In this episode, Dave Wallace sits down with Cavendish Ware advisers Mat Bonney and Jenny Earl to unravel one of the most misunderstood areas of financial planning: trusts.

What begins as Dave’s personal curiosity quickly turns into a clear and engaging masterclass on how trusts work, why they exist, and how they can protect and preserve wealth across generations.

Mat and Jenny explain the origins of trusts — dating back to the Crusades, when knights transferred their land to trusted friends while away at war — and show how these same principles of protection, control, and legacy still apply today.

Listeners learn how trusts can help families:

• Control when and how money is used, such as for education or property purchases.
• Protect assets from divorce, bankruptcy, or mismanagement.
• Reduce inheritance tax exposure through strategic lifetime gifting.
• Preserve wealth across generations by keeping assets outside of estates.

Mat uses a vivid “river and island” analogy to illustrate how a trust acts as a legally separate entity, bridging the gap between giver and beneficiary — ensuring that wealth flows at the right time and to the right people.

Jenny adds practical insights on different types of trusts, how to set them up, and the responsibilities of trustees, stressing the importance of professional advice and long-term planning.

By the end of the conversation, what once seemed complex feels logical, even empowering — a reminder that trusts aren’t just for the wealthy, but for anyone who wants to plan wisely and provide for future generations.

In this episode, Dave is joined by Rory Maguire from Fundhouse and our very own Lance Peltz for a candid discussion on the state of the economy in the wake of “Liberation Day.” 

They unpack the real impacts of US tariffs, shifting market sentiment, and the delicate balance between economic forecasts and investment decisions. 

From the dominance of mega-cap tech stocks to the volatility of crypto, the conversation explores how uncertainty, valuations, and investor behaviour are shaping portfolios — and what AI, jobs data, and global politics might mean for the future.

In this insightful episode of Bassline, David Wallace sits down with Lance Peltz for an in-depth exploration of the current global economic landscape, focusing particularly on the implications of recent developments in the United States and their broader impact on international markets.

Lance shares his expert analysis of the uncertainties surrounding President Trump's economic policies, particularly the introduction and fluctuations of tariffs, and their potential impacts on markets, businesses, and global trade dynamics. They delve into how uncertainty and unpredictability are shaping investment strategies, emphasising the importance of navigating through short-term volatility by maintaining a disciplined, long-term outlook.

Additionally, the discussion covers significant macroeconomic shifts, including globalisation's retreat into regional trade blocs, the evolving dynamics between the US, China, and Europe, and their influence on global financial stability and investment decisions.

David and Lance also briefly discuss the UK’s economic positioning amidst global tensions, including Brexit's long-term effects, trade relations, and the evolving political and economic strategies under Keir Starmer’s leadership.

Join David and Lance for this compelling conversation, providing essential insights for investors, market watchers, and anyone seeking to understand the economic forces shaping today's rapidly changing world.

In this episode, Dave and Lance break down the 2024 U.S. presidential election results, which saw Donald Trump secure a decisive victory.

They discuss the key factors behind this outcome, including voter dynamics, economic pressures, and niche community mobilisation. The conversation also examines the global trend of incumbents facing backlash, the economic and geopolitical implications of Trump’s win, and what it means for sectors like technology, crypto, and energy.

Join us as we unpack how this election reflects broader shifts in globalisation, trade, and security and what it could mean for markets and businesses in the future.

In this episode, Lance and Adrian delve into last week’s budget with a detailed analysis. Lance breaks down the numbers, exploring how Rachel Reeves has raised the borrowing threshold and what it means for fiscal policy. Adrian then highlights key aspects of the budget, discussing its potential impacts on Cavendish Ware’s clients.

In this episode of Bassline, Dave is joined by Lance, to discuss the dramatic fluctuations in the financial markets that occurred shortly after Lance returned from his holiday. Lance dives into the unexpected movements in the Japanese yen and its significant impact on global markets. He explains the concept of the "yen carry trade" and how a surprise rate hike by the Bank of Japan triggered a sharp appreciation of the yen, causing a major sell-off in equities.

The episode explores the complexities of currency trading, particularly the yen carry trade, where investors borrow in a low-interest-rate currency like the yen to invest in higher-yielding assets elsewhere. Lance also shares insights into the broader implications of these market dynamics, touching on potential risks, including the unwinding of leveraged positions and the delicate balance of global economic conditions.

Throughout the discussion, Lance offers a clear breakdown of the recent market turmoil, shedding light on how unexpected events can create ripple effects across global financial systems. This episode is a must-listen for anyone interested in understanding the intricate mechanisms of currency trading and the factors influencing market stability. Tune in to get a comprehensive view of the financial landscape and what investors should watch for in the coming months.

In this episode, Lance and Dave discuss the current geopolitical landscape and its impact on global markets. They focus on energy prices, the Middle East, and the ongoing COVID-19 pandemic. Lance highlights the significance of the equity market, emphasising corporate profitability, valuations, and dividend growth. He delves into the investment strategies for the 'Fab Four' technology stocks, including understanding their underlying factors.

The duo then discuss how inflation affects the economy, including slower interest rate expectations and faster pay increases for lower-paid cohorts. They also discuss how inflation has fallen sharper than expected, leading central banks to signal possible rate cuts.

Roy and Mat talk through some of the highlights of the event that Cavendish Ware ran in conjunction with Kingsley Napley and Moore Kingston Smith.

The event included:

Market predictions from the economist Russ Mould, offering analyses of investment markets and historical lessons, to help with understanding what the future might hold.

A panel of experts hosted by the broadcaster and journalist Dermot Murnaghan and panellists Waqar Shah, Corinne Aldridge, James Ward TEP, Tim Stovold, Roy McLoughlin, James Fulforth and Adrian Ware,  who talked through a series of subjects that delved deep into critical topics affecting our nation's future, including:

> Tax Implications: The looming risks associated with potential changes to CGT, IHT, and income tax and the implications for us all
> Non-Domicile Tax Regime: How the UK's attractiveness to wealthy individuals might shift, a topic of paramount importance for economic growth and diversity
> Investment and Personal Finance: From the VAT on school fees to alterations in pension rules, how these changes could reshape our personal financial landscapes and investment strategies
> Employment Law and Wellbeing: The impact on employment law, employee benefits, and mental health and wellbeing were also thoroughly examined, painting a holistic picture of the potential societal shifts ahead.

Tune into to find out more....

Lance talks about what is happening in the economy and some things to watch out for in the future. We talk about Bonds, Interest rates and the impact of geopolitical events such as the war in Ukraine, the Middle East situation and the upcoming presidential election in 2024. 

In this extended episode, the tables are turned, and Adrian interviews Dave Wallace and Rob Reed about Generative AI and why it is such an exciting technology. 

Dave provides a broad perspective, and Rob, a financial planner at Cavendish Ware, talks about how he has educated himself about the topic and why he believes it is such a transformative technology. And how he has become a world-renowned expert on Guinea Pigs thanks to Chat GPT.