LinkedIn: A Hidden Pool of Talent for Small Businesses: LinkedIn is a crucial platform for small businesses to discover hidden talent, as it hosts professionals who may not be actively seeking new opportunities but could be open to the right role, and over 70% of LinkedIn users don't visit other leading job sites.
LinkedIn is a valuable resource for small businesses looking to hire top talent. Sandra, a potential candidate, emphasized that she went unnoticed by businesses because they didn't use LinkedIn for job postings. LinkedIn hosts professionals who may not be actively seeking new opportunities but could be open to the right role. Furthermore, over 70% of LinkedIn users don't visit other leading job sites, making it an essential platform for discovering potential hires. In other news, consumers learned of a potential £1,000,000,000 compensation payout from the UK courts regarding controversial loan insurance sales. However, Elaine Moore cautions that this is not the end of the PPI mis-selling scandal, as the banks may still appeal the ruling. Despite this uncertainty, it represents a step forward for those who were sold these policies unnecessarily.
Mis-sold PPI Policies: Half a Million Complaints, 4.5 Billion GBP in Payouts: Half a million complaints over mis-sold PPI policies resulted in 4.5 billion GBP in payouts, with some individuals receiving up to 44,000 GBP. Individuals can still make a complaint to their bank for potential compensation.
The ongoing issue of mis-sold Payment Protection Insurance (PPI) policies in the UK has resulted in over half a million complaints, with potential millions more. The average payout is around 2,500 GBP, but some individuals have received up to 44,000 GBP. The Financial Services Authority estimates the total bill to be around 4.5 billion GBP, while banks and analysts suggest it could be even higher. Some banks have stopped examining new claims while they decide whether to appeal the ruling. PPI is an insurance sold alongside loans, credit cards, or mortgages, intended to cover repayments if the policyholder is unable to work due to illness or unemployment. However, some people who were unemployed or students were sold these policies, rendering them useless. Individuals can still make a complaint to their bank, providing necessary information, and wait for a response within eight weeks. If unsatisfied, they can take it to the ombudsman.
FSA encourages banks to reach out to potential PPI claimants: Banks are being urged to contact customers who might have been mis-sold PPI, following a court ruling that could lead to more claims.
The Financial Services Authority (FSA) is encouraging banks to proactively reach out to customers who may have been mis-sold Payment Protection Insurance (PPI), even if no complaint has been made. This comes after the recent court ruling that has opened the door for millions more potential claims. Meanwhile, in the world of investing, the value of English agricultural land has doubled in the past 4 years and continues to rise due to strong demand and a global food shortage. Farmers and private investors are showing increasing interest in buying farmland, particularly in fashionable counties, as the world's population continues to grow and food production becomes a pressing issue.
Increasing Demand for Land and Rising Prices in the UK: The UK's agricultural land market is in high demand due to population growth and limited supply, leading to significant price increases. However, accessing this market can be challenging due to the quick pace of buying and selling and the north-south price divide.
The demand for land, particularly for agricultural purposes, is increasing due to the growing global population and the challenges in feeding everyone by 2050. This demand, combined with limited supply, is leading to significant growth in land prices, especially in the UK. However, accessing this market can be difficult due to the limited availability of land and the quick pace at which it is being bought. While there are risks, such as the slower pace of buying and selling land compared to other investments, the relatively benign climate in the UK makes it an attractive market for both domestic and international investors. Additionally, there is a north-south divide in land prices in the UK, with the south seeing much higher prices than the north.
Farmland Investing Less Appealing to Collective Investment Schemes and Funds: Individuals may need to take on farming and farmland investing themselves due to small annual yields and increasing costs. Be cautious of investment fund labels, as some may hold significant bond holdings.
While farming and investing in farmland can offer attractive capital growth, the relatively small annual yields and increasing costs make it less appealing to collective investment schemes and funds. Instead, individuals may need to take on the responsibility themselves. Meanwhile, the use of the term "cautious" in investment funds can be misleading, as some of these funds may hold a significant portion in bonds, which could become less attractive during periods of high inflation and rising interest rates. Investors should carefully consider the true risk profile of their investments and not rely solely on labels.
