Financial planners need to get better at articulating their value to clients, Attivo regional director Louise Barraclough has insisted.

At Money Marketing Interactive in Leeds today (24 October), she said advisers should think about where the value of their advice is for clients.

“As planners, we absolutely need to believe our value,” she said, suggesting this is the “biggest thing in this profession that we lack”.

“It’s not just enough to believe value,” she added. “We need to articulate value way before the client asks us to demonstrate it.”

Barraclough said that, to some degree, she can understand why advisers tend to “hide behind regulations” because “sometimes that’s an easy thing to do”.

However, those in financial-planning roles have a great deal of power over clients’ lives.

“The decisions that you help your clients make today don’t just impact the next year, they don’t just impact the next 10 years,” she said. “The impact extends to the next generation.”

Barraclough also suggested people often do not fully understand the difference between financial advice and financial planning.

“One of the questions I’m frequently asked is, ‘Which is best?’ The truth is, both are important, and both have a place in today’s world.

“You will all act as coaches, mentors and planners for your clients, but at some point, you’ll also need to give them advice on their investments

“This is the foundation of any financial plan.”

She said the challenge arises when a client approaches a planner for a purely transactional relationship and they try to shift that client straight into a financial planning relationship. “That’s where friction can occur.”

“Demonstrating value is often about recognising where your client is on their journey, meeting them at that point, and then guiding them through financial planning done well.”

She said the planner essentially becomes the “flight attendant” in a client’s financial life, “ensuring their comfort and safety”.

“The past few weeks have proven this,” she said. “And the next few will prove it even more. With the Budget being a hot topic, you’ll be dealing with that for sure.”

During her presentation, Barraclough urged advisers to “treat every client as a human being”.

“But,” she added, “you can take it a step further and treat each one as though they are your only client.”

A MAJOR supermarket has slashed its Christmas tub prices to just £2.50.

Cheaper than Aldi or Tesco – the offer makes this the most cost-efficient place to purchase Christmas chocolate boxes.

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From October 25 to October 27, Asda customers can bag this sweet deal – but there is a catch.

Customers have to be signed up for the Asda rewards programme.

The offer is part of Asda’s Rewards Mega Event weekend, where shoppers can save more than 50% on festive favourites like Quality Street, Cadbury Heroes, Cadbury Roses, Celebrations, and Swizzels.

Normally priced at 2 for £9, Asda has cut the cost to just 2 for £5 – meaning each tub costs just £2.50, making it the best price around for stocking up on festive treats.

Shoppers will need to download the Asda Rewards app to take advantage of this offer.

Coupons for the discount will appear in the app’s ‘wallet’ section from Friday, October 25.

To claim the deal, simply scan the coupon at the till, and your discount will be applied.

But be quick – once the weekend ends on October 27, so does this massive discount.

Asda’s Rewards Mega Event isn’t just about chocolates.

Its loyalty program allows shoppers to earn “Asda Pounds” on their everyday purchases, which can be converted into vouchers for money off future buys.

Deals on household products and cosmetics also earn Asda Pounds, boosting savings even further.

How to get the best deal

While this weekend’s deal on Christmas tubs is unbeatable, it’s always worth comparing prices to make sure you’re getting the best deal.

Ocado is currently selling the same 600g tubs for £5, while Tesco and Sainsbury’s are listing them at £6.

Morrisons is offering 2 tubs for £6, and Aldi has dropped prices to £3.89 per tub.

However, Asda’s 2 for £5 offer blows all competitors out of the water so for those wanting to get ahead of the festive rush, now’s the perfect time to stock up and save money.

Prices listed above reflect today’s prices, October 24, and are subject to change all the time.

Just because something is on offer, or is part of a sale, it doesn’t mean it’s always a good deal.

How to save money on chocolate

We all love a bit of chocolate from now and then, but you don’t have to break the bank buying your favourite bar.

Consumer reporter Sam Walker reveals how to cut costs…

Go own brand – if you’re not too fussed about flavour and just want to supplant your chocolate cravings, you’ll save by going for the supermarket’s own brand bars.

