A Message from Lord Pickles and Lord Blunkett, followed by Nestor's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Nestor is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

Highlighting best practice
Nick Leech, managing
Nestor was formed in February 2005, in northwest England,
by a group of highly experienced independent financial
advisers as Nestor Limited Liability Partnership. In May
2013, Nestor was incorporated as a limited company, and
is authorised and regulated by the FCA, operating within its
regulatory framework. The company is owned and managed
by seven FCA-regulated individuals and employs around 25
people. It specialises in pre- and post-settlement financial advice
to personal injury claimants and their representatives, while also
offering accountancy and broader wealth management services
to a diverse group of individuals with significant investable assets.
Nestor is based in the northwest of England and has clients across
the whole of the UK. Nick Leech, managing director, expands.
We provide advice to over 1,500 active clients, and our total funds under influence
are over £550 million. Since the introduction of the periodical payment regime under
the Courts Act 2005, we receive instructions concerning the viability of periodical
payments and many other instructions involving forensic accountancy and state
benefit advice. We implement over 400 personal injury trusts per year, thus helping
personal injury claimants to maintain their entitlement to means-tested state support.
We have a good understanding of the intricacies of local authority provision, state
benefits and the Court of Protection, and act for over 120 deputies under the Mental
Capacity Act 2007. Our deposit cash management service looks after around £100
million in a range of deposit instruments, and the average size of an investment
portfolio we look after is £700,000, the bulk of which is made up of personal injury
damages awards but also clients with significant investable assets.
At Nestor, our focus is simple – our clients are our business. Clients bring us many
questions, and we take pride in the quality of our answers and the success of our
solutions. At our heart is an unwavering commitment to quality and integrity; this
ensures we can maintain our fundamental responsibilities of building and maintaining
complete trust with our clients, professional connections and employees.
Nestor’s values are far more than a list of points. They are how we behave and how we
challenge ourselves to help our clients achieve their objectives. By exercising skill and
objectivity, we aim to deliver the highest levels of service and advice to all our clients at
all times. Each of our clients deals with a director, and we are open about the way we
carry out our business, encouraging feedback and supporting staff development.
Independence and regulation
We are proud of our independence. This means that we aren’t contracted to suggest
any one product or solution. We have the freedom to recommend the best course of
action for our clients with complete impartiality, unfettered by conflicting business or
shareholder interests.
»Managing director: Nick Leech
»Founded in 2005
»Incorporated in 2013
»Based across northwest
»Services: Director-led
independent financial planning
»No. of employees: around 25
»Assisted 7IM to create the
UK’s first specialised fund for
personal injury claimants
»Funds under influence:
Over£550 million
We continue to embrace
continual change and
most recently, like many,
have implemented
more GDPR and MiFID
processes. We recognise
the simplicity of what
we do, but completely
embrace the importance
and impact that advice
can have on people’s
lives, and are committed
to strive continuously for
self-improvement, while
also looking outward to
policymakers and key
influencers across the UK.
We are strictly regulated by the FCA. In
addition, we are proud of our strong
internal governance and management
processes which, in turn, are scrutinised
by specialist consultants, continuous best
practice reviews and rigorous due diligence
processes. Nothing is left tochance.
On top of the professional processes
we put in place, we continuously
strive to put the needs of our clients
at the centre of all advice. This means
understanding the realities of their lives
and being aware that while we deal
with complex finance every day, for
them this may be unfamiliar territory.
Product innovation
Our ability has led us towards
innovation and specialist product
development within our personal injury
market and wider financial services.
Our core investment strategy proposition
is built around a cautious investment
approach, and we undertake a significant
amount of work for our clients based
on the reduction of volatility within
investment portfolios. We develop low
risk financial strategies with several
investment managers but two of our
most notable achievements to date are:
»Assisting Seven Investment
Management (7IM) to create the UK’s
first specialised investment fund for
personal injury claimants, the 7IM
Personal Injury Fund. This offers a
unique investment approach for this
special class of investors. Launched in
October 2009, the fund has grown to
over £280 million and still is unique as
the only designated investment fund for
recipients of personal injury damages.
»Designing and launching the Nestor
Wealth Solutions Portfolios with
Liontrust in 2013. These are a suite of
actively managed risk rated multi-asset
portfolios and now account for invested
client assets of over £150 million.
Thought leaders
We regularly contribute to a variety of
journals, and look to actively take part
in legislative consultations to influence
positive outcomes for our core market.
Among others, we have published
articles in:
Clinical Risk
The Barrister
Personal Injury Law Journal
(PILJ) and
The Law Society Gazette
on a range of
topics. Our half-yearly
Personal Injury
financial newsletters
have a circulation of over 8,000
professionals and are well received.
Several of our directors have been at
the forefront of emerging case law and
regulatory changes. The list illustrates
the breadth and depth of knowledge
and experience that we enjoy:
»Expert evidence to Court of Protection
following the Cant quinquennial review
of the Public Trust Office.
»2001: Private trust applications for
patients, put to court via the official
solicitor for approval of trust arrangements.
»Involved in evidence to the working
party on structured settlements, which
then altered the result of personal injury
damages awards where future losses
exceeded £500,000.
»Correspondence with the DWP in
relation to SI 2442, which created the
52-week capital disregard for personal
injury damages.
»2007: First time as contributing author
for fourth edition of
Clinical Negligence
»2007: Involved in the then-highest
cerebral palsy lump sum settlement in
England, which was £6.7 million.
»2008: Retained as expert adviser in
Thompstone’s first landmark periodical
payment case.
»2009: Involved in largest periodical
payment order in 2009 involving
an annual payment to a claimant of
£485,000 per annum.
»2010: Became annual “baton holders”
for Headway, the brain injury charity.
»2011: Co-founders of Brain Injury
Group, UK’s first national network
of dedicated brain injury lawyers and
expert services to support clients with
brain injuries and their families.
»2014: Sponsored Association of
Personal Injury Lawyers Military Claims
»2014: Nestor Foundation charitable
trust is launched.
»2015: Contributing authors for fifth
edition of
Clinical Negligence
»2017: Civil Liability Bill consultation -
Lord Chancellor discount rate review.
Each of our
clients deals
with a director,
and we are
open about the
way we carry
out our
feedback and
supporting staff

