remembers how outnumbered attack with none of the support had been committed on British territory, and the young Navy guys couldn’t get the they had expected. To top it off, the BBC Argentina was to be persuaded, by force, if landing craft in. With no time to waste, one World Service had announced to the world necessary, to withdraw. by one they were thrown over the side into (including the enemy) that Britain was about icy water up to the waist before making to tackle Goose Green. Within days, dozens of warships, and their way up the bank to dry land. An thousands of troops ill-equipped for what was arrival, “luckily” for them, that was not Colonel Jones was said to have told his before them, had been dispatched. opposed. group that he would be suing the B****ds when he got back. He never made it. At the time, Jim was a 20 year old Private who Private Jim Bolton was one of the many had served the 1980/81 winter tour on the young soldiers that formed 3 PARA, a After British paratroopers went on to defeat South Armagh border of Northern Ireland a British Task Force deployed to retake the a large force of Argentine troops, this year prior to leaving for the Falkland Islands. Islands. Having landed at Port San Carlos, insignificant hamlet would claim 300 men in He was pumped up and ready for the battle. they would spend a week to tab across the the space of a few hours. After all, it’s exactly what every young soldier East Falkland via Teal Inlet to Estancia signs up for. House, from there, they began to send out patrols to recce the area around Mount Image: The men of 3rd Battalion, the Parachute Regiment, disembark during the landings at San Carlos. Longdon situated approx. 10 miles to the northwest of Port Stanley, the capital of the Falkland Islands. 3 PARA was tasked with taking Mount Longdon at midnight on 11/12 June 1982, to coincide with attacks on the Two Sisters by 45 Commando and Mount Harriet by 42 Commando. Led by Lt Col Hew Pike (now Lt Gen Sir Hew William Royston Pike KCB, DSO, MBE), 3 PARA found themselves in the bleakest of terrains with nothing but flat planes of sodden moss and peat bogs as far as the eye could see. The biggest enemy at that point was not the Argentinian’s but their standard issued DMS boots that were made of compressed cardboard and proved to be a useless piece of kit from the get-go. The incredibly arduous advance across East Falkland would take out several men to hypothermia, blistering sores, and the dreaded foot rot. Trying to take cover would mean clawing into the ground in a bid to dig a one-person ‘slit trench’ to lie below the shell fire that was unceasingly whipping the air directly above their heads. If a hand were raised; it could be lost. And sleep, if any, would not come easy. Page 27 Private Client Consultancy

\" Sleep, you know,\" said a Scottish sergeant-philosopher, \"is one of God's greatest gifts, and you must accept it whenever you can.\" Jim and his fellow comrades had spent the week prior to the attack patrolling the area from their base close to Murrell Bridge until they finally moved in to begin the attack in wet and freezing temperatures. Mount Longdon is a long and narrow feature of This is it! The headlines By this time, 3 PARA had been fighting for ten rocky terrain, running from east to west with reported. hours straight and they would remain under two summits. B company had received their heavy artillery fire for a further 36 hours from orders to advance. As a result of its geography Following an immense explosion north of the Mount Tumbledown. During this period an only one company attacking could advance mountain which was later revealed as a platoon additional four men were killed. along it. Ascending the craggy face of Longdon hitting (and surviving) a minefield, chaos in single file while snaking their way between ensued. Fighting and gunfire was intense in all June 14th, 1982, a formal surrender is agreed. monstrous boulders toward the summit, they directions as it erupted and escalated in a had become easy picking for the enemy. cacophony of noise, resulting in some of the The presentation of the Falklands war has been harshest, deadliest, and bloodiest close-quarter carefully sanitised for good reason. Pictures The bloody and brutal conflict was extremely fighting experienced by British troops since the along with the descriptions of casualties have hard for 3 Para as the Argentine forces – the Korean war. The sky lit up like a furnace, been purposefully discreet, and rightly so, for 7th Infantry Division – used machine guns and streaked with rapid and unceasing gun fire that the sake of the relatives, the mums, and dads sniper fire. Because of this, they found their came and went, and came again. A literal pit of especially. To attempt to describe some of the ascent up Mount Longdon painstakingly slow. Hell had opened on earth and all the noise and more horrific sights and sounds of a war, even It was Sergeant Ian McKay who opted to lead chaos that went with it rained down on them now, would be wrong and unkind, but the an attack on an Argentine machine gun siting. from every direction. ballooned faces of badly burned men whose While the attack was successful and the British clothes had been welded on to their bodies by troops were once again pushing forward, The overwhelming mood among the men was the searing flash of an explosion, and the McKay lost his life and B Company took always one of comradery, and the trust in one screams in the night can only be known by the numerous casualties throughout their assault. another was pure in every sense. Jim knew soldiers who were there and imagined by those without fault that the man behind him had his on the outside looking in. These moments, A Company, the Company Jim was with, back, and the man in front of Jim, knew Jim sounds and smells can never be erased from the received orders that they would take over from (without fault) had his. There was little time to memories of those who saw and heard them - B Company and continue with the assault. A be afraid, they had been trained well, and that nor should they, for this was and is so often the Company did this, fighting through enemy training when it kicked in provided the courage price of victory in a bloody campaign. And this positions until the mountain was taken. and fortitude to do what they were trained to was all of that. A very bloody campaign. do in an instant. These incredibly brave young men, whose kit The Battle of Mount Longdon cost 3 PARA was predominantly second-hand and fit only for Jim witnessed unspeakable horrors committed twenty-three dead, including attached the rubbish dump, went to war clothed so against human flesh through unimaginable personnel, and forty three wounded. Accounts poorly protected, wearing fiberglass helmets injuries, and to this day, he has never been vary on the Argentinean casualties, with made for a parachutist’s landing and not metal able to shake the sweet (that turned rancid) between thirty to fifty killed, a similar number bullets. In fact, the equipment was so shockingly smell of blood that permeated his very being. taken prisoner, and up to one hundred and inferior, an average police officer on the streets twenty wounded. of London seemed better equipped for the job in Mount Longdon was taken by 1100hrs on hand than they were. June 12th, 1982. Page 28 Private Client Consultancy



