There is still a lot of doom and gloom infesting your excellent rag but I believe there is no better time for our young people to consider a career in financial services.
My dear wife and I, in common with innumerable people are of a “certain age” and live in a valuable property. We hope to downsize to realise capital. If we do manage to move we shall still be living in another valuable property and barring any financial disaster will pass it on to our daughters and their families, who will in turn need advice. This is, and always has been the case.
Now, just think of the innumerable people like me, due to join the “choir invisible” now and over the next many years who have sons, daughters, grandchildren, great grandchildren, the list is endless, who will receive the proceeds of property and business sales, life insurance and trust funds, pensions, savings and investments.
What a prospect to enjoy an extremely comfortable, satisfying and useful life as I did in financial services.
This is exactly what we used to tell our delegates at Abbey Life 14 years ago, setting out on their careers.
So, it was disappointing to hear bad news from my formerly independent IFA at my last review. He has sold out to a big company for a lot of money and is now an employee. He has told me that he must now charge a minimum fee of £3,000 for my pension review.
This is company policy so that it, allegedly, can encourage most of its small and medium investing clients who can’t or won’t pay for the review to go elsewhere, leaving only the wealthy ones.
Time to start a salesforce anyone? My advice is take on those young people mentioned in ifs University College vice-principal Alison Pask’s letter in Money Marketing.
Get them trawling through your unloved so called client bank and get them to give them a call. You will be surprised how delighted your forgotten Clients will be to hear from a person who is not a Bank “Wealth Adviser”.
FB Consulting Ltd