So 2010 has arrived and a jolly cold start to the year it is too! However I’m sure this won’t continue for long.
Firstly, Happy New Year to all our readers! We sincerely hope that you all get everything you wish for during the coming 12 months. Richard and I have been working hard over the Christmas and New Year break and have a number of exciting ventures planned for the first part of this year so keep coming back to see what’s happening. [click to continue…]
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Just a year ago, you would be forgiven for thinking that Social Networking websites were just for kids, but all of sudden the business world is using them as a powerful new tool for networking, marketing and sharing best practice. And yes, even the financial advice industry is getting on board too – because according to IFA Life around a third of all IFAs now have a Facebook page, with many also using LinkedIn and Twitter on a regular basis. [click to continue…]
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There is now a paraplanner league running on the JP Morgan Fantasy Fund Manager site which has been set up by Peter Smith-Round (thanks Peter). To join in the fun just go here, sign up and then search for the league which is called ‘theparaplanner.com’.
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All of sudden I appear to be a successful fund manager, albeit in a fantasy league. I entered the JPM Fantasy Fund Manager and currently stand in 31st place out of 8,000+ entries. My portfolio has adopted a ’shoot the lights out’ objective with a risk profile of ‘highly likely to crash and burn’ but it seems to be doing OK so far. Wondering if I could sneak this model into a real client’s portfolio.
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This is a very interesting article (with good links) from Morningstar in the US. In the investment industry, we think risk equals standard deviation. Therefore, risk can be measured, and the amount of risk we take can be controlled. It’s a nice, clean way to fit risk into our models. If clients can handle more risk based on their answer to our “risk tolerance” questionnaire, we just turn the dial, and increase their allocation to equities. [click to continue…]
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Many of you will have seen the post earlier this week about the latest Paraplanner Survey. A big thank you to all of you who have completed the survey. To those of you that haven’t had a chance yet, please see if you can find 5 minutes to complete this over the next few days. The last chance to do this will be Monday 30th November and everyone that does complete it will be entered into a prize draw with a chance to win some great prizes. [click to continue…]
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Many of you will remember that earlier in the year NMG in conjunction with the Paraplanner conducted the first and so far only survey into paraplanning in the UK. This dispelled a few myths, namely that all paraplanners want to go on to be Advisers, and also provided some vitally important data about the type of people paraplanners are and the influence they have within the Financial Services industry as a whole. [click to continue…]
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If any of you have been to one of my paraplanning workshops you will know that I am a big fan of mind maps and use them most days. I have just written a brief review of the three tools I use on my own blog and, rather than adding it here which is easier said than done (!), you can read it by clicking here if you are interested.
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Here at The Paraplanner we have been involved with the IFP in developing the new qualification for paraplanners. The syllabus has been published today and you can read it here. We would really like to know your thoughts so that we can pass these on. It would also be good to know what title you would like to be able to use once the exam has been passed.
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There is a broad spectrum of approaches to risk profiling. How far along the spectrum should advisers go in turbulent times, asks Cathi Harrison of Para-Sols?
One of the most striking and interesting aspects of financial services I have noticed is the huge variations that can still be found between firms and the way they operate.
The Financial Services Authority’s nirvana is that a consumer can go to 10 different IFAs and come out with the same advice or thereabouts. The likelihood of this happening is slim, however, and if it were to happen I would feel it was a sad day for financial services.
Advice may differ between firms, but so does the personality of each firm, its style, approach and method. And these can also vary greatly between advisers at a single firm. That is because they are human, not robots. [click to continue…]
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