View more on these topics

Grasp the opportunities

There is still a lot of doom and gloom infesting your excellent rag but I believe there is no better time for our young people to consider a career in financial services.

My dear wife and I, in common with innumerable people are of a “certain age” and live in a valuable property. We hope to downsize to realise capital. If we do manage to move we shall still be living in another valuable property and barring any financial disaster will pass it on to our daughters and their families, who will in turn need advice. This is, and always has been the case.

Now, just think of the innumerable people like me, due to join the “choir invisible” now and over the next many years who have sons, daughters, grandchildren, great grandchildren, the list is endless, who will receive the proceeds of property and business sales, life insurance and trust funds, pensions, savings and investments.

What a prospect to enjoy an extremely comfortable, satisfying and useful life as I did in financial services.

This is exactly what we used to tell our delegates at Abbey Life 14 years ago, setting out on their careers.

So, it was disappointing to hear bad news from my formerly independent IFA at my last review. He has sold out to a big company for a lot of money and is now an employee. He has told me that he must now charge a minimum fee of £3,000 for my pension review.

This is company policy so that it, allegedly, can encourage most of its small and medium investing clients who can’t or won’t pay for the review to go elsewhere, leaving only the wealthy ones.

Time to start a salesforce anyone? My advice is take on those young people mentioned in ifs University College vice-principal Alison Pask’s letter in Money Marketing.

Get them trawling through your unloved so called client bank and get them to give them a call. You will be surprised how delighted your forgotten Clients will be to hear from a person who is not a Bank “Wealth Adviser”.

Chris Stracey

FB Consulting Ltd



Man arrested in FCA insider dealing investigation

A 49-year-old male has been arrested as part of an FCA investigation into insider dealing and market abuse. The FCA, with the assistance of the North Yorkshire and West Yorkshire Police, carried out a search warrant in Harrogate this morning. The individual is currently being questioned in custody. The FCA says no further details can […]


Scrapping ETF stamp duty “insufficient” to lure providers to UK

Firms are divided on whether the Chancellor’s move to axe the 0.5 per cent stamp duty paid by exchange traded funds will see more UK-based ETFs, with concern the may be “insufficient” to lure providers based abroad. Chancellor George Osborne announced in his Autumn Statement last week this tax will now be scrapped from April. The […]


Managers clash on commercial property outlook

Multi-asset managers are at odds over how attractive UK commercial property is, with critics arguing the illiquid nature of the asset class is still holding it back. Apollo multi-asset manager Ryan Hughes has added commercial property exposure to his Cautious and Balanced funds, using a 5 per cent position in Fiona Rowley’s £2.3bn M&G Property […]


FOS upholds complaint against SJP for unsuitable Isa advice

The Financial Ombudsman Service has upheld a complaint against St James’s Place for giving unsuitable advice to transfer an Isa from an existing provider to SJP. A final decision by the FOS, published last week, upheld an adjudicator decision in favour of the consumer, who complained she had lost income and capital and was disappointed […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm