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Evidence of professionalism at the Professional Adviser Awards

I was at the Professional Adviser Awards last night and thought I’d share a couple of insights. First congratulations to Tina Weeks as IFA Personality of the Year.  Really well deserved Tina, well done. I was there courtesy of 1st the Exchange and so thanks to Paul and Colin for a great night. I’m really looking forward to seeing your new wealth management package in action. If there’s anyone in the sector Colin Sloss doesn’t know then they’ve just joined!

What prompted me to write this were two conversations I had with Network / Service providers. This first came up to me and asked my opinion on a programme they are running to get their IFAs ‘business ready’ for the RDR. They felt they’d done the qualifications piece and were now turning their attention to the business model and wanted to ask me if I felt they had all the bases covered. Their list was extensive and if there’s substance beneath it they will be doing a great job and their members will very fortunate to have had them in their corner. They’ve asked me to look at their programme and so I’ll only name them if it does what it says on the tin.

The other firm’s approach beggars belief. Helping their firms’ prepare for RDR is something ‘they will be turning their minds to later in the year’. This is a disaster and certainly dereliction of duty. Firms need help and they need it now and I feel truly sorry for this commission club’s members!
 
I was also surprised at the number of people who were surprised to read that I want to build a wealth management business (I know repeating a word twice in once sentence is poor grammar but as I said I was at a party last night!). Building wealth management businesses is what I do and I think there is a fantastic opportunity to build a world class wealth management business that properly aligns the interests on its clients, its staff and its shareholders.
 
Will Robins over at Citywire broke the story. I wanted to wait a few weeks until our plans were more developed but I understand Will couldn’t sit on this forever. I thought he did a good job and finally has stopped referring to me as ‘head of failed wrap Macquarie’. For the zillionth time I did not work on the Macquarie wrap, I was head of Financial Planning and head of the Veracity Asset Transformation Service, which along with Tim Crew I’ve now bought.
 
The early part of the week was spent in God’s country with one of the firms we work with. Ian Duckworth is a great adviser and is finally starting to reap the fruits of his labour. I aspire to being able to take as many holidays as he does! On the Tuesday night Ian went off to the gym and I went off to the pub to meet up with a couple of guys I used to work with at MLP. That’s why Ian would fit into a woman’s size 8 dress and I’m trying to get on the waiting list for a new liver.
 
It was great to meet Normal and Ross and hear how well they are doing and it struck me that almost everyone I know from my time at MLP has gone on to have a great career and I’m extremely proud to have been associated with them. They were a group of bright hard working guys with a great attitude, so much better than my peer group when I came into the sector 20 years ago, and are the type of people the profession that is emerging out of this industry can be built around.
 
Have a great weekend to all except Blackburn fans.
 
John

 

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Author: Brad Northrop
Posted: Friday, February 11, 2011 | 12:18:39 PM


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