In Focus: When Clients' Plans Change  

'We're still trying to get a feel for how the world looks'

'We're still trying to get a feel for how the world looks'

Financial advisers must "stay focused" as clients try to navigate an uncertain environment, politically, financially and health-wise as we head into 2022.

"We're all still trying to get a feel for how the world looks post-pandemic", Tim Morris, IFA with Russell & Co, has admitted.

Speaking on the latest FTAdviser In Focus Podcast, he said clients were still concerned about the way the world has been - and how it might turn out as we head into 2022. "So are we [as advisers]", he said.

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Joining Morris was Chris Jones, proposition director for Dynamic Planner, who said: "Most clients might have been worried about the [market] falls and the potential impact on their long-term savings. 

"Taking them away from all the noise and the news and showing them how their portfolios work and reassure them that they can still have the lifestyle they want, is an important element."

It might mean one less Sunday lunch a year, but with proper communication and using cashflow modelling in conversations, clients can be assured despite market falls and big headline falls.

It's also about "coaching" clients to consider where to invest for dividends - you cannot rely on investing in the FTSE100 for dividend income any more. "You need to be diversified", Morris said.

He added: "It's all about communication" which needs to be "more than a quick phone call" now and then. He urged his fellow advisers to: "Not put off til tomorrow what you could do today."

Jones agreed, adding: "Be proud of your profession as a financial planner and focus on that."

To listen to the full podcast, click on the link above. 

simoney.kyriakou@ft.com