Survey results from ACT webinars with Tilney on personal finances

Business Personal
69% have a 3-5 year business plan
50% review budgeting every 12 months
42% regularly assess new circumstances and global trends
26% plan their personal finances 3-5 years ahead
15% 18 months to 3 years 
21% 12 to 18 months
40% leave it over 5 years
65% of Trustees are in businesses that were ‘established’ prior to Covid.  
46% were affected by the pandemic - the majority of those that were affected were going through investment and growth
47% are established in their career
42% are thinking about retirement
84% have had no impact from Covid
Key drivers for business risk appetite are: 
Financial stability; risk culture and risk appetite of the Board, Covid 19 and the external environment
The main driver for personal risk appetite is income then time frame and expenditure
73% have a consistent risk appetite across the business 79% have different risk appetites for different parts of their savings and investments
56% review their treasury policy annually
32% every 2 to five years
12% when significant change in business or environment
58% review their own risk appetite annually
32% when there is a change in circumstances
42% employ specialists to manage risk in the business 32% employ specialists for their personal finances
80% do their own personal research when managing risk
68% use specialist advisers
94% do their own personal research
31% use specialist advisers
When looking for a specialist 90% look for a demonstration of expertise
81% wants them to listen to their needs and deliver a good service
72% want someone they can work with as a business partner and is open and transparent
100% of those that use specialist advisers consider demonstration of expertise and delivery of service the most important
83% wants them to listen to their needs
96% consider liquidity and timeframe are the most important factors when considering risk 84% considers tolerance to risk is highest when looking at risk for their personal investments
57% consider time frame
84% regularly reviews business risk  87% based their risk on their review and appraisal of their current personal financial circumstances
42% chose what felt right at the time
26% used an adviser to create it
44% determines the risk appetite of other stakeholders with the majority being: shareholders, the Board 56% involve close family in planning in their financial affairs.  All involve spouse and 20% involve children.
92% do not advise on their company pension fund 11% manage their own pesion fund
53% use an investment manager for their pension fund
37% have a combination of both
48% has a pension scheme with no impact on the organisation
28% have a defined benefit with a proportion in deficit
31% consider they have enough in their pension as there is time to grow
26% have enough as long as markets don’t fall
21% need to continue to invest and use allowances
15% need to be careful of LTA
Only 5% are unsure
21% think they are missing an opportunity for growth with 100% of respondents saying types of investments as the reason.
60% due to mitigating tax
31% are missing opportunities from their financial security
Of these 100% consider the reason to be citing types of investments with 50% saying diversification, mitigating tax and maximising allowances


Scroll to top