Gina and Alan Miller launch the True & Fair Investment Calculator
Already well known for their groundbreaking True & Fair Campaign, Gina and Alan Miller have recently launched a free online calculator that enables investors and savers to easily discover the impact of costs and fees on their investments.
The Steeple Times asks fund manager Alan Miller: “What’s on your mantelpiece?”
The Steeple Times shares “wit and wisdom”. What’s your guiding force?
It’s a four letter word. It’s Gina, not the four letter word you were thinking about.
“Don’t get even, get medieval” is, in our humble opinion, a great motto. What’s yours?
Believe in what you do and have fun whilst you are doing it.
Gina Miller investigates the links between Saint Valentine and transparency in investing
According to the wise font of all knowledge, which can be extremely accurate or extremely inaccurate, Wikipedia, Saint Valentine (in Latin, Valentinus) is a widely recognised third century Roman saint commemorated on February 14th and associated since the High Middle Ages with a tradition of courtly love. Nothing is reliably known of Saint Valentine except his name and the fact that he died on February 14th.
But many of the current legends that characterise Saint Valentine were invented in the fourteenth century in England, notably by Geoffrey Chaucer and his circle, when the feast day of February 14th first became associated with romantic love.
Whatever the truth is, most people today associate Valentine’s Day with romance. When one thinks of romance it is normally in the old fashioned Mills and Boon books or the more modern 50 Shades of Grey with some dashing man seducing his future conquest but once the charming good looks are pierced, below the surface they are often found to be pretty shallow and unedifying and after a while, maybe the real cardinal sin, boring. I say this as someone who once dated a famous model who was known across the UK for taking his jeans off in the laundrette revealing a great body but sadly not a lot of substance beneath.
Where is the connection with the world I work in, investments? Well a surprising amount when you consider it. The world of investment relies on seduction but the seduction is used for all the wrong reasons and normally with all the wrong results. There is a fine line between seduction and deception. Every day countless savings and investment managers cross this line.
When you meet your wonderfully charming or slick fund manager they try to seduce you with flowery words and jargon with no meaning or deliberately assembled to impress you with its complexity; but designed to prevent you from understanding how your money is really invested or how much your money is really costing. The smoke and mirrors are crafted to beguile and reassure that by being so complex, they must be amazing to do what they do and charge what they charge. Of course more often than not investing does not really need to be so complex or expensive to get sold returns.
If you think of most great inventors or inventions they are often based on a simple design or a simple concept. In investment the living Saint of investment is widely held to be Saint Buffet of Omaha, Nebraska. He has an annual convention where thousands flock to his temple to hear and learn from every word he says since he has probably the longest and best known and maybe most successful track records of anyone. He does not make things complicated or flowery he talks of common sense and old fashioned virtues that have stood the test of time and which people can understand. He simply tries to buy companies which he trusts, thinks are great franchises that can stand the test of time; and which for whatever reason are available at the right price. He does not hide from his investors how he invests, what he invests in or his charges for the services he provides. He works alongside his clients because he is managing his own money in the same way.
When you meet your fund manager or wealth adviser or whatever other name they call themselves, don’t be seduced by the initial lavish language or entertaining or lavish date because normally this does not last and it is you who ultimately is paying for it anyway. Often the more lavish the entertaining, the more likely that they are ‘after’ something and that something is to erode more of your returns in fees.
In economics there is a term called giffen goods. These are goods by which the more that is charged the more that it is demanded, these are luxury goods. If your XXX handbag was available for £10 rather than £1,000 it would quickly lose its panache or lustre. Investment managers try and make their services desirable through charging more in the knowledge that most clients wrongly think: “If I pay more I must be getting a better product or a better performance”. However the research shows the precise opposite and that if you pay more, it simply means more money has been deducted from your savings and in turn they are then worth less.
We have been working extremely hard via a True and Fair Campaign to force by law, the investment industry to stop this deception and reveal to customers exactly how much, in total, investments are really costing and how they are really invested. The scale of this deception is truly shocking.
Maybe, just like a good relationship, there needs to be substance and openness and trust or the relationship is not a real relationship but just an empty dalliance, fun at the time but not particularly rewarding thereafter. I implore you to trust your instincts, keep to your principles and do not be seduced by the flannel. Instead, do plan today for your tomorrows and the life you dream of as you grow older and go off into the sunset of retirement.
Happy Valentine’s Day.
