Much of this week has been dominated by the tragic happenings in the US and the subsequent global protests, which we will focus on in this week’s report.

Thursday saw Angela Merkel the German chancellor announce a fiscal stimulus worth €130 bn. The stimulus is due to be made up in several parts and will include a three percent cut in value added tax and €300 per child given to every family1. More woe in manufacturing has been seen in both the US and the Eurozone. Survey data suggested a pick-up in May; however it fell well short of pre-crisis levels2.

By contrast, positive market news can be found when looking at the online grocery market. It will come as no surprise that with us all in lockdown, online grocer sales have jumped up, both here and in America. Recent research has shown that UK grocery sales increased by a record 14% last quarter3.

Black Lives Matter

The murder of George Floyd at the hands of a police officer in Minneapolis has initiated a string of protests across the US and in cities around the world. This act of police brutality has ignited fury and has been used as a rallying cry for those who wish to see justice and greater action to address racism4. People have joined the chorus of Black Lives Matter in order to draw attention to the violence inflicted against people of colour by the police. As the cause has gathered momentum, it has drawn focus to other ways that racism exerts its influence.

This civil unrest comes at a time when coronavirus is being shown to have a disproportionate effect on Black, Asian and Minority Ethnic (BAME) people. An official report into the disparities showed that BAME groups face an increased risk of death of up to 50% when compared to white Britons5. When questioned about this at the daily briefing on the 2nd of June, Matt Hancock was unwilling to give a concrete response about whether an inquiry would be held into the causes of the higher mortality rates amongst the BAME population and ways to address it6. In addition, a recent Guardian report revealed that BAME people in England were 54% more likely to be fined under the new coronavirus rules than white people: BAME people account for 15.5% of the population of England, yet received 22% of the coronavirus lockdown fines7.

It is time for us to reflect on the ways that prejudice still shapes our society and how we can contribute to the solution. It seems that many of us have taken it upon ourselves to learn more about racism in modern societies, as popular books on the subject are sold out on Amazon and other online book shops. Perhaps this is a sign, that we are acknowledging the pervasive inequalities that still plague not just the US, but the UK too, and are trying to address them.

We have received lots of positive feedback about our weekly updates. If you’ve found them useful and informative, we would be delighted for you to share them with friends, family and work colleagues. We are always keen to spread the word about our unique approach to financial planning and investing.


1 https://www.bbc.co.uk/news/business-52920516

2 https://www.sharecast.com/news/international-economic/eurozone-business-activity-improves-in-may-but-remains-depressed–7529371.html

3 https://www.retailgazette.co.uk/blog/2020/05/uk-grocery-enjoys-biggest-sales-jump-in-26-years/

4 https://www.bbc.co.uk/news/world-us-canada-52921418

5 https://www.gov.uk/government/publications/covid-19-review-of-disparities-in-risks-and-outcomes?utm_source=2e046dd4-5550-4042-b5a7-372873716a2a&utm_medium=email&utm_campaign=govuk-notifications&utm_content=immediate

6 https://www.theguardian.com/world/2020/jun/02/calls-mount-for-public-inquiry-into-uk-bame-covid-19-death-rate

7 https://www.theguardian.com/world/2020/may/26/bame-people-fined-more-than-white-population-under-coronavirus-laws


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.

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.

Howard

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: