After a rough, tough performance month in the pan-European equity markets, the instinct is always to look away from the detailed data and conclude in a world of tightening pandemic restrictions and an imminent (and hotly contested) American presidential election, that uncertainty must induce investment caution.
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This October marks 80 years since the opening of the Pennsylvania Turnpike, America’s first highway. Highways have been a critical driver of economic growth due to the connectivity, speed, and efficiency they provide. As Confucius so appropriately stated, “roads were made for journeys, not destinations.”
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Obtaining feedback from our clients is an important part of our business as it ensures we continue to provide the service our clients are seeking and don’t let things slip.
Our latest survey was conducted at the height of the market mayhem in March, where portfolios were being tested and communication with clients was essential. At times where markets are plummeting, clients need to know they can trust us to look after their money and make the right decisions. We also need to be available to speak to at any time as its obviously concerning watching markets around the world fall relentlessly. It is at times of stress where any cracks in our proposition will be exposed.
Thankfully, the survey results confirmed our commitment to providing a personal service built on trust, clear communication, and our expertise as financial planners and wealth managers.
We are pleased to report that of the 15 respondents, there was 100% overall satisfaction with our services and 100% of respondents would be happy to recommend our services to their friends and colleagues.
The survey also highlighted what matters most to our clients. Honesty and trust was the most important factor, followed by our knowledge and expertise. We scored 100% client satisfaction on both these metrics. This is important to us, as these metrics are fundamental to our proposition. Trust and expertise are hard to obtain, but very easy to lose without continued hard work.
Finally, many of our clients also deal with wealth managers or advisers at other firms as well as Raymond James, John Street. We asked these clients if they receive a better service from us, the same, or a better service from other companies they deal with. 100% of respondents said they receive a better service from us, which is reassuring.
Thank you to all our clients who responded in March. This year’s survey results are encouraging, but we will not to rest on our laurels. We continue to work to provide the best service possible for our clients and encourage further feedback from those who did not, or were unable to complete the survey in March.
If you would like to arrange a chat, please contact us.
The traditional early September think piece centres on the natural reset that a generalised return to work (and for the younger generation, school) brings after the typically languid summer holiday period. As 2020 is clearly a very different style of year, let us rip up the normal script and ask the simpler question of ‘does the world feel lucky?’
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Inflation is always a big concern when managing money for our clients. The impact of higher or lower inflation on different assets classes can be significant, so it is always a data point we pay close attention to.
The impact of the Coronavirus has dampened inflation expectations as demand has been significantly reduced by global lockdowns. However, monetary and fiscal stimulus in response to the global pandemic has been unprecedented, so does this present an impending inflation problem?
Andy Butcher spoke to Will Robins of the New Model Adviser on the topic of inflation, noting that while the short term outlook may be for lower inflation, as we look further out we need to be wary of its return.
The article can be accessed here.
If you would like to speak to us about our investment strategy, please do not hesitate to contact us.
Financial markets are always a three-dimensional jigsaw, with new pieces being added and deleted at whim every business day. But the signals from the last month have been especially difficult to discern. In contrast to the bounce back second quarter, July was a negative month for pan-European markets with the U.K. continuing to lag.
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The number of people paying inheritance tax (IHT) has fallen for the first time since 2009. The tax generated £5.2b in 2019/20, down from £5.4b in 2018/19. One possible reason for the reduction is the introduction of the residential nil rate band which allows families to pass on up to £1m of their estate tax free.
IHT remains a complex area, one which we believe with sensible planning can be significantly reduced.
Andy Butcher spoke to The Telegraph on the latest figures from HMRC. The article can be accessed here.
If you would like to discuss your IHT position and options to reduce your liability, please do not hesitate to contact us.
Please note that you are required to register with the Telegraph for free in order to read the full article. We are not affiliated with The Telegraph and the views and information expressed on their website are their own
We maintain our belief in the ‘American Dream’ as described by James Truslow Adams, that “life should be better and richer and fuller for everyone, with opportunity for each according to
ability or achievement,” regardless of social class or circumstances of birth. We not only acknowledge but embrace that we have work to do as a society, and hope that this year will serve as an inflection point as we advance toward a stronger and more united world.
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As an office, each year we look forward with a mix of excitement and apprehension to the Citywire 10k Charity run. Countless hours of training are required (so we’re told), so needless to say the threat of cancellation amid the Coronavirus pandemic was most unwelcome. Thankfully, to ensure the charities did not lose out, Citywire pulled out all the stops and took the run virtual!
Unfortunately, a virtual run still means we had to run. Ed, Andy and Stuart competed in the virtual 10k race, running round various streets in North London and Essex, while Latrena, having recently given birth to her daughter Mabel, competed in the 5k race around the roads of Beckenham. We all finished safely, and while we didn’t threaten the winners, we all beat our personal targets. As a team, we are delighted to have raised just over £2,000 for two great charities, St Francis Hospice and Neuroblastoma UK. Overall, Citywire raised over £25,000 through the race, which during these tough times is fantastic news for the two charities.
If you would like to donate to these great causes, the fundraising remains open here.
At any other time, a three percent bounce during May in the pan- European (including the U.K.) equity markets and the driest fifth month of the year in large swathes of the country since 1929, would represent an ideal entry into the summer months. However – despite recent lockdown liberalisations – these are far from normal times.
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