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Your Argyle Financial Bulletin for May 2017

Dear Client,

Getting back to normal?

Ever since the Credit Crisis of 2008, which brought about near zero interest rates and inflation, most financial commentators have been speculating on when these basic 'ingredients' of our everyday financial lives would return to what is (or at least was) deemed to be 'normal'.

Some nine years on (with more millions spent on Quantitative Easing than could probably be counted) these basics have barely changed at all… apart from say a nominal increase in US interest rates.

Although most economies are showing modest signs of growth, it seems prudent that we should begin to regard low levels of inflation and interest as the new norm and therefore, a realistic assumption on which to base our ongoing financial arrangements.

Portfolio Growth

A whole year has now passed since we positioned your portfolios to cope with fallout from Brexit and the election of President Trump and… despite the many negative predictions... we are pleased to report they have enjoyed a period of almost unprecedented growth. 

However, it is still wise to remember that the value of investments are very dependent on the reaction of stock markets to World events and whilst we construct portfolios to reduce volatility, the ever changing political and economic landscape is a challenging one. 

Of course, we are now moving towards our own General Election, apparently anticipating a safe victory for the Conservatives, but we still need to keep in mind that not all recent elections have gone to plan and other upsets may yet be in the pipeline! 

Ultimately though and following many hours of analysis, we remain content with our current investment philosophy and are not presently recommending any significant fund changes in your portfolio.

Online criminality


The NHS hacking by Ransomeware has dominated the news, providing an unwelcome reminder of our own experience last Autumn.

These criminals are clearly very clever and an organisation as widespread and diverse as the NHS must present a tempting target.

Making our lives more secure from this criminal activity must become a priority, as our lives become more dependent on technology.

We also caution you to be careful about nuisance calls, appearing to offer instant solutions to the problem!

Charity walk

Finally, many of you have enquired about Jean’s recovery from her recent knee operation, so you will hopefully be pleased to learn that, with great dedication to her exercise regime, she has made very good progress.

So much progress in fact that she has set herself a goal of completing the Thames Bridges Trek in September... a 25 km walk taking-in 16 of the bridges which cross the Thames in London.

Charity Walk

To give extra meaning to this challenge Jean will be raising money for two charities which are MIND and Riding for the Disabled. We will of course let you know when her online “Just Giving" page has been established, within the next few weeks.

Please remember...

We encourage you to pick-up the phone (or Skype us) if you would like to discuss any matters further.


Phil Melville & Jean MacIntyre

Financial Planning

Don't delay... it's never too soon to act.
Whether it's planning your children's or grandchildren's Further Education, arranging mortgages or life cover or assessing your pension provision - please chat with us to discuss what options may be best for you.

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We offer a highly personal service… which means you can contact us at any time to discuss any financial matter that may be of concern to you.

Please use 01442 842538 to contact us with any queries regarding this correspondence, or if you have any other matter which you would like to discuss, you can also email us at

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Argyle Financial Management Ltd T/A Argyle Financial Group - Registration No. 4016523 Head Office: Farthings, Little Gaddesden, Berkhamsted, Herts, HP4 1PE © 2017 Argyle Financial Group. All rights reserved.

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