Log inSenior Management Changes & Reduction in Fees – from Jon Telford 22nd September 2023
Following the retirement of our former chairman Fred Murphy, I have become Executive Chairman of Telford Mann in his stead. My new role will be a bit different to the one that Fred fulfilled as I continue to work in the business on a day-to-day basis. I would like to take this opportunity to thank Fred for his 28 years of service , his careful stewardship of the company, but most of all for recruiting me 19 years ago!
I am delighted to announce that Richard McDonald has taken up my vacated role of Joint Managing Director alongside Jilly Mann. Richard has been with Telford Mann for 10 years and brings with him a depth of experience and understanding of the needs of our clients from his former role as Senior Chartered Planner with Telford Mann.
Reduction in Fees
I am acutely conscious that the last couple of years have been a very difficult time to be an investment manager. The war in Ukraine, Cost of Living Crisis and worries about a future recession have all conspired to drag down markets and investment returns. Whilst we don’t think that the current downturn will last for very much longer, our clients will quite rightly question the costs associated with our service when investment returns are down.
I am therefore pleased to let you know that we have been able to reduce underlying funds charges in your accounts from 1% per annum to 0.5% per annum. A reduction of 0.5% may not seem much at face value, but it’s a saving of £250 per year on a £50,000 fund and a £1,000 per annum reduction on a £200,000 account.
Finally, we are planning some further enhancements to our services in the coming weeks and months and so I will be back in touch soon with further news.