Female IFA

Over the years as an adviser I have seen many changes in our industry and have noted the change in focus from products to outcome, but there still seems be a lot of mystery around what we do.

Here’s a breakdown of some of the things we do:

• Personal advice A financial adviser will find a solution that’s tailor-made for you. We will ask you questions about yourself to get a full picture of who you are and what you need.
• Knowledge of the market We are not tied to any particular bank or provider and because of this we are able to research the market place to access products that are suitable for you.
• Extra benefits For example, with protection policies e.g Critical Illness, the cover does vary from one provider to another and we can help you decipher the most suitable product for your needs.
• Peace of mind We can look into the policies you already have and report on any shortfalls, taking your employers’ and state benefits into consideration, ensuring that you only have policies you need. We can also make sure they are set up as efficiently as possible, for example in a trust if this is beneficial to do so.
• The buck stops with us We take away the worry of you getting it wrong. We keep you up to date and take full responsibility for all the advice we provide.
• Practical help For example, if you need to make a withdrawal or a claim we can hold your hand through the process researching the paperwork that needs completing. Often this is during emotionally challenging times.
• Proactive Support If you opt for an ongoing service we will go on providing support, making sure the policies you have are still suitable for you.

These are just some of the areas we can help with, if you would like some help please call us on
020 8655 8488.

Of course there are always exceptions, but it seems that the internet has made the generation gap even wider.

You might be interested in this breakdown of ‘recent internet usage’ by age.

As you might expect, younger people seem to use the internet more often.

• 99% of people aged 16 to 34 years old reportedly used the internet recently1

By contrast, over 75s use the internet far less, although this is changing.

• In 2016, 38.70% of people aged 75 years and over were recent internet users (for women aged over 75 it was even less, at 32.60%)1
• In 2018, the percentage of people aged 75 years and over who were recent internet users rose to 44%1

What this means to us

One of the biggest questions we face as a firm is the best way to communicate with our clients.

For example, the data above shows that our web presence and online communications aren’t reaching most over 75s. That’s important information for us to be aware of.

At the other end of the spectrum, people reaching adulthood in the early 21st century are termed ‘millennials’. It has been reported that:

• Millennials are twice as likely to use mobile phones compared with the older generation2
• Almost half of UK millennials want to do their financial planning on a smart phone2
  We have traditionally given financial advice face- to-face, so this trend poses a new challenge to us.

What this means to you
Hopefully, this article shows that we make every effort to keep up to date with trends so we can adapt our service offering to suit individual needs.

You can be assured that we aim to look after your best interests, not just financially, but also in how we deliver the service. As financial advisers, we want to communicate with you in your preferred way, on your preferred platform.

We’d be interested in hearing what you think. You can communicate with us however you want – via email or phone, sending a traditional letter, or even by carrier pigeon!

At Monetary Solutions Ltd, you can book a free initial consultation about any financial matters, so please call us on 020 8655 8488.

1 Office for National Statistics
(20 May 2016 and 31 May 2018)

2 Independent (5 June 2017)