If you have seen the news lately, you wouldn’t be able to miss the ongoing tensions in North Korea.

How will this, coupled with a still uncertain Brexit, affect financial markets?

“It is difficult to say,” said Alan Mellor, Managing Director at Phillip Bates & Co Financial Services.

“Financial markets have been pretty steady and solid. It’s ongoing noise that affects confidence, so the best thing to do is to accept that there will always be short-term issues, but understand that these may or may not have an impact on the world’s economy.

“We will be keeping a close watch on events in North Korea and continue to monitor our client’s accounts and the impact that this could have on their investments.

On August 7th, Conservative MP Kit Malthouse said that Brexit will provide an opportunity for the UK to develop an “independent voice” on foreign policy and claimed that engagement with North Korea and Russia was “absolutely key.”

Speaking to BBC Radio 4’s Westminster Hour, he added: “Brexit is a big opportunity for us to be a more independent voice and obviously as part of the EU we were finding more and more and more that our foreign policy approach was compromised by their need for a collective action.”

On August 29th, Theresa May insisted that China must do more to help bring North Korea’s “illegal and provocative” weapons testing to an end.

We have been accredited by Resolution to provide financial advice to couples in family disputes.

Resolution is an organisation of 6,500 family lawyers and other professionals in England and Wales, who believe in a constructive, non-confrontational approach to family law matters. Resolution also campaigns for improvements to the family justice system.

Phillip Bates & Co Financial Services is the only financial adviser in Wirral and one of a handful in Cheshire to be accredited by Resolution.

Alan Mellor, Managing Director of Phillip Bates & Co Financial Services, said: “Our accreditation is recognition of our commitment to delivering high quality financial planning services to our clients.

“There is no question that our status as Chartered Financial Planners, something we are extremely proud of, would have helped us to be selected.

“Mediation is now obligatory when couples decide to separate and it is vital that they have peace of mind at a very difficult time that they can access the very best legal and financial advice.”

For more information, please call Alan Mellor on 0151 353 1066.

June 8th was a landmark day for the UK as a shock election result left many contemplating its impact on the UK’s economy.

In reality, a hung Parliament could potentially be a good thing for investors.

Alan Mellor, Managing Partner of Phillip Bates & Co Chartered Financial Services, said: “Unless something changes, we are in a good position.

“A weak government can’t do very much – politicians won’t want to mess with things, which is good news for investments.”

However, Alan acknowledged that the increased likelihood of a second election within the next 12 months could change this outlook.

“The worry, of course, is if this current level of uncertainty gets worse – there could very well be another election soon and this could have a negative impact on long-term investments.

“It is difficult for businesses to make long-term investment decisions at a time like this.”

Alan does, meanwhile, think we could now be edging more towards a softer Brexit.

“As a result of the election, Theresa May now has no clear mandate, which is a better prospect for the economy“ he said.

“The Government are not going to be able to force through anything radical at the moment. Indeed, the pound fell on the night of the election but this was by very little as not a lot has changed, and I don’t think anything will change anytime soon.”

Building long-term relationships is essential in being able to provide the best possible financial advice.

We had a really good example of this recently when a couple, in their 60s, who we have advised for over 10 years, made an appointment to see us.

The meeting was a little bit different because they asked if they could also bring along their children, who are in their early 20s.

For much of the meeting, we simply provided a relaxed, professional environment for mum and dad to discuss their financial plans with their children. They chatted through their own financial priorities but also how they wanted to be able to assist their children in their own lives, such as helping them to take the first step on the property ladder.

We had been helping the parents with their financial planning for over a decade. In addition to providing financial advice, we had invested time understanding their requirements and motivations and building a trusted relationship.

When the time came to sit down with their children, they had no hesitation in asking if we would be happy to facilitate. The family, themselves, had shown great maturity in agreeing to have such a conversation, something that demonstrated their recognition of the importance of long-term financial planning.