Do You Suffer Number Shame?

Dominic Thomas 
Post written: March 2026  •  Published: June 2026
2 min read

Do You Suffer Number Shame?

I was buying food the other day and the bill was significantly more than I was expecting, I couldn’t believe how much it cost – my initial thought was “that’s expensive” but then realised there was an error. It turned out that the bill had included someone else’s food. However our waiter hadn’t realised and so I politely asked it to be checked. He noticed the problem. He then went away, returning with the machine again, but it was still wrong – it was too little. I’m not someone to take advantage of this, so I said that it was still wrong and explained why. We got there in the end.

This all came about for two reasons, firstly reliance on technology (that it’s always correct) this is probably due to our constant use and reliance on technology, for most of us that’s our phone. You will recall perhaps the most obvious data error that ruined the lives of Post Office submasters, who adamantly claimed that their numbers were correct, but the Fujitsu Horizon system, the Post Office, the legal system and then the Government said otherwise. It has taken far too long for this to be acknowledged and corrected – it’s still not resolved.

Secondly, mental maths is not most people’s strong point, most of us don’t check bills carefully, we don’t wish to appear pedantic, ‘tight’ or expose our mathematical ability. This is usually experienced when attempting to split the bill at a restaurant. Of course, there’s an app for that, but invariably this is only a case of dividing by two or three.

There has been growing concern about financial literacy, money is complicated and not understanding it has a lot of significant issues. These can be sufficiently explained and understood, but only really if there is willingness to learn. Money literacy is fairly limited if basic understanding of maths isn’t in place and this may be due to actual problems learning about numbers and/or the feelings we have about not understanding and the shame or embarrassment that can prevent us from attempting to do so. It’s fundamental that we can learn and encourage from a place of not knowing, without shame.

One of my lasting memories of primary school was during a maths lesson. This was decades ago in the 70s. I was 7 or 8, in a small village school. As we completed our sums, we queued at our Teacher’s desk to get our work marked. I was good at maths. I took my workbook to have it marked and was surprised at the red cross that was made against one of the answers. “Do it again”.  I returned to my seat, puzzled over the question, failing to see how I had got it wrong. I couldn’t and I wrote down the same answer. Nervously I returned again to the small queue of classmates. This time she got angry, “no that’s wrong! Do it again!” this process continued for perhaps another 2 or 3 times, each time I became more upset (as did she) and each time I presented the same answer. There was no attempt to explain where I had gone wrong. Eventually it occurred to her to do so and, in a moment of embarrassment, she realised that my answer was in fact correct and she apologised and gave me a sweet to cheer up the little boy who had since become tearful.

These moments last with us, for me it knocked my confidence considerably, it probably became foundational in my lack of trust of authority, but for whatever psychological reason, it made maths an endurance; associated with anger, failure and misunderstanding.

Clearly I have enough confidence to be able to be a financial planner. I went on at secondary school to take my Maths O’Level and AO’Level two years early, so I was decent at it by then, but the truth is that this early experience shaped things. In truth even then, she was a very “old school” feared teacher who wasn’t warm or engaging, but had to be experienced in the three classroom progression of a tiny rural village school.

Here is a clip from a film I really enjoy, Hidden Figures (2016), a moment of understanding:

Hidden Figures (2016) Directed by Theodore Melfi, Starring Taraji P Henson, Octavia Spencer and Janelle Monae. Produced by Fox 2000 Pictures

The FT have launched a financial literacy campaign with videos. It’s aimed at everyone – children and those who teach them as well as resources for adults. It’s worth checking out, if not helpful to you, perhaps to someone you know.

When I remember to say it, (regrettably not always) I am keen to reassure you and particularly any new clients that there are no daft questions. That our “room” whether physical or virtual, is a safe space for you to be you and ask the questions that you are nervous or even embarrassed to ask. Truly, I don’t get phased by questions, I may not have a satisfactory answer or perhaps not have one at all, but to me there is no judgement about a question. It is also my role to make things clear, so if I haven’t I need to do the work better or differently. So can I please reiterate that here and now.

