Podcast Summary
Small businesses can find untapped talent on LinkedIn: LinkedIn is a valuable resource for small businesses to find potential hires outside of those actively seeking new roles. Over 70% of LinkedIn users don't visit other job sites, increasing the chances of discovering top talent.
Small businesses missing out on potential hires by not utilizing LinkedIn for job postings. LinkedIn hosts professionals who aren't actively seeking new roles but could be open to the right opportunity. Over 70% of LinkedIn users don't visit other leading job sites, making it a valuable resource for finding top talent. Additionally, the Financial Times podcast discussed the trend of employees transferring their savings from employer pension schemes to personal pension arrangements. While employers offer incentives to encourage these transfers, the Financial Services Authority (FSA) is concerned about the advisability of these moves. Final salary schemes, also known as defined benefit schemes, offer unique benefits like inflation linking and spousal benefits, making them valuable long-term investments. It's essential for individuals to consider these factors before making a decision.
FSA concerns over unsuitable advice for final salary pension transfers: The FSA has raised concerns about advisers promising high transfer rates and using outdated data to undervalue final salary pensions, potentially leading to unsuitable advice for individuals.
Final salary pensions offer significant benefits that are difficult to replicate, and for most people, it is not in their best interest to give up these pensions. However, there are certain situations where it may be beneficial to do so. The Financial Services Authority (FSA) has raised concerns about advisers who may not be acting in the best interest of their clients when assessing whether to transfer out of a final salary pension. Some advisers may be securing business by promising high transfer rates, creating a conflict of interest. The FSA is also concerned that the outdated data and assumptions used in these assessments are undervaluing the value of final salary pensions, potentially leading to unsuitable advice for individuals. The FSA is taking steps to address these issues, and the introduction of new measures may mean fewer people will choose to transfer out of their final salary pensions. Ultimately, it is important for individuals to carefully consider their options and seek independent, impartial advice before making a decision about their pension.
Partnerships and installation of NFC readers are driving mobile payments forward, but it will still take time before they become the norm.: Visa and Vodafone partnership, NFC reader installations, and a push towards a cashless society are progressing mobile payments, but it will take time for them to replace traditional cash and card payments.
While mobile phone payments using NFC technology are becoming more prevalent, it will still take some time before they completely replace traditional cash and card payments. Visa's partnership with Vodafone is a step in the right direction, but the entire ecosystem, including retailers, payment organizations, banks, and telcos, needs to work together seamlessly for mobile payments to become the norm. The installation of NFC readers in shops is increasing, but it's a long replacement cycle, and retailers are making these investments at their own pace. The industry is trying to resolve the "chicken and egg" situation where retailers want customers to use mobile payments, but customers only will if they know there's a reader available. The supply side conundrum is being addressed with a concerted push from all stakeholders, and the compelling scenario of being able to pay for small items with just a flick of the phone is driving this push towards a cashless society. However, it will still take time before mobile payments become the dominant form of payment.
Mobile Payments: Convenience vs. Risks: Mobile payments offer convenience but raise privacy, security, and financial risks. Focus on long-term growth investments instead of chasing fads.
Mobile payments offer the convenience of receiving location-based discounts, but raise concerns around privacy, security, and potential financial risks. While mobile payments may provide short-term cash flow through dividends, wealth managers advise against chasing investment fads and instead suggest focusing on steady long-term growth holdings. The integration of mobile payments requires significant time and effort, and the use of these systems by large tech companies for advertising purposes raises privacy concerns. Security concerns include the potential for financial loss if a phone is stolen, and the retrieval process for a digital wallet is similar to that of a physical one. However, the current economic climate has led many investors to prioritize short-term income through dividends, and global growth funds can offer strong, steady returns over the long term. It's essential to carefully consider the potential risks and benefits before adopting mobile payments or making investment decisions.
Average return of global growth funds vs. emerging market funds: Global growth funds offer higher returns but more risk than emerging market funds. Selecting the right growth fund is crucial for long-term investment success.
Global growth funds, on average, returned £1,499 over 10 years on an original investment of £1,000. However, this number can vary greatly depending on the specific fund. Some global growth funds, like the M&G Global Basics Fund, have returned more than emerging market funds, such as £3,369 in the same time frame. These funds offer higher returns but come with more risk. It's crucial to carefully select the funds within the growth sector, as the better ones can compete with top-performing funds in the emerging market sector. However, growth funds do not focus on dividends, which some argue are essential for market growth. Instead, they invest in companies with long-term growth potential, such as utilities, energy, consumer goods, transportation, pharmaceuticals, chemicals, and cosmetics. Unlike emerging markets, where gains and losses can be significant, growth funds offer more stability. It's essential to work with a wealth manager to help navigate the vast array of options and find the best fit for your investment goals.
Invest in global growth funds with a long-term perspective: Consider investing in global growth funds for the long-term (5-8 years), diversify your portfolio, and avoid a short-termist attitude for steady returns.
Wealth managers advise taking a long-term view when investing in global growth funds, with a time horizon of at least 5 to 8 years, and placing them at the core of your portfolio. They urge against short-term gains and volatile market trends, suggesting a diversified approach to investing, with a smaller proportion allocated to trendier assets. The key is to avoid a short-termist attitude and instead focus on long, slow, and steady returns. So, this Mother's Day, consider giving your portfolio the gift of a long-term perspective. Remember, the best investments often come with a bit of patience and a solid, diversified strategy.