For more information about the True and Fair Campaign, go to: http://www.trueandfaircampaign.com
Andreas Kirchberger captures guests and performers at the Champions in the Community fundraising dinner
On Thursday 10th November 2012, Gina and Alan Miller and The Rt. Hon. Iain Duncan Smith MP hosted a dinner at London’s Hurlingham Club to raise funds for the charities supported by Miller Philanthropy and The Centre for Social Justice.
Guests at the event numbered Aliona Adrianova, Carlos Bey Fisher, Jackie Branston, Bridget Convey, Karen Cummings Palmer, Diane Henry Lepart, Katie Gerrard, Hannah Gerrard, Iain Gibbs, Mariana Haseldine, Christian Huhnt, Francesca Mathieu, Ferdinand Miller, Georgina Moffat, Charles Mitford Cust, Claire Rubinstein, June Sarpong, Angelo Valentino, Timo Weber and Haydn Williams.
Performances by Antony Costa, Beverley Craven, the Magpie Dance group and Derek Paravacini were interspersed with speeches from Gina Miller and The Rt. Hon. Iain Duncan Smith MP and items sold in the auction numbered a couture dress by Ralph & Russo, a long weekend on a country estate in Devon and a Rolls-Royce experience.
Of the success of the night, Gina Miller commented:
“The Champions in the Community dinner acknowledged the underappreciated individuals involved in charity in the UK. The evening was a great success in terms of raising funds and awareness for these unsung heroes and we thank all who attended and supported our efforts for those working at the coalface of the negative trends in our society.”
For more details about The Centre for Social Justice, go to: http://www.centreforsocialjustice.org.uk
For more information about Miller Philanthropy, go to: http://www.millerphilanthropy.com
All images © Andreas Kirchberger/Photography-Factory 2012
Gina Miller reports on the death of the typewriter
I noted that Britain’s last ever typewriter rolled off the assembly line at Brother’s factory in Wales last week, the Brother CM1000 electronic typewriter. This was one of 5.8 million typewriters made at the factory since 1985 and it has been donated to the Science Museum in London.
Over the weekend, whilst perusing the Sunday newspapers, I shuddered at the disgraceful dumbing down of language. Then, last night, whilst watching the evening news, I was appalled by the grammar being used by newsreaders as my radar is now fully focused on honing in on grammatical sabotage.
It has struck me that with the death of the typewriter we are also experiencing the death of an era. An era in which the art and craft of writing, grammar, attention to detail, concentration and a love of words was celebrated has passed. Gone is a time where cutting and pasting required dexterity and glue. A time when mistakes, typos and bad grammar all had consequences; and when people enjoyed a romance with words has indeed moved on. Words that could be simple yet sophisticated have been sadly forgotten. I love the power of words. They are an amazing form of self-expression that can convey such beauty and such emotion. They have the power to make or break a person. They can lift or depress the spirit, they can make us rejoice or cry.
As a young girl I would sneak into the back of a courtroom and marvel as my father, a noted criminal barrister, defended a client. Years later reading the John Mortimer play, A Voyage Round My Father, I found the exact words to express my childhood wonderment. ‘He sent words into the darkness as if they were soldiers into battle,’ Mortimer wrote.
In the work environment we now use computers, which often means people are less productive and lack concentration as they are distracted by the Internet and auto spell checks which dull the intellect. Typewriters used to be chained to desks so they were not stolen or thrown out of windows. But now staff can steal time by using office hours to communicate with friends on Facebook or Twitter, shop online and book leisure activities and holidays.
Outside of work, letter writing is dying; people text to say thank you, to make up – even to break up. Communication lacks emotion, style, considered phrases and politeness. Written communications have been reduced to rough, short, sharp, harsh expressions of functionality.
I love how words taste just before you say them, how some of them have to roll around your mouth for a while before they can be uttered and how others explode off the pad of your tongue, excited to be leaving your thoughts and heading out into the world. Words like ‘strident’, ‘garrulous’, ‘mosquito’, ‘svelte’, ‘sanguine’, ‘parlour’. The word ‘rat’ that you can’t say and be tearful at the same time – it’s a great word to repeat several times when you can’t control your emotions. I love coming across words that I’ve never heard before – sometimes just hearing them is enough to satisfy my appetite but more often than not I need to get the full effect of them by thinking of how to use them. This I explore with my children where we have rhyming games, opposite games; if a word was a colour, what colour might it be?
There are some words that you can’t help but ‘feel’ as you say them – say the word ‘whisper’ and the very air around you changes as you say it. Words are beautiful to say and hear but they really come into their own when they are written down.
