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FCA turns attention to credit information market

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AFH Alan Hudson 700

AFH signs fifth deal of 2019 for £1.7m

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Aim-listed adviser eyes trio of acquisitions on growth trail

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  1. Julian Stevens 10th July 2019 at 9:12 am

    The problem with a PP sitting in on a client meeting is that it may raise a number of possibly awkward questions, starting with Why? Who’s providing the advice? Don’t you do your own research? Why will somebody else be writing the report for you? How much more are the time and input of two people going to cost me than those of one?

    Also, although paraplanners may (usually, I assume) be good back room technicians, how many of them have the necessary client-facing skills? If they did, they might well decide there’s no good reason why they themselves shouldn’t be an adviser instead of being restricted just to writing reports for other people who probably earn rather more than they do. I’m doing all the real work whilst s/he’s getting all the glory for bringing in the business.

    I recall attending a meeting at a once major life office, on which one of their young qualified actuaries sat in and he was as dry and as dour as anyone I’ve ever encountered, obviously a very bright boffin but completely devoid of any interactional skills. I heard that, in the absence of anyone else of a sunnier disposition being available, they let him out to do a client presentation on a group pension scheme they were hoping to win but he was so totally unsuited to such a role that his failure to do so was an almost foregone conclusion.

    So no, having a paraplanner sitting in one client meetings probably isn’t a good idea.

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