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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 #50 - Power to Suceed - 01/02/2010

We experienced a catastrophic power failure at Whitefriars on Friday which curtailed our day and one of the most important acts of the week, which was of course posting the blog. Apologies if this spoilt any of your weekends! This has been a week of many achievements. The gym has been visited twice which of course now suggests a trend in my opinion. I wanted to avoid the crowds of other “short termism fatties” turning up during the first week of January, particularly as nobody had bought me any special new kit to start the year in. I am sure that capped sleeved adidas tops will be back in soon.  I like to think that kilometres are the same as miles at this early stage in my training programme but I am sure that as I improve and become faster and closer to a 4 minute mile target time, my conversion table will improve.  Bec came down to the gym with me today because she was meeting her mates for a swim and lunch-time drink with her friends (seems a little ostentatious for a 12 year old but why not). She was worried about me wearing my Speedos in the pool and insisted that I packed something more appropriate so that I wouldn’t be the most embarrassing father in the world or “dork” as this was explained to me.

No drinking has now lasted the whole of January and I have lost about 3 ounces (hence the gym) and still don’t feel particularly different. Perhaps I need to keep it up for a little longer. Will be taking delivery of a Volvo this week which is something else that I never thought I would do. I hope you believe me when I tell you that I didn’t buy it for safety reasons! It does apparently have a “Sat Nav” so I shall now find my way down hundreds of cul de sacs that I never knew existed.

 The conference committee met on Thursday and there are some exceptional ideas for this year’s event (20-22 September) with key note speakers about to be announced. The Art &Science event which will take place 18-19 May 2010 and Dr Maria Nemeth will be one of the key note speakers for this event.

I have had a number of conversations with PI Insurance companies and am convinced that we will be able at long last to engineer a scheme for Financial Planning firms after years of talking about it. Premiums generally will be going up and the IFP is keen to seek out opportunities that will benefit the membership.

Platform and back office developments are now aligning far closer to Financial Planning businesses.  I spent a morning with 5 top Financial Planning businesses looking at some of the latest developments to see how close they are getting to matching needs. Very interested to see how close they are getting.

I also judged the Money Marketing training and professional development category and was really impressed with the presentations that we received. It is really encouraging to see the positive stance that some firms and individual advisers are taking to the challenges set out with the RDR. Even some of the more mature generation are not only getting on with the exams without whingeing etc but enjoying the experience. They are passing without too much bother and actually finding that they are not only doing a better job but also earning more money as a result. This is undoubtedly a case study that we need to capture to share with others.

Another busy week ahead and back in the office on Monday where we shall be catching up with the FSA and the RDR and what we think might work going forward. Shall definitely be getting an early night on Sunday. Hope you all have a good one too

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