AEGON Asset Management (AAM) is a strong advocate of the need for good, sound financial advice, to enable people to make the best financial decisions.
We are pleased to be involved with the Scotsman's IFA of the Year competition 2008 in association with Scott-Moncrieff Wealth Management as we believe it provides an excellent showcase for some of Scotland's leading independent financial advisers (IF
As).
The Scotsman's case study on which this year's competition is based, details the financial affairs of Angus and Margaret MacDonald. This provides a brilliant example for the ten advisers to pit their professional knowledge against each other, to develop the most suitable financial strategy for the couple, while allowing readers of The Scotsman to develop their understanding of the need for financial advice.
It is more imperative than ever before that we all plan for our retirement and aim to maximise our income to make it a long and happy experience. This year's competition is likely to prove very challenging for the advisers as they aim to build an investment portfolio that meets the MacDonald's long-term objectives. At AAM we believe the year has started with some of the biggest challenges since the last bear market ended in 2003.
The much-publicised credit crunch in the second half of 2007 has left equity prices 10 per cent off their previous highs, while property funds are also 10 per cent down on last year.
AAM believes it is possible this deceleration in the economy will continue throughout the year, as the lack of credit availability impinges on corporate and personal spending in both the United States and the UK.
As such, it is of the utmost importance that the advisers make their investment decisions very carefully, giving consideration as to how the investment managers they recommend can add value to the client, have a sustainable investment process and an excellent track record.
• Jon Bennett is director retail sales and marketing AAM.
