Business Continuity Plan - Client Update re Covid-19

18th March 2020

We are living in unprecedented times and would like to bring you up to date with what we are thinking and doing. The global situation around Covid-19 is fast moving but please be reassured that we have robust business continuity plans already in place so will be working as normal. Ultimately we want to ensure we can continue providing our usual level of service for clients and looking carefully after the well-being of our staff and clients alike. As for our team, everyone is fit and well and as busy as ever.

We are closely monitoring the situation daily and our Senior Management Team are providing a co-ordinated, proportionate response across the team. We are also following advice from the World Health Organisation and national governments supporting the containment of the disease and delaying its transmission. We will continue to evolve our plans as the situation develops.

As things stand, this means that in line with our business continuity plans, our entire team of seventeen staff are now working remotely from home with access to all our normal systems. Thus, the Wealth Management Team’s operations, which are primarily conducted from our Dundee office, remain unaffected.  We are also liaising with our key third-party partners and are satisfied that they have appropriate robust plans in place so we remain fully operational.

The obvious difference to normal circumstances, unsurprisingly, relates to client meetings.  As a result of Government guidelines, we have elected to suspend face-to-face client meetings and travel to other offices within the Blackadders office network. We will continue to align these plans in line with guidance from the relevant authorities. Staying connected to others is important so please stay in touch by telephone or email as usual. We will be communicating with clients by email where at all possible. We will be here to help you in any way we can over the coming weeks and months.

Our investment philosophy is very long-term, with a horizon of five years and beyond.  Moreover, as a firm we have been investing on behalf of our clients on a global basis for some 30 plus years, so it has been tested in all sorts of turbulent times.  Even in the last 20 years we have experienced several global crises, each different from the last, but with the same recurring lesson. That our long-term investment horizon, our experienced and calm heads, will see our clients’ portfolios emerge from the current crisis at least as robustly as they entered it.

All Bear markets have a different cause but they also pave the way for the next Bull market. While nothing is certain, given the speed of the decline, it may be that the recovery when it comes will be equally dramatic. So while we are definitely not complacent, we are working pretty much as normal. We will all work together to get through this.

 

Blackadders Wealth Management LLP is authorised and regulated by the Financial Conduct Authority to provide independent financial advice under the FCA Reference No 738512. The value of an investment and the income from it could go down as well as up. The return at the end of the investment period is not guaranteed and you may get back less than you originally invested. Past performance is not a guide to future returns. Tax Planning and cash deposit accounts advice are not a regulated activity and therefore is not covered by the Financial Services Compensation Scheme (FSCS).