This article was sponsored by Nestor. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from The Rt Hon Theresa May MP.

The Rt Hon Theresa May MP's Foreword For The Parliamentary Review

By The Rt Hon Theresa May MP

This foreword from the then Prime Minister appeared in the 2018/19 Parliamentary Review.

British politics provides ample material for analysis in the pages of The Parliamentary Review. For Her Majesty’s Government, our task in the year ahead is clear: to achieve the best Brexit deal for Britain and to carry on our work to build a more prosperous and united country – one that truly works for everyone. 

The right Brexit deal will not be sufficient on its own to secure a more prosperous future for Britain. We also need to ensure that our economy is ready for what tomorrow will bring. Our Modern Industrial Strategy is our plan to do that. It means Government stepping up to secure the foundations of our productivity: providing an education system that delivers the skills our economy needs, improving school standards and transforming technical education; delivering infrastructure for growth; ensuring people have the homes they need in the places they want to live. It is all about taking action for the long-term that will pay dividends in the future.

But it also goes beyond that. Government, the private sector and academia working together as strategic partners achieve far more than we could separately. That is why we have set an ambitious goal of lifting UK public and private research and development investment to 2.4 per cent of GDP by 2027. It is why we are developing four Grand Challenges, the big drivers of social and economic change in the world today: harnessing artificial intelligence and the data revolution; leading in changes to the future of mobility; meeting the challenges of our ageing society; and driving ahead the revolution in clean growth. By focusing our efforts on making the most of these areas of enormous potential, we can develop new exports, grow new industries and create more good jobs in every part of our country.

Years of hard work and sacrifice from the British people have got our deficit down by over three quarters. We are building on this success by taking a balanced approach to public spending. We are continuing to deal with our debts, so that our economy can remain strong and we can protect people’s jobs, and at the same time we are investing in vital public services, like our NHS. We have set out plans to increase NHS funding annually by an average by 3.4 percent in real terms: that is £394 million a week more. In return, the NHS will produce a ten-year plan, led by doctors and nurses, to eliminate waste and improve patient care.

I believe that Britain can look to the future with confidence. We are leaving the EU and setting a new course for prosperity as a global trading nation. We have a Modern Industrial Strategy that is strengthening the foundations of our economy and helping us to seize the opportunities of the future. We are investing in the public services we all rely on and helping them to grow and improve. Building on our country’s great strengths – our world-class universities and researchers, our excellent services sector, our cutting edge manufacturers, our vibrant creative industries, our dedicated public servants – we can look towards a new decade that is ripe with possibility. The government I lead is doing all it can to make that brighter future a reality for everyone in our country. 

British politics provides ample material for analysis in the pages of The Parliamentary Review 
The Rt Hon Theresa May MP
Prime Minister