Clifford Abrahams

Few would disagree that our NHS is on its knees and needs fundamental reform.   What’s important now, is how we get to the crux of the challenge and identify potential solutions. As Rt Hon Wes Streeting MP eloquently puts it – diagnosing the problem before we write the prescription. Lord Darzi's 2018 report, "Better Health and Care for All: A 10-Point Plan for the 2020s", highlights his expertise and visionary approach to healthcare reform. Known for his impactful 2008 report, Lord Darzi demonstrates his ability to address the critical challenges facing the NHS. His emphasis on radical simplification, a shift from a "diagnose and treat" model to a "predict and prevent" one, increased funding, and adopting technological innovation, resonates with Evergreen Life's mission to empower individuals with their health data to live healthy happy lives. By collaborating, we can drive the transformation necessary to secure a sustainable and person-centric future for the NHS. #Healthcare #NHS #Innovation #DigitalHealth #EvergreenLife #LordDarz https://lnkd.in/egjaA_nJ

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This recent story makes for a grim read. Nick Triggle’s BBC News article summarises the wide variety of factors impacting the health challenges we face as a nation. The 2008 financial crash, Brexit, Covid and the cost of living crisis have all played their part in the perfect storm coined as an ‘epidemic of illness’. So as Lord Bethell has quite rightly previously pointed out, what we should actually be asking is - is our NHS failing or is it simply overloaded? Another ‘gloomy’ factor I’d add to this list is the role played by big brands, profiteering from ill-advised diet and lifestyle habits, by knowingly marketing and selling ultra-processed food to the masses. Clearly, there’s an obvious link between social deprivation and poor health outcomes. But the problem is much wider than income. It spans many other influences such as education, societal norms and regulation. Surely, the best place to start is with empowering people. To reduce demand on the NHS we need to help people learn what they need to do to be well, and support them in gaining understanding of their own sickness. This will reduce demand on our overstretched system so it can survive. Do this, and in time, many of the problems we face will take care of themselves. People powered health is what’s needed for a healthier, happier nation. #NHS James Bethell

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Have you seen the news? GPs across England will start capping the number of patients they are willing to see after the British Medical Association announced an immediate work-to-rule.   I am sure there will be fierce debates about the rights and wrongs of this action but there is no doubt our GPs have a massive workload and we currently have a capacity issue. Some of the solutions are closer to home than we sometimes like to think. My view is that we ALL have a part to play in helping to lighten this load.    That’s what Evergreen Life is all about. We exist to empower individuals to take control of their own health. Our app gives people greater knowledge and understanding about how food, fitness and happiness impact on us being well. In doing so, we can take some of the strain off the NHS.    If you can manage your diabetes, or reduce your blood pressure, and lose weight, you’ll be healthier, live longer and happier years and reduce the demand in the system.    For me, this needs to be part of the conversation about GPs’ finite resources. If we all took advantage of the wealth of research, data and technology tools that are available then the system pressures would inevitably be reduced.   Secondly, another key to supporting our GPs will come via better use of data and technology. For example, we know that some 20% of people go to GP practices have a dermatology issue. At Evergreen Life we are rolling out a service which will mean the vast majority of these people won’t need a face-to-face appointment.    #HealthcareReform #GPWorkload #EmpowermentInHealth #SelfCareMatters #TechInHealth #DigitalHealthSolutions #SupportOurGPs #HealthTechInnovation #EvergreenLife #PatientEmpowerment #ReduceNHSPressure #HealthcareCapacity #HealthyLiving #ProactiveHealth

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A really thought provoking piece of work, reminding us how interdependent public policy decisions are. Pensions policy has reduced inequalities in later life, but increasing wealth, health, housing and work inequalities all impact pensions, and potentially undermine the sucess of the pension system. #PPILaunch #PensionsPolicyInstitute

