What is Trust?

Dominic Thomas
March 2026 • 3 min read

What is Trust?

At the heart of every good relationship is trust; when it is broken, the relationship will struggle. Sometimes it is possible to repair it, often it is not. A recent event I attended in London for financial planners offered up a talk by Rachel Botsman, author of What’s Mine Is Yours: The Rise of Collaborative Consumption (2010) a provocative title if ever there was, and more recently Who Can You Trust (2017) and more recently still How to Trust and be Trusted (2025). I have not yet read her books. She is a celebrated podcaster, lecturer at Oxford University and with a Fine Arts Degree, an artist. Significantly she is a “global authority on trust” though quite what this is based on is unclear to me.

Anyway, she provided an interesting talk, some challenges and posed the argument that managing risk is not the same as managing trust and many financial advisers think they are doing one, whilst actually doing the other.

She described these issues as two lenses – risk being about certainty, control, compliance and protection, whilst the lens of trust being uncertainty, confidence, empowerment and possibility. She made some really insightful points about what advisers might do to help our clients reduce or understand risk, whilst also improving trust. In essence, this came down to capability (competence and reliability) fused with character (integrity and empathy).

There were some good lessons that I shall think on and attempt to shape for your benefit. As ever, I tend to be circumspect about what anyone on a stage or platform tells an audience. I was perplexed when she posed a couple of questions. Firstly, she put up three logos – Tesla, Meta and ChatGPT and asked the conference hall delegates to applaud for which they thought was the most trustworthy of the three.

Then she put the images of the CEOs of the same companies (Musk, Zuckerberg and Altman – three white men) and asked us to boo for the one we felt least trustworthy.

I can only speak for myself, but none of these men strike me as remotely trustworthy. They are all billionaires and have well documented histories of breaches of trust and legality, seemingly appearing to be above the law. It may not surprise you that I booed rather loudly for Elon Musk, when Botsman returned to ask people why they had made their selection. As you can imagine, I had a few very choice words to say on the topic. There were a few tuts from my 400 peers (quite a lot of them are Tesla ‘owners’) and she simply said “I was hoping not to get political”.

Whether you agree with my opinion of him or not, I don’t think I brought the politics into the room, it was already quite deliberately there. Maybe I misunderstood the assignment (it wouldn’t be the first time). Anyway, I could have said – well I don’t like him because he bought Twitter and made it a mouthpiece for extremism. That he won’t disable or remove the ability of his AI Grok to turn pictures of you and yours into pornography. I could mention his funding of far-right political parties around the world and here in the UK, or his many misogynistic statements, or replacement theory, his involvement with Trump and short-sighted arrogance with his childish ‘slash and burn’ DOGE antics. He appears to use his own children as human shields and manages to persuade women to have more with him, treating them like transactions. There are questions about his technological involvement in elections and despite his vast wealth, he uses it simply to fund excess and rocket tests rather than solving real problems here on earth. He complains about immigrants, despite being essentially a white South African that never opposed apartheid and is now in permanent exile. No I don’t like him and his interference, lies and utterly inappropriate commentary about “the state of Britain”. Yes I did see him do a Nazi salute and refuse to pretend it didn’t happen. It seems that the biggest ‘sin’ these days is naming things (like racism) as they are rather than actually being so.

So, ok – maybe I did bring the politics to the forefront, but I didn’t bring them into the presentation.

But this is about trust and integrity right? I think the ability to challenge narratives with the aim of shining a light on truth wherever it leads and however exposing it may be, are part of having integrity.

Rachel offers up a number of tests that we can try out exposing how our search for familiarity may offer up inaccurate trust signals, but that these are foundational in our early development. We look for familiarity in others to help us trust, backgrounds and appearance (even looking similar to ourselves) all play a part in this and form an unhelpful confirmation and desirability bias that facilitates trust, without any ‘real’ information. This also goes to the heart of AI and the trust being placed in systems that regurgitate familiar, not necessarily truthful answers.

Interesting though. I wonder what you think? I’m genuinely curious.

