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It’s one of the more disorientating moments in a long-term financial relationship: the adviser you’ve trusted for years, who knew your circumstances, your goals, maybe even your family – retires, and you’re handed over to someone new.
It’s an easy trap for any investment firm to fall into: build one well-performing model portfolio, and put every client into some version of it. It’s efficient. It’s scalable. And it largely ignores the fact that no two clients have the same circumstances, goals, timeline or attitude to risk.
For many couples, financial matters quietly become one person’s responsibility – pensions, ISAs, investment decisions, who to call when something needs reviewing. It works well, right up until it doesn’t: