Fairstone CEO Lee Hartley’s message to clients in response to Covid19

In the current Covid19 crisis, our priority is the safety and wellbeing of our clients and colleagues.

Equally as important is ensuring that we continue to deliver first-class service, guidance and financial planning in order to protect the financial health of our clients.

We have all had to face significant change recently; to this end Fairstone has transitioned all of our operations and core functions to remote working and we have a robust framework in place to support the business. Our operational agility and IT capability is matched with a collective desire to ensure that client interests are fully protected.

Communications remain of vital importance to us and we will be staying connected to you, through phone, email and other channels such as Skype and video conferencing.

Things may still change, and we’re ready for that. We’re reviewing policies every 24 hours and will communicate if anything will affect you.

When it comes to your financial planning it is important not to panic.

While we have seen large swings in financial markets, the current situation should be seen in the context of long-term investing, and a temptation to react in a knee-jerk fashion should be avoided. We must stay objective and remember that the situation will eventually be brought under control.

We have seen a concerted effort from central banks and governments to provide additional monetary and fiscal stimulus to aid recovery. Such coordinated easing will give support to financial markets as they look to navigate the expected volatility of economic activity in the coming months.

When it comes to your investments, within our assured model portfolios we have already adjusted the strategies to reduce risk where possible while staying within our mandates. Outside of this, we will continue to focus on the prudent, long-term management of your portfolios, searching for pockets of relative value amongst asset classes and ensuring that holdings provide genuine diversification and are capable of generating positive risk adjusted returns.

Past epidemics including SARS and Bird Flu have not caused widespread market turmoil and we are confident that remaining focussed on your long-term objectives is the most effective way to navigate the present market volatility.

I don’t need to tell anyone that the market impact so far has been severe, but there will be a recovery. History has shown this to be the case time and time again. What we can’t predict is to what degree the economy will be impacted and for how long - but recover it will, there is no doubt about that.

We will continue to be agile as new information is presented on a daily basis, but I can assure you that Fairstone is in a good place to deliver excellent service and expert advice throughout 2020 and beyond.

We remain here, through the normal channels should you seek specific guidance and we will be in touch regularly to keep you updated on further changes. However, if you need further reassurance and would like to review your personal financial planning, please do not hesitate to get in touch.

With all best wishes to you and your loved ones at this challenging time.