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 ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Adviser tips

Editor's View: The week we have all been waiting for...manifestos!

Editor's View: The week we have all been waiting for...manifestos!

The editor's Friday Night Takeaway from 14 June

Hope Coumbe
clock 14 June 2024 • 1 min read
Deputy Editor's View: Will technology truly bridge the advice gap?

Deputy Editor's View: Will technology truly bridge the advice gap?

The deputy editor's Friday Night Takeaway from 7 June

Jenna Brown
clock 07 June 2024 • 1 min read
Everything clients need to know about the 'Bank of Mum and Dad'

Everything clients need to know about the 'Bank of Mum and Dad'

Lawyer John E Jones explores the issues clients may face when acting as the 'Bank of Mum and Dad'...

John E Jones
clock 04 June 2024 • 4 min read