Dear Diary, Tuesday

I was so busy last week I didn’t have time to blog.
So this week I thought I’d write up a diary of last week to give a little insight as to what I get up to, where I do it and who I do it with!


Tuesday 12th October

An early start as I head into The City for a breakfast meeting with one of our key business/technology supplier/partners – Standard Life.

Green Financial use the Standard Life Wrap as a core part of our wealth management proposition for clients so keeping up to date with changes and improvements – and ironing out the occasional problem – is a key strategic job for me.


The time passes pleasantly and quickly eased by a delicious coffee from a small, niche, establishment you may not have heard of. If you ever notice a shop called tucked away on a street near you, do give it a go. I think 'Starbucks' might catch on…


Straight off then to the Hoxton Hotel. The location of recent client visits mean I get a hatrick of mentions on Twitter from the Hoxton Hoxbot!

Today though is an all day training course on a piece of software I use for client lifetime cashflow forecasting.

I learned a number of new things, brushed up on a few elements I was rusty on but as always, despite the course and trainer being of the highest quality I would argue I learned as much from my fellow delegates as the material itself.

Perhaps the biggest eye opener for me in using this software in recent times, given where we are as a nation economically, and why my clients consult with me on their financial planning, is the use of annuities in lifetime cashflow creation. Annuity has almost become a dirty word in some quarters but there is no doubt that for the right person, at the right time, an annuity can be key to a lifetime of income – or to put it another way, a great way of ensuring that bills can be paid for life without worrying about running out of money. But as with all similar things, they are not right for all folks at all times.
More information on how I use this software with clients is on my website at http://www.iangreen.com/timeline.php

As I cram onto the tube in rush hour to return home I consider myself thankful that I don’t have to do this everyday now that Green financial is located ten minutes from my house in Putney and make a mental note to sign up to the Boris Bike scheme to avoid the crush in future.

Continuous Professional Development

left to right top

Tax Planning Opportunities, Retirement Income Planning,

left to right 2nd row: Global Absolute Return Fund, Trustee Investment Planning, ETFs/ETCs/ETNs

If there is one thing you can be sure of with financial services rules and regulations and taxation legislation, it is that there will be change. Almost constant change. Whether driven by taxation changes, politically driven or otherwise, economic changes, product innovation or any number of other variables, change is constant.

So as a financial adviser, whilst I retain a formal study program to continue to pass ever higher qualifications, Continuous Professional Development (CPD) is a large part of my role. I typically undertake around 400+ hours a year to ensure I am able to obtain the latest knowledge to provide clients with the best possible service.

Much of the study consists of reading professional papers, journals and periodicals but a number of times each year I undertake other forms of study, such as the masterclasses on offer at the Citywire event in Brighton I attended this month.

In the first picture above I am discussing cutting edge (entirely legal and approved) tax planning techniques with David Fagan (over 25 years experience in life assuarnce industry) and Rick Warner (Tax and Estate Planning Manager) of Legal and General. These seminars provide access for me to the very best brains in the business on subjects of great relevance to my clients, thus ensuring I can deliver the solutions I promise.

The quality of the information, knowledge and most importantly wisdom on offer surpasses greatly anything the 'man in the street' can usually access via the general financial press or general literature - it is the type of data usually only found in more academic papers or less obvious texts - thus giving my clients, via me, a shortcut to the best possible information and advice available today.

In the second picture with his laptop open at his presentation is Mike Morrison, Head of Pesions Development at Axa Wealth. Previously a financial adviser himself, he has over 20 years experience in the field and regularly engages with Government and professional bodies on pensios development. His was a fascinating lecture on why 'Retirement Planning is not just Pension Planning' - a topic that any client of mine will know is dear to my heart.

The 3rd and 4th pictures show me first with Tam McVie, Investment Director at Standard Life and investment specialist for the Global Absolute Returns Fund, then with Steven Sands, Head of Platform at Standard Life. We were discussing the use of this fund as a suitable tool for trustees, especially considering the duty of care requirements stretching right back to the Trustee Act 2000 and more recently the Legal Services Act 2007 (more on this in a later blog)

Finally, picturewise, one of the usual conference 'goodie bags' on offer. As I try to be 'Green by name, Green by nature' I only accepted one and put all my other documents in it. I didn't accept any of the more frivolous freebies (snoopy toy, mints, flashlights etc), but of course did take the opportunity to stock up on branded pens and post-it notes for the office :-) Build a better life by stealing office supplies, as Dilbert says!

Lyxor, provider of the pictured bag gave a fascinating presentation on ETFs, ETNs and ETCs - A type of investment familiar to Green Financial clients in our passive model portfolios and a more and more frequently used fund type these days. But like anything, it pays to be aware of the detail - another reason why attending seminars such as this and being able to talk with individuals such as Alexandre Houpert, the Head of Listed Products for Northern Europe is so valuable. Alexandre is one of the people who construct the funds and associated products so chatting to him - and looking in the whites of his eyes - as readers of yesterday's blog will know, is an opportunity not to be missed.

There were many other sessions over the days, too numerous to detail here but covering all manner of subjects from the use of guaranteed plans from the likes of Richard 'Shep' Sheppard of MetLife with their product (again, familiar to many clients of Green financial) that can protect investments from market drops through to a fascinating talk on The Psychology of Portfolio Construction from acknowledged expert Graham Bentley, now of Skandia and previously at Virgin Money.

So why blog about this?

It came from a recent client conversation where I realised that much of what goes on 'backstage' at Green financial is never seen by clients 'frontstage'. The 400+ hours of CPD a year, the ongoing gaining of higher qualifications, the days spent away from work (and family) extending knowledge, all in search of that special something that will enhance my service to clients.

So I hope you found it interesting to see a little of what goes on behind the scenes.