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Personalising Investments

“They’ve recommended that I buy wet and dry sandpaper!”

To say the teenage son of one of our team was less than enthusiastic at the latest purchase suggestion from a well-known online store would be putting it mildly. Admittedly fairly heavy use of this particular site when it comes to birthday and Christmas presents has in the past led to some unusual suggestions but DIY materials have yet to feature on the list.

That leaves us with two conclusions. Either algorithms are getting so sophisticated that they have started to anticipate products which we don’t even know that we may require in the future; or the suggestions are not as targeted as we might think. Either way the recommendation is not appropriate at this moment in time; meeting neither current nor known future needs.

It’s a lesson which we can take out into the field of investment. Best investment practice is to make recommendations based on a client’s current and known future anticipated circumstances. That means taking into account a range of factors including risk appetite and making recommendations accordingly. And because life doesn’t always deliver a clear pathway, regularly reviewing investments helps to make sure that they continue to be targeted towards individual requirements.

If you’re looking for pensions or investment advice, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.