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2009 Full Of Promise Says Positive Solutions Chief Executive Jim Reeve
13/02/2009
Printable version
Printable version
2009 to offer huge growth opportunities
Positive Solutions believes 2009 will offer huge opportunities for growth in IFA numbers with an aggressive recruitment campaign targeting the recruitment of a further 250 high quality financial advisers.
In his speech at the Positive Solutions National Forum in Birmingham, chief executive Jim Reeve said the company has the reputation, financial strength and technological excellence to build on its position as the UK's leading National IFA and to deliver a prosperous future for its Partners.
"Through your determination, skill and sheer hard work we will have outperformed all major competitors," he told the audience of 1,000 Partners. "For that I thank and congratulate you. 2009 will focus on increasing your income, driving aggressive recruitment and further positioning ourselves for the post-RDR world."
He said he believed most banks had lost the trust of consumers "not just for a few years but for at least a generation." He said this distrust, the rebuilding of a savings culture and regulatory change will drive a revolution in the IFA sector. "The opportunities for high quality face-to-face advice are truly enormous," he added.
He said that during 2008 Positive Solutions had continued to deliver operating profits off the back of strong income performance. During the year 139 new Partners joined the company and recruitment so far this year had seen "momentum building". The company also plans to extend its unique Apprenticeship Scheme, targeting as many as 500 apprentices by the end of next year.
"We see major recruitment opportunities, particularly in the bancassurance and directly authorised markets," he said. "The DA sector is vulnerable and exposed with the reality of rising FSA fees, PI costs and the impact of TCF - not to mention capital adequacy."
He said there are two key issues advisers should be considering. First, their willingness to attain QCA level 4 qualifications enabling them to continue advising beyond 2012. He said he would support moves for a two year extension to allow those advisers still to qualify to continue advising under supervision. "Our objective is to retain every single one of you beyond 2012 if that is what you want," he said.
The second key issue is the desire to change their business models so that remuneration is agreed with the client and Partners are paid regardless of product purchase. "I realise some of you have already moved in this direction but for many this will mean a radical change and we will support you throughout," he said.
"Our future is a Positive Solutions that supports all high quality advisers no matter their business model, a Learning Academy and Partner Development Consultant team that enables you to secure the necessary professional qualifications and help evolve your proposition through practical support, a Practice Buyout that enables you to sell your business should you choose to, and an Extranet rich with content supporting you to build valued long-term client relationships.
"In conclusion, change is always with us. With our market leadership position and our clear view of the future I truly believe this year will be exciting, rewarding and full of promise."
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In his speech at the Positive Solutions National Forum in Birmingham, chief executive Jim Reeve said the company has the reputation, financial strength and technological excellence to build on its position as the UK's leading National IFA and to deliver a prosperous future for its Partners.
"Through your determination, skill and sheer hard work we will have outperformed all major competitors," he told the audience of 1,000 Partners. "For that I thank and congratulate you. 2009 will focus on increasing your income, driving aggressive recruitment and further positioning ourselves for the post-RDR world."
He said he believed most banks had lost the trust of consumers "not just for a few years but for at least a generation." He said this distrust, the rebuilding of a savings culture and regulatory change will drive a revolution in the IFA sector. "The opportunities for high quality face-to-face advice are truly enormous," he added.
He said that during 2008 Positive Solutions had continued to deliver operating profits off the back of strong income performance. During the year 139 new Partners joined the company and recruitment so far this year had seen "momentum building". The company also plans to extend its unique Apprenticeship Scheme, targeting as many as 500 apprentices by the end of next year.
"We see major recruitment opportunities, particularly in the bancassurance and directly authorised markets," he said. "The DA sector is vulnerable and exposed with the reality of rising FSA fees, PI costs and the impact of TCF - not to mention capital adequacy."
He said there are two key issues advisers should be considering. First, their willingness to attain QCA level 4 qualifications enabling them to continue advising beyond 2012. He said he would support moves for a two year extension to allow those advisers still to qualify to continue advising under supervision. "Our objective is to retain every single one of you beyond 2012 if that is what you want," he said.
The second key issue is the desire to change their business models so that remuneration is agreed with the client and Partners are paid regardless of product purchase. "I realise some of you have already moved in this direction but for many this will mean a radical change and we will support you throughout," he said.
"Our future is a Positive Solutions that supports all high quality advisers no matter their business model, a Learning Academy and Partner Development Consultant team that enables you to secure the necessary professional qualifications and help evolve your proposition through practical support, a Practice Buyout that enables you to sell your business should you choose to, and an Extranet rich with content supporting you to build valued long-term client relationships.
"In conclusion, change is always with us. With our market leadership position and our clear view of the future I truly believe this year will be exciting, rewarding and full of promise."