I’m immensely proud of what I do as a profession.  We provide our clients with the peace of mind knowing that their hard earned money is being managed professionally, protect families and help individuals have a happier retirement by helping them understand the importance of saving for this as early as possible.  As a financial planner I can make a clear and fundamental difference to my clients financial futures…that’s an amazing privilege and one I take incredibly seriously.

I’m also proud to have met some of the great people who work in our profession, both fellow professionals and, more importantly, the teams who support us.  I’ve learnt and continue to learn from other financial planners who continue to innovate in our business, share best practice and move our profession forward.

However there is no denying, like any industry or profession, there have been a few ‘bad apples’ in the mix which has tarnished the reputation of our business.  Unfortunately these individuals and businesses tend to get far more exposure than the businesses out there who are doing the right thing for their clients each and every time.

There are two aspects of this which interest me.  It could be argued that the mistrust of anyone broadly associated with ‘financial services’ has generated an apathy which means that the ‘general public’ do not take the required action to protect their families and save for their future financial security.  This apathy means that there will be less individuals saving for their financial futures and protecting their families when they should be….and this can’t be good!

However, it could also be argued that highlighting the “bad apples” will mean that, when looking for advice, individuals will take more time ensuring that the adviser they work with will be professional, committed to achieve their financial goals and works in an open, honest and transparent way.  The good news is that the power of the internet makes this research process far easier than it used to be and if you are looking for a financial planner I’d recommend that you use these tools at your fingertips which allow you to find someone you trust to help with your financial goals.

So, there is more apathy (which isn’t good for anyone) and more focus on ensuring shoddy advice is avoided (which is good for everyone apart from ‘bad apple’ advisers).  I’d suggest that whilst it’s easier for anyone to be apathetic, it’s smarter to take action in relation to your financial goals.  You may decide that you want to ‘self serve’ and conduct the research required to achieve your goals yourself or alternatively use the services of a professional to help you.  Either way, I firmly believe taking action to get where you feel you need to be has to be a far smarter approach than ignoring the issue.

My concern is that it seems that, generally speaking, there is more apathy than awareness.     However, as ever, I’m open to your opinions…what do you think?