Are you ready for lock-stalgia?

Bob Hunt

Bob Hunt

3 July 2020

As we move further into a post-lockdown environment, towards what many describe as 'new normal', albeit hopefully with rare and occasional local lockdowns such as we're seeing now in Leicester, there may begin a period where some of the elements of those lockdown months are genuinely missed.

A new word to describe this is emerging, it's called 'lock-stalgia', whereas we return towards that new normal, we begin to reminisce.

We recall a time when it was quiet enough to hear the birds singing, a time when we didn't have noisy, polluting planes, trains and automobiles constantly travelling, when the air smelt cleaner, even a time when as a cyclist you could ride two-abreast on the road without getting shouted at by irate drivers.

We'll perhaps miss not having to make so many journeys during busy commuting times, stuck in traffic jams on the M25 or having to endure delays or standing room only on the only train. And in a financial sense, we might well look back at a period when equities were incredibly cheap, or buy-to-let mortgage rates were knocking around the 1% mark.

Or we might well not miss any of those months where we were required to stay at home, and instead might all welcome the ability to get back to doing all those things we tended to take for granted before the pandemic hit.

Even if there could be a little 'lock-stalgia' about the bugbears of our working and personal lives, the overall impact of the pandemic has undoubtedly been harmful for vast numbers of people, and will be for some time to come. COVID-19 won't allow us to turn back the clock, even if we would wish to, and therefore we need to focus on the future.

In a true sense, that means not being fixated on a pre-pandemic world that won't ever come back, especially in a work sense. COVID-19 has changed our working environment; it's definitely changed the way we at Paradigm support advisers.

In my view, it's accelerated the inevitable progress of change, be that the introduction and greater awareness of online communication methods, or fintech applications, products and services to support the customer journey, or the ability to enhance your brand with a potentially much wider customer base - one that isn't necessarily confined to your own locale.

In much the same way that the pandemic has now super-charged the march towards online purchasing in retail to a point where it may be five years ahead of what it would have been, advisers must also take note of how certain elements of delivering the advice process, the working operations of business and customer communication have also been fast-tracked during the past three months.

It's now inevitable that firms are looking at the efficiencies of their own operation and how they might be improved because of the remote working experience. How much of that do you retain even when it's possible to return to the office?

How else has the pandemic changed the way you work? Where are you weak? Where might investment be best placed? Could the tech that you'd simply ignored, or didn't even know existed, be used to take you firm further forward? Perhaps in areas like supporting the improved retention of clients - a vital income generator for any firm - the tech is available that could make all the difference in growing recurring revenues.

And from a generalist, sector-focused place, how vital has it been that the entire mortgage and protection market has been able to understand each other, and to work both collaboratively and with empathy. That, in my view, has been a real positive and it has been demonstrated countless times over the past few months.

It is worth working hard to maintain it and helps us all mature as individuals and an industry, and provides us with an added professionalism that can only be helpful when it comes to delivering positive outcomes for our clients.

So, apart from my day-to-day goal of ensuring I lead with passion, hopefully wisdom and entrepreneurial drive, I have a new goal - not to practice any sort of 'lock-stalgia'. Instead, as I hope you will do, I'll look to the future and take as many positives as possible from the outcomes of this dreadful disease. At times, they have been hard to find, but they exist, and they can help all practitioners develop stronger businesses in the future.

Reading this blog counts towards your CPD!

Click here to add this session to your Paradigm CPD log.

20 December 2021

The public gets what the Public wants’ - or do they?

10 December 2021

Consultation Paper CP 21/36 “A new Consumer Duty”

7 December 2021

FCA’s Consumer Duty seems like a costly exercise for advisers

2 December 2021

Cyber crime update and reporting requirements

9 November 2021

Who will buy...?

1 November 2021

FCA: Remote working expectations for firms

18 October 2021

Remortgaging: Timing may not even matter this time

8 October 2021

Make stamp duty work for everyone

4 October 2021

Time to talk

1 October 2021

The FCA’s plans to tackle investment harm

27 September 2021

Lack of housing stock means brokers need to work client banks harder

3 September 2021

Let technology do the work in the fast-paced mortgage environment

2 September 2021

Time of new beginnings

18 August 2021

The proof of the pudding

12 August 2021

FCA pension transfer advice: don’t be confused by the label

12 August 2021

Time for a change?

26 July 2021

The engagement conundrum

26 July 2021

"I can’t do it all"

7 July 2021

Paused for breath

6 July 2021

SMCR part two - conduct questions

28 June 2021

Introducing a new us!

17 June 2021

Patches - what are they and why are they so important

17 June 2021

Multi-factor authentication - the simple solution

8 June 2021

SMCR part one - time to take stock

27 May 2021

A reminder of the 'good old bad old' days of protection tech

18 May 2021

Let's not consider any 'reduction' in these as some sort of victory

5 May 2021

Simple methods-calculating client profitability

30 April 2021

If the pandemic has been the mother of invention, it's time to carry on

22 April 2021

Opportunities abound in the market

19 April 2021

Early Movers are Shaping the 95% LTV Market

13 April 2021

Here's a conundrum

8 April 2021

Advice processes for vulnerable clients

29 March 2021

Vulnerable signs for advice firms to watch out for

5 March 2021

Lenders have not got to grips with how the pandemic impacted borrowers

2 March 2021

How Covid has changed our financial lives

2 March 2021

Supply needs to match demand

19 February 2021

Don't overlook product transfers

16 February 2021

Creating a plan for good CPD

5 February 2021

Stamp duty debate a black hole

2 February 2021

Industry wide levy is a head scratcher



APCC Member
Paradigm Consulting is a Member of the Association of Professional Compliance Consultants

Paradigm Consulting is a trading name of Paradigm Partners Ltd
Office address: Paradigm Partners Ltd, Paradigm House, Brooke Court, Wilmslow, Cheshire, SK9 3ND
Paradigm Partners Ltd is registered in England and Wales. No.09902499. Registered Office: As above

Paradigm Mortgage Services LLP
Office address: Wellington House, Starley Way, Birmingham International Park, Solihull, B37 7HB
Registered in England and Wales. Company No: OC323403. Registered Office: Paradigm House, Brooke Court, Lower Meadow Road, Wilmslow, SK9 3ND
Paradigm Mortgage Services LLP is a Limited Liability Partnership.

Paradigm Protect is a trading name of Paradigm Mortgage Services LLP
Office address: Wellington House, Starley Way, Birmingham International Park, Solihull, B37 7HB
Paradigm Mortgage Services LLP is registered in England and Wales. Company No: OC323403. Registered Office: Paradigm House, Brooke Court, Lower Meadow Road, Wilmslow, SK9 3ND
Paradigm Mortgage Services LLP is a Limited Liability Partnership.