There are no daft questions, you aren’t expected to know everything about money, or to be honest, terribly much. We all have different talents and experience, mine is trying to help you make sense of it, in the way a childhood hero Johnny Ball used to make maths alive in his “Think of a Number” show. Here he is

BBC Archives. Think of a Number (1977-1984)

References:

The Post Office Scandal: https://www.postofficescandal.uk/

Financial Times Literacy and Inclusion Campaign (FLIC): https://ftflic.com/

Johnny Ball Think of A Number: https://www.bbc.co.uk/programmes/m001fy15

Hidden Figures (2016): https://www.imdb.com/title/tt4846340/  

What we do: https://www.solomonsifa.co.uk/what-we-do/

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Do You Suffer Number Shame?2026-06-19T15:52:32+01:00

How About Some Actual Intelligence?

Dominic Thomas
Post written: March 2026  •  Published: June 2026
2 min read

How About Some Actual Intelligence?

It’s evident to anyone who has ever read a book without pictures, that the majority of world leaders are some of the most inept and corrupt people available from the 8.3 billion alive. There is a category of small-town fool that used to be the exception rather than the rule. Yet, here we are, all older, wiser, more politically aware of our choice of words and yet the United States is run by some of the most foolish people to self-identify as ‘leaders’. What I am always surprised by is the way that they are believed, followed and adored.

I know a number of you have enjoyed the deliberately slow pace of a barge holiday and some even own one, so I thought I’d share a true story that I learned recently which highlights the condition of blind faith.

A man had planned a family holiday on a barge, he had done some investigation into his route using ChatGPT (software) about the vessel, the route and the locks that he would encounter. He met with Ben, a young man who has been working on barges for some time and despite his youth was skilled in operating, maintaining and repairing a barge and was very familiar with the local canal network.

The man, wishing to display his newfound knowledge, asked about the route to the beautiful Roman city and drew attention to a stretch of five locks along the way. This seemed to make him anxious about the additional “work” and delay that it would cause him. Ben reassured him that it would take far longer, two days longer, to reach the first lock and this would be a small challenge, easily mastered and this would provide him ample confidence to tackle each of the remaining locks which were very similar and actually many hours and in some cases days apart.

He would not accept the young expert’s advice or reassurance, preferring to draw out his mobile phone and asking it for advice to go in the other direction. Ben listened, aghast at the nonsense that ChatGPT provided, listing obstacles and warnings that were in either in the wrong order or completely false. The man would not listen, choosing to rely on and believe the accuracy of his own ‘pocket expert’. Despite protestation and warning, Ben reluctantly bid him and his family farewell as they set off confidently in the wrong direction for their week long barge holiday.

In this age of individualism, it seems that many are happier turning to the ‘expertise’ of artificial intelligence, and placing a high degree of trust and confidence in the output. They fail to appreciate that artificial intelligence is largely pattern recognition software, cobbling together stolen (“scraped”) information from the web. We have begun to see the errors of this within financial planning already. Of misplaced faith in the ‘answers’ and lack of real understanding of the risks involved, creating a disastrous combination of confidence (and fear) in all the wrong elements. This is not simply going to create a minor delay or deviation, but a completely different result from the one intended, both much more expensive and disappointing.

Your financial plan is unique to you, based on your values, resources, skills and desired outcomes. This is what we have trained for, what we do all day long and have gained decades of experience at; meeting and helping countless people all trying to navigate their own financial journey. We may not be physically with you throughout every inch of your journey, but our skill is helping plot it, course correct, maintain and refuel, knowing when to put to harbour and when to set sail, to assess the conditions sensibly to minimise anxiety rather than to watch you head off in the wrong direction because of something you heard on the news, in the paper, online, in the pub or around your dining table or worse, from your phone. Beware of artificial intelligence, embrace and seek actual intelligence, or expertise, in a world that is complex.

References:

The Limitations of ChatGPT with Emily Bender: https://www.radicalai.org/chatgpt-limitations

The AI Con by Emily Bender: https://www.worldofbooks.com/en-gb/products/ai-con-book-emily-m-bender-9781847928610

Canals of Britain: https://canalrivertrust.org.uk/canals-and-rivers

History of Britains Canals: https://www.historic-uk.com/HistoryMagazine/DestinationsUK/The-Canals-of-Britain/

Inland Waterways Charity: https://waterways.org.uk/about-us/the-charity

What is financial planning: https://www.solomonsifa.co.uk/what-we-do/

Refer us: https://www.solomonsifa.co.uk/refer-us/

World Population: https://www.worldometers.info/world-population/

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How About Some Actual Intelligence?2026-06-17T19:02:39+01:00

Was this the biggest moment of the year?

Dominic Thomas
Post written: March 2026  •  Post published: May 2026
4 min read

Was this the biggest moment of the year?

