Business & Professional
Money Matters: 10 Years ofthe Belper Our FirsttoDecade When BestIFS:Action Business & Professional 10 years ago, Belper Independent Financial Take Noformed Action… Solutionsiswas after its founder (me, Money Matters:
Kevin Glover) was made redundant from The As I write this, there’sSociety. a great deal of unease, Derbyshire Building 10 Years of Belper IFS: OurIt’s Firsta worrying Decade uncertainty and conflict in the world. Since then, Belper has seen the loss of The Derbyshire, time. While we all have fears and concerns on 10 years ago, Thomas Belper Independent Woolworths, Somerfield, Cook andFinancial Britannia formed founder (me, many levels, ISolutions turn towas my role asafter an its Independent Building Society to name but a few long-standing Glover) was made institutions thatKevin are now confined toredundant history. from The Financial Adviser. Derbyshire Building Society.
Generations of people have been served or been Since then, Belper the loss ofprobably The Derbyshire, A large part of of these my role over thehas lastseen 2You years has been customers organisations. are Woolworths, Somerfield, Thomas Cook and Britannia providing comfort andAge counsel; allaying concerns one. State Pension hastochanged times and Building Society name butinvestors’ aseveral few long-standing overmost fears likely of theinstitutions global markets during very turbulent so again. least interest rates have will do that areAt now confined to history. times. Investors saw this turbulence viabeen the media but also Generations of people have or been not changed much! Rubbish then and notserved much better of these Youinvestment are probably significant falls incustomers the values of theorganisations. pensions and today. one. State Pension Age has changed several times and funds. Covid felt like it stopped the world turning and the will most likely do so again. At least interest rates have
global markets just the UK) collapsed inand March 2020 not changed much! then not the much better Consider this –(not joining the EU Rubbish was considered right significantly. Mostly turned into a 7-month financial blip today.this decision once upon a time. albeit it was very stressful at the time for many. Incredibly,
Consider this – joining the EU was considered the right
the calendar year room 2020 saw a hugetovaccination-based From my dining in 2009, an office in Heanor, decision once upon a time. recovery and produced often amazing and unexpected back to Belper and now to the present location, much positive returnsFrom givenmy their low point in thetospring dining room in 2009, officeofinthe has the greyness of myanhair andHeanor, the back to Belper and now to the present location, much samechanged year. including size of my waistline! Now as a team of 8 we seen has changed including the greyness of myhave hair and the size of my waistline! as a team of 8 we have seen the clientwe base expand over theNow years. ‘Generous’ So today have seen an incredibly tricky start to 2022. the client base expand over thelegislation years. ‘Generous’ successive Chancellors introduce new Firstly, unwanted rising inflation meaning central banks successive Chancellors introduce new legislation impacting the the need forwhich have moved topublic slow itand down by raising interest rates impacting thesignposting public and signposting the need for financial advice. traditionally coolfinancial downadvice. global economies. Unfortunately,
my lifetime of 50 years and I remember a good few of them.
(Techthe Bubble, the Banking Crisis Covid toshould name that need9/11, for financial advice andand a solution a few). This current uncertainty will be another,and to asolutions lesser Financial products not be seen as a one-off. extentprobably we hope.right We can be certain thatjust other major events were at the time, but how much has will take place the future but of course, we cannot predict changed sinceintheir inception? with any accuracy exactly what these may be.
