continuum Archives | International Adviser

Chartered Fellow joins Continuum financial advice team

Mark Battersby — Thu, 12 Dec 2024 12:27:47 +0000

James Herbert, Chartered Fellow of the CII, has joined national financial advice firm Continuum as a financial adviser.

Herbert specialises in planning for investments, pensions, estate planning and protection for a wide range of individuals. He is based in Stoke on Trent and serves the wider Staffordshire region.

A chartered financial planner, James joins the partnership from Amber River True Bearing. He also spent over 13 years at Atomos Wealth where he was wealth planning director.

He chose to join the Continuum team due to the resources the partnership can provide whilst maintaining independence.

He said: “Administrative and compliance teams take care of some of the routine details, giving me more time to spend with clients. And facilities like the Online portal, Perks@Work, and the weekly updates and news items to build clients knowledge and understanding of what I can do for them.

“With Continuum there is no pressure on me to push the products of a particular supplier. Instead I can give honest advice and access the very latest products from across the industry. I can always develop the very best solution for clients – and I can search the entire financial market to find the products which deliver it.”

Herbert believes that the recent Budget has provided opportunities for retirement-specialist financial advisers to expand their client book.

He said: “People need to make the most of the potential of a pension, and they need to invest to build wealth. They need to think about their own futures, and those of their loved ones, which includes finding ways to preserve wealth, and ensure that the taxman will not be taking too much in inheritance tax.

“The Budget has meant that many people will need to take a fresh look at our investment and retirement plans, and as an independent financial advisor, I am in the best position to provide the help they need.”

James’ appointment closely follows a number of other new joiners to the partnership, including Head of Compliance Rob Fardey.

Fardey joined the partnership in September where he is for ensuring that Continuum continues to meet its regulatory obligations, aligns with industry best practices, and upholds the highest standards of client service and transparency.

With over 27 years of expertise in compliance management and strategic oversight, Rob has a proven track record of fostering regulatory excellence and embedding robust compliance cultures within complex financial institutions.

He joined the partnership from SimplyBiz where he was Director of Compliance Services. Other previous roles include senior compliance management positions at notable firms, including Quilter, Deutsche Bank, Investec, and Rathbones.

Northern Irish ‘least confident’ in later life finances

Editorial Staff — Thu, 10 Oct 2024 08:49:45 +0000

Northern Irish savers are the least confident that they will be able to have financial freedom in retirement, according to new data released by national advice firm Continuum.

Over half (51%) of Northern Irish adults surveyed said they are not confident that they will be able to have financial freedom in retirement.

Savers from Scotland and the East of England were also concerned about later life finances, with 50% of those surveyed saying they were not confident that they will be able to have financial freedom in retirement.

The most confident savers were those from London (42%) and the South (43%) of England.

How confident are you that you will be able to have financial freedom in retirement?

	North	Midlands	East	London	South	Wales	Scotland	Northern Ireland
Confident	42%	44%	42%	47%	43%	43%	43%	42%
Not confident	48%	46%	50%	42%	43%	47%	50%	51%
Unsure	10%	10%	8%	11%	14%	11%	7%	7%

Source: Survey of 2067 adults by YouGov on behalf of Continuum.

Despite being the most concerned about retirement finances, Northern Irish savers were by far the least likely to be concerned about maintaining their current lifestyle. They were also the least likely to be concerned about supporting family members.

They were, however, amongst the most likely to be concerned about the costs of healthcare in retirement, with 21% saying this was something they are concerned about. This is more than twice the number of Londoners who shared this as being a concern.

Ben Alcock, Chartered Financial Planner in Continuum, warned that Continuum’s new research demonstrates how Northern Irish savers are seriously worried about healthcare costs.

He said: “Despite 81% of Brits telling us that maintaining their current lifestyle in retirement is important to them, only 8% of Northern Irish savers said this was one of their main concerns when it comes to their later life finances. This suggests that despite wanting to maintain their current lifestyle, other worries such as being able to pay for healthcare seem far more pressing.

What are your biggest financial concerns for retirement?

	North	Midlands	East	London	South	Wales	Scotland	Northern Ireland
Outliving my savings	22%	18%	15%	25%	20%	7%	17%	11%
Healthcare costs	10%	12%	13%	10%	14%	21%	6%	21%
Not being able to maintain current lifestyle	32%	32%	37%	32%	29%	37%	34%	8%
Supporting family members	7%	8%	10%	8%	12%	5%	3%	2%
No concerns	14%	18%	14%	12%	14%	15%	15%	25%

Source: Survey of 2067 adults by YouGov on behalf of Continuum.

