Sharing is caring, right?

Jemima Thomas
Feb 2023 • 4 min read

Sharing is caring

Netflix recently announced they might just be changing up the game for us folks. If you haven’t already heard, Netflix recently revealed that they will soon be implementing a no sharing password policy. Essentially, by tracking information through IP addresses, device IDs and account activity, Netflix planned to work out which users were logging in from different locations and therefore step in if it believed the account was being used by a non-household member.

The news concerned many of us who perhaps split the monthly bill with other family members or friends who live in different households, students and those who could really do without an added cost during a ‘cost of living’ crisis. Lots of people (myself included) also enjoy streaming Netflix when they travel, which would also no longer be doable.

Unsurprisingly the news did not go down well for many Netflix subscribers and many took to social media to express their outrage and concerns. The backlash forced Netflix to make a statement that the new password policy wouldn’t be coming into play for everyone just yet, and that it is now going to be rolled out this year in Canada, New Zealand, Portugal and Spain.

On the one hand it makes total sense that Netflix may want to cap sharing passwords; they’ve definitely underestimated how many people would do this, and I’m sure although the loss is barely significant in the media world, it’s something they should’ve factored in during their initial launch. However, after seeing the social media hysteria it’s already clear that consumers aren’t afraid to share their opinions, and Netflix has a similar approach by quickly responding to their subscribers.

It’s clear there is real power for the consumer when it comes to making changes (even at large firms like Netflix), which is no different from how we operate (in some ways!) here at Solomon’s. Good or bad, we are always after feedback because we want to continue to ensure we are providing the right service for our clients. We’re very happy to make changes to improve what we do for our clients and how we do it.

So, if you have any feedback for us, please do get in touch, and if you have a Netflix account that perhaps friends or family members use in a different household, beware of change on the horizon.

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Sharing is caring, right?Jemima Thomas2023-12-01T12:12:37+00:00

Financial Planning in a Box

Solomons-financial-advisor-wimbledon-blogger

Financial Planning in a Box

It is easy to believe that the world is an unsafe place, full of people determined to do us harm or ill. We all know about the continuing extremism and acts of terror, but are increasingly aware that the answers provided by world leaders seem misguided at “best” and “just as bad” at worst. Politics is one way we tend to divide ourselves into camps of allegiance, yet this is simply one of many ways to put each other into a box, indeed perhaps your understanding of financial planning is in a box – or a certain type of box. Perhaps we could remember more about what we share alike than what differentiates us.

Tick Box Approach

Marketing is perhaps the ultimate tool for putting us all into a specific box and if this is done to identify who might benefit from a product or service, then there’s nothing that I can see that’s wrong with it. We might exclude ourselves or be excluded for good reason, the problems come when we are excluded without any valid reason. It ought to be win-win if I am excluded from the mailing list of skydiving weekly – I have no interest in skydiving and cannot believe that this would change. Those marketing skydiving courses or related products are not wasting their resources attempting to offer me great deals. That’s a win-win as far as I can tell.

Outside the Box… or how about a different box?

So, I was challenged and encouraged by a TV advert “All That We Share” from Denmark (and no I’m not on their mailing list either!). A friend shared it and it is a great reminder that the boxes we put each other in can vary enormously, yet the media (not all) and politicians (not all) seem intent on placing us into more limited, confrontational boxes. Its title might have a message for those of us that use social media too – what we share, how and to whom. Anyway, have a look for yourself.

The financial planning angle…

What has this to do with financial planning? Well very little – except to say that your financial plan should be about your life, your values and your future, not the things you think advisers want to hear (a yacht, fast car, enormous house and huge portfolio). These might have a place in your financial plan, but until we meet to discuss it, I’d rather assume nothing and wait to hear your story.

The right fit

So, when it comes to our own marketing, we are looking for people that we can help. That means – helping to improve, organise and structure what you have better, so that it works for you, saving you time, reducing anxiety and bringing about a sense of “peace of mind”. Obviously, we need paying, which means you need to have resources to do so, but its more than that – it’s also for people that are looking for a long-term professional relationship from which we can work on your plan together.

Anyhow, here is the video.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk

Financial Planning in a BoxDominic2023-12-01T12:18:51+00:00

Remember that an apprentice has much to learn

I wonder if you watch “The Apprentice” on BBC? I’m not an avid fan, but its an interesting show about how some people “do business”. I appreciate that this is a cut down, edited version of anything approaching reality, however the episode that I saw the other evening (8/14) was rather revealing about attitudes to the over 50’s.

The task for the two teams was to design a dating website, make an accompanying video and outline a promotion or marketing plan to a group of advertising experts. Not terribly difficult one would think – the sort of stuff that many school age children do as part of their learning process and team work. Sadly, this was beyond the abilities of the two teams, or at least this is what was suggested. However, despite the collapsing team leadership, inability to think creatively or understand the purpose of market research or frankly how to “pitch an idea” what was more disturbing was that these “self appointed hot shots” had little or no understanding of anyone over the age of 50. The team that selected this group as their target audience, completely failed to gain a modicum of clarity about lifestyles for those over 50 years old. Essentially the assumption was that they were very dull and not interesting.

As someone that is closing in on a half century myself and generally works with those older than 50, I am alarmed at how short-sighted the next generation of “hot shots” are. Anyone with an ounce of understanding will probably appreciate that the vast majority of “successful” people are over 50 and by successful I could mean have achieved financial success, but frankly simply having a body of work to show for effort is generally only beginning to show at 50. Most business people, academics, medics, professionals, civil servants, politicians do not reach “fame” until in their 50’s (if fame is even sought). Even Hollywood’s most adored men Brad Pitt and Johnny Depp turn 50 this year (George Clooney already being 52). The most age biased industry (popular music) is full of people over 50 (Mick Jagger is 70 next month).

Of course, those over 50 may have a different outlook on life (they may not) but life certainly does not stop. My clients lead full and interesting lives, those that are retired often complain to me that they are busier than they ever were when they were working for a living. I don’t agree that 50 is the new 30, that seems to merely ignore the point and arguably reinforce a stereotype. 50 is 50, however old you are, attitude and lifestyle are choices. As for the young apprentices, one can only hope that they garner some wisdom quickly and perhaps reflect on the question… if you are so great at business, why are you on a TV game show?

Dominic Thomas – Solomons IFA

Remember that an apprentice has much to learnDominic2023-12-01T12:23:42+00:00