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PosSol chief exec Jim Reeve steps down

Positive Solutions chief executive Jim Reeve is leaving the firm to be replaced by commercial director Peter Coleman.

Reeve (pictured) has left the Aegon-owned firm to pursue alternative opportunities within the financial services sector. He joined PosSol in September 2007.

Coleman joined PosSol in March 2011 and is a former Burns-Anderson director. Aegon says he will work with risk and compliance director James McCourt to complete the firm’s preparation for RDR transition.

Aegon executive chairman of distribution Patrick Gale says: “I would like to thank Jim for his significant contribution to Positive Solutions over the last four and a half years. Peter and James’s knowledge of the business and their track record make them an ideal team to lead the firm to future success.”

Peter Coleman says: “Positive Solutions has the right strategy to be one of the winners post-RDR. I’m delighted to be given the opportunity to lead Positive Solutions at such an important time for the firm and the industry.”

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Comments

There are 13 comments at the moment, we would love to hear your opinion too.

  1. Thank Goodness for that. Hopefully PS will start looking after its partners properly now instead of fleecing them dry.

  2. What are these “alternative opportunities” that everybody – Reeve, Cole, etc are so keen to pursue.

    Am I missing out on something?

  3. Or they have seen the writing on the wall post RDR and getting out whilst the going is good.

  4. Good on him, I think he has seen the light or should I say “shadow” being cast on our industry by the slavish adherence of the regulator to the cliff edge timetable for RDR implementation. Operating a practice post RDR with its voluminous fees and levies is going to put a number of networks to the wall and many other smaller, up to now, efficient iFA businesses.

    Alternatives – Woodturning – chuck a piece of wood on to a lathe, rotate it at around 500-1000 rpm, bang a chisel on it and shape it into something useful or beautiful.

    Much more satisfying personally. Not viable as a way to earn a living, but hey who cares? Most IFAs will soon regret getting qualified for RDR as it will not increase consumer confidence, nor will it produce growth in savings and investments and pensions. Consumers will dive into the myriad of direct websites being set up thinking they will get a better deal, never mind the quality, feel the width !

    Doomed! We are all Doomed!!!

  5. Anybody fancy a game of “Fantasy Financial Services”?

    FFS for short..

  6. Perhaps he’s heard about the imminent vacancy at Chelsea, and needs some time to brush up on his russian?

  7. “Pushed before being Shoved”
    No doubt with a large Pension Pot to benefit from.

  8. Spring is approaching and he needs to get his garden into shape!

  9. well now he has destroyed a perfectly good company, what else can he do other than jog on.

    well done jim, it only took you 4 years.

  10. Good Luck to you Jim!

  11. Talks a good fight
    Wasted a good company
    Reputed to earn £1m per annum.
    What a waste of money.
    Who would want to employ this idiot?

  12. Just to correct a few comments above.

    Jim was given a hospital pass by Aegon, who blew £100m on buying PS without buying the real value – the clients or IT system that ran it. There was a lack of compliance structure, insufficient HO resource and little management control.

    He had to rebuild it and that costs money, time and bodies and many PS Partners left as the once cosy little ship was rocked.

    PS is a sinking ship because it owns none of the intellectual property or clients, which is Aegons fault. But at least Jim bought everyone sometime to consider their options and the sheer frustration of dealing with the utterly directionless Aegon led to his departure

  13. Thank goodness he is away, never saw someone run a company and it’s advisers down so fast. I have been in the business for 25 years now and he is just another of the same I have seen time and time again, never having actually worked on the coal face and earned of others backs! Glad he is gone, God help us if he gets back into another financial services post.

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