Ahead of the long weekend, here is our weekly analysis of the current crisis, with a look to the future.

Time seems a bizarre concept presently and, despite lockdown, it is far from standing still. The third week of isolation was no less astonishing than the previous and, yet again, what would usually be dumbfounding news whistles past us.

This week saw Boris Johnson admitted to hospital and then intensive care, as his case of coronavirus seemed to worsen. This resulted in him ‘handing power’ to Dominic Raab after several days of the nation wondering who exactly was in charge; a very British quirk of our unwritten constitution.

The death toll continued to hurtle up alarmingly and despite the rate seeming to slow in other badly affected European countries, studies are suggesting that the UK could be worst hit in Europe 1. Although it is still too early to tell, this is both worrying and upsetting and will no doubt lead to many unpleasant yet illuminating questions being asked once this is all over. Monday marks the three week anniversary of the lockdown and although we do not know for certain, we expect that it will be announced that restrictions will continue, certainly while the death toll is still rising 2.

Hard though it is at times, it is still important to consider the future. Many people are asking what the government’s plan is to get us out of this. They are stuck between a rock and a hard place; let people out too early and risk potentially huge increases in the infection numbers with the NHS unable to cope, but let people out too late and the economy will face even more severe consequences, not to mention the potential for civil unrest and the breaking of the social contract that is currently keeping us inside. As spring has truly sprung and the sun is beaming, it isn’t difficult to envisage the contract coming under strain.

The wild journey continues into markets and economics. Companies across the spectrum are cutting dividends, whilst Tesco takes government aid and then still pays huge dividends 3. The issues here are two-fold. With some companies cutting dividends, it is possible that those who invest for income may be impacted. We are monitoring this recent development as it unfolds, so that we can provide further information and guidance when necessary. Secondly, from a corporate and social responsibility point of view, it can be asked whether a large private company should be taking public money to hand to private investors. Issues like this are close to our heart at Holden & Partners and we continue to assess this type of corporate behaviour as part of our promise for a more sustainable future.

Despite the tragedy, some good will come from this crisis and we hope that it will force a rethink of how people such as NHS workers, shelf stackers, delivery drivers and public transport workers are viewed within society. These individuals were often taken for granted, but now are on the ‘frontline’, keeping our society going. This will also raise questions about the long term viability of industries such as aviation, oil and travel companies. It remains to be seen whether people will return to their same ways.

We are still some time away from the full picture, but wherever you look, there is evidence of an imminent economic slowdown. In Europe, new car registration numbers4 (an indicator of economic performance) have almost halved and this is likely get worse. Unemployment is already growing around the world, with dire predictions5. As more and more data comes out, we will continue to analyse and ensure we are doing all we can to weather the storm.

Be sure to stay safe and remember that it is times like these that require a calm and consistent approach to investment. If you need us, please get in touch.

Content of the articles featured in this publication is for your general information and use only and is not intended to address your particular requirements. They should not be relied upon in their entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. Thresholds, percentage rates and tax legislation may change in subsequent finance acts.

1 https://www.independent.co.uk/news/health/uk-coronavirus-death-toll-highest-europe-italy-spain-france-a9454331.html

2 https://www.theguardian.com/world/2020/apr/08/uk-covid-19-lockdown-to-be-extended-beyond-next-week

3 https://www.theguardian.com/business/2020/apr/08/tesco-sales-up-30-per-cent-because-of-pre-lockdown-stockpiling-coronavirus

4 https://uk.motor1.com/news/408104/smmt-registrations-march-2020-coronavirus/

5 https://www.theguardian.com/world/2020/apr/03/coronavirus-uk-business-activity-plunges-to-lowest-ebb-since-records-began

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

Read all our testimonials

Contact us

Whether it’s a question about your personal finances or how you can invest your wealth more ethically, we are here to help. Call us on 020 7812 1460, email info@holden-partners.co.uk or complete the form: