Hi everyone,
I don't have anything spectacular to send out today, but I did just wanted to take the time to quickly thank all of you still on here who stuck it out. Thank you for your support and also just checking in with me at times.
We all get a lot of spam and junk mail and with all the somewhat overly aggressive email filters in place these days, so its increasingly challenging to just keep in touch with folks at times.
Some of you will also note that there are a few bigger firms who no longer qualify to work with us.
Having been on all sides of the table in this industry, I pretty much know who's who in the zoo, and I guess as the boss here, I also get to choose who we work with, and continue to work with. Simply put, YOU deserve the best employment and contractor options, and we're not in the "throw-mud-against-the-wall-and-see-what-sticks-business" and so options are reviewed from time to time. Sometimes, less IS more.
Firms like a longstanding client of ours called Infinity Financial Solutions in South East Asia have been acquired recently, and groups like AHR, Blacktower and a few others have also been bought out over time. So for those of you who prefer and want to maintain a more personal and bespoke touch — those who may want to avoid being slurped up into some of the usual larger-than-life machine firms out there — we’re able to provide some excellent alternatives.
That all said, as most of you have known for some time — and others may have realised more recently as you contemplate changes — the entry bar has been raised quite a bit with most clients, and everybody is chasing AUM. Some advisors may understandably feel that certain firms are seemingly just after their AUM and not much else, but do keep in mind that having decent AUM is, more often than not, also a strong indicator of your success and achievements.
Sure, some folks do sell their AUM, OR can simply NOT take it with them for legal reasons , but there is at least a record of it. The challenge for us is that there are also folks who have been in the industry seemingly forever with very little to show for it. It’s simply not as easy to place individuals like that as it may have been 10–15 years ago.
There are no more "let's give it a try and hope for the best", policy peddling and boiler-room style environments and "opportunities". Consumers have just become increasingly more sophisticated and informed, and so everybody across the board had to up their game.
This is generally good for consumers, but CAN be more challenging than before for many IFA's with many changes in how commissions are paid for example. BUT...if you're playing the long game, -if you enjoy what you do and more so are GOOD at helping people to help themselves and plan for their financial futures, then there's a LOT of money to be made and you'll know what I' talking about. The sound ADVICE is more and more outpacing the more aggressive sales-y approach, although hard work and determination will always be very important in any recipe.
Of course this is, and always will be a numbers game in this mostly "eat-what-kill" industry, but methods and strategies are ever evolving and those who embrace this and stay plugged in WILL ultimately win over of the still-too-many "hit-and-run" operators out there. Persistency and consistency is the key...although I've seen a few big names regress on that front-, some starting with the best of intentions, are LinkedIn super posters...are seemingly the "IT crowd" for a while and over time regressing to spank shop type business and modus operandi.
Anyway, enough of that!
Please do note that I have some Will & Estate Planning service news coming your way soon from a very successful chap I've placed a few years ago, who now runs his own business.
We’ll also be sharing news about a firm and service dedicated to US-domiciled clients residing in the United States, with a strong focus on US/UK cross-border planning. This includes fully regulated advice on UK pensions, US-reportable assets such as IRAs and 401(k)s, as well as tax-sensitive structuring and financial planning for clients based in the US — all delivered within a fully SEC-aligned framework....so keep an eye out!