Perhaps reflecting their concerns, consumers from Northern Ireland were also some of the most likely to have sought some form of advice around their retirement finances. Over half (52%) had sought advice from someone about their retirement finances, with 15% having sought the services of a financial adviser.

However, savers from London and the East of England where consumers were most confident in their later life finances, were also some of the most likely to have sought advice. Over half (52%) of Londoners had reached out to someone for advice around their retirement finances, with 9% having used a financial adviser. Half of those in the East of England had turned to someone for advice, with 13% having used a financial adviser.

Which has been your main source of financial advice for planning your retirement?

	North	Midlands	East	London	South	Wales	Scotland	Northern Ireland
Financial adviser	13%	17%	13%	9%	19%	7%	18%	15%
Online resources	15%	11%	10%	15%	15%	9%	12%	15%
Friends and family	8%	6%	10%	12%	8%	9%	5%	9%
Colleagues/employer	8%	8%	10%	7%	9%	5%	8%	10%
Books/magazines	1%	1%	0%	1%	1%	2%	1%	0%
Other	2%	4%	4%	4%	2%	6%	2%	0%
Not sought advice	51%	50%	50%	52%	42%	62%	54%	52%

Source: Survey of 2067 adults by YouGov on behalf of Continuum.

Ben Alcock, warned that not seeking professional financial advice could have serious consequences for many Brits lifestyles in later life.

He said: “There is a misconception amongst UK savers that financial advice is only for the wealthy, but this is not the case. Many Brits on average incomes could benefit from taking professional financial advice, especially when it comes to retirement planning.

“A discussion with a financial adviser can help you evaluate what you want your future to be and guide you towards it. They can also help put you in control of your finances, be able to cope with financial shocks, and provide financial options that adapt to life’s challenges and provide clarity and security for the ones we leave behind.”

It is also important for savers not to put off taking advice until they are nearing retirement.

Ben Alcock said: “Retirement may seem like a long way away in your 20s and 30s, with saving for later life rarely making it onto the top of your priority list. But starting saving sooner rather than later can really pay off.

“A good financial adviser can help you look past your short and mid-term savings goals and look at the wider picture, but our research shows that very few Brits are consulting a financial adviser about their retirement plans until it is just around the corner, with four times as many over the age of 55 (21%) having taken advice than those between the age of 35 and 44 (5%).

“By waiting to take professional advice until the age of 55 Brits will already have missed many opportunities to boost their savings and may find they have to make lifestyle compromises in retirement as a result.

“Pensions are designed to be a long-term investment and are likely to be the longest investment you make in your lifetime. The earlier you start saving, the more time your investments have to grow.

“Most employers will also top up anything you add into a workplace pension so it makes sense to make the most of the opportunities they offer. The government also offers tax relief on pension contributions which can help cut your total tax bill whilst boosting your retirement savings.”

All figures, unless otherwise stated, were from YouGov Plc. Total sample size was 2067 adults. Fieldwork was undertaken between 28th – 30th June 2024. The survey was carried out online on behalf of Continuum. The figures have been weighted and are representative of all UK adults (aged 18+).

Advice firms only as strong as their back-office, says Continuum

Editorial Staff — Thu, 12 Sep 2024 14:00:14 +0000

As paraplanners across the UK take time out to attend today’s (12 September) Paraplanners Assembly Big Day Out, national financial advice firm Continuum has reminded advice firms that without a great back-office team even the best team of advisers can only achieve so much.

In a statement, the advice group said building a strong back-office team can often be overlooked by advice businesses that are looking to grow quickly, but advisers need to make sure they build a strong back-office team if they are to be able to support continued growth.

Continuum said it has grown quickly but has only managed to do so due to the support of its strong back-office team.

Martin Brown, managing partner at Continuum, said financial advice firms need to work hard to not just build up a good Paraplanning and administration team, but also to make them feel valued.

He said: “When running a rapidly growing advice firm it can be too easy to focus solely on recruiting advisers and finding new clients. But without a strong back-office and Paraplanning team the quality of client service would quickly drop

“Not only do Paraplanners free up as much of the financial advisers’ time as possible so they can concentrate on what they do best, but an experienced Paraplanner can also add their own unique in-depth technical expertise as well as meticulous attention to detail which can help reassure both client and adviser.

“At Continuum company culture is central to our business. Our people-first culture is what enables our team to strive for an outstanding client experience with every interaction. We have worked hard to create a culture where the client, advisers, back-office staff, and the business are of equal importance. For this to work each party must feel engaged and that the business acts as one.”