Lowes Magazine Issue 121

INSIDE TRACK

A RECENT FREEDOM OF INFORMATION REQUEST BY CANADA LIFE HAS revealed that the number of Lasting Power of Attorney (LPA) registrations fell by more than a quarter in the past year. While this comes off the back of a leap of 84% in new registrations in previous five years, with the process becoming digital and easier to do and an awareness campaign, it is of concern as more people need to have them in place. Why Lasting Power of Attorney matters

LPAs can be registered for someone to make decisions on your behalf around property and financial needs if you are unable to do so yourself. They can also be registered for health and welfare needs, when you might need someone to make decisions on your behalf around medical issues, daily routines or even decisions on moving into care. We would urge everyone to consider putting one or more LPAs in place as they can apply both to later life situations and where accidents occur. At very little cost they can provide peace of mind that, if needed, your affairs and welfare will be looked after by the person(s) you nominate to do so. Lowes can assist by introducing you to an LPA specialist – please call us on 0191 281 8811.

COMMENT

Learning from experience IN HIS OPENING SPEECH AT COP 26, THE RECENT

individual to look ahead and prepare financially, and not everyone is able to benefit from Independent Financial Advice. The danger for investors with this terminology, however, is that investing is seen as a ‘game’, where chasing of short- term gains is hyped-up and promoted over long-term wealth building. Get-rich-quick-schemes rarely benefit anyone but the people promoting them. A big part of our role as Independent Financial Advisers is to help our clients to view their bigger picture when it comes to their finances, over a focus on the short-term. It’s a professional approach that comes from many years of experience and utilising the skills of the experts in their individual fields – fund managers, analysts and financial services technicians amongst others. 2022 is predicted to be a year of market and economic volatility as we move out of the pandemic, central banks start to unwind the support they have been providing over the past decade and more, and we see inflation, interest rates and market sentiment affect our investments, savings and spending power. Keeping a calm head will be essential. History has shown us that stock markets will fluctuate but over the long term, they tend to gain. While past performance does not guarantee what will happen in the year(s) ahead, as the world moves to a post-pandemic footing, our experience tells us that portfolios which are suitably diversified and actively managed are going to be best set for the future.

international climate change Summit held in Glasgow, Sir David Attenborough said: “Is this how our story is due to end? A tale of the smartest species doomed by that all too human characteristic of failing to see the bigger picture in pursuit of short-term goals.” This, I thought, neatly summed up what the Summit was about, highlighting the macro problem and the potential solution in one short sentence. There is nothing more edifying than to hear from someone who has been in the thick of it for so many years – a professional and an expert in his field telling it how it is. To me, it makes sense that we listen to his views (and those of other experts in their fields) and act upon them. On a different level, Sir David’s words struck me as pertinent to financial planning and the work Lowes does on a day-to-day basis. Our financial futures can be largely determined by whether we take a short-term or a long-term view of our finances. We have a need for education, to listen to the experts and to be helped into taking action that is going to benefit us (and our inheritors) in the future. Lowes has been in the thick of the investment market for over 50 years now. We have seen numerous market crashes, as well as market recoveries – bubbles, financial crises and bull markets among them – and we use that experience to position our clients’ portfolios to optimise them for long-term wealth gain and maintenance. Taking a short-term view has caught out many an investor over the years. There is talk at the moment around the ‘gamification’ of investment. By this, people mean making investment easier to understand and to participate in. In the broadest of terms, this can be viewed positively; there is no doubt that many more people need to be investing for their futures – responsibility is now firmly with the

If you know of anyone who might benefit from the services we offer, please give them our number 0191 281 8811 and we will arrange an initial consultation to see how we may help them. Ian H Lowes, Managing Director

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