Skip to main content

Our Chartered Directors are here to stay!

Advisers need to be picky when it comes to deciding which clients to take on. New research has revealed 60% of advisers turned away prospective clients in the last year. The reason is not hard to guess: there are far more clients than advisers, and numbers in the profession are only getting smaller. The same research by Octopus Investments states that as many as 15,000 advisers plan to leave the profession in the next 10 years. A poll of 255 financial advisers and 1,000 students, found that six out of 10 advisers had felt forced to reject prospective clients in the last 12 months. The new figures published today raise questions about the profession’s ability to service a rising demand for its services. When asked about their future plans, 29% of the advisers surveyed said they intended to retire by 2025, a figure which rose to 62% by 2030. According to Octopus, this equates to around 15,000 advisers eyeing up an exit from the profession, a slight increase on the 58% of respondents who last year intended to leave finance by the end of the 2020s.

Please let us reassure you, we are not going anywhere! Our desire to grow the business remains as strong as ever as we are passionate about what we do and therefore building a business that focuses on good client outcomes, ethical working conditions, qualifications, technical ability, holistic financial planning and successful professional relationships is at the heart of our Company’s ethos now and will be for many years to come.



Popular posts from this blog

STEP Affiliates

As a firm we are constantly trying to move forward with our standards and professional development. We have aspirations of obtaining Corporate Chartered Adviser’s status early next year and are also working to achieve accreditation from the Society of Later Life Advisers (SOLLA). Another professional accolade we have been working on is becoming Affiliate members of The Society of Trust & Estate Practitioners "STEP" and we are pleased to announce both Michael and Ben are now Affiliate members of STEP. "STEP is the global professional association for practitioners who specialise in family inheritance and succession planning. We work to improve public understanding of the issues families face in this area and promote education and high professional standards among our members."

Inflation

United Kingdom Inflation Rate 1989-2018 The UK consumer price inflation eased to 3 percent in December 2017 from a near six-year high of 3.1 percent in the previous month, as widely expected. Prices rose at a softer pace for transport, recreation and culture, housing and utilities, and food and non-alcoholic beverages. Inflation Rate in the United Kingdom averaged 2.58 percent from 1989 until 2017, reaching an all-time high of 8.50 percent in April of 1991 and a record low of -0.10 percent in April of 2015. Consumer prices index (CPI) is the government's preferred measure of inflation. It is used for international comparison and the government inflation target for the Bank of England Monetary Policy Committee. It is available as an index from January 1997, with estimates back to 1988. It excludes mortgage interest payments and council tax. As of the 2010 budget, CPI as part of the triple-lock, is used to index state pensions in place of RPI. Why is inflation important? Keep...

An update on ISAs

Cash These ISAs are the simplest form, but unfortunately at present paying poor returns and in most cases not keeping pace with inflation. Enjoys Financial Services Compensation Scheme Protection up to £85,000 per provider. The ISA limit for 2017-18 is £20,000. Stocks and shares All or some of the annual ISA allowance can be invested in stocks and shares. This can be done directly in shares of companies or in bonds, or through funds or investment trusts, which are funds that are traded on the stock market. Investors can also use 'passive' investments, which are low cost and track different markets, such as the FTSE 100. The ISA limit for 2017-18 is £20,000. Junior Junior ISAs are for those under the age of 18. Up to £4,128 can be saved into these ISAs in the 2017-18 tax year. At age 18 this money is then converted into an adult ISA, and the child takes control (and can do what they want with the money). The money cannot be withdrawn until age 18, unless the child is te...