financial advice
Today I had a financial review and in the most part, everything is going all OK which is all you can ask for with the mess going on around the world.
Recovered from the bad ending to 2022, due to the scare from the mini budget from the shortest rein prime minster.
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This was feedback I had from the market analyst.
“2022 was a dreadful year for the fixed interest market as it suffered record breaking losses caused by the sky rocketing interest rates. We were meaningfully underweight but with hindsight should have been even more aggressive in this position. Now with interest rates appearing to be nearing what is expected to be their peaks we have moved towards a more benchmark neutral position. This repositioning of our asset allocation is behind the purchase of the additional units of Robeco.
Robeco has been our best performing fixed interest collectives’ year to date, performing relatively well because it has been positioned to be less sensitive to increasing interest rates (duration).”
I’ll be honest, I’m still not sure about Robeco, happy to be proven wrong.
This morning I had a review with my financial advisor and market expert.
Considering the last year, my portfolio hasn’t done too bad or too great either, but at least nothing crazy considering everything that is going on in the world.
Hopefully the financial world is now settle after the banking issues earlier this year and the interest rates will start to have an impact in a positive way and we will see the markets grow.
It still makes me wonder about some of the people I used to work with, who are renting and had no pension setup, how they will cope in later life or even now with every going up?
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My financial advisor, after I mentioned that for the 1st time since last August that the funds were in plus are hopeful that this year will be much better, as long as inflation continues to slow and interest rate rises.
Plus hopefully nothing goes untoward in the Ukraine war or the relationship between America and China.
Keep your fingers cross please.
I received an email with a brochure from my financial advisor and it was mentioning about the end of tax year (Early April). So I thought I better check in.
Feedback from him.
“Otherwise, I’m glad that a very difficult year for investment returns is over and things have bounced back somewhat recently. Let’s hope that continues. Things look pretty gloomy for the UK (and Europe) right now, but starting to look more positive elsewhere (US and Far East in particular). Your portfolio is well diversified globally by Brewin so I’m feeling good about 2023 right now.”
I hope this is true, as last year was a rough ride.
Over the weekend I received my car insurance renewal and nearly had a heart attack!
They were asking £747.93, up from £389.47.
How could they justified such an increase, when I hadn’t had any claims during the last year?
I rang them, took about 20 minutes to get through and it does annoy me, when the first questions they ask, are the same as the automatic questions you have to answer to get through to speak to someone, WHY?
They could only reduce it by about £30 and that was for the mileage being reduced, there was nothing else they could do. Obviously didn’t want to keep their customers.
With a help of a friend, I had already done some research, and there were many insurances able to do it for around £400 to £450.
I finally took a new insurance for £431.
I posted on Trustpilot about their customer service and the response was along the lines of, that’s how it works.
