20 January 2021
Staying resilient in the battle against COVID
As the saying goes, things sometimes get worse before they get better.
In the midst of yet another national lockdown, with mutant strains of COVID being discussed on the airwaves, 2021 has started by serving up much of what we experienced in 2020. However, there is a crucial difference this time around.
There is now a vaccine. The scientific community has come to the rescue. There is a light at the end of the tunnel.
The Government is providing hope by suggesting that this should be the final lockdown that we have to endure, and that lockdown might begin to be eased in the Spring. Therefore, it is crucial that we help those around us to stay resilient over these next few months until then.
As business owners of financial advice and mortgage practices, you are already predisposed to coping with change. In fact, our own research found that financial advisers are far more open to change than the average UK individual.
A book well worth reading to brace yourself for the upcoming months is Ross Edgley’s The Art of Resilience.
In it, Mr Edgley describes his mammoth swim around the 1,780 mile edge of the UK, in 157 days, and some of the techniques he used to help him keep going.
One interesting point he makes is that it is rarely the body that gives up, but instead it is the mind. If you can keep your mind resilient, then the body will just keep going.
It is therefore crucial that we help those around us to stay resilient, and to do this there are three things that we can all put into practice.
First is simply being empathetic. We have to understand that someone’s perception of what they are experiencing is their unique reality, even if you do not necessarily agree with it.
Secondly, you must be highly visible to your employees, making time to have meaningful conversations.
In lieu of face-to-face meetings, carving out one-to-one time with people be it over the phone or video calls can give them the opportunity to tell you what they are thinking and feeling.
And lastly it is about providing stable leadership. This makes people feel safer and enables them to do their best work.
Due to the potential toll on mental health, we thought we would make seeking therapy for financial advisers as easy as possible and have teamed up with Spill, who are specialists in workplace mental health support. You can find out more about Spill here.
The next few months could be tough, but it is critical that we support each other as best we can.
This is article has been amended from the column that first appeared on FT Adviser 28th October 2020.
Scott Stevens is director of recruitment and acquisitions for Quilter Financial Planning.
Notes to Editors
About Quilter plc:
Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.
Quilter plc oversees £95.3 billion in customer investments (as at 31 March 2020).
It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.
The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.
Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.
Wealth Platforms includes Old Mutual Wealth UK platform and Quilter International, including AAM Advisory in Singapore.
The Old Mutual Wealth Heritage life assurance business was acquired by ReAssure Group Plc on 2 January 2020.
Since its IPO in June 2018, Quilter plc’s businesses have progressively rebranded to Quilter, as follows:
- Quilter Financial Planning (previously Intrinsic)
- Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
- Quilter Financial Advisers (previously Charles Derby Group)
- Quilter Financial Adviser School
- Quilter Cheviot
- Quilter Investors
- Old Mutual Wealth (becoming Quilter Investment Platform in 2020)
- Quilter International (previously Old Mutual International)
This press release is for journalists only and should not be relied upon by financial advisers or customers.
Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.
This communication is issued by Quilter plc. Registered office: Senator House, 85 Queen Victoria Street, London, EC4V 4AB, United Kingdom. Registered number: 6404270. Registered in England.