The new Labour Government has just unveiled their first Budget, and we saw this as the perfect opportunity to catch up with Jason Smith, a financial adviser at Sage Wealth Management, to explore how he's helping clients navigate the changes ahead.
How are you working with your clients to navigate the changing financial landscape?
At Sage Wealth Management, we provide tailored, one-to-one financial advice, so when any changes come into force, we first assess which clients’ financial plans might be affected, and then schedule face-to-face or phone consultations. It’s important that we’re able to discuss any changes and how they could impact their goals, and what adjustments we can make to keep them on track toward their desired financial futures.
The financial landscape is evolving rapidly. With an ageing population, pension funds need to last longer, and rising healthcare costs make planning even more critical. Coupled with increasing living costs and tax burdens, these factors especially affect older clients who want to pass on wealth efficiently. Meanwhile, younger generations are often exposed to high-risk investment schemes via social media, making it more important than ever to seek reputable, professional advice.
In this environment, accessible, one-to-one financial guidance is essential. It’s about striking the right balance between enjoying the present and planning for the future. For me, that often begins with a good cup of Italian coffee and a meaningful conversation!
Should employers be doing more to help employees with financial planning?
In an ideal world, yesalong with schools and colleges. Imagine young people entering the workforce with knowledge about budgeting, mortgages, investing, and understanding risk versus reward. Unfortunately, in many industries, the focus is on targets and cash flow, leaving little time for structured financial education. As a result, employees often only address their situation in times of stress, not only affecting their own mental wellbeing, but level of productivity and absenteeism in the workplace.
How do you help bridge this advice gap?
I deliver Financial Wellbeing in the Workplace programmes, spending time in companies talking with teams about financial planning. These workshops are tailored to the needs of the employees, no matter their role, with individual appointments offered thereafter, to employees who have identified a requirements for financial advice.
Tell us about your move to financial advising
I’ve always had an interest in financial planning, and during my time as a Senior Manager in the motor trade, I noticed a significant advice gap. The fast pace of the industry, driven by acquisitions, often left employees unprepared for unexpected changes. Many relied on auto-enrolment pensions without fully reviewing their investments.
Seeing the need for better financial guidance, I decided to pursue a career that aligned with my passion for financial planning, and made the transition to Sage Wealth Management, which has been providing financial advice for over 15 years, helping clients from all walks of life achieve their financial goals.
What I enjoy most about my role is building personal connections with clients, understanding their goals, and offering advice that fits their unique circumstances. I often share my own interests during meetingswhether it’s talking about family time with my two Labradors or my passion for music, having played guitar and written music since I was young.
These shared moments help me build genuine relationships and provide personalised advice.
What are your top five financial tips for getting started?
1. Live within your means – Spending less than you earn is the foundation of financial planning.
2. Invest wisely – Put your surplus to work by seeking professional, trusted advice.
3. Build an emergency fund – Be prepared for life’s unexpected challenges by setting aside funds for unforeseen expenses.
4. Protect your most valuable asset-yourself – Ensure you have adequate insurance in place to secure your and your families financial future.
5. Start early – The sooner you begin, the more time your investments have to grow. Time is your greatest financial ally.
For a coffee, conversation and to understand how the Autumn Budget affects your financial plans, reach out to Jason Smith on 07369 228896 – sagewm.co.uk
The value of an investment with St. James’s Place will be directly linked to the performance of the funds selected and may fall as well as rise. You may get back less than the amount invested.
Sage Wealth Management Ltd is an Appointed Representative of and represents only St. James’s Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority) for the purpose of advising solely on the group’s wealth management products and services, more details of which are set out on the group’s website www.sjp.co.uk/products.
The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives.
SJP Approved 15/10/2024