Commitment

Combined with todays early morning motion and debate in the House of Commons, I recently read an article in a professional magazine (MDRT, Round the Table, Commit to your future) which has prompted me to write this blog post.

The article discussed how keeping pace with change requires constantly renewing commitment to clients and the financial services profession.

It occurred to me this might be another area where I undertake a lot of work ‘backstage’ but I am guilty of not telling clients and putting it ‘frontstage’.

The financial services profession is often overloaded with uncertainty. Changes in economics, legislation, tax, Government, products, providers – the list is endless.
Even I am guilty in a small way having changed my company operating name a few times over the last few years.
In fact it seems change is the only certainty.

And this is true of other professions, not just the financial world.

I see part of my role for my clients in bringing certainty, in an uncertain world, to their financial life.

I find many clients are calling for an evolved adviser. They want someone who is always learning, adapting and growing with each change to the marketplace rather than retreating.

In the House of Commons today the FSA ‘RDR’ (Financial Services Authority Retail Distribution review) was being debated, with many MPs opposed on behalf of their local IFAs. There are parts of the RDR I am opposed to – I think that unfortunately it will make it easier for the banks to sell unsuitable products to the mass market – and thus continue ‘mis-selling scandals’ – but there are giant swathes of the RDR that I am massively in favour of.

One of these is education.

Since starting as an IFA (15 years and counting now) I have undertaken Continuing Professional Development each year. I also make sure I have at least the minimum educational requirements whenever they are changed (I currently have more than the minimum) and I continue to take exams in areas I operate in (next up is the Society of Tax and Estate Practioners Trust exams in early 2011)

Commitment to Education
As an adviser I believe education is the cornerstone of continued success for my clients. Not only what is in my head but also paying large sums of money each year for access to the very best professional minds and publications available. If I don’t know the answer myself, I know a man (or woman) that does.

But it is not just education that makes a financial adviser. So here are a few other commitments that I make personally and as Green Financial.

Commitment to Expertise
There is a difference of course between the kind of experience and knowledge I am referring to and that which anyone can google. If looking for an answer that has serious consequences for a client’s finances, I know I’d rather it was coming from the mouth of an expert in the field rather than Wikipedia! Information and data are everywhere, knowledge and wisdom are harder (and more expensive) to come by.

Commitment to Green Financial clients benefit
To analyze what is working in the business and re-evaluate any areas found in need of attention
Build long lasting strategic alliances and professional connections
Assemble a team of experts and professionals

Commitment direct to Green Financial Clients
To offer a bespoke, personalised service, where ‘everyone knows your name’
To strive to exceed expectations
If it ever goes wrong, admit it, and put it right
Help clients understand how new rules and regulations affect them personally
Maintain a genuine concern for clients’ objectives (see also http://www.iangreen.com/ethics.php )
Never, ever forget that it’s your money

Commitment to my professional standing
To give back, by being an active member of local, national and international professional organisations (see future blog post for more on this)
Strive to be on cutting edge, to lead and educate, but to retain traditional values
Learn from other professional experts