In this episode of All Things Business – The Podcast, we talk about all things finance. We are joined by Ed Caswell, Associate Director at MHA Caves Wealth, James Robinson, Corporate Services Manager at Hawsons Chartered Accountants and Andrew Chubb, Director at Pilot Fish Finance.
Investment returns & inflation
The conversation starts with expert investment advice from Ed. When asked whether he would recommend investing at this time of the year (April 2022) rather than holding out for the current global economic issue to subside, Ed explains how difficult it can be to time the market. Time IN the market rather than Time-ING the market is often the driver of long-term investment returns.
He goes on to advocate a phased approach to take advantage of any volatility in the market and says whilst there is plenty to be concerned about, MHA Caves Wealth remains optimistic for those with long-term investment horizons. Ed recommends funds that could be a good place to start. Our guests go on to talk about inflation and that we may see inflation cooling by the end of this year.
What to look out for in an account
James discusses the main things that should be expected from an accountant. Number one is an accountant that understands your life cycle and what the individuals or company’s needs are. He says once you understand your client, a good accountant would help toward large tax savings and work towards the client’s ultimate goals. He shares that a good accountant will look at internal controls and processes, to give recommendations to improve systems to ensure the client is more efficient in what they do.
James also talks about his experience with accountant stereotypes and how Hawsons aims to break through these stereotypes. The conversation is followed by the most common mistakes he sees investors make, explaining that investing should not be an exhilarating process but rather a patience game.
Financial business growth
Our guests go on to discuss business growth and shares whether the high street bank poses competition within his specialty or not. Andy tells us whether he thinks finance is an area of the market that is likely to become more heavily regulated in the future.
Our three guests share that they are cautiously optimistic about the country’s economic recovery, but stress that the next few months will be tough despite this optimism for the future. They briefly discuss the country’s economic options moving forward, detailing the tight rope that England’s economy is currently tiptoeing.
We close with our guests telling us what sort of advice they would give to their clients.