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Dave’s coronavirus blog post 6

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I managed to tune out of work over the weekend, which is a skill I have learned over the years otherwise as a business owner, you run the risk of being too immersed in the situation, losing sight of what’s really urgent and also seeing productivity drop as you become too mentally exhausted to function properly

It’s now Wednesday morning, and the first two days of this week have flown by. The administrative burden at times like this is not to be underestimated. Recommending even a simple portfolio change to clients is massively time consuming. Insurers are also working under the same lockdown and social distancing rules as the rest of us, so wait times to speak to them are much longer than usual and this becomes a vicious circle because it’s much busier than normal (even at tax year end), and each process takes more time than  usual too.

We’re taking steps to ensure the wellbeing of our staff, encouraging them to partake in the Joe Wicks work out at 9am each day, although I haven’t quite got as far as to offer a live stream of me doing it. There are some things even the most amazing employees don’t need to see. 

We’ve pulled together a document for clients that analyses the 8 major market ‘sell offs’ since the late 1950s, as we believe that history demonstrates holding your nerve and not selling your portfolio is the right thing to do.  It’ll be interesting to see what feedback we get from that.

Home schooling our son is proving entertaining so far, and it’s been nice to get the chance to kick a ball around the garden with him over lunch each day. My wife needs to head to the shops today as we need to get some bits for her mum who is running low on supplies. Here’s hoping the shops actually have things on the shelves to buy…