Anyway, I will be adding to Rachel’s coffers at some point to read her work in more detail, it’s certainly interesting and relevant for the moment and she is an engaging communicator.

Ref: https://www.rachelbotsman.com/

https://www.sbs.ox.ac.uk/about-us/people/rachel-botsman

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What is Trust?Jemima Thomas2026-03-06T11:09:26+00:00

Are Giants Falling From The Sky Yet?

Dominic Thomas
Feb 2026 • 3 min read

Are Giants Falling From The Sky Yet?

We have all heard the warning “be careful what you wish for”. Stephen Sondheim reminds us, using the most basic of story forms that wishes have consequences, in his musical Into the Woods. Sondheim brings together several well-known fairytales, Little Red Riding Hood, Jack and the Beanstalk, Cinderella and Rapunzel into a funny and poignant musical yarn for adults.

The lasting lesson is that each of the characters want something more from life, something that they believe they lack, that this will make their lives complete. By the end of the first act they have all had their wishes granted and should thus be living happily ever after. However, this is the real world and everything has a consequence.

The paths we choose and the manner in which we attempt to attain our desires have an impact on others and ourselves. This is obviously not a new idea, though it would seem that the concept of actual accountability is something that many adults will do almost anything to avoid and ignore. Take the Epstein files and those in ‘elite’ powerful circles who are caught up in this vile network of villainy, including ‘our own’ royal family, politicians and businessmen. The similarities with fairytale characters is remarkable.

The arrogant entitlement of princes, the scheming consumption of the wolf, the wicked stepmother enslaving children, the witch locking away a child, the baker and his wife so desperate for their own happiness that they will do anything. The foolish Jack who will steal to impress, not simply survive and will sell his best friend for a few beans. The vacuous stepsisters who delight in despise and the steward “I don’t make policy, I just carry it out”. The young girls, becoming young women, who are prevented from exploring who they are and might be. Jack’s widowed mother, frustrated by her inept son and struggling to survive in a system that actually does not reward hard work.

Fairytales were always meant to be broad warnings about life, identifying common fears and making light of them. The journey to adulthood is far from an easy one, we all go into the woods and despite healthy feelings of anxiety tell ourselves that “the woods are just trees, the trees are just wood”. Denial, as any therapist will tell you, is an incredibly powerful force.

Still, we live at a time when liars are in power (or seek it) and will do whatever they can to protect their own interests and have little, if any, regard for yours and mine. Truth has become shaped by those who own the looking glass, poisoned apples are sold by the basket. Vanity, greed, envy and power have welcomed hatred and truth is the victim that lies centre stage whilst stepped over, around and ignored.

We all have an ability to resist reality, we are all capable of drawing from the deep well of denial, but a proper conversation about your values and hopes for life means confronting some truths, choices, paths and crossroads. Your financial plan might be a map in a deeply flawed Kingdom, but you still get to make the choices, select the path and decide what is important, necessary and actually fulfilling. Be wary of those playing the proverbial golden harp of things you wish to hear – comforting lies – and those offering a constant supply of golden eggs, the truth is that our choices have consequences, both personally, locally and internationally. A great financial plan isn’t wishful thinking, it’s grounded in your values and adapting to the unfolding reality. It is your story.

Over the coming months, hopefully (please) we will see some justice, but beware of giants falling from the sky – they leave an impression.

Some 40 years after its premier, Into The Woods directed by Jordan Fein is currently performed at The Bridge Theatre (near Tower Bridge) and is a marvellous production. Kate Fleetwood plays an impressive Witch with a real ensemble cast. Into the Woods runs until Saturday 30^th May 2026. The performance that I saw was fabulous, click this link for (tickets) and here is the official trailer.

Careful the things you say, children will listen. Careful the things you do,
Children will see and learn. Children may not obey, but children will listen. Children will look to you for which way to turn, to learn what to be. Careful before you say, “Listen to me.” Children will listen.

Stephen Sondheim, Into The Woods (1986)

#Release the Epstein files.

