Posted by: WealthIFA | February 17, 2012

Financial News Update we 17/02/2012

How has your week been?

Well the snow was almost as quick to disappear as it was to arrive – much to the disappointment of my children I would add… but now with a birthday weekend coming up for one of them, there is a shift in focus in our house anyway!

Aside from that it’s been a week of frustration for me, as I have been dogged by technology or rather my lack of understanding of it?!

As you may know, my time is split between our office locations in Tunbridge Wells and Orpington, so it has been frustrating because I rely on the ability to sync my phone with my laptops/pc to keep my contacts and diary up to date when I am out and about but, for some unknown reason, the calendar and contacts are being deleted each time I sync from one to the other or, if I am really lucky(?), I retain all the names listed in the contacts but am left with no numbers/emails… which is slightly annoying – especially if I am out and need to call someone!

The frustration is exemplified when speaking to our IT person, they are as confused as I am – “…but you are the expert?!..” I think to myself… but on reflection, this is not necessarily the case is it?

Experts specialize in one field or another and, just because someone can set up a network of computers, servers and so on, it does not necessarily make them the expert in why a particular mobile phone keeps misbehaving with said computers does it.

I should know better, after all, I have lost count of the number of times I am expected to know the answer to a question on any financially related topic, however tenuous the connection, because I am “in finance”.

Admittedly, my own mother was one of the worst for this misconception, regularly referring to me as the expert on her home or car insurance because “…that’s what you do isn’t it?…”

My expertise lies in the provision of advice to those approaching or at retirement and the financial concerns they may have so a question on which mortgage deal is suitable for someone for example, can sometimes leave me in a cold sweat.

Having decided to specialize in what I do, whilst I may have a better understanding than some on say mortgages, it would still take me some time to decipher the current market in order to find the most suitable solution for someone and that time, I imagine, would be greatly reduced by an expert in this particular field.

Instead, I opt to refer to someone I know deals with such things on a daily basis so my clients receive specialized and focused advice in that particular field – certainly saving them time and enhancing our own relationship – whilst I can continue advising in my specialist area.

This has taught me to appreciate that others may not necessarily understand what I do so I make it a point (as you may have noticed in previous updates!) to remind people on a regular basis… perseverance is a major part of my own personal mantra.

As for the phone issue, I think I have managed to resolve it but only time or the right expert will tell?!

Have a good weekend!

This Week …

Estate Planning

Step draws up draft inheritance tax clause for wills:
Gifting of property to avoid inheritance tax:
Legal case clarifies taxation of holiday lets in the UK:
RBS and Jefferies staff held as tax evasion investigation widens
ABS applications near 100-mark in first month

Long Term Care

Dorothy going strong at 110:
Why we need a commissioner for older people:


British pensions no longer gold standard:
A ticking time bomb?:
How will inflation affect your savings, pensions and bills?:
Higher-rate pensions tax relief could be axed in Budget


UK inflation rate falls to 3.6% in January
Bank of England says UK economy ‘to zigzag’ this year



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