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On the road with New Model Adviser

On Tuesday 9 May 2017, I had the pleasure of being invited to attend the New Model Adviser event held at The Grand Central Hotel in Glasgow.  Following my January cover star appearance in their industry publication, I was thrilled to have been invited.

New Model Adviser host an extensive range of events throughout the year, across the country for the UK’s leading financial planners.  Their aim is to link advisers to a large pool of fund management and retirement planning talent.  Such events are also a great opportunity to hear from guest speakers, including representatives from the Chartered Insurance Institute (CII) and a selection of fund managers from leading investment houses.

The overriding topic at the Glasgow event was about encouraging and developing the next generation of financial advisers, something that I am keen to do as David Allen Financial Services continues to grow.

Guest speakers included Steve Bee, a prominent Pensions Strategist, who highlighted the increasing need for people to seek financial advice, given the complexities surrounding retirement planning.  He felt that moving forward, more and more people would require good quality financial advice and that without new blood coming into the industry, demand could potentially outstrip supply.  The average age of a financial adviser he stated was 51, which is worrying in an ever increasing regulated industry where sound advice is needed.  I obviously bucked the trend!


Several large fund management houses provided insights into their opinions on the world economy and the potential issues that face investors in the months ahead.  This included the current low interest/yielding environment we are in.  How can people achieve their income and growth needs, in such a turbulent investment market?

The final two sessions of the day included an open forum with Dr Matthew Connell, Director of Policy and Public Relations at the CII, who discussed some of the biggest challenges facing the profession.  For example, who should cover the long term private liability insurance cost for advisers from potential future complaints and to close the day, a panel of owners from leading financial services companies held a debate on how to grow a successful financial services business.  Regarding the latter, the overriding view was that businesses need to focus on the client, while ensuring effective succession planning and development of the next generation, the future adviser was underway.

As well as listening to the great speakers, I found the day was a real benefit to me.  It provided an opportunity to not only collaborate with my peer group while learning about how they are running their financial services businesses.  Always food for thought…

Steve Balmer

Managing Director

Posted: May 10th, 2017

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