He added the process of advising in this space, especially for wealthier clients, would evolve into a more holistic model and, perhaps echoing the concerns over property investment, said in the first instance the consideration should be on the tax position, not eventual investments.
This would involve delving into the full client “balance sheet” and the position for the family in the foreseeable future, which would “take a minimum of three conversations on average” before recommendations were being made.
Discussing potentially solutions, he said there would be a rush for alternative “low-risk income solutions” that avoided the “reckless conservativism” that some have suggested typify fixed income portfolios in the current market.
ashley.wassall@ft.com