Image: The capture of Argentinian soldiers To be able to share one man’s experience was an absolute honor for me. To be able to sit down with a man who so humbly spoke of the part he played in the Falklands war is not a story you would suddenly find yourself telling in everyday life. The story of a man whose best friend, a 19-year-old, lost their life there. Jim is a man who can share the jokes with a smile and a glint in his eye, then catch a breath and go on to describe the horrors of that bloody and fierce battle with an unwavering calm and eloquence, ever mindful of others (his comrades) above himself in the conversation. The morning after, the peak of the mountain and beyond revealed itself slowly with the rising sun, announcing a new day. The once ominous crevices and shadows all but disappearing. It was beautiful and proud in its own right, hiding secrets in the frozen ground beneath the feet of the living as it groaned with the blood of the lost. Jim sat in contemplation for a moment and smoked a cigarette from a discarded pack he found on the ground. “I didn’t even smoke.” He added. \"I tried desperately not to interrupt Jim as he shared his story with me. We spoke for almost two hours non-stop, yet it seemed a fraction of that. I could have listened to him right through to the afternoon - and told him as much.\" Image: Private Jim Bolton smoking a cigarette at the base of Mount Longdon, moments after the Argentinian surrender. Image: Mounted helmets of the fallen - Pte Laing and LCpl Murdoch Page 30 Private Client Consultancy

