An independent (financial adviser’s) view

‘If you want to understand what's happening in the economy, don’t read text books, look around you’. Continuing my ‘big is not always better’ theme, we tried five independent-or-small-chain coffee shops in nearby Witney for a Saturday coffee and cake, all with queues and no free tables, before managing to sneak in to no.6 after a bit of a wait. Plenty of seats, however, at both Starbucks and Costa which will soon, I predict, be modifying their UK operations. Anyway, winter is forecast to finally peter out in this week, luckily, as, first-world Cotswolds problem, our Aga has just done the same. No need for food parcels, we’ve moved out to the greenhouse and are coping with extra jumpers; although I know of other ‘locals’ who’ve quickly abandoned their second homes and headed back to town for less.? More about my advising week in video-form below, subscribe if you would, please.

“Quarter of divorcees will consult a financial adviser”

If you’re an adviser, and have been so for any length of time, it’s pretty much inevitable that you’ll be dealing with divorce (of clients, the job’s not that bad) about as often as, sadly, death (again, of clients etc.). Most of those in the early days will tell me that everything is amicable, they’re sorting out the finances between them, probably no need to involve costly solicitors and other legal stuff. But although you’re encouraged to work out the ‘who gets what’, as far as possible, between you, making it happen will usually need some legal and financial advice help, most definitely if pensions are involved. They can’t be passed on or separated without a sharing order issued by the court. My advice, for better or worse, is usually to ‘get legal’ sooner rather than later, as the later may end up costing you more (and often be complicated by the arrival of other parties on the scene). And if there’s any degree of complexity to your affairs, you’re likely to need us too. Again, sadly, and for better or worse.

“Generation Z is unprecedentedly rich”

Don’t you just love a good survey? I suspect there are more readers who have Gen Z children than are themselves Gen Z, born between 1997 and 2012. You might think they’re as likely to have anything in common as have I with the several million other Pisces in the UK, and I have to say I don’t recognise many of the traits identified here. They are, apparently, mostly employed in well-paid jobs, their wages are growing, youth unemployment in the developed world is at record low levels and they’re likely to end up much better off than the Gen before, the X-ers. Anecdotal evidence, I’d say, might indicate the opposite. They won’t have much in the way of pensions, home-ownership is a distant dream for many as is the possibility of being cared-for in old age. The rise in inequality makes it much harder to generalise, of course, but one thing’s for sure: the music’s not nearly as good.

“78% of UK workers would quit due to stress, study finds”

Back in one day or another, we used to arrange many more income protection policies. They pay if you can’t work and your sick pay stops, which for most happens pretty quickly now. The two principal reasons for claims have always been 1. Back pain and 2. Stress, and any mention of previous problems with either would trigger exclusions or declines. It seems that little has changed and that if anything, the workplace has become more stressful, with or perhaps because of greater mental health awareness and less attaching stigma. There are many pretty awful employers out there and far fewer unions and the like to represent or help their employees. And far fewer salespeople selling often much-needed and potentially valuable protection plans; more’s the pity.

“‘Financial planning for polyamorous relationships is not any different'”

Well, here’s a thing, a thing that I have to say I didn’t realise was a thing. A polyamorous relationship is, apparently, a threesome or moresome knowingly together in one household in one form or another. Yes, families have become more complicated in these still-progressive times, and many have more than one family and/or sets of children and relationships to take into account. They’re the ones we encourage to get wills and work out who should get what; and you’d be surprised how many haven’t done so. What should we do however as advisers, if and when we meet those ‘embracing ethical non-monogamy rather than infidelity’? Try not to look surprised and make it up as you go along, is the likely answer. Jokes and alternative answers on the proverbial, please.

A tale of two, what are now known as Police Procedurals, which would, I guess, cover even the Z Cars and Dixon of Dock Green (kids etc) of years gone by. ‘Blue Lights’??(BBC) is a second series about what were in the first, rookie cops in Belfast. And that first was grippingly excellent, with the young newbies thrown in with cynical oldies against the ex-IRA gangs who still rule the city's estates and drug trade. This series starts with the assumption that you remember just who did what to and with whom from the year ago that the first was aired, and feels more like a soapy Irish ‘The Bill’ than top notch drama in its early hours. It heats up pretty quickly, but has rather too much of the same old, with BBC balance moving the action from Republican to Loyalist gangs this time. ‘Criminal Record’ (Apple TV) may have many tropes (good word) from many other cop tales, good cop/bad cop, cynical, corrupt old guard, idealistic younger, difficult family lives etc.. But little of that matters; it’s full-on and un-turn-offable for six episodes, and I hope they don’t make the mistake of a second series.