Malcolm Kerr

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Malcolm Kerr: The value of reviewing client charges

Reassessing fees on portfolios can identify savings or show clients they are getting good value I received my annual ex-post costs and charges disclosure statement from the discretionary fund manager that oversees my Sipp investments last week. It is the first such statement to arrive. As someone still close to the retail investment market, I […]

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Malcolm Kerr: Advice profession is still a work in progress

Until every single firm acts professionally, there is a risk financial planning will not be considered as such from those outside it I was asked an interesting question by Money Marketing last week: “What one word or phrase do you think sums up the state of the financial planning profession today?” A number of potential […]

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Malcolm Kerr: Do the risks outweigh the benefits for the modern adviser?

I was never a big fan of the business plan process when I worked in the industry. Each year, it became more complicated and meaningless. Bottom-up numbers painstakingly developed through God knows how many boring internal meetings were then “calibrated” at group level. Inevitably, our projected revenues were increased and expenses reduced. Basically, our work […]

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Malcolm Kerr: The keys to high standards

Building a culture of high standards is crucial for business success. Take it from one of the world’s most successful companies This time last year, I wrote about Amazon chief executive Jeff Bezos’s letter to the firm’s shareholders. It focused on his belief businesses need to treat every day as “day one”. He wrote: “Hold on to day […]

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Malcolm Kerr: Current withdrawal strategies could leave clients penniless

The industry must find new ways to take care of all those swapping guaranteed income for the uncertainty of the market I attended a presentation entitled ‘Successful Withdrawal Strategies for UK Retirees’ the other day. It was pretty depressing. The first point made by presenter David Blanchett, Morningstar’s head of retirement research, related to Bengen’s […]

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Malcolm Kerr: A history of the salesman

It has been a long time coming but regulation has finally worked to eradicate poor practice In March 1962 a small, prematurely grey, former lieutenant in the US Airforce arrived in London and took offices in the West End. His mission was to establish a “pyramid” direct sales force on behalf of Investors’ Overseas Services, […]