If there’s one thing I’ve learned about working with advice firms, it’s that they really care about making sure their clients achieve the most they can from their own finances. But because the focus is on that, some firms may not always have the time or capacity to put their own finances at the top of their priority list.
I’m not for a second suggesting it’s commonplace to find reckless abandonment of any fiscal sense. Or that clients shouldn’t be the priority. But I often see firms put in place sound strategies for their clients’ finances while not doing the same for their firm.
Confusion surrounding the retirement reforms presents a huge opportunity for the advice community, says pensions technical manager Jon Gwinnett
As the pension reforms go live, confusion and misinformation surrounds the changes. National media, which have begun covering pensions to a degree hitherto unimaginable, have compounded this with factually inaccurate reporting. There is a massive challenge ahead for the advice community and Pension Wise to counter the misinformation and lack of understanding that exists.
In order to move on, you have to have a combination of clear purpose and conviction.
It happened in 1988. I was watching Grange Hill, eating some Monster Munch, when my little brother burst into the living room with some very important news. Charlene from Neighbours was releasing a single. The actor playing her was called Kylie Minogue and had decided to become a pop star. No, I told him. You’ve got this wrong.
So, the big news of the day is Standard Life reversing its 2010 decision to place clear blue water between itself (as a provider) and financial advice, and follow Skandia into the restricted advice market. We surely live in interesting times and time will tell whether this is a good thing for customers, for the market more widely or for Standard Life / Skandia shareholders.
Preferential fund pricing in the platform world, otherwise known as ‘superclean’ funds, was under the spotlight recently in a report commissioned by Nucleus and published by financial consultancy ‘the lang cat’.
Cutting through the noise
With a lot of white noise around superclean funds, this timely study, ‘All coming out in the wash: untangling total cost of ownership’, looks at the implications for both adviser and client when choosing these funds.
Here at Nucleus, we firmly believe that our single biggest advantage is our audience, and over the years we've been delighted to cultivate a user base of some of the most client-focused and progressive firms across the financial planning profession.
One characteristic many of our users share is the desire to keep improving their businesses and client propositions and, in a small way, Nucleus has tried to encourage the sharing of best practice across our audience via our regular, regional practice management sessions.
Founder and CEO, David Ferguson talks to marketing strategist Roger Edwards about the road to launching Nucleus as a start-up onto the platform market more than eight years ago. He explains why it’s important for any new business to have a purpose, to be persistent and to keep the energy alive: ‘If you gather together a bunch of motivated people, you can achieve a lot,’ he says.
On behalf of David Ferguson, CEO
There are four quadrants to building a great business, but complacently listing 'building trust' among them is where some of our esteemed institutions have got it so wrong...
The accelerated emergence of transparency has gouged our financial institutions.
Most of them (and I mean in the widest societal sense) are talking about how to rebuild trust. The truth is they never had it. It was actually ignorance, complacently misread as trust.