New Model Adviser Podcast

This week, 70 UK companies began a six month trial of a four-day working week. But a shorter working week is nothing new for Beaufort Financial Planning. In this episode of The Advice Show, director Gwilym Lloyd Jones discusses why a four-day week has been a success at his firm.

In this episode, Progeny's head of research, Robert Harrison, said China is looking 'more interesting' as a region to invest in, despite the continued lockdowns and ongoing economic uncertainties. And Harrison and Jamie Ward, head of investment solutions at AJ Bell, discuss why the UK has become an increasingly attractive market for their portfolios.

Advice firms should not divest their climate-unfriendly assets and could do more to direct clients' investments in to sustainable funds, according to a senior policy fellow at the Grantham Research Institute on Climate Change and the Environment. At Citywire's inaugural Impact Retreat, Danae Kyriakopoulou spoke to reporter Nicola about the link between climate and financial risks.

How do you analyse a universe of 8,000 stocks being picked by the world's best performing fund managers? That is a question Dan Grote and Algy Hall have been answering with their new Fix the Future project for Citywire. Here they explain to us the thinking behind their analysis and what they will be looking for in the best managers. They also explain why this is not about ESG, and how the world has changed since Dan was writing NMA's 'green pages' back in 2007.

In this episode of the Advice Show for Mental Health Awareness week, mental wellbeing advocates Kate Erman and Anastasia Vinnikova share with reporter Chloé Meley some practical tips to help advice firms support their employees' mental health.

ESG or impact fund managers often hold healthcare stocks because they align with the United Nations' third Sustainable Development Goal: to ‘ensure healthy lives and promote well-being for all at all ages'. However, many larger healthcare companies have controversies to their name, ranging from charges of bribery to poor care. There is also a question about their role in the privatisation of healthcare in countries such as the UK which have a public health service. Chris Welsford, managing director of Ayres Punchard Investment Management, discusses a well-known example: Centene, a £67.2bn US health insurer. We discuss the company's controversies, our engagement with sustainable funds holding Centene, and investing for positive impact.

In this episode of the Advice Show, reporter Chloé Meley speaks to two decentralised finance experts, Caroline Hughes and Lavinia Osbourne, about where DeFi opportunities lie for the UK in general and for the financial services sector in particular.

In this episode of The Advice Show, Kevin Doran, managing director of AJ Bell Investments, discusses 'Dodl', AJ Bell's consumer investment app aimed at first-time investors.

In this episode of the Advice Show, Citywire New Model Adviser reporter Chloe Meley speaks to founder of Contact State Alain Desmier and director of Vision Business Advisers Peter Trotman about why lead generation in the advice industry should be better regulated, and why due diligence on the part of advisers is crucial.

Desiree Fixler was formerly the group sustainability officer at German asset manager DWS. But after accusing DWS of publishing misleading information about its ESG integration and assets, she was fired. In this interview, Fixler shares her story, unpicks common issues within the ESG investment universe, and calls for a reform of how sustainability is regulated.

In this week's edition of The Advice Show, NMA's James Fitzgerald speaks with PIMFA's Tim Fassam about how the FCA's British Streel redress scheme could affect the pensions transfer market.

This episode of New Model Adviser is a 'cost of living' special. Reporter Nicola speaks with Jessica Geere, financial planner at Magenta Financial Planning, Steven Cameron, public affairs director at Aegon, and Jon Dean, head of retirement strategy at Altus.

Crypto and NFTs are rising in popularity, despite the high volatility of digital assets. In this episode of the Advice Show, Jonathan Warren discusses the risks and opportunities of crypto investments, and how advisers should approach the crypto conversation with their clients.

In this episode of the Advice Show podcast, news editor Laura Purkess speaks to tax experts Tim Stovold from Moore Kingston Smith, Andrew Aldridge from Deepbridge Capital, and Jessica List from Curtis Banks, about how advisers can make the most of tax-year end for both clients and their own businesses and staff.

