May 2022 – Bates Financial Services

Can you help mental health charity Chapter?

16th May 2022/0 Comments/in News /by EdwardLamb

Last week was Mental Health Awareness Week and one of our clients, Lee Mooney, has recently taken on a Trustee role at a local mental health charity.

One in four people will experience a mental health problem in the UK every year. We all deserve support when in need, but we know how difficult it can be for people to get it.

Chapter is a local charity dedicated to improving the lives of people experiencing mental ill-health in West Cheshire, Wirral, and the surrounding areas. We provide a pathway of support that gives hope, the opportunity to make connections, and vital new skills.

We support individuals with a range of mental health needs, from a diagnosis of serious mental illness (e.g., schizophrenia or bipolar disorder) to people experiencing mild or moderate mental ill-health. Our work includes services for individuals and community spaces such as our facility at The Haven (featured on BBC Radio Merseyside this week).

Chapter also offers professional mental health training for local groups and businesses including accredited Mental Health First Aid. It is often difficult to identify mental ill-health in the workplace and challenging for managers to provide the support needed. Chapter can design courses to suit your business need and help to ensure the right response is available to you to support your staff and protect your business.

If you would like to find out more about how Chapter can help your business please contact:

Lee Mooney, Trustee – lee.mooney@chaptermenmtalhealth.org

Jolene Weaver, CEO – Jolene.weaver@chaptermenmtalhealth.org

Supporters can also fundraise for Chapter through our JustGiving page. You can find out more about the work we do at chaptermentalhealth.org

Crypto: Has the bubble burst?

16th May 2022/0 Comments/in News /by EdwardLamb

It has been an interesting few days for followers of the cryptocurrency market with panic selling as the market took a battering.

At one point, the Bitcoin digital currency had fallen below $26,000 from a peak of more than $69,000. Meanwhile, the Terra [LUNA] cryptocurrency fell by more than 99%, wiping out the fortunes of many crypto investors.

Terra, which was ranked among the ten most valuable cryptocurrencies, dropped below $1 at one stage last week, having peaked close to $120 in the previous month.

Although we are not permitted to recommend cryptocurrencies to our clients, it is something we are often asked about.

We prefer to focus on the real economy where stocks may be overvalued but are never worthless – unlike the world of cryptocurrency.

Diversification key to riding out economic storms

15th May 2022/0 Comments/in News /by EdwardLamb

You could be forgiven for thinking that the issue of rising inflation and interest rates had come out of nowhere given the frenzied doom and gloom among some sections of the media.

But, as regular readers of this newsletter will know, the onset of tougher financial conditions was something that had long been anticipated.

The likelihood is that the Bank of England base rate will continue to rise by 0.25% month on month for much of the rest of the year and that inflation could top 10% as many economists expect.

But while the pressures facing many households will doubtless intensify during the remainder of 2022, it is likely inflation will return to more acceptable levels during 2023.

This is not a cyclical problem, but rather one that is driven by year on year increases in prices with those price increases being significantly more acute this year.

Nevertheless, for the time being, the UK and wider world economy continues to face uncertain times and a volatile period for stocks with many experiencing sharp falls in values.

Fixed rate investments and cash held in the bank are particularly badly hit during periods of high inflation, whereas property, infrastructure and commodities typically fare much better.

In times of such volatility, the importance of having a long-term, well-balanced and, crucially, diversified portfolio is brought sharply into focus.

On this note, our team is currently in the final stages of reviewing client portfolios with limited changes anticipated.