I have just returned from holiday and was interested to read the comments of Julian Stevens, Searching in vain for a true professional.
I can relate to the proposition that Julian finds himself in. Having considered the position and approached the way he did, I may have also tried the opposite approach – find the IFA of tomorrow and breed my own successor(s). What a waste of time and energy. The members of the recently left college brigade that I have interviewed in the past two months have no idea how to be interviewed, no idea how to prepare for an interview and believe they should be able to walk into a level that equates at least to middle management. One of them told us he wanted to be an IFA. When asked why, all he could say was he was good at maths. Stick with it Julian. I have managed to establish good contacts with several IFA practices in my locality and we are just working closer together without going that final step but I suspect that final step will come for some of us in the not too distant future. By that time, we will be absolutely certain that it is the right thing to do and be convinced that we are as professional as we initially came across as being. Mike Stannard WHFISView more on these topicsNews
Oil is well?
A strange development occurred in the oil market last week. With prices easing as fears of further disruption in the Gulf of Mexico receded and with a potentially major new find in that region, the price of Texas crude was actually lower than at the same time last year. This was the first time this had happened for more than two and a half years.
The big freeze
Loan trusts have classic estate freezing qualities and can benefit IHT planners by avoiding an exit charge in the first 10 years
Mortgage chasers to escape regulation
Claim-chasers in the mortgage market could be exempt from regulation once the Compensation Act comes into force. The Department for Constitutional Affairs’ head of claim regulation Mark Boleat admits that a loophole may exist for firms whose claims are not based on the sale of a product. At present, legislation will only apply to those […]
Pima says Personal Accounts should link to Isas
Pima has called for Personal Accounts to be linked to Isas to create a more joined up approach to savings.In its response to the Government’s White Paper, Pima says a percentage of monies taken into Personal Accounts should be allowed to be filtered into Isas.Pima says the move would put consumer demand and consumer’s real […]
Discover how to make your investments more diverse with RLAM’s Global Multi Asset Portfolios webinar
Join Trevor Greetham, Head of Multi Asset at Royal London Asset Management (RLAM), for a webinar on 30 March at 2pm. During the update, Trevor will consider how various asset types have fared in 2017 and offer his outlook, using the Investment Clock model to illustrate his views. Find out more here
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FSCS to pay back 2,700 clients of collapsed DFM Beaufort
The Financial Services Compensation Scheme will automatically compensate hundreds of clients of a collapsed discretionary fund manager, but other investors will have to wait another five months to get their money back. London-based Beaufort Securities has been investigated by both the FCA and US authorities. An indictment from the US Department of Justice alleges that […]
Profile: Fiducia on really knowing your clients
Fiducia managing director on ‘good old-fashioned’ customer service in the digital world Anthony Scott is adept in the art of communication. As an adviser and a novelist (he has written the novels ‘On Ashover Hill’ and ‘The Birthday Gift’) it is crucial for the Fiducia Group managing director to engage and build a rapport with […]
FCA warns over advisers giving ‘inadequate information’ to DB transfer specialists
The FCA has reiterated its warnings that advisers outsourcing defined benefit transfer advice to firms with relevant qualifications cannot divorce themselves from responsibility for the eventual recommendation. While existing FCA rules require additional qualifications to advise on DB transfers, and the FCA has written to all firms who have DB transfer permissions as part of […]
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