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UnCANNed – Nick’s Pick of the News

UnCANNed is a regular but light-hearted feature brought to you from Nick Cann, CEO, at the IFP. Well known for his forthright views and straight talking, UnCANNed is Nick’s new weekly update bringing you his thoughts on a topical Financial Planning issue in true Nick Cann style.

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Blog #67 - Really Flying - 28/05/2010

Friday morning always provides such a surreal experience when airline travel is involved. Having enjoyed an excellent Thursday evening in the company of David Crozier CFP^CM, his team and clients it was time to head back to the office via Belfast International and then Bristol Airport. Friday is of course the day when hen and stag parties fill the departure lounges and planes with their imaginative and not so imaginative fancy dress. There was no need for any safety announcements on our plane today because we had Superman, Buzz Lightyear and Spiderman on our luxurious Easyjet flight although regrettably no Wonderwoman. It was a wonder we needed a pilot with all those superheroes to look after us. The surreal part is the witnessing of all the alcohol being sloshed down at 7am. Sights of beer bellies, tattoos, piercings and naked flesh and all that before we look at the stag dos.

Airport security is great entertainment in my opinion as you watch lines of stressed people walking along  being asked several times whether they have any fluids etc in their bags, only to be completely surprised when the security people remove all kinds of liquids from their bags. Then there is the hilarity of watching people trying to shove a clearly oversize suitcase into the hand luggage baskets! Plenty to smile about before getting back to the office to see how the team have coped with the nightmare that is a “new server”. Once again amazing the surprise experienced by IT folk when they can’t do it all in the time that they suggested!

Well a good week for the IFP as we move further forward with the plans for the Paraplanner qualification and how we are able to bring a relevant level 4 qualification to the Financial Planning community. Nothing to advise yet, but I am very excited that by conference time we will have the whole suite of career support to offer Financial Planners and their companies. With MMU having also agreed their Undergraduate degree programme for launch in September this will represent a major step forward for the profession.

I attended the 1^st-Exchange technology conference on Tuesday and was slightly disappointed not to receive one of the new iPads for my trouble but perhaps I left just before the goody bags were handed out. There is a lot going on as ever in the world of technology but I was heartened to see and hear that the strategic direction of technology has moved back to support the Financial Planning and Wealth Management proposition. With new exciting tools being introduced by the likes of Allmyplans and Sammedia, the business prospects for professional firms are tremendous over the next few years.

There is much however for life offices to consider as they work out what the Financial Planning community will need from them in 3-5 years time as the shape of the market changes. At a brokering excellence conference on Wednesday (again no iPads here either) much of the discussion was about what Financial Planners would need Life Offices for. Even if there are some tremendous business to business relationships and great support provided, how is the Life Office going to earn any money! Some suggest that those with wraps are going to rely on this and service and some will inevitably consider other forms of distribution other than via the IFA channel.

Spent a day in Belfast prior to my dinner last night at the Institute of Directors. Obviously not too many directors in Belfast without offices because I was the only one in the very strange room all day which meant that it was brilliant for catching up with so much work. However well done to Jason Holmes CFP^CM. I did meet the director who runs the IOD in Belfast and having introduced myself (and been told off for wearing no tie!) she said immediately, “oh yes, I know Jason and we are working with him to do something for your Financial Planning Week this year”. Fantastic work. David Crozier CFP^CM later confirmed what a great networker he is but if we could have more help with the raising of awareness like this we really would be flying!

It would be remiss not to mention the latest woe to befall Jemma this week. Whilst the rest of the family were enjoying an evening’s tennis in the sunshine at St Pierre, Jemma decided to use the gym and pool, only to manage to break her toe getting into the pool! She is 16 for goodness sake and still completely accident prone!

Bank holiday to look forward to and a chance to get out in the garden I hope without getting too wet! I hope that whatever you are up to it is a good one. Remember to book in for one of the IFP forthcoming events if you haven’t already done so, because they are really looking good. Don’t forget…the early booking discount for our Financial Planning in Practice conference on June 30 ends next Tuesday June 1 – it’s a great programme completely focused (as you’d expect with a title like that) on the practice of Financial Planning.  I’m chairing it and I know it’ll be a great day.

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