WFC Update

First and foremost, we would like to reassure you that Whitechurch remains open for business during this difficult time. Whilst we may not currently be able to visit you in person, all our advisers and backroom staff are still working hard from various locations around the country to continue to maintain our service to you.

If you have any concerns during this current period of uncertainty and would like to speak to somebody, please pick up the phone or drop us an e-mail and we’ll be pleased to talk to you.

Opportunities?

Whilst we have already been able to provide support and guidance to many of our customers worried about their existing holdings, we have also received a number of enquiries from those who have seen an opportunity and want to take advantage of the current economic situation whilst stock markets values are low, particularly with a view to making use of the new year’s ISA allowance.

We don’t disagree, the FTSE 100 closed on 31st December 2020 at 7,532 and as at the time of writing stood at 5,754 (04/05/20). Governments around the world are now invoking fiscal and monetary policies to cushions falls and support Markets, although whether these measures are sufficient remain to be seen. 

Top Ups, New Investments, New Service

We have temporarily simplified our advice process for clients who either wish to top-up their existing investments or utilise cash funds to invest from scratch.  In line with the simplified process we are also reducing our initial advice fees by 50% as well as waiving our transaction fees, for simple top ups this will be reduced further still.  Your adviser can discuss this with you prior to providing any advice.

The service is restricted to top ups and cash investments and the advice package will include:

• A focused fact-finding meeting, conducted by telephone, Skype, FaceTime or Zoom
• Completion of Risk Discussion and Ethical Preference Questionnaires where applicable, to ensure the most suitable investment strategy for your needs.
• A fully personalised Suitability Report detailing our research and recommendations.
• Processing of any documentation such as application forms and illustrations.

Please do get in touch if you would like to discuss further with an adviser.  E mail would be preferable, however if phone is easier then please don’t hesitate to call. 

Email:                   clientservices@whitechurch.co.uk

Phone:                  0117 9166150 (option 2)

Taking Income

Another hot topic and one worthy of consideration, is the level of income many clients are currently receiving from investments.

A lot of us are spending less at the moment and the stockmarket has fallen.  Many individuals are finding the income is simply accumulating in their bank account which is earning little or no interest and at the same time could be reducing the value of their investment or pension.

This is of particular importance for those taking an income from drawdown pension arrangements, and even more relevant to those taking a maximum income from these contracts.

Our advisers will be happy to discuss your options, whether it be an income holiday or reducing pension payments, in most cases there will be no charge.

We would urge clients taking income from pension drawdown contracts to contact us, but in any event we aim to be in touch within the next few weeks.

Further Assistance

Of course, we remain open for business as usual and would be happy to discuss how we can help with any other areas of financial planning or wealth management you or your family may need. 

Current events are focusing minds and protection is something we’ve had a lot of queries about lately, we can of course advise on many areas in this sector from life cover to family income benefit, mortgage protection to income protection, keyman insurance for businesses and inheritance planning for wealth preservation.

Conclusion

Unsettling times these may be, but we are still here to help and hope we have provided some food for thought and opportunities for planning despite the conditions.

The most important thing of course is for us, our staff, our clients and their families to stay safe and well.

Fees may attract VAT of 20% depending on the recommendations made. Any additional advice areas may attract additional fees at the standard rates as per our Service, Costs &Client Agreement.  An adviser will discuss fees with you and no chargeable work will be carried out until this has been agreed and any charges confirmed in writing.

FOR UK FINANCIAL ADVISERS ONLY, NOT APPROVED FOR USE BY RETAIL CUSTOMERS AND SHOULDN’T BE RELIED UPON BY ANY OTHER PERSON   

This publication is issued and approved by Whitechurch Securities Limited which is authorised and regulated by the Financial Conduct Authority. The views and opinions expressed in this publication are those of the Whitechurch Securities Investment Managers. Opinions are based upon information Whitechurch consider correct and reliable but are subject to change without notice. This publication is intended to provide information of a general nature and you should not treat any opinion expressed as a specific recommendation to make a particular investment or follow a particular strategy. We have made great efforts to ensure contents of the publication are correct at the date of printing and do not accept any responsibility for errors or omissions. Past performance is not a guide to future performance. Value of investments can fall and investors may get back less than they invested. All investments can incur losses of capital whilst income may fluctuate and cannot be guaranteed.