While uncertainty often dominates headlines, periods like this can present valuable opportunities.

Following a period of higher interest rates, there is now greater scope to:

• generate income from investments
• diversify portfolios more effectively
• review asset allocation

These are not about short-term decisions, but about ensuring that wealth is positioned appropriately for the current environment.

For many individuals, this is a time to revisit their overall strategy.

Not to make drastic changes, but to ensure that everything remains aligned, efficient and purposeful.

Important notice: Past performance is not a reliable guide to the future. The value of investments and the income from them can go down as well as up. The value of tax reliefs depends upon individual circumstances and tax rules may change.

The FCA does not regulate tax advice. This client letter is provided strictly for general consideration only. No action must be taken or refrained from based on its contents alone. Accordingly, no responsibility can be assumed for any loss occasioned in connection with the content hereof and any such action or inaction. Professional advice is necessary for every case.

Disclaimers: The information contained in this client letter is for general consideration only and is subject to change dependent on specific legal implementation. Tax treatment depends on individual circumstances and may also change in the future.

You should not take, or refrain from taking, action based on its content and no part of this document should be relied upon or construed as any form of advice or personal recommendation. Accordingly, Raymond James has no responsibility whatsoever for all and any losses that may result from such action or inaction and it is essential that professional advice is taken. If you have any questions, please speak to your wealth manager in the first instance.

With investing your capital is at risk