Jo-Ann Welman, a chartered financial planner at Quilter Cheviot, is at the forefront of helping clients navigate an increasingly complex financial landscape, where tax pressures and market uncertainty are reshaping long-term planning.
Ahead of this year’s City of London Wealth Management Awards 2026, the nominee for “Financial Adviser of the Year” spoke to GB News about the state of financial planning and what Britons need to be doing to successfully build wealth.
Speaking to GB News, Ms Welman shared advice on how you can build wealth successfully
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GETTY / QUILTER CHEVIOT J
Q: What’s the most common financial mistake people are making in 2026?
A major pitfall this year is not fully using available tax allowances and reliefs, such as ISAs, pensions, and capital gains exemptions. Many also overlook the benefits of balancing pension contributions between spouses or civil partners, which can optimise long-term tax efficiency and retirement income.
Taking the time to review your allowances and ensuring both partners are making the most of them can make a significant difference to your future wealth.
Q: How should people approach long-term planning amid changing legislation?
It’s essential to base your financial plan on current legislation, while remaining flexible enough to adapt as rules evolve. Focus on setting clear long-term goals, like retirement age, children’s education, or home ownership, and regularly review your plan to ensure it still aligns with these objectives.
Don’t let uncertainty stall your progress; incremental adjustments are usually more effective than wholesale changes in response to every new announcement.
Changes to the tax regime from the Chancellor have spooked investors and savers
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PASelf-employed individuals need to file their tax returns | GETTY
Q: What should be the top wealth-building priorities for people in their 30s and 40s?
Education about risk and investment is vital. Understanding that exposure to equities (shares) can help your money grow over time, despite short-term ups and downs.
Prioritise tax-efficient strategies, such as making full use of pension and ISA allowances, and avoid being distracted by political headlines or market noise. Consistency, rather than timing the market, is key to building wealth over the long haul.
Q: Which key financial dates should savers and investors mark in their diaries?
Two critical dates stand out: January 31, the deadline for self-assessment tax payments, and April 5, which marks the end of the tax year and the last day to maximise annual allowances.
Planning ahead, ideally reviewing your finances a few months before these deadlines, gives you time to make the most of your options and avoid last-minute stress.
More people are looking for ways to invest successfully and responsibly
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GETTYQ: How have recent global events affected financial planning in the UK?
The rapid pace of change, from global conflicts to economic shocks, has highlighted the value of professional financial advice and a robust, adaptable plan.
Savers and investors need to be prepared to adjust course but should keep sight of their long-term objectives. Diversification, regular reviews, and a calm approach are more important than ever in navigating uncertainty.
Q: If you could give one piece of financial advice to clients, family, or friends, what would it be?
Start early, whether it’s saving, investing, or learning about risk and compound interest. Even modest, regular investments can grow substantially over time thanks to the power of compounding.
Don’t be afraid of equities; understand the risks but remember that time in the market is usually more rewarding than trying to time the market.