Cost of living pessimism could lead to client later-life planning 'inertia'

Five tips on how firms can look to boost client motivation

Jenna Brown
clock • 3 min read

Current economic conditions including the cost of living crisis could lead to short-term pessimism in clients that results in long-term financial planning inertia leading to poor outcomes, Ingenious has warned.

The specialist investment manager said the inertia - such as putting off proper estate planning - is compounded by the fact that this generation has not experienced such a dire set of economic circumstances for a long period of time. It added that putting off decisions can "severely impact" a positive outcome for clients and their families. The provider said that between April 2022 and January 2023, inheritance tax (IHT) receipts grew by almost 10%. House prices, it added, increased since the pandemic, "even if they have fallen marginally of late, and so more estates will creep above ...

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