BR Report 2019

54 55 MARKET RESEARCH CONCLUSIONS SUMMARY OF OUR FINDINGS 1. BR IS INCREASINGLY VERSATILE The range of ages for which BR is being used is increasing. The average ages of some advisers BR-suitable clients now include the 45 to 55 and 85 to 95 age bands. The relief also remains suitable for a substantial minority of advisers’ client bases. 4. AIM BR OUTLOOK AIM BR managers look to avoid overstretched valuations, are realistic but, despite market upheavals, remain broadly positive on the outlook. 2. ADVISER CONCERNS RE-FOCUSED TO PERFORMANCE Recent issues, particularly the chaotic and unresolved Brexit position, have re-focused advisers’ concerns on those directly linked to performance. 5. BR IS STILL A VIABLE OPTION Both our adviser survey and round table make it clear that the vast majority of advisers don’t view BR as more difficult to recommend in turbulent times, as long as the risks are clearly explained to clients. 3. SOME MANAGERS NOTE SOME UNDERSTANDABLE INVESTOR CAUTION Some investors have been delaying tax-planning and investment decisions. But managers point out that the defensive and diversified nature of BR investments, along with a good measure of separation from listed businesses offer subscribers a degree of protection from external disruption. DISCLAIMER Some of the managers have included some performance information in the following pages. As always, past performance is not a reliable indicator of future performance. This document is for professional advisers only, and it is not to be relied upon by retail investors. The value of an investment, and any income from it, can fall as well as rise, so investors may not get back the full amount they invest. Tax treatment depends on individual circumstances and may change in the future. Tax reliefs depend on the portfolio companies maintaining their qualifying status. The shares of the smaller companies could fall or rise in value more than shares listed on the main market of the London Stock Exchange. They may also be harder to sell. These products are not suitable for everyone. Any recommendation should be based on a holistic review of your client’s financial situation, objectives and needs. Neither Intelligent Partnership nor the managers offer investment or tax advice. We recommend investors seek professional advice before deciding to invest. BR SOLUTIONS