Caution with 'Cautious' Corporate Bond Funds: Investors should ensure at least half of their corporate bond holdings are inflation-hedged, as some 'cautious' funds may not adequately hedge against inflation. Fund managers base asset allocation on historic performance, and lack of transparency makes it essential to research investments thoroughly.
Investors need to be cautious when considering "cautious" funds that heavily invest in corporate bonds. These funds may not adequately hedge against inflation, and investors should ensure at least half of their corporate bond holdings are inflation-hedged. Fund managers are currently basing asset allocation on historic performance rather than future expectations, and the lack of transparency regarding a fund's holdings makes it essential for investors to look beyond the basic allocation information. The financial industry is moving towards eliminating the use of the term "cautious" in fund titles, as it often misleads investors about the actual risks involved. It is crucial for investors to remain vigilant and thoroughly research their investments before making any decisions.
The Power of Appreciation and Financial Planning: Appreciation boosts individual and corporate performance, platforms like Reward Gateway help harness it. Health insurance is crucial, TriTerm Medical Plans offer flexible coverage. Stay updated on finance news, trends, and tips at ft.com/forward/money. Seek expert advice for financial questions.
Appreciation matters, both for individuals and organizations. At a personal level, it can bring feelings of warmth and confidence. At a corporate level, it can boost performance and productivity. This is why platforms like Reward Gateway exist, to help businesses harness the power of appreciation. Elsewhere in the financial world, there are other important matters to keep in mind. For instance, health insurance is a constant need. UnitedHealthcare TriTerm Medical Plans, underwritten by Golden Rule Insurance Company, offer flexible and budget-friendly coverage that lasts nearly three years in some states. Meanwhile, technology continues to evolve at a rapid pace. For example, chatbots may soon become our new best friends. But despite the changes, some things remain constant. Keeping informed about your finances and seeking expert advice when needed are essential. To stay updated on the latest finance news, trends, and tips, visit ft.com/forward/money. And if you have any financial questions, don't hesitate to email us at money@ft.com. Until next time, goodbye from me and the team at Stratton Parker. For more podcasts, go to ft.com/forward/podcasts.
What the PPI ruling means for consumers
Recent Episodes from Money Clinic with Claer Barrett
Can Stuart Kirk double his money in eight years?
How does one double a sizeable portfolio in under a decade? The short answer is by taking more investment risk - and in today’s episode one of the FT’s most experienced investment columnists weighs up the potential risks.
Stuart Kirk has set an ambitious financial goal to hit ahead of his 60th birthday — growing his portfolio from just over £500,000 today to £1mn by 2032.
Will he be persuaded to take a punt on flashy US tech stocks, dabble in alternative investments such as private equity, go for gold, or even gamble with cryptocurrency?
In the edited highlights from the FT Weekend Festival in London, host Claer Barrett invites Stuart to present his portfolio to the FT Money tent, before taking a grilling from inquisitive FT subscribers in the audience.
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
Money Clinic will be back in 2025 with new episodes. If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on X, Instagram and TikTok.
Want more?
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Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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More information on Morgan Housel and his books: https://www.morganhousel.com/
Follow Claer on social media @Claerb
Presented by Claer Barrett. Produced by Philippa Goodrich. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Hosted on Acast. See acast.com/privacy for more information.
How “painful” will the Budget be for your finances?
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For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
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Presented by Claer Barrett. Produced by Tamara Kormornick with help from Mischa Frankl-Duvall. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
“How not to lose a million dollars”
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For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
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Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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In an episode which first aired last September, Miranda tells presenter Claer Barrett about her experiences dealing with inconsiderate call handlers and poor processes in the private sector. Claer puts Miranda’s concerns to Eric Leenders, the director of personal finance at UK Finance, the trade body that represents about 300 financial services organisations. What are they doing to address the problem?
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Listen to the second part of this series, Help! My parents are being targeted by scammers
Read Miranda Green’s article for free: Sadmin - the side hustle nobody wants
Services mentioned in the podcast:
https://www.gov.uk/after-a-death/organisations-you-need-to-contact-and-tell-us-once
https://www.mylostaccount.org.uk
https://www.deathnotificationservice.co.uk
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
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Read the transcript of this episode which was first aired last September on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Best of Money Clinic: The financial advice we’d give to Barbie
Barbie is a big spender and high earner, fast approaching the age of retirement. But after a long and varied career that has seen her build a portfolio of multiple dreamhouses and a low-commitment, long-distance relationship with casual boyfriend Ken, what financial advice should she be looking for?