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Are Giants Falling From The Sky Yet?Jemima Thomas2026-02-19T13:18:57+00:00

The integrity of a sandwich

Dominic Thomas
Nov 2023 • 3 min read

The integrity of a sandwich

We all remember the credit crunch and the general ill-feeling towards bankers, perhaps you missed the story of the credit munch? Whilst the Credit Crunch lasted, well…truthfully the long term ramifications are still with us, but it really ‘started’ (became apparent) in 2007. The credit munch took place in July 2022 and lasted about a year.

A financial crime analyst with Citibank was on a business trip to Amsterdam. It appears that Mr Fekete forgot (see what I did there?) to declare that his partner joined him on the trip. They put a very modest sandwich lunch on business expenses, claiming £86.70 of the £100 daily allowance.

Mr Fekete’s managing supervisor queried his submission and wondered whether Mr Fekete had indeed really consumed two sandwiches and coffees. Here I must claim that my own personal battle with a good sandwich does not immediately conclude that such an appetite is implausible; but merely a little excessive… mea culpa! Anyhow, Mr Fekete didn’t confess that it wasn’t simply him and that he had in fact shared lunch with his partner. He was dismissed for breaking company policy of claiming expenses for his partner as though his own. In essence, Citibank concluded that he was dishonest.

A series of emails providing some “optimistic circumstantial rationale” for his forgetfulness was not accepted by a judge, as Mr Fekete took his employer to an employment tribunal for unfair dismissal. It seems that the judge agreed with Citibank that the employee should have owned up when challenged and then been given the opportunity to correct his error of judgement.

The judge said “I am satisfied that even if the expense claim had been filed under a misunderstanding, there was an obligation upon the claimant to own up and rectify the position at the first opportunity. I accept that the respondent requires a commitment to honesty from its employees.”

So, it seems that Citibank are holding their employees accountable and expect honesty from them. Perhaps this is a sea-change at the Bank and within the sector. After all, it was only last year that Citigroup were fined £12.5m for failing to properly implement market abuse regulation (which was a discount of 30% for admitting failure). In the context of all the ills of Banking, I suspect you will agree that this all seems rather trivial in comparison to a Credit Crunch, LIBOR fixing and so on. However it does speak to a culture of integrity and when your employed job is upholding it, it is hard to fathom why on earth Fekete didn’t simply own up.

I’m reminded of Richard III shouting “A horse, a horse! my kingdom for a horse!”. How little it takes to lose everything. That was some meal deal.

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The integrity of a sandwichJemima Thomas2023-12-04T12:15:11+00:00

Who do you trust?

Dominic Thomas
Jan 2023 • 5 min read

Who do you trust?

To my mind we have always lived in a world of false information. Stories and myths, urban legend all exist to serve someone’s perspective. Since the days of modern ‘propaganda’, we have been warned of careless talk and the enemy around the corner. In the last few years, largely though not exclusively due to the arrival of the internet, facts and mis- or rather disinformation coexist. We have to decipher and frankly that is not as easy as it should be. Most conspiracy theories contain an atom of something that seems to be plausible, but is then expanded and extracted.

This week we have witnessed more political folly as Government attempts to reign in some of its own that have crossed the line of reason. When we see extremity we tend to regard things as ‘obvious’.

I present Richard Rufus, former Premier League defender for Charlton Athletic, indeed in 2005 he was voted “Charlton’s greatest ever defender”. Like many a sports celebrity and Premier League player, he was well remunerated. High profiles and substantial income in our current culture, come hand in hand with an expensive lifestyle and costly habits.

After a career in football, many players struggle to adapt to life outside of the spotlight and without the same financial rewards. Few are able to continue to earn anything like their player wages. Whatever the reasons, like many players, celebrities and frankly most people, Mr Rufus appears to have spent most, if not all of his income. Whatever savings he had were clearly not sufficient to support his lavish lifestyle, which he was unwilling to relinquish.

A lavish lifestyle provides the appearance of financial success, but what is visible is largely immaterial. I’m often struck by how many people have a car that costs north of £60,000 yet have very little savings; who spend on cars and holidays more than they save for their future … but I digress!