After his speech at the NMA Conference & Awards historian David Olusoga sat down with NMA deputy editor Jack Gilbert to discuss how the UK is confronting the evils of slavery and colonialism and what financial services firms are doing about their own past role in the system.

Clients' expectations of their advisers have changed. In this episode of The Advice Show, a managing director of wealth management firm Charles Stanley joins New Model Adviser to discuss how advisers can make the most of technology, from client portals to social media, to manage client demand and increase efficiency.

St. James's Place director Alex Loydon speaks to NMA's James Fitzgerald about how the advice giant's advisers are helping their clients through the cost of living crises.

In this episode of The Advice Show, Citywire AA-rated fund manager Samantha Gleave chats to reporter Nicola about how macro market events have affected her stock selection decisions - from the indirect impact of a Russian invasion in Ukraine to incoming sustainable disclosure regulations.

In its first new digizine edition, NMA meets planners Colin Low and Jonathon Crisp to hear all about their joint DFM venture RXi Wealth

The FCA is set to implement its wide-ranging Consumer Duty later this year, which will see regulations that cover all forms of advice and client outcomes strengthened for all advice firms. SimplyBiz head of consultancy, Karl Dines, runs NMA senior reporter through the FCA's new regulations, and talks about why they will be good for advisers and consumers in the long run.

In this edition of The Advice Show, The Lang Cat's principal, Mark Polson, reveals to Citywire New Model Adviser senior reporter James Fitzgerald what advisers are thinking, and why consolidation and regulation are the biggest topics in this year's State of The Adviser Nation report.

In this episode of The Advice Show, reporter Nicola Blackburn speaks with Gillian Hepburn, head of UK intermediary solutions at Schroders. In December, Gillian published the 2021 edition of the Schroders UK Financial Adviser Survey, which gained responses from 203 advisers across the UK. The survey captured how advice businesses were facing up to trends affecting the profession in 2021, such as increased M&A activity, and rising client interest in sustainable investing and cryptocurrencies. Gillian and Nicola discuss some of the key findings in this episode, and Gillian uses her 'crystal ball' to predict what advisers should look out for in 2022.

In the first episode of The Advice Show for 2022, Citywire NMA senior reporter James Fitzgerald speaks with 7iM's head of investment and ESG, Terence Moll. Moll tells Fitzgerald that the FCA's proposed climate disclosure regulations will help wealthy financial firms provide clarity on their net-zero goals and investments, and explains why world governments need to implement a carbon tax to tackle climate change.

In this week's episode of The Advice Show podcast, ShareAction CEO Catherine Howarth discusses whether the world's largest asset managers are stepping up to their proxy voting responsibilities. She reveals to New Model Adviser reporter Nicola Blackburn that the world's largest asset managers do not support two thirds of ESG resolutions in their proxy voting.

In this episode of the Advice Show podcast, news editor Laura Purkess speaks to Tom Skinner and Emma Walker, co-founders of advice firm Barnaby Cecil, about whether changes to the tapered annual allowance have resolved problems with doctors being hit with high tax charges and whether more could be done to ease pressure on the NHS.

In this episode of The Advice Show, New Model Adviser reporter Nicola Blackburn talks to Daniel Martin, creator of TikTok, Instagram and Twitter platforms @dantalksmoney. The NMA top 35 NextGen adviser shares his insights into the financial values of Gen Z and discusses how to bridge the financial literacy gap among young people.

In this episode of The Advice Show podcast, reporter Nicola Blackburn speaks with Ashley Claxton, head of responsible investment at Royal London Asset Management. Claxton discusses the health of the green bond market, pinpoints investment opportunities in this developing space, and shares her thoughts on what makes a green bond credible.

In this episode of the Advice Show podcast, Citywire New Model Adviser journalist Laura Purkess speaks to Taylor Beavis, director of Universe Financial Advice, about how imposter syndrome affects him. He talks about some of his biggest successes to date, and how he keeps his imposter syndrome under control so it does not stop him achieving his goals.

