RBS is to close 32 Natwest branches including the loss of 550 customer facing roles. In the past, we have reported on the job cuts affecting financial services when commission based investment advice was stopped at the end of 2012.
It is now virtually impossible to get independent financial advice at any UK retail bank. These new job cuts will affect staff giving advice on savings accounts, mortgages, loans and other similar services and would appear to be further evidence that we are moving away from the traditional ‘personal touch’ to a faceless internet based service – ‘There’s an app for that!’
This removes any opportunity for discussion. This may not be so important when paying into a deposit account, but discussion plays a vital role in the services which Mantle Financial Planning provides. It is normal for a discussion to take place when talking about investment risk, accessibility, levels of investment etc, and ‘discussion’ correctly implies that there is two way communication between us and our clients. We do not tell you what to do or what level of risk you should take.
Our recommendations are based on a thorough review of your needs and making sure that our proposals meet them as much as possible – although we occasionally have to tone down any expectation on investment growth now that we live in a low inflation economy.
At Mantle Financial Planning, we get to understand your requirements and objectives, we discuss them with you and then we build a strategy that will help you achieve them.
We are here to help you shape your plans for the future; you don’t get that from an app!
If you would like more information on the above article or advice on your personal financial circumstances, please contact us >>