Weekend Essay – The ride I don’t want to get off

Eight weeks have passed since I took on the role of news editor at Money Marketing – and it’s safe to say it’s been a hectic, but brilliant ride so far.

In the past two months I’ve attended countless conferences, awards ceremonies, meetings, lunches and introductions.

We’ve had the Autumn Statement in which the chancellor announced the triple lock will remain unchanged, a consultation on a pensions ‘pot for life’ and cuts to national insurance among others.

Only last week, the Financial Conduct Authority released a discussion paper and launched a consultation on its long-awaited plans to close the advice gap.

Now, anyone who knows me will vouch for the fact I’ve never been a fan of rides. In fact, I can’t stand them.

As a kid, whenever I was dragged along to a theme park, I was more than happy looking after everyone else’s bags while they queued up to get their adrenaline fix.

Fast forward 25 years and I still hate them.

On a recent trip to the funfair at Hayling Island, my nine-year-old daughter looked at me with disappointment – and probably a bit of embarrassment – while I made my excuses not to go on one.

However, unlike the hideous, stomach-churning, vomit-inducing rollercoasters I’d do anything to avoid, the Money Marketing ride is one I definitely don’t want to get off.

In fact, I’m absolutely loving it.

Although I’ve spent 12 years in journalism, the majority of that time was working for a regional, weekly newspaper and I confess, prior to joining I had little understanding of the finance world.

If you’d spoken to me about SJP and fees a few months back, I’d have assumed Sarah Jessica Parker was negotiating a deal with HBO for the next remake of Sex and the City.

So, naturally, the initial excitement of taking on the job was very quickly replaced by crippling self-doubt.

I had confidence in my abilities as a journalist, but with no real experience of the sector all I could think was ‘What if I can’t pick it up quickly enough?’ and ‘What if I end up looking stupid’?

MM’s former editor Katey Pigden – who trusted me to fill the big boots left by my brilliant predecessor Michael Klimes – reassured me that she wouldn’t have offered me the job if she didn’t think I could do it.

Katey, explained that, like me, she had taken on the position of news editor without prior knowledge of the sector and that she too felt like a bit of an imposter joining a team who knew more than her.

In addition, she told me not to worry and that everyone would be there to lean on for support.

She also said to just be honest that I don’t know it all but am eager to learn – because the people in the industry are lovely and only too willing to help.

She was right. So far those I’ve met have been more than happy to sit down and explain the things I don’t fully understand and the whole Money Marketing team have been amazing.

Not that I had any reason to doubt Katey of course – she’s a Fulham fan and everyone knows Fulham are by far the best team in the world.

Slowly but surely, one day at a time, I’m learning more and growing in confidence.

I now don’t think of Sarah Jessica Parker when I hear someone mention SJP.

I’ve written about MPS, BPS, DFMs, AUI, AUM, AUA and memorised more acronyms than I can shake a stick at.

Although there is still so, so much more to learn – I’ll probably never know it all – I feel like I’m at least getting there now.

Another unexpected benefit of joining Money Marketing is that it has really made me start looking at my own finances – or should I say, lack of them.

I’ve always had the ‘you only live once’ mentality and up until now, any spare money I’ve had has quickly disappeared.

I’m not someone who splashes out on fancy watches, nice cars or designer clothes, but I do have a love of travel, good food, wine and takeaway coffee.

Despite turning 35 in April, retirement is not something I’ve ever thought about. Perhaps not the best thing to admit to an audience of IFAs.

But since starting the job, talking to advisers and reading about financial advice every day, it’s hard not to start thinking more about the future. Not just mine, but also that of my two girls.

Talking about the future – looking ahead, I feel 2024 is going to be a seismic year for the financial services sector.

We’re going to have elections in the UK and US, the consultation response to the advice/guidance paper, the ongoing cross-party review into financial education in schools, the abolition of the lifetime allowance, potential cuts to inheritance tax, advances in technology and much more.

It’s the rollercoaster that shows no signs of slowing down, but I can’t wait to keep riding it and see what the next 12 months bring.