There is no such thing as a dumb question in advice

There is no such thing as a dumb question in financial advice, Alison Dellow from Hewison Private Wealth believes.

Speaking on a recent episode of the ifa Show, Ms Dellow explained that an adviser’s role is to “coach our clients and teach our clients”, and questions are a key part of that process.

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“You want them to ask questions so we can have those conversations. The last thing you want is a client not to ask questions and then panic in a moment when things aren’t going to plan,” Ms Dellow said.

She noted that while some clients are very financially literate, others need a little more help.

“You get clients that aren’t as financially savvy as others. And that’s probably the best part, or one of the best parts, of the role is that you’re dealing with different people at different experience levels,” Ms Dellow said.

Speaking about financial literacy, Ms Dellow did admit that it needs to become an integral part of the education system. This, she said, would also help destigmatise talking about money.

“I think that’s probably one of the biggest downfalls in our education system,” she said.

“I think having more knowledge is power. And I think we need to be arming our kids in the school system to have those tools in place to make informed decisions about their own financial wellbeing, even if it’s real basic, like the value of money, how to save and insurance.”

To hear more from Ms Dellow, click here.