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With the two-pot pension system set to go live on the 1st of September, in my latest column for Business Day, I look its basic structure, functions and rational - in light of behavioural heuristics in the pension space. I further consider its impact from an economic, individual and investment strategy perspective. Ultimately, withdrawals are discouraged, and any that are implemented should be carefully considered with the aid of a financial advisor, wealth manager or investment professional. #absa #absainvestments #absastockbrokers #absainsuranceandfinancialadvisors #AIFA #absawealth #absatrust #absaprivatewealth RICARDO SMITH: Two-pot or not to pot https://lnkd.in/dunYGS_V

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Our just-released survey of 100 UK asset owners* explores views on the current opportunity in fixed income markets, the value of active management, preferred credit sectors for the year ahead, and the growing role of emerging market debt. For the full survey see: https://lnkd.in/eDX2h9br For professional investors only. *Views of 100 UK based institutional fixed income professionals, canvassed during February and March 2024. #CapitalGroup #FixedIncome #Investing #Bonds

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Great article by John Plender in the Financial Times on *the* hot topic within the pensions industry at the moment. The article estimates there have been £12-15bn of realised profits from insurers from bulk annuity deals to date. With such strong funding positions, and a busy bulk annuity market, it's clear this number will get a lot bigger very quickly. That makes the conversations we are having at the moment over what pension schemes choose to do all the more important. There are good reasons to insure and good reasons to run-on (even if only for a while) - what's important is that pension schemes and sponsors are fully aware of the risks and rewards of taking either option and take informed decisions. It is likely the biggest financial decision in the lifetime of the scheme, and we are speaking to lots of schemes and sponsors about what is the right course of action for their specific circumstances. No one size fits all solution as it can lead to material implications (good and bad) for members, for the sponsor, and wider stakeholders. #pensionschemes #runon #insurance https://lnkd.in/e7jkfuAz

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Thanks to Paul Clarke Financial News for running an article featuring Continuum Advisory Partners' vision and growth journey. Since our founding less than two years ago, we've grown to a team of close to 40, with ambitious plans to expand across London, Europe and the USA. Our focus remains clear: delivering independent, relationship-driven advice in the financial services sector, including insurance, wealth management, financial technology and professional services. We're taking a different approach from traditional boutiques. Our model, inspired by the classic merchant banks, emphasises long-term relationships and trust over transactional dealings. Sometimes the best advice is to not do a deal at all. As I say in the article, "We're going back to the future" with our culture centred on teamwork and trust. We're proud that 21 of our current team members have worked together for over a decade across multiple organisations. We're growing thoughtfully, focusing on individuals who share our values and vision for client service. We're excited about our future as we continue building our unique financial services mid-market advisory firm. #InvestmentBanking #FinancialServices #MandA #Growth #Leadership Find the link to the article in the first comment below.

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Could Premium Finance de-rail your insurance brokerage sale? Does your approach to insurance premium finance enhance the enterprise value potential investors will pay for or does it add risks to their investment model they will factor in to the final price? tifco’s latest article explores the comment from a leading PE investor “We attribute no value to premium finance when buying UK brokers” and considers the emerging risk to insurance brokers of not having a plan to meet regulatory requirements, leaving potential investors with risks they cannot easily evaluate or price in. Maximising sustainable revenues and in a regulatory compliant manner is one obvious way of protecting the EBITDA your investor will pay for. #insurancepremiumfinance #ipf #insurance #insurancebrokers #PE #privateequity #tifco #BIBA

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Aon’s Defined Contribution Pension Scheme Survey results show that almost half of DC pension managers are considering changing their structure. Learn more on the evolving landscape of pensions in the UK in FT Adviser: https://aon.io/3SI7yZA #BetterDecisions #Pensions