In this edition of The Advice Show, Citywire New Model Adviser senior reporter James Fitzgerald speaks with Quilter Financial Planning's investment director Rick Eling about his new scam avoidance framework and why the regulator shouldn't have to push advisers to embrace ESG investing.

In this episode of The Advice Show podcast, reporter Nicola Blackburn speaks to Gavin Francis, CEO of Worthstone, a hub of impact investment resources for financial planners and advisers. Nicola and Gavin discuss how to navigate the convoluted world of ESG data, the place of 'transitioning' companies in ethical investors' portfolios and what could really be happening beneath a fund's surface. They also discuss incoming UK regulation that will mandate sustainability disclosures for asset managers, and Gavin has a think about why some advice firms are faster at integrating 'impact' considerations in to their practise than others. 'When a firm is committed to developing a solution for their clients in the area of sustainable investing, obviously there's a big question around the risk to the business in introducing a solution to their clients,' he says. 'That question of risk becomes greater, the greater the size of the organisation, because they're looking for consistency across their advisers.' Gavin also introduces Worthstone's portfolio impact reporting. Available to Worthstone subscribers, the tool provides advisers with 'impact metrics' for their chosen selection of funds and generates bespoke impact reports for clients.

In this episode of the Advice Show podcast, deputy online editor Laura Purkess outlines some of the biggest announcements in this week's Budget and speaks to four industry experts to hear their views on what was – or what was not – revealed.

In this edition of The Advice Show, Citywire New Model Adviser senior reporter James Fitzgerald talks to Openmoney's product manager, Alex Bodek, about why he started his career in financial planning, and how the expansion of digital advice offerings in the UK is helping to narrow the advice gap.

In this edition of The Advice Show podcast, Citywire New Model Adviser senior reporter James Fitzgerald speaks with the CEO of advice network Tenet, Mark Scanlon, about how consolidation is a necessary evil, and how the government and regulator need to do more to educate kids about finance.

Citywire Selector's Margaryta Kirakosian joins us to discuss what is happening in Europe when it comes to ESG regulation, and why this matters for UK investors. We also discuss social impact investing and the recent German election.

In this episode of the Advice Show podcast, reporter Laura Purkess speaks to Tom Selby, senior analyst at AJ Bell, about recent tax and policy changes including the increase to the national insurance rate, the suspension of the triple-lock and the new social care cost cap, and look at what the Autumn Budget could have in store.

In this edition of The Advice Show podcast, Citywire New Model Adviser reporter James Fitzgerald speaks with Pimfa's director of government relations and policy, Tim Fassam, about the FCA's latest row back on its Financial Services Compensation Scheme (FSCS) levy reduction target and why the regulator needs to come up with a more ambitious solution.

In this episode of the Advice Show podcast, reporter Laura Purkess speaks to Charlotte Wood, director of Rosewood Financial Planning, about her work to help make the financial planning profession more inclusive for women. From launching a Facebook Group and growing it to over 800 members, to planning an all-female conference, Wood is on a mission to make her mark on the profession's relative lack of diversity. Earlier this year, she wrote a series of articles that re-ignited the discussion around sexism in financial advice, and in the wider working world. She talks about what drove her to write about her concerns, and how she felt about the response to them, as well as what she learned from the experience.

In this edition of The Advice Show, reporter James Fitzgerald speaks with Neil Moles, the CEO of national IFA Progeny, about why advisers need to come together and create a code of ethics and how that can stop the ‘claims culture' currently being seen in financial services.

PFS members have been up in arms ever since NMA revealed in April that the CII was planning to deregister the professional body for the third time. If subsumed by its parent body, the PFS would lose control over its own finances, operations and, most importantly, members. Former PFS presidents and senior society members have recently formed pressure groups in an effort to force the CII to change its approach, but although the PFS board voted down registration the other week, later events at its annual general meeting (AGM) highlighted just how much of a fight PFS members have on their hands. Walker tells Fitzgerald that the CII has not been transparent in its dealings with PFS members - especially in regard to deregistration - and claims that the CII's CEO's behavior at its AGM last week showed that she was not listening to the concerns of members. He adds that if the CII won't take heed of IFA members' concerns, or at least answer their questions truthfully, then it is time to break the PFS away from its parent body and start afresh. That way, he says, PFS members will be the masters of their own destiny and not have to deal with, what members claim, is a society that has treated the PFS like a cash cow for far too long.

