2020 Vision when you need it 

Sunlight on the Presellis

The first day of the New Year, and whilst we are looking forwards to many good things, inevitably one takes the opportunity to reflect on the past.  In a couple of months, my own tenure with ValidPath will hit seventeen years.  I joined as Network Development Director, and very soon found myself responsible for pretty much everything as the original owners lost interest.  For the first few years of its life, ValidPath operated as 'cottage industry', but that gave us the chance to develop our proposition systematically, and think carefully about what mattered.  My own involvement commenced when a number of the grande fromages in this sector were getting themselves into difficulty, and subsequently vanishing in puffs of unrealised hype.

Subsequently, most of the competition has disappeared into the same void, or been swallowed up by the ever-voracious consolidators.  This is a sector where great care is needed, and the unholy thirst for turnover at all costs seems to be the shortest route to oblivion - an appetite which is the almost inevitable byproduct of a penally expensive system of regulation which takes as much as it thinks the market can sustain.

However, 'care' isn't the only quality you'd expect from a responsible management team, and so we have sought to develop and foster the right ethos and culture, one which sets the interests of our Members and their clients as the first priority.  We think that this focus on optimising client outcomes is one of the most significant contributions we can make, as a Network that seeks to frame the disciplines and standards inherent within the advice model.  As we move positively forwards Into 2020, we believe that the core components of our proposition should hold us all in good stead:

  • An unrelenting commitment to the disciplines underpinning independent financial advice means that the clients of our Members have the best possible chance of obtaining optimal financial outcomes;
  • The successful transition in early December to the UK's most robust and fully-functional practice-management infrastructure provides the best possible platform for all the tech development that today's financial planners depend upon;
  • Cashflow forecasting and a wide range of financial modelling tools as standard;
  • The UK's most powerful, whole-of-market research database, allowing IFAs to do their job;
  • A wide range of support services aimed at freeing up your time for client-facing activity;
  • An extremely low-cost and efficient Centralised Investment Proposition, now entering its ninth successful year of operation;
  • A distinctive ethos based upon risk-management;
  • Approachable, accessible management, keen to support and work collaboratively with our Members.
The image at the top of this blogpost shows sunlight bathing the Preselli hills, on a day of heavy cloud.  ValidPath may have begun its life in Wales, but now caters for independent financial advisers all over the UK, driven by the conviction that our proposition supplies the brightest hope for advisers who believe that these things are important.  Happy new year!

For ValidPath Members...

A few helpful hints as to how you might be building your advisory proposition in 2020.

Kevin Moss, 01/01/2020