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Reeve: Positive Solutions Partners Will Benefit From the “New Reality” of The Changing Business Environment
27/01/2011
Printable version
Printable version
REEVE: POSITIVE SOLUTIONS PARTNERS WILL BENEFIT FROM THE “NEW REALITY” OF THE CHANGING BUSINESS ENVIRONMENT
- Regulatory, economic and social changes will bring opportunities for partners
- Increased role for independent advice as consumers begin to take more responsibility for their financial futures
- Predicts that digital marketing and social commerce will revolutionise the way IFAs conduct business
Positive Solutions chief executive Jim Reeve has urged partners to embrace the “new reality” of the changed market brought about by a combination of the retail distribution review, the impact of the current economic climate on consumer behaviour, and the popularity of new technology and social networking.
Addressing partners today at the start of the Positive Solutions Partners’ Forum in Birmingham, Reeve said that the new environment creates opportunities for partners and said he believed that Positive Solutions has the right plans in place to ensure that the business emerges as one of the industry’s winners. Reeve will outline new initiatives for partners later today.
Reeve emphasised that he sees the new regulatory environment as a positive development for the industry. He said,
“Now, more than ever, our industry needs to send clients unequivocal signals that prove it can be trusted to have their interests at heart.
The purpose of the regulator is to maintain market confidence, improve awareness of the financial system and to protect consumers. Why would advisers not want to achieve this? We now have the right systems in place to ensure that Positive Solutions is known for its transparency and professionalism.”
Reeve said that he saw an increased role for independent financial advice as changes in the economic and social landscape, together with greater awareness of the fact that people are living longer, combine to encourage people to take more responsibility for their personal financial situation.
He said,
“Recent analysis of life expectancy by DWP showed that more than 5 million people who are currently aged between 16 and 50 are expected to live to be 100.
“In quarter 4 of 2010 we saw British homeowners reduce their total debt by another £6.1 bn – the tenth successive quarter in which repayments outstripped new borrowing. From my perspective, it looks as though the new economic reality involves the deleveraging of personal balance sheets away from personal debt and towards savings and investments. This represents an opportunity for all of us.
“The challenge for us as advisers is to help clients understand the new reality and to articulate our value confidently. We must go beyond the idea that IFAs sell products. We need to ensure that clients understand that we provide advice that is relevant to the times we live in.”
Positive Solutions has built a strong reputation for its use of technology in enabling partners to deliver excellent client service. In 2010 it upgraded its technology package for Partners by introducing new hybrid laptop technology and launching its new client website, www.thinkpositive.com.
Reeve predicted that current trends for new technology would see partners making use of social media networks such as Facebook and Linked-in, as well as smartphone apps to engage and interact with clients. He said,
“My personal view is that recent changes in digital communications and social media will revolutionize our business over the next few years. We will all need to understand these technologies better, in order to reach clients more cost effectively and in a more engaging way, which demonstrates the value of your relationship with them as an adviser.”
Reeve will outline further business developments at the Partners’ Forum later today.
– ENDS –
For further information:
Lesley McPherson
AEGON UK
0131 549 3782/07740 897541
• Positive Solutions is a leading national IFA with over 1,500 registered individuals. It is owned by AEGON UK.
• In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £55.9 billion and employs approximately 4,000 staff in its life and pensions business, of which 2,400 are based in Edinburgh.
• As an international life insurance, pension and investment company based in The Hague, AEGON has approximately 28 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating investments totalled EUR 405 billion at 30 September 2010.
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- Regulatory, economic and social changes will bring opportunities for partners
- Increased role for independent advice as consumers begin to take more responsibility for their financial futures
- Predicts that digital marketing and social commerce will revolutionise the way IFAs conduct business
Positive Solutions chief executive Jim Reeve has urged partners to embrace the “new reality” of the changed market brought about by a combination of the retail distribution review, the impact of the current economic climate on consumer behaviour, and the popularity of new technology and social networking.
Addressing partners today at the start of the Positive Solutions Partners’ Forum in Birmingham, Reeve said that the new environment creates opportunities for partners and said he believed that Positive Solutions has the right plans in place to ensure that the business emerges as one of the industry’s winners. Reeve will outline new initiatives for partners later today.
Reeve emphasised that he sees the new regulatory environment as a positive development for the industry. He said,
“Now, more than ever, our industry needs to send clients unequivocal signals that prove it can be trusted to have their interests at heart.
The purpose of the regulator is to maintain market confidence, improve awareness of the financial system and to protect consumers. Why would advisers not want to achieve this? We now have the right systems in place to ensure that Positive Solutions is known for its transparency and professionalism.”
Reeve said that he saw an increased role for independent financial advice as changes in the economic and social landscape, together with greater awareness of the fact that people are living longer, combine to encourage people to take more responsibility for their personal financial situation.
He said,
“Recent analysis of life expectancy by DWP showed that more than 5 million people who are currently aged between 16 and 50 are expected to live to be 100.
“In quarter 4 of 2010 we saw British homeowners reduce their total debt by another £6.1 bn – the tenth successive quarter in which repayments outstripped new borrowing. From my perspective, it looks as though the new economic reality involves the deleveraging of personal balance sheets away from personal debt and towards savings and investments. This represents an opportunity for all of us.
“The challenge for us as advisers is to help clients understand the new reality and to articulate our value confidently. We must go beyond the idea that IFAs sell products. We need to ensure that clients understand that we provide advice that is relevant to the times we live in.”
Positive Solutions has built a strong reputation for its use of technology in enabling partners to deliver excellent client service. In 2010 it upgraded its technology package for Partners by introducing new hybrid laptop technology and launching its new client website, www.thinkpositive.com.
Reeve predicted that current trends for new technology would see partners making use of social media networks such as Facebook and Linked-in, as well as smartphone apps to engage and interact with clients. He said,
“My personal view is that recent changes in digital communications and social media will revolutionize our business over the next few years. We will all need to understand these technologies better, in order to reach clients more cost effectively and in a more engaging way, which demonstrates the value of your relationship with them as an adviser.”
Reeve will outline further business developments at the Partners’ Forum later today.
– ENDS –
For further information:
Lesley McPherson
AEGON UK
0131 549 3782/07740 897541
• Positive Solutions is a leading national IFA with over 1,500 registered individuals. It is owned by AEGON UK.
• In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £55.9 billion and employs approximately 4,000 staff in its life and pensions business, of which 2,400 are based in Edinburgh.
• As an international life insurance, pension and investment company based in The Hague, AEGON has approximately 28 thousand employees world wide and 40 million customers in the Americas, Europe and Asia. AEGON's revenue generating investments totalled EUR 405 billion at 30 September 2010.