Recent research has found that there is a gap between the age at which people want to retire and the age they actually think they will make the move, which is larger among younger people than those aged 45 to 64. Continue reading Younger people pessimistic about retirement
Category Archives: Trevor Wilshire
Recent research has found that there has been a 10 per cent decrease in people using face-to-face financial advice to plan their finances than there was seven years ago.
This is a result of technology being used more and busy people becoming used to the ‘faceless’ approach. However, many financial advisers find that a mix of the personal touch plus technology gives both them and their clients what they need.
As one financial adviser commented, more and more people are using video chats or other technology to talk to clients about simple matters and then a face-to-face conversation if the subject is more complex.
The use of technology is allowing businesses and their customers to have the best of both worlds. Many firms are now offering remote advice through split screen technology, which allows the client and adviser to share reports, files and documents online while speaking to one another on the phone.
In addition, for clients who are out of the country, ‘face time’ conversations can be very useful, although this tends to work better when there is already a personal relationship that has been established.
As one financial adviser explained, it would be difficult to work with a client remotely from day one, as body language is so important in any relationship, particularly one where trust needs to be built.
However, for established relationships, where the trust has already been built up, technology is very useful, as there is now a way that businesses and customers can store their signed documents privately and safely online, while making the document easily accessible when needed.
The obituaries of comedian Ken Dodd, who died on 11 March, all mention the fact that in 1989 he stood trial on eight charges of tax fraud. He was eventually acquitted but not without having to repay a reported £2 million in backdated tax. Continue reading Ken Dodd’s last laugh
With the end of the financial year fast approaching, many people with extra cash are wondering what they can do with it to reduce their tax bill, both this tax year and in the years to come. Continue reading Saving as much as possible through judicious planning
The Trades Union Congress (TUC) has suggested that a move towards Collective Defined Contribution (CDC) schemes would help to protect savers against adverse market movements, calling the current system a “pensions lottery”. Continue reading TUC warns against ‘pensions lottery’
Government figures show that there is currently more than £400 million in unclaimed pension savings in the UK, as people who have had multiple jobs over a lifetime lose track of the schemes they have joined. Continue reading How to trace unclaimed pensions
Some of the UK’s biggest pension providers are planning to discourage retirees from taking advantage of new pension freedoms that mean they are entitled to empty their pension pot in one go. Continue reading Potential clampdown on pension freedoms
With the current row about equal pay rumbling in the background, it is interesting to note that the Government’s reforms on pension savings will mean that women can ‘look forward’ to receiving less in retirement than their male counterparts. Continue reading Pension gender gap
Recent figures show that pension savers have collectively accessed £15.74 billion since new retirement freedoms came into force in April 2015, with flexible payments from pensions totalling over £6.5 billion in 2017 alone. Continue reading Pension withdrawals hit £6.5 billion in 2017
Saving for a pension can be a headache for the self-employed, unless they are really organised, and that is a worry for the Government, as they potentially have more than five million people who could retire with insufficient savings. Continue reading Collective pension schemes