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Have UK asset managers lost their way? "Britain is second only to the US as a centre for asset management. The business is fabulously profitable and employs tens of thousands in highly paid jobs. But the mood among traditional asset management executives has hardly been celebratory of late given the gale of headwinds they face," Toby Nangle writes in the Financial Times today. Shifts in pension fund mandates, Brexit, poor M&A, the rise of passive and alternatives, and rates, he notes, have each taken their toll. But perhaps the largest of these is the barbell: "Twenty years ago Huw van Steenis forecast that investors would gravitate towards passive funds for cheap benchmark performance, and to specialist managers capable of delivering outsized returns. His widely cited 'barbell thesis' left no room for traditional active managers. It has proved prescient," he (kindly!) writes. Some 90% of inflows have been passive, he notes "Half of all the management fees in the investment industry are likely to go to alternative asset managers in 2023, up from 28 per cent in 2003," I wrote in the FT last year (Private credit boom will trigger a new squeeze - https://lnkd.in/ehPqWHtW). While there have been some terrific success stories in alternatives, either by Brits or others, alas, many of the UK listed asset managers failed to capitalise on the extraordinary changes in financial markets. The sea change to credit that Howard Marks writes about, and private credit in particular, will in my view "trigger a new squeeze." Views? #investing #finance #investmentmanagement #economy Oliver Wyman Morgan Stanley

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We need to pay our politicians properly. I was reminded in the latest, and always fascinating Bits and Pieces from CLSA’s Damian Kestrel, just how poorly we pay the people whose decisions matter so much. This is true absolutely and relatively. Our collective failure to do this, both their lack of courage to ask, and our lack of foresight to insist, can have significant consequences, almost always negative. Take head of state salaries as a starting point. It is well known that Singapore pays its leader properly, which may help explain why it has arguably the best governance in the world. That the US president’s salary is only 25% of his is crazy. It is the US amount that needs changing. Some may argue that even $400,000 is too high for Joe Biden, but compare it to the CEO of a S&P company averaging $16.3million. You get what you pay for. Both these numbers seem wrong, but one is clearly way too low. New Zealand is a lovely country, but should its PM earn more than the UK’s PM? In my opinion both need a raise. Still it is not just that you tend to get what you pay for. If you do not compensate people in power properly you get not only incompetence, but also encourage corruption, and a focus on other priorities. This is a particular problem in the US, the world centre of lobbying. As a fund manager for 30 years I reckon my percentage win/loss ratio is pretty good and my CAGR more than respectable, but I did not come close to Nancy Pelosi with a 97.4% record according to Mike Alfred. Hell she makes Warren Buffett look like an amateur. No wonder she never had time to read the Affordable Care Act. If we care at all about getting better people into politics we can no longer ignore this problem. Pay politicians properly may not sound like an a winning election slogan, but it is long overdue. Surely the current crop of candidates across the democratic world should convince everyone of the need to act now? My starter recommendation is £500K for an MP in Westminster, but no more expense reimbursement for bird houses or porno movies. £2.5 million seems fair for the Prime Minister. We need to pay the person in number 10 more than a trainee solicitor or league two footballer. The pay off may not be immediate, but it is hard to think of anything that could generate a higher ROI than improving the quality of decision making by the people we elect to run a country.

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In this new insight by Mirek Gruna he discusses why now is the time to make some simple steps to minimise the potential impacts of the changes to your personal and offshore position. Find out more below. #oneiqeq #nondomiciles #generationalplanning

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I know. You’re taking a well earned break and only accidentally logged on here 😁 But now that you have… Why not sign up to #BVCASummit2024 (see the post I am sharing below)? Then you can enjoy the rest of August knowing that in September you will be right back in the industry groove…! The bonus? You will be part of something #exciting and #new for the industry… #newdate #newlocation #newfocus We are changing a lot this year: 🗓️ Dates: 11- 12 September (five weeks time!) - earlier than Summit has ever been, to be in the sweet spot as politicians and the industry build up speed after the summer… 🏙️ Location: Day 1 at Landing Forty Two above The City, an evening at Lancaster House to talk investment with government, then Day 2 at Sancroft, St Paul’s back in the heart of The City - so two days at the centre of the UK’s economic and political action… 🗓️ Extra focus: in addition to our core topics, we’re zooming in on accessing capital from UK pensions, while continuing to build our attractiveness to international investors. And engaging with the new government and other stakeholders - showcasing our #partners4growth credentials and the importance of our #internationalcompetitiveness… All of this builds on our strong foundations at Summit over the past decade and more! The Summit is the premier UK networking and insight conference for #venturecapital #privateequity and #privatecredit professionals. It’s the unrivalled gathering for everyone involved in #privatecapital… …to meet peers and build new connections …to contribute to and soak in all the latest analysis about the way the industry is developing; and …to understand how the industry is being shaped and influenced by (and engaging with) the outside world of politics, regulation and the media This mix has built Summit into what it is today - so, why not #bepartofit? We look forward to welcoming you and our great partners Aon, and other supporters, in a few weeks time… British Private Equity & Venture Capital Association (BVCA) Amy Abbott Leon de Bono Karim Palant Sarah Adams Isobel Clarke Jayne Mould Nicole Walker Noreen A. Laura West Denise Typl