Image: Temporary graves for the fallen. Mount Longdon. Image: Jim Bolton (left) - Falklands 40th Anniversary Reunion 2022 Those who never made it back were conveyed in images Other ranks held by Major (retired) Jim Bolton that words could not. Images of lone helmets perched on the butt of a rifle that stood tall in the ground, purposefully guarding, and securing the spot where the Pte Rifleman – 3 Para owner of both had fallen. One after the other they would L/Cpl Section 2ic – 3 Para be placed across the face of the mountain by soldiers, Cpl Section Commander – 3 Para including Jim himself, who was tasked with the job Cpl Instructor – Junior Parachute Company immediately after the Argentinian surrender was Sgt, Platoon Sgt – 3 Para announced. There would be no swift moving out, Sgt, Int Sgt - 3 Para homeward bound. After all they had been through … it C/Sgt Instructor – Royal Military Instructor Sandhurst was far from over. C/Sgt CQMS – 3 Para WO2 (CSM) – Company Sergeant Major – 3 Para The bodies of 23 young men lay side by side in a grave WO2 (CSM) – Company Sergeant Major – ATR Litchfield freshly dug by their fellow soldiers and friends. Graves WO2 (RQMS) – Regimental Quartermaster Sergeant – 2 Para that would pool and have to be weighed down with great WO1 (RSM) – Regimental Sergeant Major – Infantry Battle School (IBS) Brecon hunks of peat. Just as these 23 men stood on the parade ground once upon a time, 23 plain wooden crosses stood for them now until help came, and the men could eventually be laid to rest by their loved ones. (Commissioned from the ranks) On this 40th anniversary of the Falklands war, a bloody Officer Ranks battle among so many other bloody battles, we honor Capt – Unit Welfare Officer – 3 Para and we remember the fallen through the voices of the living, and now through Jim in the hope that it will leave Capt – Quartermaster – 4 Para us somewhat altered by hearing it. This article was not a Maj – Quartermaster – 1 Para (Special Forces Support Group) mission to break hearts as the hearts of others are not Maj – Officer Commanding D Company – 1 Para (Special Forces Support Group) ours to break, however, it succeeds to do so anyway if yours is of the breakable kind. At the end of our video call, I felt the strangest urge to Image: Lt Gen Hew Pike today Image: Jim Bolton and Wife Sue salute the man in front of me. Of course I didn’t dare, and what a silly notion to have come over me. I guess it “Ode of Remembrance” was my way of giving him the respect he so rightly deserved by doing something he would have understood completely. But it was me who didn’t understand. I had They shall grow not old, as we that are left grow old: no understanding of any of this before now, not really. Major Jim Bolton (retired) needed nothing from me or Age shall not weary them, nor the years condemn. anyone else, he had adequate memories, good and bad to last him his lifetime, and therefore, Major Jim Bolton At the going down of the sun and in the morning (retired)… with all silly notions aside, I salute you anyway, as I know it will be met with the intention it was We will remember them. given. 3 Para received numerous medals in recognition of their bravery during the capture of Mount Longdon. These included 1 Victoria Cross, 2 Distinguished Conduct Medals and 3 Military Medals (1 posthumous). Jim started his service in 1980 and served for 32 years with the Parachute Regiment and went on to serve in all four Parachute Battalions at various ranks: Listed above right. Jim currently works for Costain, a large Construction Company, and lives very happily in Westhoughton with his amazing wife Sue. Page 31 Private Client Consultancy

The McKay VC Competition saw sections from 3rd Battalion The Parachute Regiment (3 PARA) put through their paces around the arduous terrain of the Otterburn Ranges in Northumbria in 2014. The contest saw troops in full battle rig take part in a 15km night navigation exercise including stands testing their signaling, medical and parachute packing skills; an assault course; and live fire section attacks. The competition honours the memory of Sergeant Ian McKay, who was awarded a posthumous Victoria Cross for his \"outstanding selflessness, perseverance and courage\" during the Falklands War in 1982. Sgt McKay VC was killed during the assault on Mount Longdon when he attacked an Argentine position alone and under heavy fire. Credit : SI Longworth Photography on Flickr Fair use License Page 32 Private Client Consultancy

Rise of the

What is a finfluencer? How are governments handling this growing problem? A finfluencer, or financial influencer, is a person who uses social media platforms like Tik Tok and Instagram Various countries are now putting laws in place that protect social to deliver financial information and advice to their media users from this kind of fraud. Influencers in Australia can followers. Finfluencers are paid to promote products receive up to 5 years of jail time if they break the country’s new and services or run advertisements on their social financial advice laws. The law includes penalising people who make media pages. This sometimes involves giving harmful deceptive or misleading comments about financial products. This advice or promoting dangerous schemes that lead rigid legislation came after the Australian Securities and Investments people to lose their money. Commission found that around 33% of people aged between 18 and 21 follow finfluencers. Unfortunately, many turn to social media because it is often more accessible than consulting a licenced Early this year, the UK Financial Conduct Authority warned that advisor. Instagram and Tik Tok are free, and most businesses should be cautious when using influencers to market young people already have accounts. financial products. Spain has also made plans to implement new rules around advertising cryptocurrencies, which will include those Who is being targeted? promoted by influencers. The target audience for this kind of content is 18–24- Evidently, using a qualified professional is often the difference year-olds. A Barclays study found that between May between making money and losing it. 2020 and May 2021, around 1 in 6 people from this age group invested for the first time. While these statistics At Private Client Consultancy, we constantly warn of the could have been a positive insight into the changing dangers of following financial guidance from unqualified world of financial literacy, 50% of the people said they people. However, because social media is so ubiquitous, more had turned to social media for their financial advice. young people are being exposed to poor advice that is being doled out by a new kind of influencer: the finfluencer. It is also becoming more apparent that women are being increasingly targeted. New creators emerge every day to inspire women to enter this male- dominated space. There are well-intentioned influencers who want to see a change in financial literacy amongst women. However, social media sites have seen a rise in young women and girls promoting affiliate marketing, trading, and investing. By using hashtags like #girlswhotrade and #girlboss, they prey on impressionable people by appearing aspirational and saying that their followers, too, can make £100,000 with no experience. Often, the influencers look just like the people they are trying to reach, which makes their experience more relatable. Without saying it outright, they let viewers know that if they can do it, anyone can. Companies with questionable business practises will also use mainstream celebrities to promote their products. Kim Kardashian was recently sued for promoting a cryptocurrency which turned out to be a misleading marketing scheme that caused people to lose their investments. What you should look out for Those who promote dangerous habits typically encourage viewers to do some or all of the following: day trade buy cryptocurrencies and NFTs, which are notoriously volatile markets invest into single company stocks, which goes against most sensible advice that says not to keep all your eggs in one basket trade in Forex, which is profitable but high-risk and requires market expertise Not all the advice is impractical or dangerous. Some influencers help their followers make the money they already have work harder for them by encouraging them to invest regularly in a pension and open a bank account that invests their savings into the stock market, like a Stocks and Shares ISA. However, there are numerous clips online of people urging their followers to buy excessive amounts of Bitcoin. And of course, the content that promotes getting rich quick is appealing to those who need money or have substantial debt. Page 34 Private Client Consultancy





