View more on these topics

Making advances

Conference season is approaching for the political parties, as it is for the professional bodies.

Change is afoot in the political world, as it is with the world of financial planning. The IFP has enjoyed some excellent partnerships during 2006, which it will be building on in 2007. An example of this has been the joint conference with Aifa and FP Advance focusing on business transition.

Aifa members have been asking for more support on fees and the IFP has always been regarded as the organisation with the experience, support and membership to help with this transition.

Two organisations with the will and desire to improve the environment for their membership have teamed up with Brett Davidson from FP Advance, a leading consultant in business transition.

There were 80 delegates at the conference, including representatives from the FSA and from some product providers. Advisers were there to evaluate and develop their own proposition.

The FSA and the providers were there to learn about the crisis that could occur if businesses are not able to move to a model that can treat customers fairly, train and develop professional staff and make a healthy profit for a job well done for very satisfied clients.

Underpinning Brett’s approach is a need to embed compliance into the business process and that every part of the financial planning operation should be subject to a series of processes. He does not suggest that everybody should be a mindless clone, which is clear from his presentation style. He is, however, an advocate of training, mentoring and coaching as advisers move through their career towards the pinnacle of professionalism that can be identified with those who have the Certified Financial Planner accreditation or equivalent.

The IFP has outlined a series of transition workshops for 2007, which splits the process down into four days run in two two-day sessions. This is mainly but not exclusively targeted at business owners, who will get the opportunity to discuss common issues with other leading businesses.

One of the important roles of a professional body is to be able to define its proposition and to ensure that it is consistently delivered to its constituency. The IFP is the UK professional body for those committed to the development of the multi-discipline profession of financial planning and, as such, focuses on the provision of training and support of the financial planner and the financial planning practice.

Through both strands, it is looking to improve the standard and quality of financial planning advice being provided to the UK consumer. This year’s conference will see a series of announcements that extend the scope of these services to deliver some compelling changes for 2007. We will provide a range of transition support and aim to run further events with Aifa and other bodies.

The IFP will see a change of leadership at its conference but not an enforced change. After two years, Ian Shipway stands down to allow Jane Wheeler to take over the presidency and to lead the IFP through one of the most exciting times in the organisation’s 20-year history.

Nick Cann is chief executive of the IFP

Recommended

Geography lesson

Asset allocation decisions for investors are implicitly and explicitly influenced by their attitude to the US. Wall Street is the biggest market, the US is the biggest economy and, courtesy of a high spending consumer, has been the dominant source of growth in economic activity – the catalyst of the recovery.

Threesixty website to offer IFA ‘showroom’

threesixty services is inviting IFAs to showcase themselves and their businesses to clients on its website.threesixty is mailing a number of network members and directly authorised IFA practices to encourage them to submit their details to make them accessible to clients who have registered for the service, who can then browse for potential business opportunities.The […]

Concern grows over Sipp regulation delay

Pointon York Sipp Solutions managing director Christine Hallett fears that Sipp regulation will be delayed as the FSA is still unsure what it is meant to be regulating. Sipp providers are hoping the regulation, scheduled to come into force next April, will allow Sipps to keep their flexibility. Many firms are also waiting anxiously for […]

Hip trip for the NPSS

It looks as though the problems emerging with the proposed National Pensions Savings Scheme could delay reform for many years or could even see the NPSS go the same way as home information packs and just be dropped.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com