It's a no brainer?

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There are various phrases that wind me up and one of them, which I have had the dubious pleasure of hearing a number of times in the past week, is the phrase “it’s a no brainer”.

One client, who had his various pension plans reviewed some years ago by another financial adviser was recommended to amalgamate all of these into one plan and invest everything into a commercial property fund. You can imagine how much this has fallen in value since the point the advice was given. When I asked what had been discussed at the time, the adviser had said that to move the money and invest it in this way would be a “no brainer”.

Then there was a client who was recommended to invest his entire pension into ARM and you can imagine the current situation there – what were they told by their adviser? Yes, you got it: “it’s a no brainer”.

Then I get a call recently from an investment firm, trying to get me to agree to a meeting to discuss an investment product they think will change the world. While I don’t share their positivity and can feel my heckles rising, I try to hear them out but then they say the fateful words “it’s a no brainer”. (Gee blog continues below)

Enough. At no point have I come across an investment that is a “no brainer”. If that were the case we wouldn’t need all the qualifications and knowledge that we do, in order to provide a great service and responsible advice. So the next time someone tells me something is a no brainer, I will respond accordingly.


Philippa Gee is managing director of Philippa Gee Wealth Management.

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Readers' comments (5)

  • Good points Philippa and I whole heartedly agree.

    The issue, unfortunately, is that clients are easily (miss!) 'sold' on the aforementioned 'no brainers' and the rest of the IFA community are subsequently tarred with the same brush when it goes wrong....

    As I often say when I get asked about such schemes or opportunities, if it was as easy as that I'd be retired by now!

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  • The only "no brainer" I know had to be done last week. Purchase a load of 2nd class postage stamps at 36 pence each and today they are worth 50 pence - a return of 38.88%!

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  • I agree with Phillippa. Another thing that gets on me is 'ball park figure' and the use of text talk like 'LOL' etc.

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  • "No brainer" is also on my list along with
    "added value" which usually means that the adviser has his hand in my pocket.

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  • to anonymous at 12.18pm

    Oh I don't know, 'lots of love' has been around for ages, lol. I wonder which one applies to the FSA? Are they lovable or laughable? You decide..... lol

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