Business Continuity Update 3
I have written to you a couple of times over the last few weeks to update you on our business continuity planning and how we were responding to the evolving virus. I wanted to write to you again now that we have completed our first week on a fully remote working basis.
I can confirm we are fully complying with government advice and instruction whilst also meeting our commitments to you, our clients.
- We have successfully transitioned to remote/home working.
- Phone lines are fully manned between the hours of 9.00 a.m. to 5.30 p.m.
- All our advisers are available to assist you by phone or email and able to deal with any queries or needs you may have.
- We have access to post in and out.
- We are still linked to our Platform providers and continue to process trades with minimal disruption.
- Time sensitive applications (e.g. ISA and pension applications) are being processed.
- Payments to clients and from clients are being completed.
The COVID-19 pandemic has fundamentally changed the way we interact and the ongoing restrictions on travel and physical meetings effectively mean we have to adapt our working practices and implement alternative methods of communication with you.
However, the development of technology over the last decade has allowed us to embrace this remote working protocol quickly and effectively. This has meant that the way we engage has adapted and that online communication whether voice, video or email has enabled us to keep you up to date with developments in our business and your portfolios.
Throughout April and in the event that these restrictions endure, face to face review meetings will be replaced in a format that suits you, i.e. telephone, Skype, facetime or Zoom.
These are difficult times for everyone and, whilst many of our strategies will help manage it, the significant volatility in investment markets is another dimension to the challenge. We know that it all feels very uncomfortable and uncertain at the moment. Ongoing volatility will unsettle some investors and the urge to react to short-term market events can often be tempting. Markets will fall but markets will recover. It’s time in the markets rather than timing the markets that will lead to the healthiest return over time.
Finally, with each day that passes we are increasingly aware criminals are using the current situation to exploit working practices. As a company we’re seeing an increase in phishing scams that try and encourage people to ‘login’ to remote services via email.
We are also aware of scams that relate to HMRC tax rebates, these are being sent out via text message.
These scams are all opportunistic, by clicking these links you run the risk of leaking your username and password or having malicious software installed on your personal devices. Think before you click.
A new article entitled ‘Cyber Scams increase by 400% during coronavirus pandemic‘ is available here on our website.
Regards,
Mark Reidford APFS
Managing Director
If you have any queries as to how this may affect you, please contact us by email: info@innesreid.co.uk, or on our normal office number: 01244 347 583 during office hours.
For further business updates regarding coronavirus, please visit our designated webpage at: www.innesreid.co.uk/coronavirus/
Chartered Financial Planner (APFS)
Mark has been working in the Financial Services sector since 1990. After qualifying as a Financial Adviser, he worked for a large North West based IFA for almost 7 years before founding Innes Reid Investments Limited in 1999.
Since its foundation, Innes Reid Investments has grown to become one of the leading IFAs in the North West and one of the Top 250 IFAs in the UK as listed in The Times. Mark specialises in a wide range of financial services including, but not limited to: Pensions, Inheritance Tax Planning, Wealth Management and Tax Year End Planning. View full profile >