I’m certainly not as clever with the use of words and language as I would like to be and I probably use each and every forbidden type of style and grammar error known to man. But I firmly believe that in these fast-paced, hectic times we should all encourage a wider expansion and usage of vocabulary so that generations to come can enjoy the pleasure of words and language.
Like the health message of ‘eat 5 a day’ in terms of fruit and vegetables, I would encourage parents to ensure their children to ‘use 5 a day’ – at least 5 adjectives a day to ensure the beauty of language is kept alive.
Gina Miller is an entrepreneur, philanthropist and lover of words.
For more information about Miller Philanthropy, go to: http://www.millerphilanthropy.com
This echolaliac prodigy has absolute pitch and has been described as “the human iPod.” His abilities as a musician are amazing given that he’s both blind and autistic. The cousin of The Duchess of Cornwall’s children, Tom Parker Bowles and Laura Lopes, Paravicini unexpectedly played Big Spender to the then Chancellor of the Exchequer, Alistair Darling, in 2009 and made legal history when The Court of Protection was opened for the first time in 2010 to discuss his future care. He captivates audiences throughout the land.
Edgware born Costa is best known as a member of the boy band Blue but he actually started out as an actor in the BBC’s Grange Hill. He’s sung with Stevie Wonder and Elton John and thinks that groups created via shows such as The X-Factor achieve fame “the wrong way.” We’d say he has a point.
This British singer-songwriter was born in Colombo, Sir Lanka whilst her father was there working for Kodak. Influenced by Elton John and Kate Bush, she began her career touring with Bobby Womack but it was her 1991 single, “Promise Me,” that catapulted Craven into the big time. After a period raising a family, she’s now back in the business and even appeared with her daughter, Mollie, on ITV’s Take Me Out in February 2012.
Gina Miller asks if today’s “i” generation can still embody the proverbial maxim “see no evil, hear no evil, speak no evil”
The hysteria and media attention around the iPhone 5 and the iPad mini has made me take note and observe “i” gadget usage over the last few weeks. The idea of people queuing outside Apple stores in these times of austerity when so many are struggling seems totally absurd to me. Even more absurd is that these individuals behave like addicts and do not question what mobile phones are doing to their lives. They just can’t wait for the next high.
My observations of “mobile junkies” started on the 21st September. During the day there was media coverage of the launch of the iPhone 5 and interviews with joyous consumers as they got their hands on these new toys. In the evening, I attended a truly inspiring concert to celebrate and publicise Peace for One Day. The concert marked the United Nations’ World Peace Day, which calls for a day of global ceasefire and non-violence. Prior to the music there were links from leaders around the world in support of the day including a speech about global action against domestic violence, an Afghan Leader in support of the day and the extraordinary director of Interpeace, Scott Webber. And what were the people at either side of me, above me, in front and behind me doing? They were texting, emailing, playing games and obsessively tinkering with their mobiles.
From the woman talking on her mobile as she steps into the road to cross without ever looking up, to the parents waiting in the playground for their children texting and emailing, the mobile has taken precedence over what we should really be paying attention to. In restaurants, couples and families do not talk to each other but instead have their mobiles in their hands as they eat and prop up mobiles or iPads playing cartoons for the children instead of talking to them. Have we lost all sense of propriety? When do we talk to each other? When do we get to know our children?
People text to ask someone out, they text to break up and they text to ask what is for supper. Trust in relationships is tested as women track their husband’s iPhones and if a partner doesn’t call or text at least five times a day then the other questions the depth of commitment or love. Children as young as seven demand iPads or mobiles from doting parents who don’t know how to say ‘no’ or instil the idea that you strive to attain the rewards of hard work. There are even reported increases in teenagers and a young adult complaining of aches and pains in their thumbs due to over-texting. 24/7 email access engenders expectations and stress that means people are never really shutting down from work mode. People on trains incessantly chatter and children get brutally attacked on their way home from school for their mobiles. All sense of privacy has been eroded as any celebrity or person in the public eye can be spied upon now that mobiles have cameras. All these negative trends are due to these gadgets but sales keep rocketing most especially amongst those who can least afford them.
I read with interest an account from a guide at the Sistine Chapel who said visitors come in, take photos on their phones and iPads and then move to the next room. No one, the guide suggested, really looks with their eyes, wonders or lingers at the beauty before, around and above them anymore. For these visitors, instead, it is all about taking the picture and instant gratification.
