As the summer beckons, unfortunately there are so many reasons for us all to be feeling the summertime blues. As if we didn’t have enough of a challenge in dealing with the impacts of the horrendous war in Ukraine, the aftermath of the Covid-19 pandemic is also still sending shockwaves around the world. And that’s without the climate crisis.
Our old enemy inflation is also packing a strong punch and in so many ways. Talk is also extending to both stagflation and even recession as concerns about the health of the global economy abound. Any lingering high spirits will have been extinguished by the worst cost of living crisis in decades.
In the UK, the announcement from the ONS that April’s CPI inflation had hit a massive 9%, a 40 year high, was certainly good cause for a sharp intake of breath. Whilst the inflation figure was roughly in line with expectations, some of the detail included in the ONS report made for very tough reading indeed: electricity prices have gone up by 53.3% in the year to April 2022, gas prices have risen by an eye-watering 95.5% over the twelve month period.
Mental Health Awareness
With so much going on, it’s no wonder that so many people are struggling with mental health these days – including right here in the financial advice profession. That’s why in May, IFA Magazine ran a powerful campaign to raise awareness of mental health challenges as well as to offer some practical ideas that you can use to support not only your own mental health, but that of your colleagues too. You’ll find all ourcoverage on https://ifamagazine.com/category/mental-health-2022/ – including an absolutely brilliant podcast where we spoke to the one and only Michelle Hoskin of Standards International. If you’ve not heard it, I’d strongly recommend it..
Advisers will be all too aware of expectations that we’ve not reached the inflationary peak yet and the prospect of double digit inflation looms large. All of this will impact clients’ financial plans and advisers will be busy reviewing projections in line with revised assumptions for clients’ expenditure and therefore income needs. It is not a pretty picture.
The business of financial planning
However, there are many more considerations for advisers, some of which you’ll find covered in the pages of this latest edition of IFA Magazine. Whether it’s the FCA’s new Consumer Duty rules, getting your business ready for a potential sale, dealing with vulnerable clients, intergenerational planning, sustainable
investing, lasting powers of attorney or many other relevant topics, you’ll find expert opinion, tips and ideas as you digest our content this month. We hope you find plenty to get you thinking about your business, what you do and how you do it.
Getting more social with our media
But don’t forget to keep up to date with all the latest news and views on www.IFAMagazine.com, and to follow us on Twitter and Linkedin. We’re now on Insta too!
And do check out our weekly podcasts too https://ifamagazine.com/category/podcasts/
See you there!