Wealth Management

Changes to Insight

This newsletter was introduced back in March 2020 shortly after the beginning of the COVID pandemic to provide information on the investments you have in your portfolio. We have been mindful more recently that we tell you that investing is for the long term and it isn’t always a good thing to watch investments too closely – a monthly update and commentary on performance is slightly contradictory to this.

We are changing the format of this newsletter so that we review the portfolios in depth on a quarterly basis.

13th February 2024

We understand that wealth and your investments are important and some of you may want to keep up to date more regularly. It is always possible to get valuations from the M&G Wealth website. Alternatively, we have the Old Mill Your Wealth App that will allow you to obtain valuations at any time plus much more. Please see below for details:

Your Wealth App

The ‘Your Wealth‘ app (powered by Moneyinfo) gives you the ability to view your entire financial life in one place. It allows you to track the value of investments and assets alongside any liabilities (please note you are not able to make transactions or changes to your investments directly within the app). Not only that, but you have a secure method of communicating with us, including sharing documents when required. All in one place, safely and securely.

Key benefits

  • Your Wealth is available as an app on both IOS and Android and can also be accessed on laptop and desktop computers, allowing you to access the information and documents within the app whenever you want to
  • Improved access to portfolio valuations and details of your investments online
  • A secure portal for sending and receiving documents, including the ability to sign documents electronically, avoiding the need for paperwork for those who are happy not to receive it. You can also receive our regular Insight publications via the app
  • A secure communication channel for you to send messages to, and receive messages from Old Mill, which is particularly important in this age of increasing cybercrime
  • The ability to view your bank accounts (not all banks currently provide a feed; however, the list is growing), savings accounts, investments, pensions and other assets with real-time values. This can provide a single view of all your financial affairs securely in one place
  • Some clients produce their own summaries and/or spreadsheets to track their net worth. Your Wealth will, in many cases, make this unnecessary.

Improved access to portfolio valuations and details of your investments

All plans that Old Mill hold in our system will be automatically added to Your Wealth for you, as well as any important documents.

Any investment or pension plans managed by Old Mill will be updated either by electronic data feeds or by the team dependent on the data available from the plan providers.

A secure portal for sending and receiving documents

Your Wealth allows for documents to be accessed immediately, wherever you are and on whatever device you are using. The documents are stored securely and backed up to maintain security.

We care for the environment too and want to take steps to reduce the amount of paper we’re using.

A secure communication channel for messages

You will be notified when a secure message is sent to you and we’re using this method to communicate with you in order that you know the message is genuine because it’s being delivered securely by Your Wealth and not sent via password protected email.

Do I have to use all the functionality?

The app can be tailored to meet your particular needs. If you prefer to use it as a secure communications portal, that is fine. You don’t have to have your banks or investments linked through the app.

How secure is Your Wealth?

As you would expect, cyber security is of the utmost importance to us and our carefully selected technology partner. All data within Your Wealth is fully encrypted and, together with other security measures, ensures your data is protected.

The encryption means that information cannot be read by anyone listening between your computer or phone and the Your Wealth service. Even when we process any of your data internally, we still encrypt it.

How do I get the Your Wealth app?

If you’d like to have the Your Wealth app, please email yourwealth@om.uk, and one of our dedicated team will be in touch to get you set up.