They say in every crisis there will be heroes, and this week, we take a moment to celebrate those.

If there is anything that Captain Tom Moore has taught us, it is that it is more than possible to defy all the odds. As it stands currently, the Second World War veteran who set out to walk 100 laps of his garden before his 100th birthday has not only finished ahead of time but has raised over £18 million for the NHS and has said he will continue all the while the donations keep coming in. This is a feat of truly herculean proportion and Holden & Partners would like to congratulate and thank him for his heroic effort, as well as all the amazing keyworkers who are also true heroes.

It has been a week of mixed news, after we all made the best of a long Easter weekend in lockdown, amidst continued pleas for the British public to remain at home.

On the bright side, we saw Boris Johnson leave hospital following a three-night stay in intensive care. Although he is still recuperating at Chequers and has not resumed his full-time duties, his road to recovery has at least provided some good news1.

We also saw lockdown restrictions eased across Spain, one of the worst-hit countries in Europe, following a slow down in the number of fatalities caused by the illness. These first tentative steps and the resulting trajectory of COVID-19 will be watched by neighbouring nations to see if there is any resurgence in the death rate following these minor policy changes2.

The UK, however, shows no signs of changing the severity of the lockdown restrictions that are currently in force. Lasts night’s government briefing provided the news that everybody was expecting, with Dominic Raab announcing that we would be spending at least another three weeks in lockdown to continue slowing the spread of the virus3. We suspect, although we do not know for sure, that this will not be the last extension and when the time comes to be ‘freed’ into the world it will be slow, measured and potentially follow a form of segregated approach whereby some groups of people or certain parts of the country will be let out first. How this is organised and policed is currently anyone’s guess. The concern amongst governments and scientists globally is that a second wave is a very real potential and not to be taken lightly4, whilst others report that we may need some form of social distancing up until 20225.

The news from the USA was somewhat different, where Trump unveiled a strategy entitled “Guidelines for Opening Up America Again”. Rather than the nation-wide lockdowns seen across Europe, this roadmap allows different states to implement different restrictions depending on certain criteria6. The results of this rather more flexible approach remain to be seen.

We have also seen the official death toll in Wuhan, the Chinese province where the pandemic began, revised upwards by 50%. This alarming alteration to the figures coming out of China have seen renewed criticism of the state’s handling of the outbreak. However, China have denied that this revision is in anyway a cover up7.

Returning to economics and the picture is becoming clearer and clearer across the globe. With vast swathes of the world on lockdown, economic activity has, as expect dropped off a cliff. Consumer confidence (a measure of consumers’ feelings about current and future economic conditions) has fallen to 2008 levels since the lockdown in the UK8, whilst Australia has seen consumer sentiment dropping the most in 47 years9. Chinese Gross Domestic Product (GDP) was worse than expected, with the economy shrinking for the first time in 40 years10, with the first quarter (Q1) GDP figures plummeting 6.8%.

You would think with all this bad news that global stock markets would be reacting in the very opposite way of how they are now. It is no secret that we are living in crazy, bizarre times and expected norms are being turned on their head. We believe the markets, in essence, have written off the second quarter of the year. However we suspect and hope that the recovery will likely be quick and the markets are now looking forward to what happens in Q3.

Q2 provides many businesses with the opportunity to wrap up as much bad news into one with many ‘kitchen sinking’11 as much as they possibly can. This will create many sensationalist headlines, however it is to be expected and we will continue to monitor how businesses, markets and data perform over the coming days and weeks, maintaining our advice to stay calm and avoid dramatic decisions.

This is likely to be one of the worst economic shocks in living history. However, as humans through history have, and will continue, to prove, like Captain Tom, we are an adept species at defying the odds.












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My wife and I really value the advice and support we’ve received over many years. Our key contact is Tim Cosway, whose friendly and calm manner is a real plus. He also involves team members who are equally committed. We particularly value that their approach is that no question is stupid – we always receive a clear and helpful explanation. We have full confidence in the team’s management of our finances and definitely recommend them.


We have consulted Holden and Partners for 10 years.  Having been in financial disarray because of poor advice from our previous financial advisor, we have Tim Cosway to thank for digging us out of a deep financial hole.  As a result of his painstaking tenacity pursuing a claim against our former financial advisor through the Financial Ombudsman Service, which resulted in substantial compensation, we can anticipate a comfortable retirement.  We continue to take Tim’s advice on all financial matters.  He is a pleasure to deal with, and we whole heartedly recommend Holden and Partners, and Tim in particular.

Mike & Jacque

I have been a customer of Holden & Partners since its inception. During this time, no matter what the state of the financial climate, I have always found that their advice has been balanced and fair. They have a good understanding of everyone’s individual circumstances and produced tailored strategies to match these needs and expectations.

Duncan B, NHS consultant

I’ve always received high quality, personable advice at a time of my convenience. My adviser has often travelled to my home in order to provide very personal service. The advice given is clear and unambiguous. The risks of different types of investment have been clearly discussed to allow me to make an appropriate decision on the nature of my investment portfolio. This has been of great importance when considering the available investment options for my forthcoming retirement. I have always considered that Holden & Partners is very client centred and they have my best interests at heart. I have been with Holden & Partners since 1996 and have recommended them to friends and colleagues on many occasions.

Michael, Surgeon

Holden & Partners manage our company pension scheme with a totally professional and dedicated approach. They have worked with us over a number of years, and are able to explain the potential ‘minefield’ that is pensions, to make it perfectly accessible for the staff.

Jeremy, Print Management Partner

On retirement after 40 years of salaried employment, I interviewed several financial advisers, amongst whom Mark Dodd of Holden & Partners was the nicest and seemingly the most understanding of my investment needs and priorities. Since then my wife and I have had regular (c.6-monthly) meetings with him in order to check and, when necessary, adjust the holdings in our portfolio. This has been very helpful and provided a comforting sense of confidence and security. I have recommended Holden & Partners to others and will certainly continue to do so.

Patrick, retired university professor

It’s easy to feel powerless in the face of global trends such as climate change and environmental destruction. But I feel I regain power as a consumer and a citizen by thinking about where I spend my money and to whom I entrust my savings. I chose Holden and Partners because they were recommended to me and because of their strong track record in ethical investments. It has proven to be a wise choice. Their advisors listened carefully to my needs and created an investment strategy and portfolio that has met and indeed continues to exceed my expectations. The culture of a company also matters to me, I have found their advisors to be well informed and financially shrewd but also easy to speak to and engage with. Many of us find it difficult to trust institutions and organisations these days, but I do trust Holden and Partners to make the right decisions on my behalf.
I would have no hesitation in recommending them to others.

Patrick, Advertising and Marketing Consultant

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