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Planning for your retirement? Let’s talk it through…
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Planning for your retirement? Let’s talk it through…
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Planning for your retirement? Let’s talk it through…
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Planning for your retirement? Let’s talk it through…
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Planning for your retirement? Let’s talk it through…
Did you know...
...That almost 100,000 complaints were made against high street banks in the second half of 2010 alone? And that 53% of complaints initially dismissed by banks were subsequently upheld in favour of the customer by the Financial Ombudsman Service?
As the shocking effects – and causes – of the financial
crisis continue to be revealed in painful detail by our newspapers and media,
banks are facing increasingly heavy criticism for their failure to support
businesses and individuals.
In January 2011, the Financial Services Authority (FSA) announced that it had “fined Barclays £7.7m because it sold investments to customers that were completely unsuitable.” (BBC News, 26 January 2011). The bank faces paying up to £60m in compensation, the BBC reported.
In another example, the Telegraph revealed that “millions of investors have put faith in their banks to generate decent stock market returns by investing in their unit trusts. Yet their records are mostly appalling.” ('Dare you buy a fund from your bank', Daily Telegraph, 6 February, 2011).
Consumer organisations such as Which have “repeatedly shown” that IFAs do a better job of delivering financial advice to the public. Why settle for second best?me
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The good news…
The good news is that increasingly savvy consumers are waking up to reality. One positive effect of the UK’s financial crisis is that people have started questioning the role and performance of banks, and have begun taking control of their financial future – by asking professionals.
The UK is likely to remain in the grip of recession for years to come. It’s an uncertain, unstable time for all, and people are understandably nervous about who to trust and how their money is being used. At the same time, life expectancy is rising, meaning people are having to make their pensions, investments and savings work even harder in order to support themselves through old age.
Engaging with your finances has never been more important. Is your money working as hard as it could be? Do you have a plan in place for future events (both expected and unexpected ones)? The reality is that your money could almost certainly be working much, much harder.
More and more people are starting to take an active approach to their financial future. If you want to find out what AFM can do for you, just say hello.
Call us on 01823 413963, or email hello@afm.me.uk
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