Retirement Planning

The Covid financial pinch

Beyond the obvious and tragic consequences of the global pandemic, another pervasive impact has hurt millions throughout this crisis. According to a recent survey from the FCA, Covid-19 has resulted in a huge financial pinch for a majority of Brits. The Financial Lives Survey, which took a deep dive into the financial security of the nation, revealed that some 52% of UK residents could be considered financially vulnerable – which equates to over 27 million people. What’s more, in the month of October 2020 alone, around a third (nearly 16 million people) said they expected their household income to fall, and more worryingly still some 13.2 million people worried they would not be able to make ends meet.

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Standards and Safeguards Continue to Evolve

What’s the best sign of a buoyant market? It can’t always come down to the bottom line and cold hard turnover and takings. For me, one of the best signs that a market is doing particularly well is nothing to do with the figures, and more to do with something a little more nuanced. Namely, how many eyeballs and how much scrutiny is on everything you do. Or, to put it another way, how many standards and safeguards are in place to ensure that your customers only ever get the best of the best.

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