With the sun shining upon Blackfriars Priory, we welcomed our guests to enjoy an insight into the changing face of financial planning, presented by guest speaker Tim Knight, Head of Investment Consultancy of St. James's Place.
After an introduction by Alex, Tim focused on topical matters including updates on financial markets, political events, UK demographics and global economic change describing how all of which may impact an individual's financial planning. Tim talked about intergenerational wealth management and how it is becoming an important financial planning consideration - medical advances and healthier lifestyles mean that people are generally living longer than ever, and life expectancy continues to rise. That's very welcome, but it demands that we rethink fundamental questions such as when we should retire and how to make our wealth last through an extended retirement.
Tim presented some facts in relation to the generational wealth gap in the UK explaining how members of the so-called baby boom generation, born in the two decades after the Second World War, have enjoyed the rapid growth which followed the war, with good, pensionable career opportunities, affordable (and later soaring) house prices and rising financial markets. Earlier generations are not enjoying these advantages on the same scale. Yet as they live longer, they face the prospect of costly long-term care.
It was a surprise to many and raised questions when Tim outlined those in the 30's and 40's are now fundamentally significantly worse off than those a generation before them, facing a very different economic reality, characterised by stagnant economic and income growth, student debt, youth unemployment and spiraling house prices..
Following the presentations, Andrina was greeted with some great interaction for the attendees asking all manner of questions and the room was then ours to converse and relax in.
Feedback from those who attended has been very positive and many agreeing they'd be speaking with family members old and young to highlight some of the points covered
Date: Friday 24th March 2017
Venue: Blackfriars Priory, Ladybellegate St, Gloucester GL1 2HS
3.00pm Refreshments on Arrival
3.30pm Introduction: Alex Kell, Quayside Wealth Management
3.45pm Guest Speaker: Tim Knight, St. James's Place Wealth Management
4.30pm Summary and Question: Andrina Nisbet, Quayside Wealth Management
4.45pm Refreshments and Close