What do IFAs wish for their clients in 2019?

7 January 2019

Let’s face it, 2018 was turbulent. With Britain on the verge of leaving the EU and much talk of General Elections and no confidence votes, you could forgive the average investor for feeling a little jittery. We spoke to four big names in the world of financial planning about what they wish for their clients – and the general public – in 2019.

Jason Butler, personal financial well-being expert

“The advice I hope people will follow in 2019 is to have more honest conversations about money. That means being open and honest with partners, parents, children, friends and colleagues about what matters in life and the role of money. The less a taboo we can make money and realise that materialism and consumption rarely lead to greater wellbeing, the better we’ll all be.”

Natalie Wright, director, Mazars

“Pay yourself first – automate your savings by simply setting up a direct debit to another account as soon as you get paid. I started doing this myself just over a year ago and it has made a significant difference to my attitude to savings and how much I have managed to save. The knock on effect has been that I have less money to spend on things I probably don’t really need and I have been far more mindful when spending but it’s not actually affected my standard of living.”

David Hearne, director, Satis Asset Management

“In the words of a Star Wars rebel pilot, my advice is ‘stay on target’. 2018’s stock market falls, 2019’s Brexit, and 2020’s US presidential elections should be ignored like a misfiring stormtrooper. They may look scary but if you have a long-term financial plan, and you stick to it, they are unlikely to bring you harm.”

Adam Piplica, paraplanner and writer at MagicalPenny.com

“Don’t delay taking action – DIY investing is easier than ever but one of the biggest advantages of using a financial adviser is the helpful nudge (or push!) they provide to take action. Advisers help clients to define their objectives and goals and then implement them. However, it does require the client to take the final step of confirming they are happy to proceed with the advice. I have what seems to be an ever-growing list of outstanding prompts to clients to ask for their confirmation for the investment recommendations or tax-planning strategies to be made. The only quick decisions seem to be when the clients want access to their cash! In 2019, my wish is for clients to respond more quickly to the advice provided to them. I certainly don’t want anyone to rush any decision but I want them to take advantage of the adviser’s hard work and diligence in preparing their tailored and customised advice, and give them the prompt go-ahead to implement the plan!”

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Maria Marques
Author
Maria Marques

Head of Marketing at Advicefront

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