We are all aware that all is not well in our own nation. You are right, society does need to change, but possibly not for the reasons you think. This is a political piece, it may offend you, that is not my intention.

As yet another person is murdered by ICE, and the Trump Government lie about it, attempting to justify extreme violence towards an ordinary person like you and me, calling the individual a domestic terrorist (again) as part of their plan to remove opposition or dissenting voices through intimidation, arrest and execution.

It is the total lack of remorse, accountability or integrity that is displayed. These people are who they show themselves to be, as much as some wish to pretend otherwise, they are fascists and they won’t stop grabbing power and wealth until they are ended and it won’t be by “democratic means”.

Here in the UK, thankfully we don’t have anything like the same level of weapons or guns, but remember the Reform leader and his candidates invariably support Trump or Putin in their authoritarian approach. They don’t condemn heinous crimes by them, in fact they want their own version, they want to copy it and they push false narratives about anyone not white. If anything, their push for Brexit and independence has made us more vulnerable and isolated.

I understand why poor people might feel unheard, disrespected, ignored and don’t seem to have many prospects in life, want change – but they are being lied to, that this has anything to do with skin colour or religion or people fleeing war, starvation and persecution. How things appear often isn’t how they actually are. It is the structure of society and the truly wealthy and multinational companies not contributing a fair share to the social pot. The marches and the flags are attempts to be seen, but are also designed to intimidate and threaten. This is deeply wrong and racist and not what Britain is. Our flag should be something to gather around in celebration of what we are today, not stolen by white nationalists trying to tell us what we are not. Epsom take note.

Those who are ‘well off’ (our clients) have money and financial security, with connections and a sense of place in society. Many of you pay a lot in tax, some of which I would agree is desperately unfair. However, as noted in Spotlight, tax rates are actually lower than they were 40 years ago. Our top rate of tax is 45%.

None of us like to see our money wasted, yes it is easy to spend other people’s money, yes you are not thanked properly, yes we have to acknowledge that you need to look after your own, the tax system isn’t good, it’s far from simple and far from perfect, I know that very well, but it’s that which needs to change, not simply to cut away from those who need our support so that we can have a thriving and just society.

We need entrepreneurs who create jobs and wealth and are encouraged to do so, but this should not be at the expense of people. Nobody needs a billion, nobody. Those who feel hard done by that make a lot of noise in the media really should reassess their good fortune. We also need artists, poets, carers, thinkers, therapists, medics, engineers, designers and community leaders to inspire us to better. We need proper investigative journalists to bring corruption to light and the law to act justly. We need each other – wasn’t that the learned message from the pandemic?

You know that London isn’t a war zone, that actually it’s a thriving city, in fact you prosper as it does. The only shame I feel about London is the fact that we have homeless people. They need help. We are told that we pay tax to support lazy people, yet it’s these people (people like me and you) who can largely select our hours of work for a good income. Yet the irony is that these beliefs and arguments are very reductive lazy thinking.  Granted, we may have worked hard, but we had opportunities, tools, sufficient encouragement, health and even the setbacks were things we could overcome, we don’t work 2 or 3 jobs with vile employers just to be able to feed ourselves. We have not lost any rights or advantages other than those reduced by Brexit.

Racism isn’t always deliberate or obvious, it’s born through the gradual acceptance and accumulation of bad data. We all have unconscious biases and fears. It is the continual work of character formation that helps understand ourselves and change. Often we need confronting about what we presume. It doesn’t help when we are fed easy answers to difficult problems, (who doesn’t want easy solutions!) by people who have no intention of understanding, but merely regurgitating their own badly formed opinions.

Racists eventually hate any minority in any form because they are afraid of difference. Just because Reform has some women and some non-whites in view, does not mean that they want this, as ever, it’s a means to an end (power) and if once established, you will see the same regressive policies as in the US…(yes Donald Trump does the window dressing with plastic women, he’s a salesman) which at best is a gradual removal of economic and social independence, dismantling democracy, but ends with no jobs for women, increasingly reducing their freedoms (no say, no vote, no personal property) and of course removal of anyone who isn’t on board with the white replacement nonsense. This is deceitfully packaged at true patriotism, or traditional values or even ‘Christian’. This is what far right is. Any male with a mother, sister, aunt, wife, daughter, niece or female friend should think very carefully.

There will inevitably come a point where I won’t be able to see the good in those whose default position is to defend the indefensible racist garbage, where people are viewed as non-people.

