Ken Davy: To deal with the upcoming demand for advice we must learn from the past

In 1974, following two years of falling values, the UK stock market had collapsed by almost 75%, with commercial property not far behind. Catastrophic as this was, inflation made its impact even worse, resulting in the average portfolio falling 90% in real terms over the 73/74 period. As I had only become a financial adviser at the end of 1970, this cataclysmic decline taught me some valuable lessons about the fragility of investment markets, along with the vital importance of building and keeping strong client relationships. Indeed, throughout this traumatic time I hardly lost any of my...