Shop around – if you’ve spotted your favourite variety at the supermarket, make sure you check if it’s cheaper elsewhere.

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Websites like Trolley.co.uk let you compare prices on products across all the major chains to see if you’re getting the best deal.

Look out for yellow stickers – supermarket staff put yellow, and sometimes orange and red, stickers on to products to show they’ve been reduced.

They usually do this if the product is coming to the end of its best-before date or the packaging is slightly damaged.

Buy bigger bars – most of the time, but not always, chocolate is cheaper per 100g the larger the bar.

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So if you’ve got the appetite, and you were going to buy a hefty amount of chocolate anyway, you might as well go bigger.

There are plenty of comparison websites out there that’ll check prices for you – so don’t be left paying more than you have to.

Most of them work by comparing the prices across hundreds of retailers.

For example, Google Shopping is a tool that lets users search for and compare prices for products across the web. Simply type in keywords, or a product number, to bring up search results.

Another tool is Price Spy, which logs the history of how much something costs from over 3,000 different retailers, including Argos, Amazon, eBay and supermarkets.

Once you select an individual product you can quickly compare which stores have the best price and which have it in stock.

Idealo is another website that lets you compare prices between retailers.

All shoppers need to do is search for the item they need and the website will rank them from the cheapest to the most expensive one.

Chancellor Rachel Reeves’ first Budget on 30 October “more than ever highlights the importance of financial advice”.

This is what Triple Point regional business development manager Lucy Dolan said on a panel at the Money Marketing Interactive conference in Leeds today (24 October).

Speaking on the same panel Moran Wealth Management founder Nicola Crosbie added that there has been a lot of “panic and hysteria” surrounding the Budget.

“The need for tax planning advice will increase” as a result, Crosbie added.

She said that at the moment it is all speculation, but “we need to have a plan in place to help clients quickly following the Budget”.

Dolan, on a more positive note, said: “We have been through a lot of change before and come out of it on the other side”.

Still, her diary is packed with post budget sessions and webinars.

Syndaxi Financial Planning managing director Robert Reid also asked the audience how many had been asked about tax-free cash in the run-up to the Budget.

The majority of those attendance raised their hands.

Dolan also spoke about venture capital trusts (VCTs) and enterprise investment schemes (EIS).

EIS and VCTs enable businesses to secure equity investment and grow rapidly, with tax reliefs helping reduce investors risk, she said.

In regards to the abolition of the lifetime allowance (LTA), Crosbie said she does not believe it will be reintroduced.

Reeves initially indicated that Labour would reverse this move, which was originally announced by then chancellor Jeremy Hunt.

However, Labour dropped plans to reintroduce the pension LTA, saying it would be “too complex”.

This move was widely welcomed by the financial services industry.

A MAJOR energy firm is giving thousands of customers free electricity this Halloween.

E.ON Next, which serves 5.6 million customers in the UK, is offering selected customers free electricity this Halloween.

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The energy firm has begun emailing chosen customers, encouraging them to take advantage of this special offer. 

Customers who download the E.ON Next app can receive a £5 credit on their electricity bill for Halloween.

The email sent to participants reads: “No tricks this Halloween, just a treat on us.

“Here’s a scarily good deal! Get a day’s worth of free electricity on us, just by following three simple steps.”

To claim the reward, customers who receive the email must first download the E.ON Next app, available on both the Apple App Store and Google Play Store.

After downloading the app, they need to log in to their E.ON Next account within 48 hours.

Once these steps are completed, customers can claim a free £5 energy credit, which will be applied to their electricity bill on October 31.

E.ON Next states that the £5 credit is equivalent to the average daily cost of electricity in the UK, meaning it will cover a full day’s electricity usage for most customers.

However, customers with a prepayment meter will not be eligible for this offer.

Reacting to the news of the offer on Facebook, one customer said: “Decent, that’ll cover boiling the kettle.”

Another said: “This can be really helpful for those who are struggling!”

“I downloaded their app, and it’s the first thing that pops up once signed in,” said a third.

Eligible customers have until 10am tomorrow (October 25) to redeem the offer before it closes for good.