The €135 Million MERCEDES BENZ SLR 300 COUPE World’s Most Expensive Car On May 5 2022, RM Sotheby’s held a secret, invite-only auction to sell an extremely rare Mercedes-Benz. Page 37 Private Client Consultancy

Known as the Mona Lisa of cars, the Mercedes 300 SLR ‘Blue’, the version with blue interior, will leave its home of Coupe, with its gull-wing doors and tartan seats, sold for a the Mercedes-Benz Museum and be retained by the factory. whopping €135 million. This sale ousted the Ferrari 250 ‘Red’, the version with red interior, will go to an unnamed GTO as the world’s most expensive car, which sold for €45 client of Simon Kidston, notable British classic car dealer million in 2018. and collector. Assumed never to have been put up for sale for its entire This was a long time coming. Kidston says that top life, the car is thought to have only ever been owned by the collectors and classic car experts would almost certainly manufacturer. name the 300 SLR as the world’s most desirable. Designed by British-German Engineer Rudolf Uhlenhaut, He explained that having a good relationship with the the 300 SLR Coupe was built in 1955. It is one of only two museum helped convince them to sell the car. However, it that were produced. still took a year and a half of lobbying the board to offer up the coupe for auction. “This,” he said, “was a once-in-a- lifetime chance”. A huge reason the car is so valuable is because of how rare it is, and the fact that it was believed for so long that it would never be sold. But the value is also rooted in the car's racing history. It was never used to race and was instead adapted for road use to test how it could improve other Mercedes road-cars. However, it is the sister car to the record-breaking open- cockpit SLR, which was driven to victory by Sir Stirling Moss at the Mille Miglia in 1955. For this reason, the 300 SLR is an important part of the Mercedes-Benz Silver Arrow era, which began in 1934. Gordon Wilkins, reporter for Autocar magazine in 1957, said the car would need “to be mastered like a mettlesome horse.” With a maximum speed of 180 mph, this particular Silver Arrow was one of the fastest road-cars in the 1950s. The proceeds from the sale will go towards a charitable benefit fund for the youth, set up by Mercedes-Benz. Page 38 Private Client Consultancy

Q Q&A As the Head of Network at Private Client WITH ALEX HERR Consultancy (PCC) Wealth Network, please tell us about your background and why you decided Head of Network for to join PCC. Private Client Consultancy’s Wealth Network Division A I have been working in the UK and international financial services industry for over 30 years now. After working for some notable UK Life Offices in London, I moved back to my home country of Germany in 1995 to set up a DACH- based IFA distribution network for a large Isle of Man-based international life company. Additionally, I held senior B2B sales positions with Swiss Life International and was later active in a self-employed insurance consulting capacity for several international life insurance companies. I decided to join PCC for two reasons. Firstly, I was looking forward to the challenge of building a successful EU-based IFA Network. Secondly, and even more importantly, I wanted to join a company with a professional and motivated team on board. I have known Andy Oliver and some of his senior sales team for many years now. They have an impeccable reputation in the international financial services market, and a clear-eyed growth strategy. PCC’s growth in assets under advice and the many corporate awards the company has received since 2020 are testament to that. Q The PCC Wealth Network works differently to PCC direct. Can you explain the differences and what is the primary purpose of the Network? A PCC Direct consists of individual financial advisers working as internal PCC advisers. PCC Network members are appointed representatives of PCC. They can be self-employed individual financial advisers or financial services companies. With being a PCC Wealth Network member, companies and individuals alike retain their own identity but work under PCC’s EU licensing umbrella. Our Network enables professional nonregulated advisers to act under our regulatory and Professional Indemnity cover umbrella. By doing so, they save on expensive start up and ongoing regulatory costs that would otherwise lead to many of them not entering the financial services market. Increasing regulatory and licensing costs have created barriers to entry into the EU financial services market. Networks provide an effective way for financial advisers to enter and remain in the market while building a successful business. PCC Wealth Network goes beyond this and offers a clear exit strategy for existing Network members wishing to retire. Page 39 Private Client Consultancy

