So how important is performance?

We have previously talked about the importance of having a sound financial plan in place – which will be unique to you and your life’s journey. What will also be exclusive to you are the underlying investments that help you achieve your plan. Without a plan you cannot determine what these investments will look like or how you need them to perform. These investments and their inherent performance will vary for each of our clients, what is right for some clients won’t be for others, that is why we say don’t look at performance in isolation.

You will always hear a lot of background noise in the press and the media regarding performance but like a lot of news this is a distraction from the important facts and can lead people in the wrong direction.

Chasing performance is a trap that many people fall into without knowing what they really need to achieve. It is important to take time at the outset to really understand your goals and how and if you can achieve them.

Focusing on performance doesn’t tell you if you’re on target to achieve your financial goals. It’s one of many indicators to help direct you, but without a good financial plan, you have no idea if you’re heading in the right direction. You might be happy with your portfolio’s current performance, but that doesn’t mean you are prepared to ride the wave when the markets fall.

You may often hear fund managers being hailed as heroes based on the performance they have achieved. While this maybe outstanding, it is with good reason that we always state past performance is not a guarantee of future performance. It may be an indicator but not one you can rely on.

Many people compare the performance of their investments with benchmarks such as the FTSE 100, however investments aligned with the FTSE 100 may not be appropriate for you. It may not have the right combination of shares, gilts and bonds that will help you to achieve your goals or that you are comfortable with. So, save yourself the worry and focus on what’s important for you and what you can control.

Another discipline a financial plan provides is taking a long term view and not making impulsive decisions based on what is going on around us. Several studies have shown that investors as a group tend to underperform because they chase performance. This can mean they will buy investments that have recently performed well and are therefore at a high price and sell those that have not performed well when their value maybe at rock bottom. Making knee jerk decisions can often contradict your long term goals, it is much more beneficial to stay with your lifetime plan.

Of course, we will always consider performance however the main focus must be on what is important to you. This will mean that you are more likely to reach your personal goals with less to worry along the way …………….and as a result enjoy life!

Rising Star

As a Group Brunel and Pilgrim are delighted to announce their continued sponsorship of Josh Bayliss a rising star at Bath Rugby. Josh was awarded Academy Player of the Year for 2017-2018 season, before signing his first senior contract and moving to the 1st team in June 2018. We wish both Josh and Bath a successful season as he continues to add to his first team appearances.

Tea Pots for WDAA

Arnold Wills was delighted to present West Mendip Hospital with 50 tea pots on behalf of the Wells Dementia Action Alliance (WDAA). The tea pots will be used to help those living with dementia to retain their independence as they prepare to return home at the end of their hospital stay.

Pilgrim Financial Planning became founding members of the WDAA after Arnold and Julie found shops in Wells showed Arnold’s mother such kindness and assistance as she struggled living alone and trying to cope with her dementia.
The year before Sybil went into residential care was a huge struggle. Julie and Arnold found it very difficult to find out what support networks existed and where practical help and advice could be found. They set out to ensure others would find help more easily and that there would be a greater understanding of dementia across the community in Wells.
The Pilgrim team attended an awareness session and became “Dementia Friends” and to date 1,250 people across businesses and organisations in Wells and the surrounding area have become Dementia Friends.

The WDAA comprises of representatives from local businesses, civic organisations, health and social care providers, schools, faith groups and rescue services and Wells has now become a Dementia Friendly City. The Alliance aims to raise awareness and remove barriers for those living with dementia and those that care for them so they are supported by the community as whole.

For more information on how to become a Dementia Friend visit www.dementiafriends.org.uk

Hiking for Children’s Hospice South West

On July 7th, with temperatures well into the 20C’s staff from the Bristol office headed off to the Lake District National Park for their two day challenge to raise money for Children’s Hospice South West.

Saturday saw a 3½ hour climb up the rocky and steep slopes of Scafell Pike to the summit and 2 hours to come down again………knowing a cool drink was waiting at a local hostelry was a great motivator. While we were all exhausted and well baked by the sun it was a great feeling to have completed the toughest climb (978metres) of the two days.

Sunday morning, we started our ascent of Old Man of Coniston, and were thrilled to stumble across a fresh water lake two thirds of the way up, we just couldn’t resist a dip. We made it up and back down the ‘Old Man’ in 5 hours.
We were all really pleased to have completed the challenge for Children’s Hospice South West who do a fantastic job supporting children with life limiting conditions and their families and are looking forward to our next trek. We raised a total of £1,300 , smashing our target by £300, a big thank thank you to all those who contributed.

Brunel Capital Partners is a sister company of Pilgrim Financial Planning