Lockdown Diaries - 7.5.2020
9th May 2020
We’re here for you – a message from the Pilgrim Team
To all our clients, we are here for you.
We have taken the necessary steps to deliver our service from our homes but as you can see, we are in regular contact with each other. The transition to working from home has been successful over the past 7 weeks. We are really benefitting from the extensive use of technology.
Boris Johnson is due to share his “roadmap” for easing the coronavirus lockdown on Sunday in a televised address to the nation. However, this will follow today’s (7th May) official review of the nationwide shutdown, which is expected to be extended by a further three weeks. So, any easements would not be permitted until the end of this month. We will be working from home for some time but this does not pose a problem albeit, we all look forward to the day that we can meet up with our clients on a face-face basis.
Some clients have asked whether investment markets have reached the bottom? Well, markets have displayed a remarkable turnaround since the lows in March. How can this be when the news is so bad, not only economically but health wise too? It may well be that the lows have been etched out, at least for a while. My point is that we all know the bad news and exactly what has caused it. We know the virus will be with us for quite some time to come and we are going to have to adapt. Business is remarkably good at adapting, at least the good ones - you have to deal with change all the time.
There has been unprecedented action from central banks and governments. Governments have taken fiscal action injecting money into both business’s and people to make sure there will be an economy to come back to. It’s not perfect, but it’s a good work in progress.
We will do our very best to help our clients navigate through these very difficult times, rest assured.
What do you dream of doing most once this is over? I crave sitting at a beach restaurant with a glass of great red wine, somewhere buzzy, surrounded by happy people! There are other activities such as having family and friends over, watching a film from a cinema seat and to get in the car and drive for longer than is currently permitted.
Pop Master update: my wife continues to win!
The Pilgrim team are here to help you, so please do not hesitate to get in contact if you would value a discussion. In the meantime, I wish you and your family a happy and healthy bank holiday weekend.
Pilgrim Financial Planning