Your Argyle Financial Bulletin for August 2017

Dear Client,

Market volatility and your portfolio

Last month we advised that we were going to look again at your portfolio to further reduce potential volatility. However, recent events including yet further terrorist attacks and the ongoing rhetoric between Kim Jong-un and President Trump mean that, candidly, it is difficult for us to justify the changes we had in mind. Ironically, at the time of writing your portfolio is probably at its highest level yet, which begs the question “if it ain’t broke, don't fix it?" 

The Guardian of World Peace

The US seems committed to re-asserting itself as the ‘Guardian' of world peace, which is having certain geopolitical effects on the financial standing of several major powers.

For instance, demand for government bonds has been affected, as has the inter-relationship between dominant currencies. Sterling itself is once again at a low point… although this will hopefully provide another boost to the UK's economic recovery.

Terrorist activity can particularly effect stock markets in sectors such as leisure, transport and fuel, whilst ongoing speculation regarding the process of leaving the EU has (for the time being at least) taken on a life of its own, as though unconcerned with events in the wider world.

Our personal view remains that, despite the aforementioned events, the broad economic recovery which we are seeing across the globe will continue and pragmatism will eventually come to dominate the changing world order.

Politicians everywhere seem to be ever more obsessed with the 'celebrity' of power rather than its effective use... effectively leaving the business community to point the way forward.

The Importance of keeping a Will up-to-date

We periodically remind you to ensure you have a Will which accurately reflects your current thinking with regard to beneficiaries and Inheritance Tax.

In our personal life we have recently been pleased to help with the challenges presented by the cost of raising grandchildren, necessitating an adjustment in our own Wills. Do not hesitate to get in touch if you have any aspects of inheritance planning that you would like to discuss further.

Jean’s Charity Walk - Still time to donate.

Last but not least, just a quick reminder that Jean will very shortly be embarking on her 25k walk in aid of Riding for the Disabled (a tremendously good cause) and we would be extremely grateful for any support you might kindly choose to give... through her My Donate page.

Making a donation is really simple. Just click this link to Jean’s MyDonate charity page and follow the instructions: https://mydonate.bt.com/fundraisers/jeanmacintyre1