FTSE ON THE MEND?

Whilst few people are claiming that the UK economy is on an inevitable pathway toward sustained recovery , the FTSE index has given us plenty recent signs of optimism. The FTSE 100 index has actually risen by just over 50% since its low level in March this year and in the most recently reported quarterly growth figures investors have seen gains of over 20% in just 3 months, the best quarterly performance in the FTSEs 25 year history! Of course the damage done to stock markets around the world by the credit crunch and recessionary conditions means that the base point of comparison is a low one, but that doesn't alter the fact that recent investors in FTSE stocks have had a very fine 2009. This compares very starkly with the historically low interest rates on traditional savings accounts.Of course the risks and rewards are different when you compare a building society account with a FTSE related product and that is why anyone contemplating an investment in the latter should undertake a full fact-find with an Independent Financial Adviser(IFA) to establish the most suitable portfolio based on their risk appetite. But clearly our customers will want help in weighing up all their options and so I'm proud that The Hanley is one of only a handful of building societies with its own subsidiary IFA business (Hanley Financial Services) so that our members and customers can get exactly that sort of professional,trustworthy advice. Retail savings from high street providers can co-exist with FTSE linked investments.......the link is the customer need and the provision of independent financial advice.