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Diary of an IFA
For the journey
Georgina Partridge of Plutus Wealth Management on how the firm has finally become authorised and is investing in administration and new staff
Sense of community
With BA Fleming & Partners’ transition to fees complete, managing director Lisa Chantrey explains how it is giving its advisers a sense of ownership
Features
Sting in the retail perspective
To say that this is a significant year for IFA firms would be something of an understatement. We all have less than a year to ensure our overall RDR readiness and, therefore, while some might see this as the end finally in sight, others will be concerned that time is running out to ensure all preparations are complete.
Forward thinking
I am delighted that Plutus sees more administration and bigger offices as investments and not as costs - that is the thinking of businesspeople.
Research engine
Advisers will need to consider a wide range of investment solutions to retain their independent tag, which is where good quality research teams show their value with their understanding of both adviser and client.
What's the bright idea?
In the Chinese calendar, 2012 is the year of the dragon. The dragon symbol of 2012 is an intelligent and laborious worker who never puts work aside although sometimes this leads to excess. The water dragon has enough courage to face challenges and easily finds the weak points that will stand in the way of his success. This is, I think, a fitting metaphor as we work through the challenges of the transition to RDR.
Education
Quick off the benchmark
The payback for participating in benchmarking is that IFA firms are aware of what the rest of the IFA market is doing and what sort of action needs to be taken to retain revenues and profitability
Critical reasons to study
Peter Cave, chartered financial planner and senior RO5 examiner for the Chartered Insurance Institute, says if candidates want to avoid a rude awakening when they take this protection exam, they need to study the learning outcomes for this paper and not rely on experience in the field
This time it's personal
Peter Cave, chartered financial planner and senior R03 examiner for the Chartered Insurance Institute, provides exam tips for passing R03, personal taxation, with a warning that candidates should not just rely on experience but instead set aside plenty of time for revision
A touch of Genius
In the relatively short time since I left formal education, the act of learning has changed dramatically.
Dear Rob & Roderic...
Our resident agony uncles and The Ideas Lab directors Rob Reid and Roderic Rennison answer adviser questions
Leader
Leader
There is nothing like a deadline to focus the mind. There is just one year to go until the FSA expects full compliance with the RDR, which may induce a warm and fuzzy feeling in those that see the exhausting process of transition finally coming to a close or blind panic in those who have yet to re-engineer their business.
Exam diary
Time is too tight
With just over a year to go to meet my self-imposed qualifications deadline, I am starting to feel that I might not reach my goal.