Mr Rufus turned his hand to financial scamming. Not the sort of arms-length, call centre scamming, but the up close, personal relationship, scam your family and friends type of scam. The detail of which can all be found online following the Court’s decision to find him guilty of a £15m fraud which has resulted in a seven year prison sentence. Defender turned offender.

I don’t know Mr Rufus, I have no axe to grind. He wasn’t a financial adviser and reports indicate that the process of the scam was much like the advice you might seek from a friend at the pub … or more likely gastro pub or bistro. The mechanics of the scam involved foreign currency (often the case), no legitimate regulation (also often the case) and persuasion with what the eyes see and what the ears wish to hear. “It clearly works for him, look at his lifestyle”.

The fact is that at the heart of this there are problems that are universal. Firstly, few if any of us wish to reduce our lifestyle, however you define it. Most people are not good at holding onto the money that they earn, inherit or win. Most of us are not good at discerning the cost of a lifestyle either now or in the future. It’s far easier for us to account for how we would spend an imaginary lottery win than how much it will cost us to live as we are for two, three or four decades once we are retired, or frankly what we spend each month now. We are all tempted by the illusion of get rich quick solutions, starting your own business, writing a best- selling book, setting up a social media account where the ‘likes’ are followed by pounds, or of course the next big one, cryptocurrency or whatever you fancy.

The truth is much harsher. It’s a long, slow process, full of setbacks as well as successes. As for advice from friends and family … well I don’t know them, actually scratch that, I do know some of them, you refer them to us … but suffice to say that qualified, regulated, impartial, non-judging, prudent, long-term, evidence-based, evidential advice is likely to be of greater value with no vested interest in whether you holiday in Bournemouth or the Bahamas; Charlton or Cuba.

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Who do you trust?Jemima Thomas2025-01-28T09:56:36+00:00

BETTER NOT CALL SAUL

TODAY’S BLOG

SELLING TRUTH YOU WANT TO HEAR

One of the TV series I enjoy is a spin off from Breaking Bad – Better Call Saul, which you can find on Netflix. In simple terms it is the story of James “Jimmy” McGill who is the younger wayward sibling of two brothers. Regularly in trouble, Jimmy is nothing like his responsible, pedantic brother Charles who is a very successful lawyer. Despite their differences, Jimmy is close to his brother, tending to a peculiar illness which is debilitating.

Jimmy is a low-level conman, who has a talent for spotting a fool and parting him from his money as most confidence tricksters do. His observational skills and self-confidence combined with a malleable relationship with rules are the perfect combination for selling a different version of truth, a lie that people want to believe. It becomes apparent to him that perhaps being a lawyer requires a similar skill set. Most believe that lawyers are crooks with a Degree and Jimmy can smell opportunity.

The numerous series chart his misdemeanours, and these run parallel to the mirroring characters of the drug world. Instead of law firms and partners, read gangs and cartel all pushing the same freedom fix, but with grave penalties for error.

TO WHAT PURPOSE?

The series raises lots of relevant questions – fundamentally what is our purpose? Who is Jimmy? Why is he endowed with the skills he has and how could these be put to more rewarding, purposeful use. We witness him genuinely attempt to do good, to remove or reduce harm, to expose corruption and to protect the vulnerable, yet his efforts are met with the resistance of indifference and judgement that prevents him from straying outside of his box. A societal box that others have placed him in. This is of course particularly timely as we all consider the challenges that face anyone that is genuinely interested in equality, justice and fairness.

It isn’t often that I would encourage you to pay attention to someone that is essentially a corrupt lawyer, but there are many valuable insights to be found. These are as basic as understanding the mechanics of a scam, hiding in plain sight and how to find hidden fees. However we also have to face the reality of understanding depth, capacity, risk and the difference between problems and trouble.

Many of the problems that Jimmy faces are problems that many of us may experience at some point – whether that’s the importance of a Will, care costs, business partnerships, deals and the value of what we provide to others. However at its heart of the story is the strength and weaknesses of relationships – whether that’s between siblings, employers, family or friends. Jimmy is largely making decisions in reaction to those relationships, as are others. Every character has a story but as ever, being able to see the solutions to your own problems is often aided by an impartial other.

