For a younger generation, one that is becoming engaged with robo-advice and passive investing, and where financial advisers are an irrelevance, how to find a footing in this world is going to be all-important.
What is a financial adviser to the younger generation?
Older advisers with independent businesses may not care about this.
But SJP is a FTSE100 company that has to build for the future – other advisers would do well to do the same.
Use power wisely
Hargreaves Lansdown is clearly still reeling from the Woodford affair – at least, that is my interpretation of its latest accounts.
And changes are afoot here too. Out goes the Wealth 50 and in comes an independent board member to its wealth management arm to help pick stocks on the best buy lists.
What a mess.
One of the great arguments in favour of the Wealth lists was that they demonstrate HL’s power to negotiate lower fees for their customers.
But if HL’s bargaining power is so mighty, why is it largely only the Wealth 50 funds that have a discount?
Surely its power for good should apply to all funds, whether it has tipped them or not.
Which do you want first?
One of the questions I always get asked is: why do journalists only ever write bad news?
My answer is this: would it be better if we assumed people were essentially always trying to do the right thing and only reported on it when they did something wrong?
Or should we assume everyone is fundamentally bad and only report when something is good?
I know which I think is the most cynical.
James Coney is money editor of The Times and The Sunday Times