It’s a no brainer?

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.