‘Financial advisers should be more like GPs’. An interesting headline. The writer’s rationale is that we should be empathetic listeners, not talk in jargon (‘don’t tell me the Latin names for a disease’) and ‘build trust’. My immediate thoughts (and, sadly, those of most others whom I’ve asked): I should hire a scary receptionist who’ll tell you that you can have a telephone appointment in a couple of weeks, if you actually want to see me it’ll be sometime in 2024 and ask are you sure you really need financial advice as we’re very busy. Both versions are, I think, unfair on both professions but perhaps both we and GPs (if they have time) should reflect on the impressions and prejudices which do exist; and which stop at least some who need it from seeking advice from either of us. Of course, not putting enough into your pension or using your ISA allowance is unlikely to be life-threatening in the short-term. Which might lead to further reflection on the sad-but-true fact that most financial advisers are less qualified than, but earn more than most GPs. And don’t get me started on footballers.
“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.