One of the lessons I have been reminded of this week, today in fact, is that as a planner, I help provide objectivity and accountability – helping clients keep on track with their stated values and plans for a great life. Jimmy could have had a very different story if someone had shown him how his skills could be applied, if he had received the right support and encouragement. It may not have been as dramatic (and worthy of a TV series) but it would certainly have ensured prosperity in the fullest sense of the word.

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 [email protected]

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GET IN TOUCH

Solomon’s Independent Financial Advisers
The Old Mill Cobham Park Road, COBHAM Surrey, KT11 3NE

Email – [email protected] Call – 020 8542 8084

7 QUESTIONS, NO WAFFLE

Are we a good fit for you?

Take Survey

PRIVACY POLICY | DATA PROTECTION

BETTER NOT CALL SAULDominic2025-01-28T10:08:04+00:00

The Eye of Truth – Mindhorn

Solomons-financial-advisor-wimbledon-blogger

The Eye of Truth – Mindhorn

It seems that we are living in a time of “alternative facts” of course we aren’t it is merely that certain politicians and business leaders wish us to believe their point of view rather than reality. So perhaps there is a certain sense of good timing for a bionic eye that enables truth to be seen. However, as with most things, the irony in this instance, is that the possessor of the bionic eye, (Mindhorn) is blind to his own shortcomings.

Mindhorn is a new comedy about a TV actor “Richard Thorncroft” (Julian Barratt) playing a detective “Mindhorn” in the 1980s. Now many years later, the type cast, washed up actor is struggling to maintain his dignity in a world that has forgotten him. He is rescued by a serial killer; whose own delusions mean that he believes that Mindhorn is real. As a result, reluctantly the local Police call in Mindhorn for one last performance to entrap the villain.

Bodie & Doyle meet Steve Austin and Knight Rider

Being comedic, this has the potential to be a rip take of any and every TV detective since Bodie and Doyle at CI5 with references as broad as the lapels. How one man is stuck in the past of his glory days and failing to embrace the present, or indeed the uncomfortable truth of reality. Sadly, the film, like many, has all of its best bits in the trailer. There are some funny moments, but this is a fairly tame affair which could have been so much better, despite being rammed with an impressive collection of actors, who all must have also thought that the concept was good, but the final delivery…. Hmm. Take comfort in the fact that there are as many twists as there are in a straight piece of wood, which certainly could not describe the acting, but recycled pulp is probably not far off the truth about the script.

Former Glories

On occasion, we all meet people that are an echo of their former greatness. Whilst I can accept that with age limitations do apply, particularly the laws of physics! It seems such a missed opportunity to not live fully irrespective of age. I’m sure that like me, you meet many that do. Retirement can seem like a fairly scary subject for some people. What on earth will they do with their time? Just endless rounds of golf and bridge? Well, I can assure you that the retirees that I advise all have very active lives, in fact most are more active than ever before. I’d argue that retirement is nothing to fear at all – infirmity however, well, that’s a different thing entirely.

A Vibrant Retirement

So any financial plan, should really be set up for a full and vibrant retirement, one that reflects what you wish to do and how you intend to spend your time. Of course things may change over time and for some, infirmity may become an unwelcome compatriot, so some thought also needs to be given to the “what if?” of this prospect…. Which may or may not occur.After all, even the Duke of Edinburgh has only just annoucned that he will “retire” later this year – and he’s 96 in a few weeks time! Financial planning is very much about taking a look into the future and making some changes now, if you don’t like what you see (albeit with loads of assumptions). It is never a sense of constantly trying to restart the glory days like Mindhorn. There are some things that need to grow, some that need to die and some that simply need to be tried.

Here’s the trailer for Mindhorn. It makes a compelling pitch as a comedy, but sadly lacked the final punchline.