\"PCC Wealth Network not Q: There are already many established only promises excellent network companies operating in the market. support levels — How does the PCC Wealth Network differ from competitors, and what is your unique we live selling proposition (USP)? them\" A: All existing Networks work on a level Q: What does the future hold for the PCC Wealth Network, playing field regarding product providers. and what are your medium to long-term goals? There will sometimes be differences in A: Maintaining service excellence is key to our future success. “exclusive” arrangements, but this does not We have every reason to be confident, but we know Rome have a material impact on whether advisers wasn’t built in a day. Therefore, we are patient, selective, and want to join a particular network. always ensure that we are not falling into the trap of increasing network member numbers at all costs. Rather, we focus on the With a saturated EU Network market, there potential members who can deliver robust business plans. comes margin pressure. Many competing It is not the highest commission level that makes members IFA Networks have reduced their margins to successful. Instead, it is a highly efficient back office and sales such an extent that they can no longer support infrastructure that will enable them to have more time deliver quality service or any meaningful to acquire new clients who will refer them further. support to their Network partners. The Network made a strategic decision from the start not to compete on price but on dedicated support. Our competitors Creating a unique selling proposition as a have shown that both cannot go hand in hand. The fact that Network on your product solution portfolio there are many unhappy Network advisers out there proves alone is challenging. Other companies will that our focus is the right one. catch up and copy your ideas. However, it is PCC Wealth Network will always make sure that it is perfectly difficult to copy a dedicated administrative positioned to take full advantage of further market and sales support team. consolidation so it can assume a market leading position within the EU financial services market. We view the company as a platform that enables both new and existing financial advisers to be successful by providing full back up support. PCC Wealth Network does not only promise excellent support levels—we live them. All our Network members who have joined us since last June have no hesitation to recommend us to other industry colleagues and are happy to provide references. This tells us that we are on the right track. Page 40 Private Client Consultancy

If you currently reside in Spain or Portugal - lucky you! Re-discovering the countries we are living in can be a whole new adventure for us. And if you are looking for something that's bespoke and closer to home, one company has made it all possible. And they even do all the work! forMADE SPAIN & Portugal Custom Private Journeys are a MUST! And this company has been providing the ultimate luxury travel experience in Spain and Portugal since 1999. So, what do they offer? Sustainable Luxury No matter what the journey entails, their approach is high-touch, but low impact. They always keep things local, seasonal and off-the-beaten path. Custom Private Journeys MfS&P designs custom itineraries for the discerning traveler seeking immersive, meaningful experiences and the highest level of service. Their goal is to help their travelers discover the unknown, and in return, to re-discover themselves through journeys that enrich mind, body and spirit. Insider Access and Exceptional Connections By facilitating insider access to the most exclusive places and extraordinary people, they offer travelers a way to connect to Portugal and Spain in an authentic and transformative way. From lunches at family-owned organic farms and visits to small-batch wine producers and artisans in the mountains, to museum visits while closed to the public, or afternoons shopping with fashion designers, gallery-hopping and creating with artists or dining with nobility, the possibililties are almost endless. 24/7 Support While Traveling Travelers receive round-the-clock support from a specially assigned Guest Relations Representative during their trip. The representative is available via phone and email for any consultations, questions, last-minute reservations, changes and cancellations. What more could you ask for? Please note: Private Client Consultancy is not linked or affiliated to MFS&P, but we do love to shout about great things when we see them. Made for Spain & Portugal has featured in Travel + Leisure, Condé Nast Traveler, The New York Times, Bloomberg and Forbes, among other publications madeforspainandportugal.com Page 41 Private Client Consultancy

Hotel Hospes Palacio del Bailio A chic property with deep roots in Córdoba's past. Located in the heart of Córdoba’s historical quarter. Just wait until you see the rooms! Wow! Hotel Hospes Palacio del Bailio is the perfect union between the rich history of the city and luxury refuge. Page 42 Private Client Consultancy

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