If we had to choose one word to sum up this year, without doubt it had to be ‘unprecedented’. This is defined as ‘something that has never been done, known or seen before’. We have seen a lot of unprecedented things happen in 2020, and whilst we have had to adapt as a business, things have remained the same throughout: our core values, culture, our relationships with you and our responsibility for helping you to achieve your financial goals.
When Covid-19 took hold in March, we saw not only a national but worldwide lockdown. We watched as the Stock markets plummeted and at times with record declines. Events like these highlights why communication is such an important part of financial planning. We are here to help you navigate financial changes whether good or bad and any major life transitions.
Having our financial specialists on hand to advise and guide, we hope has brought real peace of mind, during such uncertain times. Finance can be complex and the decisions you make today will affect your future financial security, that’s why we forecast and review your financial situation at least yearly, many of you doing this remotely with your adviser during the pandemic.
During this period, we also saw the introduction of our new Personal Finance Portal – giving you more transparency, security and the tools to view how your assets are performing and enabling a two-way conversation with your adviser – even more useful during Covid-19. We hope this improvement to your online access provided comfort and reassurance that your best interests are being looked after.
‘Time in the market – not timing the market.’ – Wesley Wilkes Senior Investment Manager 2020.
Unfortunately, some people make 30-year investment decisions based on the last 30 minutes’ worth of news. This can have massive implications for your long-term wealth. Here at IronMarket we believe that by having a robust financial plan, reviewing it regularly and sticking with it during the inevitable phases of market turbulence, history tells us that you will likely end up far better off than those who try to ‘time’ the market and avoid the volatility altogether. 2020 has been a classic example of this (and we haven’t even mentioned the impact of the US Election!).
IronMarket’s unique position as not only your Adviser but your Investment Manager, allows you to leave the day-to-day decision making to us, and allows us to respond quickly to market changes or capitalise on opportunities we believe are in our client’s best interests. We believe firmly that it’s important to have a plan of how long you plan to stay invested, with that plan matching the goals of what you’re trying to achieve, be it money for retirement or your children’s university education. Then it’s just a matter of sticking to it – not letting unchecked emotions derail your plans.
Furthermore, with the additional service from our Discretionary Investment Management team, you have a dedicated team and service managing your money actively making decisions based on detailed analysis, forecasts and data, allowing you the peace of mind to stay invested whilst we manage the rest.
When reflecting on 2020 and IronMarkets Discretionary Portfolio Service’s performance against the sector average we continue to maintain minimal downside risks in market downfalls and simultaneously gaining in market upturn during a period of economic instability and uncertainty. During the third week of August where markets faced escalating tensions between the US and China, sector peers were down 1%, however IronMarket restricted this fall to 0.1%, showcasing our active managed approach continues to minimise volatility. The events of 2020 may well have been unsettling for you, but we hope that this reassures you.
Here at IronMarket this year has been successful for many reasons. We have navigated a very challenging time in our history. We have retained all of our jobs. At no point have we lost a client or had a client wanting to disinvest out of fear or panic. We have taken on new clients and invested more money for existing and new clients. We have new, systems, processes and propositions now in place that add overall value to you, the service provided and quality of advice we deliver. Our team feels stronger than ever.
Of course, it’s been a bumpy ride at times, but as we leave 2020 and head into 2021, we have every reason to be optimistic. Vaccines for Covid-19 are being rolled out, which gives us a glimmer of hope that some resemblance of normality is on the horizon.
So, with this in mind we just wanted to say a huge thank you for your support and the trust you continue to place in us. We wish you all the very best as we head into the festive season and hope that you enjoy the Christmas period and the New Year.
Look after yourselves, stay safe and we look forward to continuing to work with you in 2021.
Closing at 4pm on 24th December 2020
Opening at 9am on 04th January 2021
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