Dominic Thomas
Solomons IFA

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The Eye of Truth – MindhornDominic2025-01-27T17:01:51+00:00

Julieta

One of my favourite Directors, Pedro Almodóvar has a new movie out. Julieta. As ever it is a sumptuous, pithy film that uncovers the dark and deep dysfunctions within various relationships. Julieta is the story of a woman ravaged by guilt, though the sort that is taught rather than deserved. We see a modern sophisticated woman thrown into reflection due to a chance meeting with a friend of her daughter uncovering a history that needs re-visitation.

Not being Spanish or Catholic, it is hard to fully grasp the deeply imbedded cultural dynamic that is evident in much of Almodóvar’s work. Shakespeare would probably grin at his use of timing, misunderstanding and the communion of words without understanding, the essence of dysfunction within any or perhaps every family or relationship.

Your Canvas

I don’t wish to give the story away, it is worthy of 1 hour 39 minutes of your time if simply to remind us all that honesty is a vital element of a healthy relationship, not simply with others but also with ourselves. The lack of honesty and the inability of those closest to provide the environment for its great unmasking, creates the dramatic tension that shapes the path that this and many other stories run.

When I am seeing clients, there have been numerous times, when it is clear to me and to the client, that nobody seems to have asked the important questions… “Who are you?” and “What are you doing here?” which I mean in the deepest sense I can muster. The answers to these questions are of course not as easy to provide, invariably requiring a life-long sojourn or a form of Socratic scrutiny. This is a journey that both Julieta and her daughter Antia embark upon but without possessing the facts or reliable confessional support.

How we all ponder our deepest reflections needs considerable care, Narcissus didn’t do so well in this regard, which is why a.n.other is so important in the process of discovering and why as a financial planner, my role is not to grant wishes or paint canvases of colourful dreams but to help find the corners of what it is that you value, to help provide a form and shape that has sufficient meaning to be a life well spent. The money part… well, that’s just the tools to get it done.

Here’s the trailer.

Dominic Thomas
Solomons IFA

JulietaDominic2025-01-28T13:29:14+00:00

So where are our blindspots?

So where are our blind spots?

The new movie Spotlight is both horrific and brilliant. It is in the same genre as “All The President’s Men” but is about the story of a local community that ignored the child abuse in their midst at the hands of the local catholic church. The collective blind spot on many levels in all walks of life.

Whilst the story is fascinating and a triumph of investigative journalism, the subject matter is of course alarming. Yet whilst we may be disturbed by the, frankly deliberate corruption, there isn’t the typical easy solution of laying the blame squarely at one person or institution. There is very much a sense of collective failure to act on the seemingly obvious.

Don’t misunderstand me, clearly the perpetrators are responsible for their horrendous actions, but the film also exposes the problems of a culture that doesn’t wish to rock the boat if “best interests” are to be served.

A Painful Truth

The great sadness of the film is the damage that is done by the abusers, who largely appear to continue their unrepentant behaviour. Yet of course, whilst this is set in Boston, the uncomfortable truth is that most abuse does not happen in the church, it happens in homes, across the country in alarming numbers…. in our own villages, towns and streets. Yet, I imagine that few of us are confronted by this reality, perhaps I’m wrong.

The truth is often painful which is of course why we generally wish to avoid it. It is easier to believe that abusers damage a small number of people and get caught. The truth is perhaps rather different. The issue of child abuse is of course incredibly delicate, but the mechanics of our ability to see or confront the truth applies to all aspects of life. Our relationship with immigrants, our foreign policy, our sale of weapons to hideous regimes, our spending habits and addictions.

Having a financial plan that is based around your own values will to some degree reflect your ability to face and handle the “truth”. Financial planners are not magicians, we cannot make pain go away, we can help identify your values and goals and build a plan around them, but we cannot cheat death or illness or disaster. We can insure against them. I wonder sometimes if some people do not have a financial plan, because of a reluctance to hear or see the truth of their current situation as any decent planner will be suggesting some changes to behaviours, which may be uncomfortable. The truth is that we all feel like this at times, but at some point, recognise that the truth is far better than denial.

The movie is now out here in the UK and has some great performances, here is the official trailer.

Dominic Thomas
Solomons IFA

So where are our blindspots?Dominic2025-01-28T14:35:26+00:00