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Reasons to be cheerful: why advisers are optimistic about 2013

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Transparency, ethical investments and a changing perception of financial planning- six advisers talk to New Model Adviser® about the things they're looking forward to over the coming year.

Steven Hennessy

Associate director, Myers Davison Ginger

‘I’m excited by the prospect of consumers becoming better informed about financial advice and financial planning. I’ve already seen an increased awareness amongst the solicitors I collaborate with of the distinction between restricted and independent advice. The confusion this will generate, whilst regrettable, does mean people will have to think harder about where they get their advice, and take an increased interest in how their financial adviser’s business operates, and to whom their advisers are truly accountable.’

Jody Banks

Director, Caple Banks

‘With so much noise and last-minute amendments to the retail distribution review (RDR), we are enthused by the prospect of finally getting on with it! We have always welcomed the changes and while we appreciate they have caused some pain for IFAs adapting their practices to accommodate the regulation, we see great opportunity for good practices to flourish over the coming years.’

John Ditchfield

Managing partner, Barchester Green Investment

‘We’ve recently succeeded in securing something of a landmark case with one of the world’s largest and most successful environmental charities. The organisation concerned had become increasingly aware that their policies on investment did not match their campaigning stance on issues such as climate change and human rights. Although it’s been a long time coming, we believe many more charities and social enterprise businesses want to investigate their institutional investment options as a way of managing reputational risk.’

Chris Daems

Director, Principal Financial Solutions

‘This year will be the turning point for the public’s perception of financial planning. With professional standards increasing, charging becoming more transparent and the continued focus on efficient and sustainable business practices, I’m excited about the impact this will have. While not all of the effects will be seen in 2013, I believe this year signals the start of a journey towards our profession being considered as important as others, such as accountancy and law.’

Ian Roberts

Director, ARW Wealth Managers

‘I’m excited about professionalism, and the fact that we can we be paid for the services we perform for our clients. The transparency the RDR will bring is positive, as is the level playing field for those of us who have been fee-based for years. Control is now back in our hands rather than solutions for clients being driven by less consumer-conscious insurance companies.’

Quentin Holland

Managing director, PQR Financial Planning

‘I’m looking forward to interviewing more new talent who have been attracted to work for an independent, chartered firm. I have seen a great improvement in both quality and quantity of advisers coming to the firm and hope to see this continue. While it may take time for the RDR to settle in, I think those advisers who are well-trained, prepared and suited to it will see a great increase in business and will be able to flourish. From a business perspective, unprepared firms and advisers can only be a good thing for us.’

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