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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 #49 - You know it makes sense - 22/01/2010

The Professional Adviser awards proved to be a real adventure last night. Big congratulations to Jane Wheeler FIFP, CFP^CM for winning the Consumer Education prize for the Financial Planning book “Sorted DIY Financial Planning” that she has written. Jane looked fantastic as she collected her prize with a sort of double breasted outfit which the ventriloquist’s monkey most certainly took a shine to.  She tells me that the book is available from all good book stores and if you can’t find one, you will find it on Amazon. All the other nominations were Financial Planning firms which are part of the IFP. The ventriloquist was Nina Conti who was very funny. The Incisive Media team praised the IFP for its contribution in 2009 and I was delighted to present the award for “RDR Initiative” to Scottish Widows and the Paraplanner prize as well.

Now into the third week of not drinking, I remain a complete bore at these functions although somewhat reducing the bar bill (G&T £13 at the Hilton Park Lane). I have probably lost an ounce so far and the gym definitely beckons, otherwise this will have been a complete waste of time apart from the fact that I can of course now remember all the antics and conversations. Some of these of course are instantly forgettable as are some of the business cards that are exchanged. Some will provide entertainment for months to come and Justina Williams will certainly fall into that category. After the dinner the really cheap bar beckoned on the 32^nd floor. From here you could see the whole of London except for the fact that it was dark. Water was still free so I started on my third gallon (my complexion must be getting really good by now surely!) whilst others experimented with cocktails and the most disgusting peanuts surely ever put in a bowl. For some reason despite the late hour there was a strong desire to visit a club or casino and at this particular hour there did not appear to be many options. I was amazed when the group were actually contemplating a private club in Bond Street at the bargain basement price of £700 (just for the table). Common sense eventually prevailed not before the need to search out more extravagant establishments. Ended up going to bed later than when having a complete skinful!

This week saw the first Masterclass for CFP professionals which was exceptional. Not enough delegates in my opinion for so much priceless experience and willingness to share. Look out for more of these. It will be difficult to find much better value for money to take away real strategies to use in the business. Pleased at the feedback to the online CPD platform that delegates were using. It is likely that all CFP professionals as well as all advisers will have some CPD gap filling over the next couple of years even though the qualification itself falls into the “No regrets” category provided by the FSA. We will shortly be circulating the areas where we think most will have gaps to test what support is needed to fill these gaps in a sensible way over the next 3 years.

I am key note speaker and chairman at the “Funds5live” roadshow at the end of February and March. I will be covering the key challenges facing advisers over the next 3 years and will spend some time on the gap filling and other areas where there are some concerns or areas of concern. It would be great to see members and others at one of the venues. All the info can be found http://www.financialplanning.org.uk/planners/events_details.cfm?ID=807

Exciting news in the Cann household this week apart from my birthday. Youngest daughter Bec has been selected to perform Annie in Chepstow Youth Theatre’s production this summer which is exciting. Also new washing machine has arrived (not quite main birthday present) which will now provide hours of fun over the weekend. Must also get out and have a look at how to put up my new greenhouse (hope to grow lots more CFP professionals there this year) in between Heineken Cup rugby matches. Hope you all have a good weekend with no snow to contend with!

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