It’s generally true that younger clients are happier to take more risk, young, to us sadly, being 50 or under! This is particularly the case with pensions, which can’t, anyway, be touched for 10 years or so. Thing is, there’s ‘risk’ and ‘are you serious?’ The former, for us, is having more than half, or all of your investment, in shares. The latter, bitcoin, unbuilt properties somewhere foreign and shares in the next big thing you heard about on Instagram (the current platform of choice for scammers, apparently). That might once have read ‘you heard about down the pub’. But those days, alas, have gone.
“Letter of authority: Why now is the right time for change”
This may sound like a non-issue from outside the world-of-financial-advice bubble. It is the bain, however, of the daily working lives of many of us, particularly of those paid by we advisers to do the dirty work of dealing with the many providers with whom we have to work.