It’s all change?15 June 2018
Brexit has been a great concern to many in the UK. Listening to some loud and frequent press / media comment, the perceived view, set against other geopolitical positions, might be that British business and British consumers are somewhat doomed. This is not the case; indeed, the amount of change in the financial services sector, as an example, occurring through mergers, acquisitions, fund changes and the like seems to have accelerated significantly over the last couple of years.
You may have received letters from insurance companies and fund managers noting variances in fund descriptions or new provider names, as examples. These changes have been largely positive, although some online platform changes have been poor in their execution and this has caused frustration on more than a few occasions.
Is all this change a good thing? I have seen this type of evolution in the past and it has largely generated better consumer outcomes and I believe it will be the same again with the many changes we are now witnessing. I think the key word in this statement is evolution, because financial services rarely stands still. With technological innovations, accessibility and connectivity, many changes reflect these new opportunities. I would note that some of the provider communication and its wording has been less than effective, but this aside (annoying though it has proved), I believe the outcomes will be positive.
Our role as chartered financial planners and independent financial advisers, you will be pleased to note, remains unchanged. To be here for our clients, to act as the intermediary for our clients in dealing with providers and explaining any changes that may be proposed. It remains all about communication, and we are here to smooth the process and to help our clients stay ahead of the change curve.
We look forward to helping you with your financial planning into the future. Contact the team at Chapters Financial at our Guildford office.
No individual advice is provided during the course of this blog.
Keith Churchouse FPFS
Director, CFP Chartered FCSI
Chartered Financial Planner
Chapters Financial Limited is authorised and regulated by the Financial Conduct Authority, number 402899