Welcome to the July edition of ‘Don’t Forget the Fish’, our monthly newsletter.

We had a quiet June in terms of major events, although Martin and Alison saw their hero Bruce Springsteen singing in the rain in Manchester; in fact Martin will also see him play in London in mid July. Other than the usual two or three meetings with fund management groups and investment managers, it was mainly heads down in the office putting the finishing touches to our processes for the Retail Distribution Review or RDR as it is known. This is a major change in the way financial advisors will need to work from 31 December 2012. The changes are profound for the profession, but as a progressive, highly qualified fee based firm the impact on TWP has been considerably less than the average advisory business. We have already made reference to this in previous communications, but will send out more details on RDR later in the month.

David and Martin have continued their tweeting over the month, so if you are hooked up to Twitter you can follow them at @TWP_David and @TWP_Martin . We have noticed that a number of you have started following them in the last few weeks. Thank you and we hope you are enjoying the commentary! As last month, we include a selection of tweets from June in the article below.

The last month has further undermined our confidence in the banking sector; firstly the mess with the computer system at RBS Group and latterly the Libor scandal further ruining Barclay’s reputation (which other main banks will subsequently be implicated?). Out of the situation though there is humour; we did see one wonderful photograph pasted on various websites which made us smile.

Finally, with the desperate need to find some sun somewhere, many of the TWP team will be off on their summer holidays at various times over the coming weeks. There will therefore be no ‘Don’t Forget the Fish’ in August, although we may well send out a couple of ‘Tiddlers’ in the mean time. Until September, have a great summer- in wellies in the UK and flip flops abroad…

Best wishes,

The Directors, Advisers and Staff at TWP.