These are dreadful individuals, vile – yes that’s Trump, Farage, Musk, Theil, Fox and those that platform them and their inner circle. They don’t care about society and certainly don’t care about you and me.

There is a heap of evidence about all this, it is deeply concerning and pretending that it’s not the same here is naive – look at the way American democracy is being rapidly destroyed, listen to Mark Carney. As he said in Davos:

“We know the old order is not coming back. We shouldn’t mourn it. Nostalgia is not a strategy, but we believe that from the fracture, we can build something bigger, better, stronger, more just. This is the task of the middle powers, the countries that have the most to lose from a world of fortresses and most to gain from genuine cooperation.”

Of course, Trump attempted to chastise Carney in his own ‘speech’, but as ever, he can barely string a few words together coherently. As Greenpeace say, if you are not part of the solution, you are part of the problem. Hating is never a solution and we have a diverse group of clients who we like and serve.

Carney video: https://youtu.be/JnE2HTfDivQ?si=dz7qygn4Dfmims0W

Was this the biggest moment of the year?2026-05-03T22:04:07+01:00

Has the sales pitch become the prompt?

Dominic Thomas
April 2026  •  3 min read

Has the sales pitch become the prompt?

One of the many criticisms of financial stuff is its inaccessibility – the jargon, terms, mathematics and mountains of tax rules that are embedded in ‘the system’ which seems stacked against the ordinary person. When I started in financial advice in 1991,  it was largely a world of sales people and administrators; some very well paid successful sales people and an awful lot of ‘failed’ salesmen with huge debts unable to make ends meet each month.

Training requirements were initially met within a few days, before you were unleashed on your audience, which for most of them was their personal address book. It was crucial to learn a sales script. Perhaps you met some of them – Milldon, Merchant Investors, Allied Dunbar, Cannon Lincoln, Laurentian and even ‘the man from the Pru’. This culture resulted in a lot of bad advice by commission-hungry salespeople and the result was lasting damage to trust and a massive increase in regulation.

Scroll forward three decades or so and our own training programme is three years (minimum) to become Diploma qualified and potentially a further seven years or so to become Chartered. Technical understanding has rightly brought about knowledge requirements. The number of ‘advisers’ has fallen from about 200,000 to around 27,000 – a reduction of nearly 90%.

It’s 2026 and ‘AI’ (a marketing term, not a thing) is still in its infancy since 1956, but already being used to offer up answers to technical questions. Unfortunately, being able to trust the accuracy of the answers is more than a little problematic (you shouldn’t). As with other forms of media, when your own field of expertise is covered in the news, you appreciate how poorly it is understood by those forming the questions and presenting their findings.

It doesn’t help that our culture celebrates the wealthy like Bill Gates, who offers opinions on any topic which sound authoritative; making unfounded and highly improbable claims about technology – in particular that it will replace doctors and teachers.

The noble intention of helping to democratise information is, it seems, deeply flawed, you really need to understand context and the question you are asking with implications that you aren’t aware need consideration.  We see this all the time, and politicians play the game, presenting baseless easy answers or raising common observations without any real depth of thought or application.

There are times that I wish I had known in 1991 what I know today, but it is the process of hard learning and building experience that are so vital when faced with real life matters. It’s also why our training of new advisers isn’t ‘high speed’. The temptation of AI is the speed of ‘learning’.  I have even been encouraged to offer you a better looking digital clone of myself to interact with you rather than build a team of people.

As the number of advisers has reduced and complexity increased (created by the sector, regulation and Government policy), the cost of advice and running an advisory firm has risen enormously. The salaries, software and tools have replaced self-employed advisers with a desk, phone and dictation machine.

‘Free’ AI tools and DIY services all, understandably, have appeal to many.  In fact as some will argue, the real goal of AI is to remove wages. However the thing that has been forgotten in this transition to adviser expertise is that money is deeply personal and financial planning is not about transactions, but about helping draw out deeply held beliefs, values, baggage, myth and aspiration and navigating the deliberately crafted landscape of a world filled with fear and greed.

It is the soft skills and critical thinking that have been largely ignored by regulation and a sector obsessed with numbers and speed. My concern with AI being widely used is that it is not designed to serve the interests of the individual posing the ‘prompt’. It largely is designed to remove as much human reflection as possible, whilst feigning understanding and nuance, whilst being steeped in bias. The real beneficiary of the AI answers are the owners of the technology, which is built on theft (data scraping) of other people’s work.

