This episode of the Informed Choice podcast is a review of the year before looking at goals for 2016, and talking about setting and sticking to personal finance resolutions.
There’s also a roundup of the latest news from the world of personal finance and investing.
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-Average house prices rose strongly in December, according to the latest survey from lender Nationwide.
-The Financial Services Compensation Scheme (FSCS) is reminding savers about new rules coming into force on 1st of January, which will reduce compensation to £75,000 per person, per institution.
-The Chartered Institute of Personnel Development is warning that wage growth is likely to fall short of Bank of England expectations next year. Employers are due to hold back on pay rises as a result of growing costs.
-In another set of forecasts, the head of the International Monetary Fund, Christine Lagarde has said that global economic growth will be “disappointing and patchy” in 2016.
Main topics
This episode of the Informed Choice Podcast is all about a review of 2015 and setting goals for 2016.
Martin starts by recapping on another excellent year for Informed Choice.
It was a record year for business revenue, with operating revenue up by 34.4% on 2015. Martin explains this is a result of the new pension freedoms introduced in April, a growing number of post-war baby boomers reaching retirement age and a continued focus on raising our visibility with clients and contacts in Cranleigh.
He also talks about the over 100 national press mentions for Informed Choice in 2015, Nick speaking at the Personal Finance Society National Financial Planning Symposiums and appearing alongside MoneySavingExpert’s Martin Lewis in an FCA video about customer vulnerability.
Martin was named Dynamic Planner of the Year 2015. He was also shortlisted for Social Media Adviser of the Year at the Unbiased Media Awards 2015 and Informed Choice was a finalist for Best Retirement Adviser at the Money Marketing Awards 2015.
We grew our team, with Andy Bodman, Viv Lee and Chris Hand all joining the Informed Choice family so we can provide even better service and support to our clients.
There were some new titles this year, with Martin and Shelley both becoming Chartered Wealth Managers following the merger of the Institute of Financial Planning (IFP) with the Chartered Institute for Securities and Investments (CISI). Martin also became an Accredited Later Life Adviser with SOLLA.
On a personal perspective, Martin reflects on his wedding in the summer, a couple of running races, a new pet and meeting HRH The Countess of Wessex.
Looking ahead to 2016, Martin shares his big goal which is to get back into running, with a deferred ballot entry in the London Marathon.
From a business perspective, Martin talks about ambitious revenue targets, implementing a new back office system and focusing on the later life advice market.
What about your New Year’s Resolutions? After health and wellbeing, personal finances are the second most popular resolutions in January.
Martin shares some great tips for making resolutions stick – breaking big goals down into small steps, setting SMART goals, finding an accountability buddy and setting positive goals.
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