Investment funds (whether held in pension wrappers or Previous conflicts have seen shrink anticipation alternative structures suchmarkets as Stocks and inShares ISAs),and in fear of war. Then, perversely, growing during the war itself. are by fund managers who are also human that mostly the need run for financial advice and a solution should Not all cases though. Financial products solutions not beinseen a one-off. beings. Asashumans they may retire,anddefect to other were probably right at the time, but just how much has companies, or run out of luck! Solutions thatto may have changed since inception?sitting on ‘paper losses’ So, whilst wetheir encourage avoid been right at the startas may no longer suitableitor crystallising ‘real losses’ a general ‘rule be of thumb’, is Investment funds (whether in pension wrappers effective. Leading fundheld managers in 2009 may no longer not altogether reliable. Some investments willor never alternative such as Stocks and Shares ISAs), 2020. be leadingstructures fundfund managers asand we approach recover; unreliable completely are mostlysome run by are managers who are also humanunsuitable. Circumstances each are to different. The means beings. As humansfor they mayinvestor retire, defect other
companies, orthe runpension out of luck! Solutions may have They will In April 2015, changed. to ‘ride out storm’ is regulations not alwaysthat available to every been right at the startchange may longer bePensions suitable or from prior almost certainly again. investor and actual realno loss could be devastating. Greatto effective. Leading fund managers in 2009 may no longer this time maymanagers no longer suitable – but just how would care is required. be leading fund as webe approach 2020. you know? So, as you sit munching your turkey over the will whatsoever April 2015, pension regulations changed. IInregularly interview clientshow who have They no festive period, consider many of idea these questions certainly change again. Pensions from prior to quality ifalmost the pension or investment they is good apply to you and see what mayhave benefit from having a this time may no longer be suitable – but just how would or often annual review. yousuitable. know? So,Many as youproviders sit munching youronly turkeysupply over the
statements. The valuations usually only show the date of the festive period, consider how many of these questions
apply to you see what mayto havingfinancial a of the journey last statement compared this. from No mention Is 2020 theand time to take abenefit look at your review. that the investment pension between these two arrangements onceoragain andtook get them fit for spot dates. Investors are blind to the levels of risk they are purpose? Is 2020 the time to take a look at your financial
exposed to and, many leave alone in blind arrangements once unaware, again and get theminvestors fit for
faith. So, sitting tight may not be the best solution and advice purpose? Wishing you a happy 2020 and a prosperous next 10 should be sought before making decisions to sell or remain in years. Wishing you a fund happyor 2020 and a prosperous next 10 the pension investment. years.
the markets don’t like this and react with large sell-offs due
What about you – what has changed in your lives over in your lives over What aboutlower you what has to expected returns for changed investors the growth the–last 10 years? How manyas jobs have you had? Has the last 10for years? manyshrink. jobs have you had? prospects many companies Secondly, all thisHas yourHow family extended or tragedy struck? How many times haveoryou moved house? How manymany pension coinciding with the escalating military conflict. your family extended tragedy struck? How you been a member and simply left, times have youschemes movedhave house? How manyofpension through one reason or another? How many cars, So normalhave best partners practice would be sitoftight long asleft, you schemes you been aother member andas simply and life to events have occurred? can affordone to and alloworthe markets How to recover they through reason another? many(ascars, mostly doand a la other 2020). Butevents the 2020 recovery was and unusually How many investments have you made when partners life have occurred? were they last reviewed and looked My point is quick and historically recoveries typically take 2at?years+.
Some many much longer. Therehave have you beenmade manyand global collapses in How investments when were they last reviewed and looked at? My point is
By Kevin Glover, Belper IFS
By Kevin KevinGlover, Glover,Belper Belper IFS IFS
This information is general only and is not intended to
requirements. Theand data should to to address your particular This information general only isabove not intended information isisgeneral only and is not intended not be relied upon in its entirety and shall not be deemed address your particular requirements. The data above should not requirements. The data above should address your particular to be or constitute advice. No individual or company should be upon in its entirety and shall not be deemed to be or not be relied upon in without its entirety and shall not be deemed act relied upon such information receiving appropriate professional advice aindividual thorough examination of their constitute advice.after Noadvice. orindividual company should act upon such to be or constitute No or company should particular situation. information without receivingwithout appropriate professional advice after act upon such information receiving appropriate a thorough examination particular situation. of their professional advice afterofatheir thorough examination particular situation.
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To To advertise advertise contact contact Ruth: Ruth: T: T: 01332 01332 883140 883140 M: M: 07545 07545 261034 261034 E: E: ruth@allthingslocal.co.uk ruth@allthingslocal.co.uk