The pattern recognition system is ‘alive and well’ in flattering your ego with what you want to hear rather than what you need to hear. The problem is that we don’t appreciate how important this is until it’s too late.

It is the questions that we don’t know to ask, that we need to ask. This is where the human experience, actual reality, is so alive and necessary.

To be crystal clear, technology brings lots of helpful advantages, but it is a tool not a replacement for humans. It is not ‘better than nothing’; its far worse than nothing, particularly when ‘nothing’ is often an inexpensive book (or a free one in a library).

References:

The AI Con by Alex Hanna and Emily Bender. https://thecon.ai/ (don’t buy it from Amazon, that’s another story).

The history of AI and Eliza https://liacademy.co.uk/the-story-of-eliza-the-ai-that-fooled-the-world/

Bill Gates comments on AI: https://www.cnbc.com/2025/03/26/bill-gates-on-ai-humans-wont-be-needed-for-most-things.html

Retail Distribution Review: https://publications.parliament.uk/pa/cm201011/cmselect/cmtreasy/writev/rdr/m188.htm

50 Years of Regulation: FT Adviser (2016 David Severn): https://www.ftadviser.com/content/9de58b26-925f-522d-9bf7-faaf7feba22d

FSA Review of Polarisation (July 2000) https://londoneconomics.co.uk/wp-content/uploads/2011/09/106-Polarisation-and-Financial-Services-Intermediary-Regulation.pdf

HM Treasury FCA Financial Advice Market Review March 2016 https://www.fca.org.uk/publication/corporate/famr-final-report.pdf

How commission worked – Money Marketing (April 2001) https://www.moneymarketing.co.uk/news/out-with-the-old-in-with-the-new-style/

Money Marketing – The future of regulation (Simon Collins June 2022) https://www.moneymarketing.co.uk/opinion/financial-services-regulation/

FCA sector RMAR data 2024 (November 2025) https://www.fca.org.uk/data/retail-intermediary-market-data-2024  and data about adviser numbers: https://www.fca.org.uk/data/retail-intermediary-market-data-2024/retail-intermediary-market-interactive-analysis-2024#staff

FCA – The Mills Review The Impact of AI on financial services markets, a research initiative closing on 26 February 2026. https://www.fca.org.uk/publications/calls-input/review-long-term-impact-ai-retail-financial-services-mills-review#lf-chapter-id-your-thoughts-on-the-longer-term-impact-of-ai-on-retail-financial-services-

Solomons set up in 1999 without commission. https://www.solomonsifa.co.uk/financial-services-sector/

 

Has the sales pitch become the prompt?2026-04-21T15:09:30+01:00

Financial transparency

Jemima Thomas
Jan 2024  •  2 min read

Do you know who you’re sleeping with?

I spotted a BBC news article about a man who had a gambling addiction and ended up slowly stealing £1.3 million from his work place, to continue his betting addiction.

Initially Andy May (now 47 with a wife and two kids) was just a weekend gambler; at the beginning spending as little as £5 – £20 ‘for fun’.  As his gambling activity continued, he began winning more money to play with (and more ability to borrow); and so the amount he would bet began to increase. Unfortunately, it got to a point where Andy had been stealing from his employer for a period of four and a half years. (For context do read the article fully – he used to be the finance manager for his employer).

Andy ended up in prison rather unsurprisingly, but the most intriguing part of the story is how his ‘problem’ went on for so long without being spotted (both in his professional and personal life).

It’s important for couples (and business partners) to have financial transparency. The habits and addictions of another can seriously damage your relationships and wealth, and it’s why we insist on clarity about your spending habits.  It’s also why (if you are in a couple) we encourage both of you to attend meetings together.

Historically (although definitely not always), men tend to take the reins on financial decisions; but we work hard here at Solomon’s to ensure that all decisions that impact both of you are made collaboratively.  We aren’t marriage counsellors, but we sometimes pose uncomfortable questions – we hope that we are a ‘safe space’ for people to bandy their ideas around (including concerns and fears).  These questions aren’t ever meant to ‘trip you up’ – they are intended to challenge you and make you think carefully about what is important to you in your life.  It’s not an easy part of our role as your financial planner; but it’s an important one.

Read the full article here: https://www.bbc.co.uk/news/uk-england-norfolk-67503468

Financial transparency2024-02-01T09:21:20+00:00
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