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Financial information: overload or the path to greater autonomy?

Financial information: overload or the path to greater autonomy?

 

Last month, the Competition and Markets Authority (CMA) published their findings on the competitiveness of retail banking services in the UK. Investigating current accounts in particular, they reported that customers could save an average of £70 a year by switching their accounts.

Resistance to change
Today’s findings from YouGov have shown that customers are highly resistant to switching accounts from high street banks, with only 18% saying they would bank with alternative providers and challenger banks. The CMA also found that 79% of current account holders have not even looked to see if there was a better deal elsewhere in the past year.

 

Information overload
Data, information and the choices available to consumers have never been greater. But it seems that, even though the public is disillusioned with the banks, it has been slow to take advantage of the options available. This could be for a number of reasons: a lack of understanding, limited practical guidance or simply just not enough time to fully assess all the alternatives and their relative benefits. Actively managing finances seems like a hassle. Consumers feel overloaded with information.

 

Information is power
However, information is power. Consumers should continue reading and exploring new avenues to improve their financial well-being. At a time of historically low interest rates and volatility in many investment markets, the savvy investor would be wise to keep reading, learning and shopping around for better returns.

We would advise to start with what you know – tangible, physical investments that are easy to understand. For us, at Wellesley, this is property. As the market continues to grow and the economy improves, we are always looking for new partners to invest with into bricks and mortar in the UK. The potential returns speak for themselves and the risks, such as they are, are not difficult to understand.

 

Financial responsibility
Today, financial apathy is the equivalent to losing money. Consumers need to take responsibility for their own finances and start by pursuing the opportunities they know the most about and with which they feel most comfortable. Data and information do not have to be a burden. In fact, they are the very tools to greater financial autonomy. For simple and straightforward investment options, why not explore The Wellesley Way?

Bear in mind

Wellesley Property Bond

  • The Wellesley Property Bond has a fixed rate and duration.
  • The Wellesley Property Bond is an ISA eligible investment, allowing you to earn tax free interest on your investment. Please note, tax allowances and the tax efficient benefit of ISAs could change in the future.

Your capital is at risk and interest payments are not guaranteed. Investment in any Wellesley Property Bonds are not covered by the Financial Services Compensation Scheme (FSCS). In the event of a loan default or if Wellesley Secured Finance Plc becomes insolvent, you may lose some or all of your investment, including interest payments due. If you are in any doubt about making an investment or do not fully understand the risks, you are strongly recommended to consult an independent professional financial adviser before you subscribe.

Wellesley is the singular name for the following collective of companies, Wellesley Group Limited (09811856), Wellesley & Co Limited (07981279) and Wellesley Finance Plc (08331511). Wellesley Secured Finance Plc was established as a special purpose vehicle for the sole purpose of issuing asset backed securities and is not part of Wellesley Group.

The information contained in this website has been approved as a financial promotion for UK publication by Wellesley & Co Limited (FRN 631197) who is authorised and regulated by the Financial Conduct Authority (FCA). Wellesley Property Bonds are issued by Wellesley Secured Finance Plc (the Issuer) and is not authorised or regulated by the FCA.

Wellesley & Co Limited and Wellesley Finance Plc are registered in England and Wales and their registered office and trading address is at St Albans House, 57/59 Haymarket, London SW1Y 4QX. The registered address for Wellesley Secured Finance Plc is at 1 Bartholomew Lane, London, EC2N 2AX.

 

Require further information?
Call our customer service team on 0800 888 6001 or e-mail us on [email protected]