What's new and planned for 2012 and beyond
We will have common branding across both our website and headed paper with Artwork from local artist Nigel Wallace. Initially we will be using Nigel's picture of Ramsgate Harbour.
In due course we hope to agree a fair fee to use many of their other pictures, most if which are of Kent. Please see their website http://www.whiteonesugar.co.uk/index.htm
In early January 2012 we have two new additions to the team. Abbey and Danielle will be undertaking a level 2 Business Adminstration Apprenticeship with us. We hope to round their skills and knowledge by working closely with other businesses who might like to benefit from their a few hours of their enthusiasm in return for showing them how their businesses work.
From January 2013 several changes will take place.
- All financial advisers will need to have increased their qualifitaion levels to above a new minimum of QCF 4, which is broadly equivalent to the first year of a batchelor's degree.
- It will no longer be possible for advisers to take commission in respect of new advice and will instead be required to agree "Adviser Charging" Methods with their clients.
- Advisers will be re classified either Independant or "Restricted"
On the first issue, I am pleased to say that all our advisers have already obtained qualifications in excess of this minimum, but it is always worth asking your adviser what additional qualifications they hold and what they do not hold to see if you would benefit from being introduced to an adviser with an additional qualification. Note I say "Additional" and not "Higher" as your GP IFA is just as valuable as your focused specialist who is no more valuable than the GP.
It is often the case that your GP adviser acting as your "relationship manager" can arrange to introduce you to an adviser with an additional qualification for a specific area and then continue to advise you going forward on other issues.
On the second issue, I am pleased to say that since April 2010 we have been operating on a full "Adviser Charging" basis and when any commission is still received, offsetting this against our tariff fees.
On the third issue, whilst it is our preference to remain "Independant", the reality may be that we will offer clients the choice of Restricted or Independant. A decision will be made nearer the time once the Financial Services Authority have clarified a number of the implciations of both types of advice.