The affect of Covid-19 is still being felt world-wide and financial markets have been volatile, as you would expect in times of uncertainty, with many sectors and funds being adversely impacted.
At Hamnett Wealth Management, our investment philosophy has always been to look to the long term. We have never attempted to predict the immediate path of the stock markets and we are not about to start now. Over the last 30 years, we have witnessed several global crises. Each one different from the last. However, what we have learnt from all of them is to keep calm and endure.
There will be those of you who want to ‘do something’ but often the best, and hardest, option is to do nothing. Whilst uncertainty can create anxiety, don’t be tempted to make any rash decisions. We are in constant contact with the fund management groups and the over-riding sentiment that we are hearing is that Covid-19 will have an impact on all businesses – some more than others. Therefore we are currently looking at the possibilities and focusing on those companies that can weather this storm and will continue to adjust our portfolios over time.
For help and impartial advice during this time, you could do the following:
Contact the Pension Advisory Service to discuss your situation – www.pensionadvisoryservice.org.uk
If you’re aged 55 or over, you could have a Pension Wise guidance session to fully understand your options – www.pensionwise.gov.uk
There are plenty of free sites to visit where you can increase your understanding of pensions savings and investments. These sites all offer guidance which should not be misunderstood for advice.
If you would then like to have a chat with an independent financial advisor and get personalised financial advice, please call us on 0114 235 3500 for a free initial meeting. Our office is operating as normal but we can also offer appointments by telephone or Facetime, Microsoft teams & Zoom.