The Financial Conduct Authority’s (FCA) proposals on targeted support have been widely discussed as a step towards bridging the advice gap. But are we missing the bigger picture? For underserved communities—those who most need accessible, trustworthy support—there’s a crucial difference between empowerment and nudges. While targeted support offers well-intentioned suggestions, it risks funnelling people towards … Continue reading Empowerment, Not Nudges: A Better Way to Serve Underserved Communities
Tag: money
Raising Living Standards: A Welcome Shift for the Public and Holistic Financial Planners
Last week, Keir Starmer made a decisive shift in focus—moving from a narrow "growth objective" to a broader and far more meaningful goal: raising living standards. For the public and holistic financial planners alike, this is a breath of fresh air and a move in the right direction. Why? Because the old focus on growth … Continue reading Raising Living Standards: A Welcome Shift for the Public and Holistic Financial Planners
Debunking Two Myths About the Advice Gap
The term “advice gap” has been widely used in financial services to describe the absence of accessible financial advice for certain segments of the population. However, two persistent myths about this so-called “gap” need to be addressed to ensure we’re truly solving the right problems. Myth 1: There Is a Genuine Advice Gap The first … Continue reading Debunking Two Myths About the Advice Gap
Targeted Support: The Pitfalls of Prioritising Investment Sales Over Personal Empowerment
The Financial Conduct Authority (FCA) recently acknowledged a harsh truth: their new "targeted support" measures won’t deliver "perfect advice" for everyone. The initiative aims to encourage more people to invest and take on long-term financial risks. But as we dig deeper, it becomes clear that this approach prioritises financial capital over human capital, raising significant … Continue reading Targeted Support: The Pitfalls of Prioritising Investment Sales Over Personal Empowerment
From Financial Planning to Holistic Wealth Planning: A Broader Perspective
A fellow Chartered Financial Planner recently shared a thought-provoking post titled, "WTF is Financial Planning?!" It described a solid approach to traditional financial planning—covering goals, managing resources, and ensuring a balance between living well and preparing for the future. While it was a great outline for what many consider "best practice," it made me reflect … Continue reading From Financial Planning to Holistic Wealth Planning: A Broader Perspective
Bridging the Empowerment Gap: Why Financial Empowerment, Not Advice, is the Future
For too long, the financial services industry has focused on solving the wrong problem. The buzzword has been the “advice gap” — a perceived lack of accessible financial advice for the masses. But the truth is, the real issue isn’t advice; it’s empowerment. People don’t need to be sold financial products disguised as solutions. They … Continue reading Bridging the Empowerment Gap: Why Financial Empowerment, Not Advice, is the Future
Review of PFS’s “A Guide to Personal Financial Planning”: Assessing the Essentials of Modern Financial Planning
In the ever-evolving landscape of financial planning, it’s crucial to move beyond the traditional focus on financial capital alone. A comprehensive approach must integrate human capital strategies and personal values assessments, recognising the broader context of an individual's life. Let’s explore whether the PFS guide effectively incorporates these critical components. Does the Guide Include Personal … Continue reading Review of PFS’s “A Guide to Personal Financial Planning”: Assessing the Essentials of Modern Financial Planning
Exploring the Threshold Hypothesis: Can More Money Really Buy Happiness?
For years, we’ve been told that money can’t buy happiness. But if that’s the case, why do so many of us strive to earn more, save more, and invest more? What if there’s a point where income does contribute to happiness, but only up to a certain level? This question has been explored in depth … Continue reading Exploring the Threshold Hypothesis: Can More Money Really Buy Happiness?
The Wealth of Well-Being: How Financial and Life Satisfaction Intersect
In today’s fast-paced world, achieving financial well-being is often seen as the ultimate goal. But is financial success alone enough for a fulfilling life? In A Wealth of Well-Being: A Holistic Approach to Behavioral Finance, Professor Meir Statman delves into the heart of this question. He introduces a refreshing perspective on how financial decisions are … Continue reading The Wealth of Well-Being: How Financial and Life Satisfaction Intersect
Breaking Free from the Golden Handcuffs: How a GAME Plan Can Lead to a Better Life
We’ve all heard it: “You’re doing great, climbing the ladder of success, living the dream.” But what if, deep down, you’re running at full speed on a treadmill you don’t even want to be on? The money’s good, the perks are there, but something’s missing. Maybe you’re stuck, feeling trapped in what many call “golden … Continue reading Breaking Free from the Golden Handcuffs: How a GAME Plan Can Lead to a Better Life
Academy of Life Planning 