Related Articles
Good morning and welcome to your Morning Briefing for Friday 18 May, 2023. To get this in your inbox every morning click here.
Clients think ESG matters
Most consumers think at least one aspect of environmental, social and governance (ESG) criteria is “important”.
Net Purpose chief executive and founder Samantha Duncan said this at Timeline’s Adviser 3.0 Changing Agents conference (18 May), that 94% of consumers believe at least one part of ESG is worthwhile.
Duncan said that ESG measures financial risk and not sustainability and that it has only been in the past year that people have started to realise this.
She also added that Net Purpose is seeing a big demand from the world for positive changes and that one customer type of the firm is asset managers.
Taking the leap from science to financial advice
Scientist Ryan Sharpe explains why she turned her back on science to become an adviser.
“I am just over six weeks in to my first role in the financial services industry, as a junior paraplanner.
“I had known for a few years that a career in research wasn’t for me. While there were a number of things I liked about it, including collaborating with a wide diversity of people and being involved at the cutting edge of science, these didn’t outweigh the things I didn’t enjoy.”
Quote Of The Day
The news that Royal Mail’s financial results are sliding is not surprising given the last 12 months the business has had. Royal Mail’s reputation has been hampered by industrial action, a cyber-attack and unpredictable demand.
– Philip Ashton,CEO of 7bridges,commenting on Royal Mail poor performance after it reported a £1bn loss as customers looked elsewhere for delivery services because of the disruptions.
Stat Attack
New research from Phoenix Insights has found that midlifers are ‘stuck’ feeling underprepared and unequipped to make beneficial career moves which could keep them more fulfilled in the workforce for longer, risking thousands more retiring prematurely and exacerbating economic inactivity amongst the over 50s.
33%
A third (33%) of 45 to 54-year-olds expect to change career before they retire, yet new research conducted by Ipsos on behalf of Phoenix Insights has shown this group is over
60%
more likely than 35 to 44-year-olds to have not taken actions related to their career in last six months (48% vs 30%) and just
15%
of this age group have received careers advice in the last three years.
Out of 3,345
UK adults surveyed as part of the Career Advice for Longer Lives report,
42%
two-fifths (42%) of those working aged 45 to 54 have been in their current main job for 11 years or over.
30%
Three in 10 (30%) of all midlifers disagreed that they have a clear plan for the rest of the time they spend working until they retire, rising to over a third of women in this age group (34%).
Source: Phoenix Insights
In Other News
Independent pensions, investments, and employee benefits consultancy Broadstone has appointed Jeremy Clack as senior actuarial director.
Clack has almost 20 years’ experience advising trustees and corporates across schemes ranging between £50 million and £5 billion. He has advised across a wide variety of funding levels, investment strategies, sponsor ownership structures and covenants as well as across different industries. He joins Broadstone from Willis Towers Watson where he has spent the majority of his career.
In his new role at the Redditch office, Clack has taken on a portfolio of Scheme Actuary clients and will sit on Broadstone’s National Strategic Committee to drive the continued growth of the Group’s Consulting & Actuarial business. He will also provide input on developing Broadstone’s rapidly growing proposition strategy.
Broadstone head of consulting & actuarial Nigel Jones said: “Jeremy is another industry heavyweight joining the team with great experience in the sector. We are excited to gain from his expert insight both across our wide range of clients, and as Broadstone pursues further commercial growth.”
From Elsewhere
The Sunday Times Rich List 2023 revealed (The Times)
Artificial intelligence to hit workplace ‘like a freight train’, energy boss warns (Sky News)
Japan’s Nikkei powers to 1990 ‘bubble’ era high (Reuters)
Did You See?
Chris Gilchrist swansong essay on his 50 years in financial services. The veteran financial adviser, who started out in 1974, wrote:
“I shall miss the challenge of persuading people to invest sensibly, while constantly redefining what ‘sensibly’ means.
“I’m sure I will struggle to stop looking at markets and the value of my investments more often than I ought to. And I shall miss the many people who proved that money and fun could go together.”
Read the full article here.
