Financial wellbeing: helping you be financially confident and in control

04/02/2022 / Liberty news

Money is never far from our minds. Sat at our desk, or in the middle of the night, we find ourselves thinking. ‘Will I ever be able to retire?’ Or ‘what if I need money fast to cover a medical bill?’

According to research from the Money and Pensions Service’s (MaPS) Financial Wellbeing Survey 20211, a staggering 24 million of us feel ‘financially vulnerable’.

What do we do if we don’t know what to do? We turn to people we think know more than us, our friends or family. Or we Google it.

Suddenly, you’ve got information overload. Do the authors know what they’re talking about – could their advice leave you worse off, not better? What if it’s actually a scam?

Faced with 20 answers, not just one, many of us do nothing. Feeling that you’re not in control of your finances is like the floor dropping from under you. The effect on our financial wellbeing is undeniable.

Worrying ourselves round in circles

Nowadays, especially post-pandemic, information overload has made our lives more complicated, not less.

According to Alex Loydon, SJP’s Director of Partner Engagement and Consultancy: “The access to information is both an advantage, and a disadvantage. Access has changed, but the complexity of finance hasn’t. Sometimes the more we know, the worse it gets. Anxiety levels go up – and confidence drops.”

Getting an expert in your corner

The sale proceeds of almost any personal possession can be subject to CGT, from shares and investments to buy-to-let properties, holiday homes, jewellery, fine wine,

“My SJP adviser took plenty of time to get to know me and understand my aspirations – at a time of great change in my life. He is here to help and support us, not for the hard sell.” 
VouchedFor review, Jan 2022

Talking to experts who can explain the complexities of finance and simplify your choices is the first step towards feeling confident, capable and in control.

Confidence is central to financial wellbeing. It’s not just knowing what an interest rate is, or the different sorts of ISAs. It’s an awareness of your own financial situation; how much money you have, how much you spend, or how much you need to retire on.

Explaining and answering those questions and creating a personal plan to match is what advice is all about.

“My SJP adviser provides great intel and helps me to understand it, which at times isn’t easy (for me that is). The decisions are ultimately mine to make, but it’s comforting to have him to discuss these ideas with, rather than spend my time researching a minefield of intel.” 
VouchedFor review, Jan 2022

Talking things through

There’s nothing like talking things over face-to-face. It boosts your financial confidence, it makes complex choices clearer, and decision-making simpler.

Because we build long-term, personal relationships, our clients feel safe sharing personal information. Having a clear, detailed road map towards a secure financial future is a real relief.

You can finally put the worries to bed.

The true value of financial wellbeing

Our role is to give you the confidence to create the future you want. And then, to relax and enjoy it.

As Harriet Shepherd, Marketing Propositions Manager at SJP, says: ”We’re putting you in the driving seat and ourselves alongside you. Empowered, capable, confident. We want financial decision-making to feel simple and satisfying, in an overwhelmingly complex field.”

The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.

1 24 million UK adults don’t feel confident managing their money, Money and Pensions Service, November 2021, 10,000 people surveyed

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