E.ON Next said that the £5 credit will appear as ‘Free energy credit’ on online accounts, paper statements, and bills.

Customers who aren’t with E.ON Next can still get access to free bill credits by taking part in a number of energy-saving schemes.

OTHER WAYS TO GET FREE ENERGY CREDITS

A number of energy suppliers reward customers with discounts or credit when they change the way they use their gas and electricity usage.

These schemes, offered by the likes of British Gas, EDF, Octopus and Ovo Energy, can help customers save money this winter.

Here’s everything you need to know.

British Gas

British Gas‘ Peak Save Sundays scheme offers millions of customers half-price electricity for using their energy during certain hours.

It offers qualifying customers half price electricity between 11am and 4pm every Sunday.

The energy firm said over 650,000 customers had already signed up to the scheme, saving a combined £13million between them.

You can sign up to the scheme by visiting britishgas.co.uk/energy/peak-save.html.

The supplier will then be in touch with you if your application is successful.

After that, your savings will appear as “PeakSave Credit” on your next energy bill or online statement.

Be aware that you can only sign up to the scheme if you have a smart credit or prepayment meter that can send half-hourly meter readings.

If you don’t have a smart meter, don’t worry, British Gas will install one for free in your home.

EDF Energy

EDF offers customers the opportunity to run their homes for no cost if they take part in a new challenge.

To get the hours of free electricity, customers must cut down on using electrical devices during “peak hours”, which tend to be between 4pm-7pm Monday to Friday.

In return, EDF will give customers free electricity on Sundays when demand to the energy grid tends to be lower.

The more electricity customers shift to off-peak times, the more free electricity they can earn.

Customers who manage to cut back their usage by 40% during the week can earn up to 16 hours of free electricity to use on a Sunday.

To take part, customers need a smart meter.

To find out more, visit edfenergy.com/energy-efficiency/sunday-saver-challenge.

Octopus Energy

Octopus Energy customers who are signed up to the “Octoplus” can take part in free electricity sessions when wholesale prices fall below zero.

The sessions last an hour, and customers can use electricity for free and receive credits for using more than they typically would.

All customers with a smart meter, including smart prepay meters, receive an alert the day before each session.

When the session begins, they can ramp up their electricity usage – whether it’s charging gadgets, running a laundry marathon, or any other household activity.

Any extra electricity consumed beyond their normal usage will be credited back to their account.

Find out more by visiting octopus.energy/free-electricity/.

Ovo Energy

Ovo Energy also offers a scheme which rewards customers for reducing their energy consumption during peak times.

Power Move offers customers up to £10 a month if they use 8.50% or less of their home’s total electricity between 6-9pm, Monday to Friday.

For example, by using the dishwasher in the morning or waiting until after 9pm in the evening to catch up on TV.

You can sign up by visiting ovoenergy.com/power-move.

What energy bill help is available?

There’s a number of different ways to get help paying your energy bills if you’re struggling to get by.

If you fall into debt, you can always approach your supplier to see if they can put you on a repayment plan before putting you on a prepayment meter.

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This involves paying off what you owe in instalments over a set period.

If your supplier offers you a repayment plan you don’t think you can afford, speak to them again to see if you can negotiate a better deal.

Several energy firms have grant schemes available to customers struggling to cover their bills.

But eligibility criteria vary depending on the supplier and the amount you can get depends on your financial circumstances.

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For example, British Gas or Scottish Gas customers struggling to pay their energy bills can get grants worth up to £2,000.

British Gas also offers help via its British Gas Energy Trust and Individuals Family Fund.

You don’t need to be a British Gas customer to apply for the second fund.

EDF, E.ON, Octopus Energy and Scottish Power all offer grants to struggling customers too.

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Thousands of vulnerable households are missing out on extra help and protections by not signing up to the Priority Services Register (PSR).

The service helps support vulnerable households, such as those who are elderly or ill, and some of the perks include being given advance warning of blackouts, free gas safety checks and extra support if you’re struggling.

Get in touch with your energy firm to see if you can apply.