Creating certainty in a post-Brexit environment

Nobody likes to feel unsure or unsafe. We like security. We like to feel protected and at present I think very few people - whether they were part of the Remain or the Leave camp - will say they do.

Yet, for a people which clearly dislikes feeling vulnerable and uncertain, we certainly allow ourselves to be put in this position a lot. I’m referring to our attitude towards protection products.

Too many homeowners in the UK have insufficient, poor quality home insurance. Many took out policies suggested via comparison sites which are in no way suited to their needs. Others cut corners by opting for the cheapest of policies regardless of whether they offered anything near the level of protection required. Others have let their policies renew without seeking advice on finding a new one - even though there are much better policies on offer.

The same applies for Mortgage Payment Protection Insurance. Far too many borrowers have no protection in place should they lose their job or become unable to work. They are leaving themselves wide open to financial hardship when it is completely unnecessary.

I would assume that as learned financial advisers you understand the importance of protection and as a result have the right policies in place for your home and your income (if not you may need to question your career choice!). But you must convey this importance to your clients too.

Nobody like feeling vulnerable. There’s a lot we can’t change but in the areas where we can make a difference, let’s make sure we do.