THIS IS A FINANCIAL PROMOTION
Serving the Teesside Business Community | 45
Leaders – the Active directors (left to right) Gary Lumby, Karl
Nendick, Glyn Pemberton, Paul Gibson and Karl Pemberton.
National
recognition
for Active
A
embraced the changes, adapted
their processes and endeavoured to
continually improve their knowledge
are providing a professional service that
clients deserve. Sounding familiar now,
I hope?
So fast forward to 2018, and the
introduction of MiFID II. It doesn’t
sound exciting, does it? Sounding
more like a NASA satellite than a piece
of regulation that is ultimately there
to make sure you are being looked
after properly, you should already have
noticed its changes from your adviser in
these last 12 months.
MiFID is the Markets in Financial
Instruments Directive and it has
been applicable across the European
Union since November 2007. It is a
cornerstone of the EU's regulation of
financial markets, seeking to improve
their competitiveness by creating a
single market for investment services
and activities and to ensure a high
degree of harmonised protection for
investors in financial instruments.
Enhancements introduced on
January 3, 2018 (MiFID II), include
greater protection for investors through
the introduction of new requirements
on product governance and
independent investment advice, the
extension of existing rules to structured
deposits, and the improvement of
requirements in several areas, including
on the responsibility of management
bodies, inducements, information
and reporting to clients, cross-selling,
remuneration of staff, and best possible
results for clients.
The key visible aspect here for you
(the client) relates to client reporting
and, in particular, the service you
receive and charges you pay.
Remember the paragraph earlier
about RDR and client agreed
remuneration?
Well, five years on, this should
ensure that those rules are being
adhered to you, and you are being
advised (or reminded) of what charges
you are paying.
For most clients, certainly Investment
and Retirement Planning clients, an
ongoing charge will apply for the
service being provided by your adviser.
In return for this fee, you should be
receiving an ‘ongoing service’ which
could (or should) include a review, often
on an annual or six monthly basis.
The results of this client review
are then formally communicated to
you, confirming your objectives, your
attitude to risk, the ongoing suitability
of your portfolio, and the charges being
applied.
In short, the amount of work your
financial adviser now has to do for you
on an ongoing basis has increased,
but it has increased ultimately to help
protect you.
Granted, much of this work goes on
behind the scenes, and that’s where
having the strength and experience
in depth here at Active has helped
tremendously when implementing the
changes when they arise.
Change is never an experience
anyone looks forward to, but we
know that it will always happen in our
industry.
That is why we have always tried
to embrace every change way before
its time, and well ahead of our peers.
This has allowed Active to thrive into
what you see today, and what you will
continue to see for many more years
to come.
We are passionate about educating
our clients about ‘why’ we have to
operate as we do, and what good
practice looks like. To us, it is just as
important as the financial planning
aspect of our work we do for you.
If you are currently paying for a
‘service’ already from your financial
adviser, but feel that you’re not
receiving what has been promised,
please do get in touch with us, where
one of our team will be more than
happy to explain more about the Active
way.
www.activefinancialplanners.co.uk
#TheClearAdvantage
ctive Chartered Financial Planners
has been named as one of the “Best
Financial Advisers To Work For” at the
2019 Professional Adviser Awards.
The Teesside financial firm has been
recognised nationally as one of 14 top
companies in the Professional Adviser’s third
annual Best Financial Advisers To Work For
survey.
The survey of UK financial advisers
determined which participants are the best
employers and, in total, the services and
products of more than 200 advisers and other
businesses were considered.
The financial industry accolade was
presented to Active Chartered Financial
Planners at a prestigious awards ceremony
at The Brewery in London as part of the 14th
2019 Professional Adviser Awards, which seek
to reward excellence both within the financial
advice community and among the broader
financial services sector.
Active Chartered Financial Planners is a team
of specialist independent financial advisers that
provides a full suite of holistic financial planning
services to private individuals, corporate
businesses and professional practices.
It has been a successful 12 months for the
firm, which was named North East Employer
of the Year at the 2018 Federation of Small
Businesses Awards in January and shortlisted
for six awards at the Yorkshire Financial Awards
in late 2018. In addition, three members of
its team were finalists in the 2018 Women in
Financial Advice Awards.
Managing director Karl Pemberton
said: “Last year’s awards success was a
tremendous boost for the team and recognition
for everyone’s hard work and commitment to
the business and our clients.
“This year looks set to continue our
achievements and we are delighted to be
recognised as one of the top financial adviser
employers in the country.”
Rachel McCulloch, executive support
manager at Active, said: “To compete against
companies from across the UK and be
acknowledged as one of the best nationally is
a fantastic achievement for the team at Active
and all our staff should be very proud.”
Professional adviser Julian Marr added: "Last
September, Professional Adviser once more
issued the call for adviser businesses in the
UK to showcase their knowledge, skills and
commitment to client care by entering our
2019 awards.
“The 14 firms that made the grade in PA's
third annual Best Financial Advisers To Work
For survey fully deserve their awards and many
congratulations to all this year's winners.”