Whilst mobile phones keep us in touch and mean we can assure our loved ones we are safe, running late, find out about the children or ask whether grandmother is warm; this convenience appears to come at a very high price. Apple recently sold its 100 millionth iPad and reported profits of £5.08 billion in the three months to 29 September 2012. Apparently there were 2 million iPhone 5s ordered in the first 24 hours and similar figures are expected for the aggressively priced iPad mini. If you the average spend one of these new gadgets were to be conservatively calculated at £200, that gives a total spend of £400 million. Just think what a difference that amount of money would make if each person gave it instead to the extraordinary small community charities who battle at the coalface of the negative trends in our society?
The ancient three monkeys proverb associated with being of good mind, speech and action has been corrupted by gadgets and now in the modern world we turn a blind eye. We have grown an extra appendage that we appear unable to live without.
What if we all engaged in a national day of no phones or portable tablet? What if, as a social experiment, all networks were also to shut down for one day? Would we not have a different sort of ‘peace day’ that would start to rebuild our interaction, families, relationships and empathy? We would have to look into each other’s faces when we spoke and we might remember when we laughed more, talked more and maybe even tolerated more. If we took up this challenge, perhaps we might even rediscover some of our lost humanity and ‘we’ culture rather than the egotistical ‘i’ culture that sadly dominates society today.
Gina Miller, founder of Miller Philanthropy, is the host of Champions in the Community at The Hurlingham Club on 8th November 2012. For more information and to donate, go to: https://mydonate.bt.com/events/championsdinner
An event to support the unsung heroes in our community
On the 8th November, The Steeple Times will be the media partner for a fundraising event jointly hosted by Gina and Alan Miller and The Rt. Hon Iain Duncan Smith MP at The Hurlingham Club in London, SW6. 100% of the funds raised by the “Celebrating Champions in the Community” evening will aid charities supported by Miller Philanthropy and The Centre for Social Justice.
Gina Miller of Miller Philanthropy comments:
“We increasingly hear and read in the media examples of how our society is breaking down. Yet there are unsung heroes battling every day, on all our behalves, trying to reverse these trends. We invite you to celebrate and support these individuals so please join us for an evening of entertainment, celebration and inspiration. 100% of your attendance donation will be going to these community heroes.”
This black tie event, whose principal sponsor is the luxury couture house Ralph & Russo, will include a drinks reception, dinner and auction as well as entertainment from the BRIT-Award winning singer Beverley Craven; Antony Costa, a former member of the pop boy band sensation Blue; the Magpie Dance company and Derek Paravicini, one of the great musical entertainers of his generation.
A donation of £150 per person comes as the condition of attending, 100% of which goes to charities being supported.
Miller Philanthropy
Miller Philanthropy is a family foundation founded on passion and integrity with 100% transparency and 100% of funds raised going to charities and causes.
The foundation focuses on small community charities – the unsung heroes who undertake vital work at the coal face of the negative trends in our society; primarily, but not exclusively in the UK. Miller Philanthropy’s premise is based upon a strong belief that charity begins at home.
The foundation acts as a philanthropic incubator for chosen charities and projects who undertake transformational work but face a growing number of challenges and lack of resources. We mentor and partner these extraordinary individuals and organisations until they become sustainable.
Beneficiary Charities
The Centre for Social Justice
The Centre for Social Justice is an independent think-tank, established to put social justice at the heart of British politics. Moved by shocking levels of disadvantage across the nation, it studies the root causes of Britain’s acute social problems in partnership with its Alliance of over 350 grassroots charities and people whose lives have been affected by poverty.
This enables the CSJ to find and promote evidence-based, experience-led solutions to change lives and transform communities.
The CSJ believes that the surest way to reverse social breakdown – and the poverty it creates – is to build resilience within individuals, families and the innovative organisations able to help them.
Breakthrough Britain
In 2007, the CSJ published its landmark report Breakthrough Britain. This publication has had a significant impact on the previous and present government and has led to the current welfare reforms being implemented across the UK. In Autumn 2012, the CSJ is set to produce Breakthrough Britain II which will update its policy recommendations, with the aim of creating a cross-party consensus on some of the most important policy issues facing Britain today.
For more details about The Centre for Social Justice, go to: http://www.centreforsocialjustice.org.uk
For more details about Miller Philanthropy, go to: http://www.millerphilanthropy.com
To book tickets to the Celebrating Champions in the Community event, contact Rachael Dove of Miller Philanthropy on +44 (0) 20 7838 8650 or email [email protected]