Did you know? Only 14% of people talk to their children or grandchildren about money and inheritance on a regular basis. Additionally, fewer than 30% have taken measures to mitigate inheritance tax. It is time to change that! Arbuthnot Latham’s latest report dives deep into these statistics, offering actionable insights and solutions to empower you on your financial journey. Do not let uncertainty hold you back – download your copy now and join us in shaping a brighter financial future! Download here: https://lnkd.in/ekVbRXmM #helpingyougofurther #financialwellbeing #privatebanking #wealthplanning #inheritance #financialplanning Did you know? Nearly 90% of people share worries about the economy, yet only 30% consider discussing their financial concerns with their bank during significant life events. It is time to change that! Arbuthnot Latham’s latest report dives deep into these statistics, offering actionable insights and solutions to empower you on your financial journey. Do not let uncertainty hold you back – download your copy now and join us in shaping a brighter financial future! Download here: https://lnkd.in/ekVbRXmM #helpingyougofurther #financialwellbeing #privatebanking #wealthplanning #financialplanning Are you curious about the financial pulse of the nation? Arbuthnot Latham’s latest report delves deep into the numbers, revealing eye-opening statistics that shed light on the state of financial wellbeing. With nearly 90% of respondents expressing concern about the economy and only 30% feeling supported by their financial services providers, it is clear there is work to be done. Do not let uncertainty hold you back – download your copy now and join us in shaping a brighter financial future! Download here: https://lnkd.in/ekVbRXmM #helpingyougofurther #financialwellbeing #privatebanking #wealthplanning #financialplanning Arbuthnot Latham #Professionals
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Did you know? Only 14% of people talk to their children or grandchildren about money and inheritance on a regular basis. Additionally, fewer than 30% have taken measures to mitigate inheritance tax. It is time to change that! Arbuthnot Latham's latest report dives deep into these statistics, offering actionable insights and solutions to empower you on your financial journey. Do not let uncertainty hold you back – download your copy now and join us in shaping a brighter financial future! Download here: https://lnkd.in/eTraew4Z #helpingyougofurther #financialwellbeing #privatebanking #wealthplanning #inheritance #financialplanning
Financial Wellbeing Report 2024 | Arbuthnot Latham
arbuthnotlatham.co.uk
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**Why Financial Advice Is Crucial, Now More Than Ever** Did you know that 24.6 million people in the UK have never taken financial advice? This staggering statistic comes from the latest SJP Real Life Advice Report. According to the report, a shocking 11 million people are deterred by perceived barriers. The consequences? Many miss out on the benefits that financial advice can bring to their mental, emotional, and financial wellbeing. Breaking down these barriers is essential. One-third of respondents believe their personal situation doesn't warrant financial advice. Yet, those who do seek advice experience significant improvements in their quality of life, financial resilience, and mental wellbeing. 84% of individuals who received financial guidance reported feeling better mentally or emotionally. The industry faces significant barriers without there being a potential of untapped clients who have not received the financial education to participate. Is this due to a sense of the industry being the preserve of the few? Or is it lack of awareness of availability of financial advice. Feel free to get in touch or visit www.fergusondean.co.uk to learn more about how professional financial advice can benefit you. #FinancialAdvice #UKFinance #Wellbeing
24.6m have never taken financial advice
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**Why Financial Advice Is Crucial, Now More Than Ever** Did you know that 24.6 million people in the UK have never taken financial advice? This staggering statistic comes from the latest SJP Real Life Advice Report. According to the report, a shocking 11 million people are deterred by perceived barriers. The consequences? Many miss out on the benefits that financial advice can bring to their mental, emotional, and financial wellbeing. Breaking down these barriers is essential. One-third of respondents believe their personal situation doesn't warrant financial advice. Yet, those who do seek advice experience significant improvements in their quality of life, financial resilience, and mental wellbeing. 84% of individuals who received financial guidance reported feeling better mentally or emotionally. The industry faces significant barriers without there being a potential of untapped clients who have not received the financial education to participate. Is this due to a sense of the industry being the preserve of the few? Or is it lack of awareness of availability of financial advice. Feel free to get in touch or visit www.fergusondean.co.uk to learn more about how professional financial advice can benefit you. #FinancialAdvice #UKFinance #Wellbeing
24.6m have never taken financial advice
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What type of financial plan are you offering your client? Is it a personal plan? Does the plan help your client achieve a life well lived? Or is the plan just a compliance plan ensuring you ticked all the boxes according to legislation? Here's another post from our CEO, Marius Van Der Merwe, who is currently doing research for his Masters degree on the topic of #financialwellbeing Visit his page and view his recent posts if you would like to follow the thinking and share in his journey. Like, share or leave your comments below
Enabling independent financial advisors to enhance the financial wellbeing of clients | CEO: Amity Investment Solutions
The four cornerstones of financial wellbeing How do your clients define financial wellbeing? This question has been answered through research conducted by, amongst others, the Consumer Financial Protection Bureau (CFPB). The CFPB is the financial regulator in the United States, the equivalent of the FSCA in South Africa. They asked ordinary people from different spheres in life, levels of income and phases in life, in other words people like our clients, to describe what it means to experience financial wellbeing. Their answers can be categorised into four key emotions which I would like to describe as: experiencing a sense of financial control, having peace of mind, enjoyment of life and having hope for the future. Knowing that they can maintain their current standard of living and that provision has been made for life events that could result in financial distress, provides a client with a sense of security. However, they also want to know that they can spend some money on experiencing life without guilt and that they are working towards achieving some dreams. This satisfies the need to have a sense of freedom. Financial advice is often focused on providing security for some future life event like death, disability, or retirement, whereas what clients are telling us is that they want financial plans that are more personal, and which will help them experience a life well lived.