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For high-earning corporate directors, ensuring you’re making the most of all available allowances on your pension could mean saving a considerable sum towards your future 📈 #PensionPlanning #FinancialPlanning #Directors

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Great to be sharing the stage with some fantastic experts. It was fun and I learned a bit too. Three things I jotted down: * CRP - centralised retirement philosophy. I like that! * Helping clients manage the psychological shift to drawing down wealth is hugely important (and should maybe be part of the CRP. * It's not just about identifying vulnerable clients but properly tailoring policies and solutions to their needs. And my mantra for the day? Let's get beyond the 8%. FCA data show that 8% of UK adults paid for advice last year. Yes, there's a lot of regulatory change to keep up with. But with agreed processes and tech to support, I keep hearing from firms who are pushing to reach more clients. It's not for everyone but it's a good measure of success for the industry.

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Why resilience & agility matters for golf's British Open: It is not what you can do but "what you must not do"; and for investing 11 July 2024 3.38pm EST (S&P 500 new all time highs 5642.45/S&P 500 index futures 5707 hitting our final target zone of 5600-5700, see: https://lnkd.in/gr7gRN7T) As 19th century US stock & commodity trader, Livermore said - you have to learn "how not to lose money" to make money - 'consistently'. The Open Championship is the oldest golf tournament since 1860 will be held at Royal Troon, Scotland on 18 July 2024 and one of the toughest See a nice scenic Golf Digest video preview: https://lnkd.in/gX5vntGJ Even Tiger Woods in 2004 couldn't win the Open Championship at Royal Troon despite being World No. 1 then, demonstrating how tough the Royal Troon course is. With uncertainty of weather next week of rain, strong winds, thick rough & unforgiving terrain - its Man vs Nature (not just Man vs Man). It is not squash, badminton or tennis on a nice square court. Todd Hamilton won in 2004's Open playoff against Ernie Els with a superb chip with a "hybrid" club to get near the final hole vs Els's traditional wedge shot. "Hybrid" golf clubs were invented as an innovation to handle difficult ⛳ course conditions & "Hedge" funds were invented to handle difficult 💹 market conditions. Ability to be accurate, avoid dangers and strong winds with creative flair - essential ingredients to win tough golf Open championships - Much like investing in rising uncertain markets getting overvalued - with geo-political winds; Something else is needed besides "same old BAU textbook" Agility, Creativity & Adaptability - a must. Be like water 🌊 Macrowaters 🌏 Global Macro - Multi-strategy 🎨 Indeed, the 2008 GFC 'economic storm' showed the resilient strategies of "Global Macro -2.8%, CTA +12%, Merger Arbitrage -1% and Short-Selling +24%" vs World MSCI stock index -40% & S&P 500 stock index -37%. *Any storm in US can blow to EU UK....Asia. 100 year old Dow Theory 'sell signal' could be imminent of troubles ahead in coming 6-12 months Famed British Nobel economist John M. Keynes said - When the facts change, I change my mind, what do you do sir? (Much like the clients of PwC, after an audit mess of Evergrande, who can blame them to leave - much like collapse of Enron and Arthur Anderson)

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