The Year of COVID19 Gives Us All Cause for Reflection

Tuesday 15th December 2020

The Year of COVID19 Gives Us All Cause for Reflection

a photo of the article author

Article By Jan Bailey

The Year of COVID19 Gives Us All Cause for Reflection

2020 has been a truly exceptional year – we would call it unprecedented if we didn’t feel that word has already been overused.

The way that COVID19 has encompassed everything we do is clear to see in Collins Dictionary’s Word of the Year 2020 – ‘Lockdown’ – and shortlisted candidates, of which five are associated with the pandemic (Coronavirus, Key Worker, Furlough, Self-isolate and Social Distancing).

As 2020 draws to a close, we’ve been reflecting on how the pandemic has impacted on financial services.

We are very fortunate that our business has survived – and even thrived – during the pandemic and we have even managed to take on additional team members. Our Advisers have continued to meet with clients (albeit often via Zoom) and we hope you will agree that this transition hasn’t affected the quality of the services we provide to you.

As you would expect in a global pandemic, there has been some impact on investments, but both the TM Brunsdon Cautious Growth Fund and the TM Brunsdon Adventurous Growth Fund have performed well in comparison with other similar funds and their IA Sector benchmarks.

The virus has been brutal in the way it has singled out the oldest and frailest in our communities and those who have underlying medical conditions. This has been brought sharply to the attention of some of our clients who’ve been contacted by their local GP surgery to be asked whether they would want to be resuscitated, should they become very ill with COVID19.

Indeed, the past year has caused many of our clients to reflect deeply on their own situation, particularly in relation to their health and eventual demise. The pandemic has highlighted the unpredictability of life and our clients want to make sure that their wishes in relation to wealth transfer are clearly understood and specified.

This can be a very sensitive topic and many people feel uncomfortable talking about their own mortality. After all, it can be difficult to imagine the world without oneself in it, let alone plan for that eventuality.

However, we would encourage all of our clients to put plans in place, not least to make sure that their wishes are known and carried out but also so that Inheritance Tax considerations are taken on board. This can be a complicated subject, but you will find our Financial Advisers sensitive and supportive and happy to advise you.

In the meantime, all of us here at Brunsdon Financial hope you have a healthy and contented Festive Season. Please Stay Safe and we look forward to seeing you in 2021.