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Case studies and testimonials

Halo Financial works hard with every client to ensure they find the best and most appropriate currency solution, delivering award-winning customer service and competitive rates. This gives our clients peace of mind and the ability to focus on other parts of the business, knowing that their currency requirements are in good hands. Don’t just take our word for it – find out how we helped these companies with strategic currency services and a trusted, one-to-one relationship.

Safety and lighting company - currency hedging strategy


Company overview:

The client is a manufacturer and distributor of security, safety, fire protection, home automation and lighting products with 600 staff and an annual foreign exchange exposure of circa £12 million. Products are manufactured in China and distributed throughout the UK and Europe.
 
Specific challenge:
  • Chinese production costs in US dollars, profit taken in the UK
  • Complex international payments structure: high volumes and frequency
  • Client was paying invoices when they were due and had not hedged
  • EU referendum created an uncertain political and economic landscape with the value of Sterling falling
Halo Financial provided an external treasury service that:
  • Audited previous FX transactions to identify improvements and target savings
  • Identified event risks and devised a strategy to target specific rates using a mixture of stop and limit orders
  • Put in place a strip of forwards to cover the majority of the FX risk.
Value delivered:
  • The approximate saving in 2016 was circa £350,000 (2.9%)
  • The client continues to have forward protection above US$1.40.
  • The client is utilising these forward contracts and gaining market share by providing better pricing than competitors based on the cost savings.
Safety and lighting company

UK Trade Association


Company overview:

The client is a trade association and as part of its work, they attend events across the world with member organisations, helping to promote and support the UK entertainment industry globally.
 
Case study - gaming industry body - Halo Financial
Working with Halo Financial

When attending events such as the Game Development Conference (GDC) in the past, the trade association had conducted their own transfers, however they had found the associated time and costs of doing it themselves to be a major downfall. The client already had an existing relationship with Halo Financial, and felt that Halo would be the ideal company to help them with their exchange requirements. Over a ten month period, Halo Financial undertook several transactions totalling more than $160,000.

Events manager Alexa found the process of working with Halo Financial very easy, as she explains:

“I’m not a financially minded person, but the team took the time to talk me through all my options to ensure everything was explained perfectly. This made a big difference to my understanding; if I did have a question on anything, I could quite easily ask them. Now being in the position to have one point of contact for all transactions makes the day-to-day process a lot easier.”

The high-level of customer service offered by Halo Financial has made the administration of the transactions far easier, as Alexa noted:  
 
“Halo are brilliant because they always respond when you need them to; they’re always there when we call and the transfers happen very quickly. On top of this, they work hard to ensure there is good back up paperwork of everything they have done, statements of accounts and other documents etc. This means it’s a very hassle free service”.

The benefits of using Halo

When previously completing transfers themselves, the client had faced problems trying to keep up with the ever-fluctuating exchange rate, which served as another reason why they sought the assistance of Halo. Alexa explains: “Working with Halo has meant that we were able to hold and fix a rate for a certain amount of money, which you can argue is necessary if you’re running a budget of well over $100,000!”

Halo Financial were able to lock in a desired rate for their client, ensuring they would not fall foul of a massive change in the exchange rate which could result in them losing thousands of Pounds or Dollars, and negatively impacting on the smaller companies at the event. Alexa continues:” To always know the exchange rate, thanks to the team’s expertise means we can feel secure in our spending as nothing is going to change or fluctuate dramatically; this has been one of our biggest benefits.”

An ongoing relationship

Thanks to the ease of working with Halo and the associated cost-benefits, the client will be using the services of Halo for return visits to the US for any other events that would be applicable for this service. Alexa concludes: “We’ve been extremely happy with the level of service from Halo Financial and certainly look forward to continuing to work with them; we wouldn’t hesitate to recommend them to others in a similar position.”

Food and drink company


Company overview:

Health food company with 25-year FMCG heritage, partnering with over 20 of the largest UK retail outlets.

The challenge:
  • Key brands in three high-growth sectors – company needs to remain competitive
  • Demand increasing in receptive market – MD doesn’t want to raise prices
  • Significant currency exposure to the business from importing goods from Belgium
Case study - Food and drink company - Halo Financial
Financial approach:
  • Halo works with the company to provide a personal and collaborative service, building the strategy aligned with the company’s vision, values and business objectives. 
  • Strategic guidance, a tailored hedging strategy and currency execution. 
  • Identifying opportunities in the currency markets when rates are favourable and to protect against risk from sharp adverse movements.
Value delivered:
  • The company has doubled their volumes year-on-year and expect to increase revenues further in 2018.
  • The hedging facility provides security and protects payments at timescales that suit the needs of the business. 
  • The level of personal service received from their dedicated, MSTA-qualified Halo Currency Consultant has built a long-term, trusting relationship over the past five years. Halo’s Head of Corporate Dealing updates the company personally whenever markets are moving and there could be potential implications for the business’s bottom line.
The company’s MD commented, “The strategic approach and hedging facility via our personal currency specialist has made a significant difference to our business and we believe genuinely differentiates Halo Financial from their competitors. We trust their guidance, which has been spot on every time we have worked together.”

Toy manufacturer 

Case study - Wooden toy train with colorful blocs isolated
"We’re an international company that specialises in designing, developing and manufacturing toys. That means we have to make a lot of international payments, across a range of different countries. We use Halo Financial to manage our currency transfers – in these uncertain times, it really pays to understand the currency markets and how they affect our bottom line. Every stage of our business can be affected by currencies constantly moving up and down – and it also has a big effect on the companies we work with in the supply chain. Our currency consultant guided us through how the currency markets are moving and how it affects our business."

- CEO, International toy manufacturer

Reviews

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30th Nov
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Easy to use - I transfer money every month; the ph...
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Did exactly what they said they would do. Transfer...
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Never a problem, good rates, easy transfers, pleas...
Michael Faulkner-Shotter - 22nd Nov
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