As we mark World Wellbeing Week, financial advisers need to step up their game and offer more emotional, mental and general health support to their clients according to national IFA Continuum.
Providers have reported more clients turning to them for wellbeing support. However, most financial advisers are not offering wellbeing services to their clients, despite often being one of their clients’ most trusted confidants.
The FCA’s own 5-year strategy focuses on improving trust and how financial services firms can help improve overall client wellbeing.
Martin Brown, Managing Partner at Continuum, said: “Over the past three years we have noticed more and more clients reaching out for emotional support and help with general wellbeing.
“We believe personal wellbeing is the key to clients enjoying a satisfying, balanced and prosperous future.
“Money is one of the most sensitive and uncomfortable subjects for many of us to talk about. A good independent financial adviser will build up their relationship with their clients to the point at which they are often one of the most trusted confidants.
“The service from a good financial adviser should stretch way beyond just telling you what to do with your money. We must be there to support clients and their families with life’s challenges. It is something all financial advice firms should offer as a core service.”
The wellbeing service Continuum offers to clients includes guidance on improving resilience, top tips for better sleep, exercise, working from home, alongside more financially focused well-being essentials such as budgeting and how to develop a healthy approach to money management.
The service begins with getting to know and understanding clients’ objectives, and their wider hopes and dreams. Then setting out what financial advice could really mean for them and if following up any initial interest, explicitly detailing what it will deliver and means for them and their adviser.
Editors Notes – About Continuum
Continuum, headquartered in Plymouth, was established in 2014 by founding partner, Martin Brown, as a National IFA brand to offer a modern, new financial advice experience.
The business focuses on creating a three-way partnership between Continuum, the adviser and the client, in an environment where each party can only succeed and grow if the other parties also succeed and grow.
By educating customers through an award-winning financial education programme and offering our clients a loyalty programme, Continuum develops long-term relationships strongly endorsed though market leading Net Promoter Scores – most recent customer survey delivered a score of +90.
An in-house discretionary model portfolio service, My Continuum Wealth, was initiated in July 2021 to offer an exclusive MPS (Model Portfolio Service) to Continuum advisers.
Continuum now holds assets under influence in excess of £2.49 billion.
In December 2020 Continuum was awarded ESG kitemark (ESGmark) accreditation in recognition of its business approach of Environmental, Social Responsibility and Governance matters.
Continuum is a trading name of Continuum (Financial Services) LLP which is authorised and regulated by the Financial Conduct Authority. Continuum (Financial Services) LLP is a Limited Liability Partnership.