We were lucky enough to receive some pearls of wisdom from experienced planners recently. ‘Understand marketing. Most people forget about it,' said Craig Palfrey, managing partner of Cardiff IFA Penguin Wealth Planners. ‘If you can't get people to sit in front of you, there is no point being in the game.' In this episode of the Advice Show podcast, reporter Laura Purkess tries to do just that. In conversation with Dan Graham, head of community experience and marketing at NextGen Planners, Laura asks Dan what kinds of content you should make to grow your audience, and, crucially, how often you should post it. Dan also reveals the very first things you should do to start marketing your business, three key things every financial planning firm needs on its website (yes, you need a website!) and what you can do to appear at the top of Google's search results without paying for adverts.

Finding a solution for clients is not just about picking an investment strategy based on the assets they have. More and more advisers are looking to segment client bases differently to ensure they have the best solution for each client. Gillian Hepburn, UK intermediary solutions director at Schroders, joins us to discuss how advisers can serve divorced and widowed women.

In this edition of The Advice Show, NMA reporter James Fitzgerald speaks with Foster Denovo's head of investment research, Declan McAndrew, about why advisers need to broach ESG considerations with clients first before being pushed into action. In recent weeks, some IFAs have taken to social media to say that as their clients have never asked them about sustainable investing or ESG considerations, then there is no need for them to bring it up. Indeed, there is no regulatory framework forcing IFAs to ask clients about their sustainable goals, but McAndrew tells Fitzgerald that if advisers just ask the right questions, then they can open up a whole new stream of investment options, and indeed revenue, for themselves and their clients. He adds that older clients often aren't fussed about ESG investing, but as their grandchildren and children become more concerned about the environment, then the older demographic will be keener to speak with their IFA about sustainable investing options.

Citywire Americas editor Atholl Simpson dialed in from the other side of the pond to talk through the region's success stories with New Model Adviser editor Will Robins. Latin America's financial sector might be a well-trodden area for global investors, but a tech start-up scene is making waves in a region so reliant on exports. Whether fintech or e-commerce, from Brazil to Colombia, investors looking for the next Amazon (not the forest) could do worse than look at Latin America.

When Olympic rower Alex Partridge left the sport he had spent nearly a decade and a half devoted to, he soon became unstuck. A breakdown beckoned, and he realised he needed to change something to get his life back on track. That change turned out to be people. Partridge realised he missed being part of a team, missed helping others, and missed the thrill of achieving something as a unit. A couple of roles in consulting and fund management later, and he has now found a niche in a technology company backed by the Joseph Rowntree Foundation and Big Society Capital: Wagestream. Wagestream's mission is simple: give staff power over their pay by giving them access to what they earn, as they earn it. No more loan sharks. No more credit card debt. No more living paypacket to paypacket. In this first episode of Nice City, a new Citywire New Model Adviser podcast series hosted by Ollie Smith and Amelia Garland, they ask Partridge about his mental health journey, his new team, and why it is that people struggle with money.

In this edition of The Advice Show podcast, NMA reporter James Fitzgerald speaks with director of content at NextGen planners and former Personal Finance Society (PFS) president Adam Owen about exam problems and student success stories during the pandemic. Owen tells Fitzgerald the CII was ‘brave' to bring in remote exams so quickly after lockdown, but after continual issues over the last 14 months, the body needs to listen to student feedback instead of pretending the technical problems they have faced are just a flash in the pan. He adds that members should expect their professional body to run exams properly, and that if the CII doesn't fix its issues, students may be dissuaded from sitting them in the future.

