The great Muhammad Ali didn’t just rely on those lightning jabs and will-o’-the-wisp feet to make him the best boxer the world has ever seen. He also had the equally inspired Angelo Dundee by his side.
It was Angelo who massaged Ali’s aching shoulders between rounds, applied the liniment and delivered exhortations to audacity and endeavour.
It’s that kind of inspirational encouragement IFAs will have to summon up this summer as savers seek salvation from the footling returns offered by the latest clutch of ISAs (although forget the shoulder massage and liniment – your clients could get the wrong idea).
In particular, what do you say to the couple in their 60s, who have managed to tuck away a few quid to invest in this year’s ISAs, but whose attitude to risk is akin to that of the Cowardly Lion en route to Oz?
Facing the prospect of sub-2 percent returns from a Cash ISA, they could be persuaded to step onto the giddy carousel that is a Stocks and Share ISA, in the hope that returns should at least keep ahead of inflation.
However, given that cautious investors are precisely that – cautious – then methinks IFAs are going to have their work cut out.