MATTERS Brian Mole IFA Limited, 2020 working experiences

Who would of thought what would be happening during 2020 when we celebrated the new year on 1st January. Most people had only the potential worry of BREXIT to concern them.

The COVID virus has taken everyone by surprise by the speed everything has happened to individuals and society in general.

At Brian Mole IFA although we closed the office on governmental instructions on 23rd March and all our staff worked from home, we have been available for all our clients new and old throughout these troubled times. We returned to the office in June, after taking further governmental advice.

For our clients, 2020 has been challenging to say the least. We as a company of experienced Independent Financial Advisers have been available to guide and advise clients to ease their concerns and offer personal support by offering advice on the phone, by email, zoom meetings or where appropriate, client meetings at their homes or gardens, following COVID compliant social distance at all times. We understand the world is a rapidly changing place and the need for sensible, local, professional advice has never been more important.

Decisions clients are making or considering at this time can have an impact on their whole financial future and so need careful planning and consideration before taking actions. We have all had to adjust to life post lockdown and we understand that this has been difficult for both you and our staff.

As a business Brain Mole IFA have invested heavily in technology and have one of the most advanced client management systems available. We therefore have been fortunate to be able to maintain our business without any real impact on it.

The Government continues to provide guidance to all employers, and we will continue to follow the rules and guidelines. At Brian Mole IFA, the Directors wish to ensure that all the employees, their families and of course all our clients are protected.

We have spent time analysing the building and introducing various protocols to ensure adequate social distancing, one advantage of our “older style” offices is the lack of open plan areas the vast majority of the team have their own individual office where they can work in isolation.

Our message is very clear, we as a company are here to advise and assist all our clients and potential new clients at these very uncertain times.

Question. I am worried about my investments and really not sure what to do?

Answer. Don’t panic. If in doubt, do nothing.

Question. I have a number of investments I have built over the years, they have all performed at different levels of performance, how do I know which of these at present are okay or not?

Answer. The starting point, it is vital you fully understand the level of risk you are taking with any investment you have or plan to have now or in the future.

Question. I am concerned whether I should withdraw my stock market investments. They have dropped in value but nothing disastrous.

Answer. With any investment with any form of stock market content. The important principle to remember is ‘time in the market, not timing the market’

Selling any investments at the present time ‘only consolidates the loss’ in real terms the values paper are converted to a real cash loss. Investors still have exactly the same units they had in March, they are just valued less at present Question. I have money sitting in my savings account I was considering investing. Is this or good or bad time to invest? Answer. On the positive side if you are comfortable with the potential risk, it may be a great time to invest money as you are buying more units for your money in an investment at this time. There are many different levels of risk, you need to know firstly what level of risk you are comfortable, with when investing.

Question. We were confident investors, however due to pandemic we are now somewhat nervous and wonder what real benefits there are in using an independent financial adviser?

Answer. At times like these, you need to be aware of every aspect of your current investments and potential new ones you are considering before making any decisions.

In any aspect of life, it is always better to use an expert if you are not fully comfortable in all areas of the field of advice you require. You would use an electrician for electrical work, a plumber for plumbing work, a mechanic for your car. So why would you not use an independent financial adviser for your investment advice.