Deb Nolan - why financial advisers should explain risks & rewards of investing

Thursday 28 July, 2016

Deb Nolan, independent financial adviser, Lonsdale Services, Leeds comments on the importance of explaining the risks & rewards of investing before providing financial advice.

A recent study conducted by Britain Thinks on behalf of FT Money asked 2,000 women and men about money and investing.  They found forty per cent of women described themselves as ‘less knowledgeable about investing compared with others,’ for men this figure was thirty per cent.

Deb Nolan, Independent Financial Adviser, Lonsdale Services Leeds said: 

‘Financial Advisers have a responsibility to educate clients as well as offering financial advice.  This is our view at Lonsdale Services.  We do get both male and female clients who do not fully understand the concept of risk when they meet with us for the first time. They may be risk averse and lack the confidence to invest in equity based products.  We have a responsibility to fully explain to clients, the risks and rewards attached to different investments.  My experience is that once clients do fully understand they begin to realise the importance of incorporating investments into their portfolio. 

I would encourage more women to become qualified independent financial advisers.  I don’t often have clients approach me just because I am female, but I often find that clients actually prefer dealing with a female financial adviser.  At Lonsdale Services over half of our employees are female, and many have spent their whole career working in financial services.  Many are administrators working alongside our financial advisers but they may also have studied for investment qualifications.  

Tracy Gannon, Lonsdale Services administrator, Leeds who was previously a FPC qualified financial adviser, is my personal assistant at the Leeds office. Her experience and knowledge gained has proved invaluable when dealing with the administrative needs of my clients.’

Educating our clients - News series

This news article is part of our 'educating our clients' news series.  For further information read - Deb Nolan, independent financial adviser, Leeds - 'Financial Advisers have a responsibility to educate before offering advice, and Neil Homer, independent financial adviser Stafford - Lonsdale IFA's offer free services to help people with financial planning and 'Our independent financial advisers help educate on financial planning.'

 

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