Money matters: Why family finances remain taboo

'Courageous conversations do lead to the best outcomes'

clock • 3 min read

This Financial Planning week Chartered financial planner Ben Rogers discusses the methods he uses at Equilibrium Financial Planning to facilitate courageous conversations between clients and their families and why it is important to break down barriers around talking about money…

Research shows that a staggering 81% of people still avoid discussing their finances and 21% have never spoken about money with a friend or family member. While we might assume that financial planning clients are much more accustomed to talking on the topic, when it comes to broaching the subject with family members, it can be much more challenging. Enabling clients to look after those they love and have the biggest impact now and, in the future, requires open and honest conversations. Even as someone whose career is based on talking to people about money, I recognise how difficult th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Experienced adviser launches financial education website

Experienced adviser launches financial education website

Subscription-based model designed for individuals and businesses

Jenna Brown
clock 25 February 2025 • 2 min read
Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

Investors caution Reeves' ISA reforms 'would need to strike a careful balance' to solve UK investment crisis

‘A significant shift’ but not unprecedented

Sorin Dojan
clock 21 February 2025 • 2 min read
Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

Advisers urged to encourage philanthropy as UK's wealthiest donate £8bn

CAF report highlights untapped philanthropic potential among high-net-worth clients

Sahar Nazir
clock 21 February 2025 • 2 min read