Welcome to the August Edition of the PFM Newsletter
We hope you’re enjoying a wonderful summer and finding time to relax, spend time with loved ones and make the most of the longer days. As always, we’re delighted to bring you the latest news and updates from PFM.
This month, we’re especially pleased to share an update from Mr C, whose incredible fundraising challenge in support of Salisbury Hospice Charity was featured in our July newsletter.
One of the real privileges of working with our clients is seeing how they make the most of life beyond work. Retirement often creates opportunities to pursue new interests, develop skills, travel, volunteer or support worthwhile causes. Whether you’re learning a language, taking up a hobby, fundraising for charity or tackling an endurance challenge like Mr C, we’d love to hear your story. These experiences are inspiring examples of living retirement to the fullest, and we’d be delighted to feature them in future newsletters.
Client Spotlight – Mr C’s Cambrian Way Challenge
Following our introduction to Mr C’s ambitious fundraising challenge in July, we’re delighted to report that the first week of the Cambrian Way is complete. The team has covered around 100 miles across some of Wales’ most demanding terrain, climbing more than 5,500 metres and conquering Pen y Fan via its challenging eastern approach. Along the way they experienced spectacular scenery, warm local hospitality, colourful bunkhouses, days of relentless rain, chilly conditions and the loss of a few hats and gloves.
Reflecting on the first stage of the challenge, Mr C highlighted several memorable lessons:
• The solitude and views provided valuable time for reflection.
• Reaching complete exhaustion each day became surprisingly rewarding, especially when followed by good food and great company.
• Daily hilltop video updates proved popular with supporters.
• The generosity shown towards Salisbury Hospice Charity has been truly humbling.
Thanks to that incredible support, the fundraising total has already surpassed £5,000. When asked about the highlights so far, Mr C was quick to praise both his fellow walkers and the encouragement received through the JustGiving page, describing it as a powerful reminder of the kindness and goodwill of others. Congratulations to Mr C and everyone involved. We wish you every success for the next stage of this remarkable challenge.
Could Your Smartwatch Help Shape Your Financial Future?
It is very important to us that any work we do is client-informed, purposeful and brings clear benefits. We are using your feedback to explore how technology might add value to the client experience across the Purposeful Group. In the spirit of transparency, we’re sharing some of the insights below, along with a few thoughts on how everyday health information could one day help make financial planning even more personal
70% of you reported being interested in health-informed financial planning
A very encouraging finding. We know from population studies that sleep, physical activity and nutrition are all linked to both lifespan and healthspan: in other words, not just how long we live, but how many of those years are lived well, free from major disease. That matters because the quality of our later life is closely connected to the financial choices we make today, from when we retire to how we plan for care, travel, family support and day-to-day independence.
36% of you said you ordinarily use wearables, such as a smartwatch, fitness tracker or ring
For some people, that might simply mean counting steps on a dog walk, checking whether a poor night’s sleep explains a sluggish morning, or noticing that a busy week has left very little time for movement. For others, it might be about building confidence: seeing that they are gradually walking further after an operation, keeping an eye on resting heart rate, or spotting patterns between stress, sleep and energy levels.
The real value is not in the gadget itself, but in the story the data can help tell. Imagine someone approaching retirement who dreams of spending more time hiking, travelling, helping with grandchildren, or volunteering locally. Their financial plan might already show whether that lifestyle is affordable. Health and lifestyle information could add another useful layer: helping conversations focus not only on “Can I afford to retire?” but also “How can I make the most of the years I am planning for?”
71% said they would be comfortable having a discussion about health and lifestyle-related factors in the context of financial planning.
The areas most people felt comfortable discussing were physical activity (65%) and sleep (45%). If clients could opt in to provide this information, 68% said they would be happy to discuss it with an adviser, while some (13%) said they would prefer to provide it privately. A minority reported not wishing to provide this information (9%), which is equally helpful to know.
Top tips for getting more out of a wearable
- Focus on trends, not one-off numbers. A single bad night’s sleep or low-step day is normal; patterns over time are much more useful.
- Pick one small habit to improve. That might be a lunchtime walk, a regular bedtime, or standing up more often during the day.
- Use reminders gently. Alerts should support you, not nag you. If they become annoying, change them.
- Look for links between behaviour and wellbeing. For example, do you sleep better after fresh air, less screen time, or a more active day?
- Remember that wearable data is not medical advice. If something concerns you, speak to a qualified health professional.
If we were to incorporate this layer of personalisation, entirely optional and on an opt-in basis, a large majority said they would find it most helpful for planning long-term care as well as retirement income and drawdown. That makes sense. A good financial plan is not just a spreadsheet of income, tax allowances and investment returns. It is a plan for real life: staying independent for as long as possible, making choices while you have the confidence and capacity to make them, and ensuring your money supports the life you want to live.
This is where the link between healthspan and financial planning becomes so important. If we can plan with a clearer understanding of how someone hopes to live (and what might help them stay well for longer), we can have richer conversations about retirement timing, spending patterns, contingency funds, care preferences and legacy planning. It is not about predicting the future perfectly. It is about making the plan more personal, more realistic and more useful.
Author: PFM Associates