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The four cornerstones of financial wellbeing How do your clients define financial wellbeing? This question has been answered through research conducted by, amongst others, the Consumer Financial Protection Bureau (CFPB). The CFPB is the financial regulator in the United States, the equivalent of the FSCA in South Africa. They asked ordinary people from different spheres in life, levels of income and phases in life, in other words people like our clients, to describe what it means to experience financial wellbeing. Their answers can be categorised into four key emotions which I would like to describe as: experiencing a sense of financial control, having peace of mind, enjoyment of life and having hope for the future. Knowing that they can maintain their current standard of living and that provision has been made for life events that could result in financial distress, provides a client with a sense of security. However, they also want to know that they can spend some money on experiencing life without guilt and that they are working towards achieving some dreams. This satisfies the need to have a sense of freedom. Financial advice is often focused on providing security for some future life event like death, disability, or retirement, whereas what clients are telling us is that they want financial plans that are more personal, and which will help them experience a life well lived.
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Financial wellbeing changes over time. Our research shows that it varies by age group. As financial goals are achieved, financial wellness rises. Achieving home ownership plays a key role in this. #homeownership #financialwellness #financialliteracy Alexander Hassall Deborah B. Mike Roberts Anna Perera-Shaw
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Significant life events can have a considerable impact on your financial situation. Events such as the birth of a child, changing jobs, buying a house, or dealing with a medical emergency can alter your financial priorities and capabilities. By reviewing your financial plan when a significant life event takes place, you can make necessary adjustments to accommodate new expenses and changes in income. The ULTIMATE GUIDE to RETIREMENT in South Africa Caty Naudé CFP® Martin De Kock Read more here https://lnkd.in/deamgFVe #FinancialGoals #AnnualReviews #ContinuousMonitoring #FinancialSecurity #PersonalFinance
Why reviewing your financial plan regularly is important - Ascor® Independent Wealth Managers
https://ascor.co.za
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Climbing the Ladder to Financial Wellbeing Financial wellbeing refers to a state of being where an individual has a sense of security, stability, and freedom in their financial life. It means having a stable financial foundation, being able to meet financial obligations, and having the resources to pursue financial goals and enjoy life's experiences. Financial wellbeing is a journey that requires stepping through several levels: Level 1: Financial Security Having a stable income, manageable debt, and adequate savings. Level 2: Financial Stability Enjoying a consistent financial situation, with minimal financial stress. Level 3: Financial Freedom Having the ability to make choices and pursue opportunities without financial constraints. You can only reach this stage when your debt level is less than 30% of your income. This aligns with the Bible verse that says, "The borrower is slave to the lender" (Proverbs 22:7). True financial freedom comes when you pay off your debt. Level 4: Financial Resilience Being able to withstand financial shocks and setbacks. Level 5: Financial Confidence Feeling informed and in control of your financial decisions. Level 6: Financial Peace of Mind Enjoying a sense of calm and contentment regarding your financial situation. Take Action Today! Embark on your journey to financial wellbeing. Start by assessing your current financial state and setting realistic goals. Remember, achieving financial freedom is a step-by-step process, and the first step begins with you. #FinancialWellbeing #FinancialFreedom #DebtFree #CedisPay #FinancialGoals
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The Path to Financial Freedom: Prioritizing Needs Over Wants In today's consumer-driven world, it's easy to get caught up in the pursuit of wants rather than needs. But as a seasoned tax professional, I've seen firsthand how this can lead to financial turmoil. Let's explore why chasing wants over needs is akin to financial suicide: 1. Budgeting Wisdom: Focusing on needs allows you to create a realistic budget that covers essential expenses such as housing, food, and healthcare, laying a strong foundation for financial stability. 2. Debt Dangers: Fulfilling wants often involves taking on debt, whether through credit cards, personal loans, or installment plans, leading to a cycle of high interest payments and financial stress. 3. Savings Struggles: When wants take precedence, saving for emergencies, retirement, or future goals becomes an afterthought, leaving you vulnerable to unexpected financial setbacks. 4. Investment Opportunities: By prioritizing needs, you free up resources to invest in assets that generate long-term wealth and passive income, paving the way for financial freedom and security. 5. Mindful Spending: Differentiating between wants and needs cultivates mindful spending habits, encouraging conscious consumption and greater appreciation for life's essentials. Remember, it's not about depriving yourself of enjoyment, but rather, finding a balance between fulfilling your needs and indulging in wants responsibly. Your financial future depends on it. Let's prioritize financial well-being together. Connect with me Sagar Devani to explore strategies for achieving financial freedom while staying true to your needs and aspirations. #FinancialWellness #NeedsVsWants #SmartSpending #IndianFinance
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Reminding people of what they do have, and what their options are, is one of the reasons I love doing this column every week. It’s success across Australia and the UK is evidence that people want down to earth counsel and to share their very real problems when it comes to money. #moneyconversations
Vanessa Stoykov’s latest column in the DailyMail.com . It is a familiar story. The cost of housing is one of the biggest challenges we hear from people time and again when we do our financial wellbeing training. https://lnkd.in/gRiCtEQC #financialwellbeing #costoflivingcrisis
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