May 2020: A nine point lockdown lowdown
6th May 2020
Our key messages this month are:
1. We are very much open for business, even if at the time of writing the office has to be closed to the public and the FCA has re-iterated that it does not expect financial advice to be delivered face to face presently.
2. We are enjoying speaking with you whether for work in progress, forward planning, reassurance or even just to exchange views on the current situation. We know some of you are quite isolated, so please do not sit at home worrying when you can get in touch.
3. As well as phone we can communicate by your preferred choice of video (FaceTime, Skype, Microsoft Teams, Zoom) if you prefer seeing us, as well as email, through our Personal Finance Portal (preferred) and the post.
4. Some of the quarterly valuation statements arriving through your letterbox presently with statement dates ending at the end of March cover a particularly difficult three month valuation period. April saw rallies in shares globally, and in investment grade corporate bonds, offering some improvement, as well as some vindication that time in the market is the best strategy for most.
5. Shorter-term investors such as those who in 2020 have capital requirements that are not known to us or who owing to the circumstances are re-assessing plans such as bringing forward retirement, need to be in contact with us.
6. We continue to deliver our ongoing Aftercare service. We have a higher than usual number of requests to defer annual assessments until later in the year. Whilst this is understandable we may need to manage apparently pent-up demand in due course, particularly if project work resulting from house and business sales, and Estates increases at the same time once the economy is allowed to get going again.
7. In April we have undertaken some useful tax planning with early Investment ISA contributions to ensure income remains within allowances, and owing to interest rates for savers remaining so low.
8. We have published usual monthly commentaries to give you an update on current market conditions.
9. To promote Burnham-on-Sea's Town Centre businesses during these unusual times, we are taking part in the Burnham-on-Sea Chamber of Trade & Commerce's online trail. Further information and entry form here.
Sending our ongoing best wishes and we look forward to meeting you again soon when it is safe to do so.