by Nick Britton
Nick Britton
Given that I’ve been talking to financial advisers for years in my job, it’s strange to think that this month was the first time I sat down with one to discuss my personal circumstances.
I’m probably not your typical client – I went into the room brandishing my financial plan, printed out on A3 paper, painstakingly (if crudely) crafted in Microsoft Excel. I’m pleased to say that the adviser was very nice about its deficiencies and thought it was broadly along the right lines, though he did think my assumption for equity returns at a nominal 7% was a bit bullish.
The value of a one-to-one with a financial planner can hardly be overstated, in that it opens your eyes to the impact today’s money choices could have on the rest of your life. This week is Financial Planning Week, when financial planners up and down the country are giving up their time to provide free one-hour consultations to members of the public. It’s a great initiative organised by the Chartered Institute for Securities and Investment (CISI) and I hope it converts more people to the benefits of financial planning.
Investment companies have tended to exist in a rather different world from financial planning. That’s not necessarily the fault of financial planners, given that investment companies’ marketing efforts have not tended to focus on their profession. But this doesn’t mean that my industry should give up on financial planners – or the other way around. After all, investment companies have benefits that could be highly relevant for financial planners’ clients – for example, the ability to provide a smoothly growing income from equity-based investments.
The intersection between financial planning and investment companies is the subject of a series of seminars we’re doing in November, with guest speakers including Jacqueline Lockie, head of financial planning at the CISI (and my predecessor at the AIC). Some of you have already registered for one of these events in Knutsford, Bristol and Guildford – if you haven’t yet, take a look – they’re a bit different from our standard seminars and should be interesting.
We’ve also released this week a new report we’ve commissioned from the lang cat about how advisers are overcoming barriers to using investment companies. The findings make worthwhile reading, as do the associated case studies of four advisers who use investment companies. The report is called “You Can Do It”, which is appropriate: as with so much else in life, things seem a big deal until you actually get on with it and do them… and then they don’t. I know I’m largely preaching to the converted here so I will stop it and let you dive into the case studies which provide lots of practical tips from real advisers.
Rounding off Spotlight this month, we have thoughts on Europe from fund managers focused on the region, and managers from the Flexible Investment sector talk about how they are navigating the current market queasiness and positioning their portfolios for what they fear may be an even bumpier ride around the corner.
That’s all from me. Hope to see you at one of next month's seminars.
Nick Britton, Head of Intermediary Communications, AIC
5 November Investment trusts in financial planning (Cheshire) This AIC seminar at Cottons Hotel and Spa explores the ways in which investment trusts are relevant to financial planners today. Speakers include Jacqueline Lockie, the CISI’s head of financial planning. 2.25 hours of CPD. Full details.
6 November Investment Trusts Explored: Where Next for 2020? Income, growth or both? (London) This event at Pewterer’s Hall, near the Barbican, is run by Sub35, a network of wealth and investment managers up to and around the age of 35 (though they can be a bit flexible on that). Introduced by Winterflood’s Simon Elliott, the event comprises presentations from three investment company managers including Jon Henry of Monks. Join Sub35 for free and register for the event here.
27 November Investment trusts in financial planning (Guildford) This AIC seminar at the Holiday Inn Guildford explores the ways in which investment trusts are relevant to financial planners today. Speakers include Jacqueline Lockie, the CISI’s head of financial planning. 2.25 hours of CPD. Full details.
28 November Investment trusts in financial planning (Bristol) This AIC seminar at De Vere Tortworth Court explores the ways in which investment trusts are relevant to financial planners today. Speakers include Jacqueline Lockie, the CISI’s head of financial planning. 2.25 hours of CPD. Full details.
7 January 2020 VCT Showcase (Exeter) Organised by Intelligent Partnership, VCT Showcase offers the opportunity to hear from several VCT managers at one event. There’ll be three-minute elevator pitches followed by 15-minute presentations and a panel discussion hosted by Nick Britton of the AIC. Find out more.
15 January 2020 VCT Showcase (London) Organised by Intelligent Partnership, VCT Showcase offers the opportunity to hear from several VCT managers at one event. There’ll be three-minute elevator pitches followed by 15-minute presentations and a panel discussion hosted by Nick Britton of the AIC. Find out more.
21 January 2020 VCT Showcase (Knutsford, Cheshire) Organised by Intelligent Partnership, VCT Showcase offers the opportunity to hear from several VCT managers at one event. There’ll be three-minute elevator pitches followed by 15-minute presentations and a panel discussion hosted by Nick Britton of the AIC. Find out more.