Category: Coaching

Free Financial Advice is usually worth exactly what you paid for it. Here’s why

In the article, the journalist says “…free advice is usually worth exactly what you paid for it…”  which may not be necessarily so.

In financial planning, free advice (albeit sometimes well intended) can frequently take you further away from where you want to be, putting you in a more precarious or risky position than  you were before. Continue reading “Free Financial Advice is usually worth exactly what you paid for it. Here’s why” →

Do clients want their advisers to guess what is best for them, or help them find the best way ?

A recent FCA (Financial Conduct Authority) report (mainly centred around the issues of a standardised fact-find  -the gathering of client information), ‘acknowledged’ that the length of the fact-find process can act as a potential barrier to the consumer seeking advice.

What the report does not say is how long this lengthy, arduous task of explaining what are the most important things in your life and how they may impact on your financial outlook for the rest of your life actually takes. Continue reading “Do clients want their advisers to guess what is best for them, or help them find the best way ?” →

What is a financial life plan ?

Here is a questions often asked – what is a financial life plan, and why would I need that as opposed to a financial plan?  

More and more consumers are understanding that there is a difference between the old way of financial advice (selling as many products as possible) and financial planning (where recommendations are able to demonstrate that they are relevant and appropriate for the long term).

So where is Financial Life Planning different? Continue reading “What is a financial life plan ?” →

Is the financial advice experience negative or positive?

A question I have been mulling over – ‘is financial advice negative or positive’ – or is it aimed to create negative feelings, then solve them with overly positive predictions or scenarios, or actually, should it be to create positive feelings, then stay sensibly grounded, aware of what could happen (negative scenarios)? Continue reading “Is the financial advice experience negative or positive?” →

Can you recognise the vicious cycle of money worries?

There is a vicious cycle combining money and mental health  – quite simply, worrying (about money in this case) makes mental health worse, and poor mental health, makes managing (money in this instance) harder.

Although we are taking money as the example here, the example can be extended to many areas – just substitute money for ‘work’, ‘relationships’, ‘health’  and many more.  In particular though, the money cycle is one which can have a self-destructive path which is far more challenging to escape from. Continue reading “Can you recognise the vicious cycle of money worries?” →

What your emotions and the financial markets have in common

Your emotions and the financial markets may have more in common that you first think.

Over the long term, the general trend of financial markets is upwards. Like it or loathe it, the concept of financial growth (some may call it capitalism) seems to work.  Of course, from time to time, there are little wobbles along the way, sometimes (2001 and 2008 spring to mind) there is a calamitous drop in value. Given time however, and avoiding panic, generally, things recover, and after a while, are back to where they were, and improving again (unless of course you had all your assets in one company which went bust) .  This is the message we convey to our investment clients at Serenity – trust in the plan, and despite the short term wobbles, in the end, the plan will see you through.

Using happiness as the global currency instead of money, generally, society can hope to work towards greater joy, feeling better about the things around us and ourselves.  Trust that generally, life will be ok, and we find that the investment in ourselves will pay dividends, be it health or mental functions.  Continue reading “What your emotions and the financial markets have in common” →

Overthinking – the art of creating problems that weren’t there!

Are you one of the very fortunate 27% of 25-35 year olds who do not overthink?  Yes, a staggering 73% of that age bracket have been identified as over-thinkers according to research conducted by Michigan University.

There are many great quotes about overthinking, but what is it and why does it occur? Continue reading “Overthinking – the art of creating problems that weren’t there!” →

Belief, focus, time management, health and ignorance – that’s all it takes…

You probably have great intentions to move forward with one thing or another, yet doubt creeps in, you get distracted, run out of time, don’t feel up to it, or spend so long gathering information, that the time has passed.

There are 5 key non-negotiable disciplines of high achievers.   Continue reading “Belief, focus, time management, health and ignorance – that’s all it takes…” →