In this Headlinemoney award-winning episode of Money Clinic, first aired in August 2023, presenter Claer Barrett is joined in the studio by wealth manager Christine Ross from Handelsbanken and FT personal finance columnist Moira O’Neill, who share their tips on everything from prenups to investing.
Clips: Warner Bros
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, How the ‘single tax’ can break financial resilience.
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Presented by Claer Barrett. Produced by Persis Love. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Should I get a prenup?
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For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
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Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with help from Jake Fielding, and the original music is from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Money Clinic presents: How to future-proof your career
Isabel Berwick, host and editor of the FT’s Working It podcast and newsletter, has spent the last year writing The Future-Proof Career, a book about how to thrive at work, now and in the future. In April, she held a launch event at Daunt Books, where she spoke to Money Clinic’s Claer Barrett, the FT’s consumer editor, about what she learned in the process. This is an edited version of a Working It episode that aired in May.
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
Catch Isabel on the FT’s Working It podcast, read her latest newsletter, Keeping teams calm in turbulent times, and follow her on LinkedIn.
Read more Work & Careers articles from the FT, such as Five secrets of workplace success, and Can AI make brainstorming less mind-numbing?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
Listen to more episodes of Money Clinic, such as Money Clinic live: How to get a pay rise.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
How can I cut the cost of my insurance cover?
The cost of insurance premiums is rising to record highs, but levels of customer service are falling for customers who end up having to make a claim, according to a new report. The consumer group, Which? has found that almost half of those claiming on home, car or travel insurance policies in the past few years have experienced at least one problem, as the volume of complaints linked to claims handling soars. Host Claer Barrett sits down with Sam Richardson, the deputy editor of Which? Money and Ian Smith, the FT’s insurance correspondent, to find out why insurance has become such a minefield for consumers, and how to reduce the cost of premiums without compromising the quality of cover.
Links:
Money Helper: https://www.moneyhelper.org.uk/en
British Insurance Brokers’ Association: https://www.biba.org.uk/
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Twitter, Instagram and TikTok.
Want more?
Read Ian Smith’s FT Money cover story, What’s driving the car insurance crisis?
Check out Claer’s column, How the ‘single tax’ can break financial resilience
Listen to more episodes of Money Clinic on the topic, such as Am I paying too much for insurance?, Finance tips for freelancers, insurance pitfalls and how to write the perfect 'to do this', and more.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
Investment Masterclass: The hunt for global growth stocks
When it comes to growth investing, big US tech stocks are the prime example. However, professional investors are looking to diversify into other areas of global stock markets, seeking out fast-growing companies of the future.This week, Claer sits down with fund manager James Thomson, who has managed the £4bn Rathbone global opportunities fund for 20 years. In this episode, he shares the ingredients for his “special sauce” to investing in growth stocks, his biggest mistakes and the core lessons he has learned from weathering several economic crises.
Links:
The Five Minute Investor from Money Clinic: Magnificent Seven
Money Clinic’s Investment Masterclass: The case for investing in AI
For a chance to win a pair of Bose QuietComfort 35 Wireless Headphones, share your thoughts on the show with us via a short survey before August 29 2024 (terms and conditions can be found here).
For more tips on how to organise your money, sign up to Claer's email series 'Sort Your Financial Life Out With Claer Barrett' at FT.com/moneycourse
If you would like to be a guest on a future episode of Money Clinic, email us at money@ft.com or send Claer a DM on social media — she’s @ClaerB on Instagram and TikTok.
Want more?
Check out Claer’s column, Could AI make you a better investor?
Listen to more investment masterclasses from Money Clinic, such as WTF are ETFs, Do sneakers deserve a place in your investment portfolio?, and more.
Disclaimer: The Money Clinic podcast is a general discussion about financial topics and does not constitute an investment recommendation or individual financial advice.
Presented by Claer Barrett. Produced by Tamara Kormornick. Our executive producer is Manuela Saragosa. Sound design by Breen Turner, with original music from Metaphor Music. Cheryl Brumley is the FT’s global head of audio.
Read a transcript of this episode on FT.com
Hosted on Acast. See acast.com/privacy for more information.
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