Advice firms are doing well at the moment. What we do has been recognised as important and we have been busy. We are profitable and standards are high. But just how sustainable is even the best business? Picture yourself presenting your firm on BBC’s “Dragons’ Den”. It all sounds good to start with: a client […]
The scramble to do as many defined benefit transfers as possible while values remain high is unabated, and I am constantly amazed at how some firms have thrown caution to the wind in the hunt for their share of this – admittedly lucrative – opportunity. The problem is that advisers are putting their profits before […]
Advice firms must be extra vigilant not to fall prey to cyber-criminals and put clients at jeopardy
The biggest danger our clients face at the moment is uncertainty. I do not recall a time at any point in my 29 years in financial services when we had so little idea about the direction both the industry and the country will be taking over the next few years. No sooner do we get […]
Cashflow modelling and a meticulous approach to risk are essential to avoid a suitability crisis The debate about whether or not defined benefit scheme members should transfer out continues on its rollercoaster ride. There are so many facets to the discussion and FCA guidance, although useful to an extent, is still not sufficient to make me […]
I am always saddened by the apparent wish to knock advice firms for trying to deliver profits as well as excellent standards. Most of us are just trying to make an honest buck. The recent report from the Personal Finance Society highlights adviser firms are worried about the future because of the cost of running a […]
We have just recruited the fourth intake of graduates to our trainee adviser programme. In this age of spiralling costs and tightening of belts, this might seem like a surprising decision, but it makes perfect sense for us. It is not just about having a source of advisers in the future. Our graduate trainees provide […]
Almary Green has lost a much loved and respected member of its advice team: Mark Ring. Mark, who was aged 49 and leaves a wife and three daughters, died suddenly and unexpectedly at home on Sunday 6 November. The loss of Mark has come as a devastating blow for family, friends, clients and colleagues. Mark […]
We live in a world where running a firm of advisers is as much about protecting it against future penalty as it is about helping clients. Of course, ensuring any advice is in the client’s best interest is by far the best way of protecting against any future complaints. But just how much responsibility should […]
It takes a lot to dispel my natural optimism and enthusiasm, but Bank of England chief economist Andy Haldane‘s recent comments about advisers not understanding pensions sent my heart into my boots. We have all worked so hard to improve the professionalism of financial services and great strides have been made, starting with the RDR […]
It is now common knowledge I have signed an agreement that should lead to the acquisition of my firm by Standard Life’s financial planning arm 1825 . Real change is needed in our sector if we are to continue to meet the growing need for affordable advice. Over the past year I have taken a long, hard look […]
It is a sad fact that there are still crooks and incompetents out there in our industry creating financial mayhem with their clients’ money. Just last month we had headlines in our local press about an IFA firm near Norwich. The two principals of the firm were arrested and were being questioned by the police […]