Octopus Group bought financial coaching business Hatch last month, rebranding it to Octopus Moneycoach with a pledge to invest £10m to help it achieve scale. The coaching service partners with employers to offer financial coaching to staff for £250 per year, but newly-appointed CEO Adam Price - formerly chair and founder of advice directory Vouchedfor - says this can be paid through salary sacrifice, taking the real cost to roughly £144. Staff can also choose to upgrade to a full financial planning service, which Hatch provides through partnerships with established advice firms. Octopus’s investment in the business will, he says, help scale the business and increase the number of financial coaches from 30 to 200 over the next two years. He also explains to Laura Purkess Price that the business aspires to ‘transform a million lives’, amid FCA estimates that 18 million people in the UK would benefit from affordable financial advice.

When Beth Yates was 13, she was taken to hospital with extreme tiredness and a ‘paralysing’ pain in her arms and legs. She was diagnosed with myalgic encephalomyelitis, which is also known as chronic fatigue syndrome. In this episode of The Balance, reporter Laura Purkess speaks to Yates, who now works in the personal wealth support team at Schroders Personal Wealth, about how she manages to work in financial planning with a debilitating condition. Yates has a had a successful career in financial services, working at Lloyds Banking Group before joining SPW, but her life has involved constant comrpomise. She had always wanted to study at Oxford University, but with her diagnosis came the knowledge that there neither a cure or treatment for her condition. Her future looked very uncertain. After spending several years bed- and wheelchair-bound with limited independence, Yates says she eventually got ‘fed up’ and, through a lot of determination and ‘fighting constantly’, started to learn how to get on with life while managing the illness. She is now studying for her diploma in financial planning alongside her work, an endeavour SPW is supporting. If you have a story to tell for The Balance contact lpurkess@citywire.co.uk

In this edition of The Advice Podcast, NMA reporter James Fitzgerald speaks with the managing director of Manchester-based advice firm Wetherall’s Financial Planning, James Wetherall. Wetherall talks about his new guide which provides tips to help advice firm principles fine, hire and train graduate financial planners. The guide, which contains articles and contributions from Zero Support’s Phil Young, and Sandringham CEO Tim Sargisson, among others, details why hiring young people is key to helping narrow the advice gap, and how principals can benefit from injecting young blood into their firms.

For this edition of Advice Around the World, we discuss the importance of financial literacy in India, and how planners can use their online presence to make a difference to a mass audience. Preeti Zende is one of India’s leading financial planners. For starters, she offers a fee-based and client centric advice service in a market that is largely propped up by advisers earning commission through investment sales. Besides this, she has developed an impressive following on the popular question and answer website Quora, amassing over 5.5 million page views in the process. This is a staggering achievement, so we ask the founder of Apana Dhan Financial Services how she has built this online presence, and why she was inspired to do it. Zende explains that with no social security or safety net for individuals in India, the need for proper financial assistance is paramount. Bad decisions within such an environment can be catastrophic. Zende gives us insights into how she is breaking this barrier down and communicating financial themes and information in terms that people can actually understand.

In this episode of The Advice Podcast, NMA reporter James Fitzgerald speaks to the chief executive of consolidator Truinvest, Mark Smith, about how his business not only survived but thrived during last year’s multiple lockdowns. Smith makes clear that consolidators who only buy firms to increase their AUM, and who do not take into account their new clients’ needs, are at risk of failing in the long term. This, he says, is because if AUM is all a consolidator is after, and if client service levels drop post-acqusition, then acquired advisers and clients will, more often than not, walk out the door with their assets in tow.

Welcome to the Anthropocene: the epoch of the Earth's geological history defined by the impact of humanity. The UK government is is talking up its eco credentials now, but this week's guest from fund management, Bryn Jones, recounts meetings in Westminster where the very idea of a green bond was roundly dismissed. The Rathbone Ethical Bond Fund manager meets futurist Mark Stevenson and New Model Adviser editor Will Robins to discuss how fixed-income investors can be an effective force for change.