By Mark Arthurs, Network Development Manager
“ValidPath and my fellow IFAs who belong to the network are committed to providing the best possible client outcomes by ensuring any recommendations are based on true independence and impartiality. Events such as the Local Member Events help us to share best practice ideas with those who share similar values and ethics. My thanks to all involved with the organisation. Great day.”
- Christopher Bearfoot, White Horse Financial Services
ValidPath’s community is rarely far from my mind. Sometimes, it’s because I’m chatting with an Independent Financial Adviser (IFA) who’s interested in joining the ValidPath Network. Other times, I’m helping an existing Member take full advantage of our network’s benefits.
I think the IFA community we’ve built at ValidPath is second to none. It’s my job to help our Members connect with their fellow IFAs and take full advantage of the opportunities that being part of our network offers. For our community to flourish, ValidPath Members need every chance to collaborate and share their tips and tricks for running a financial advice business.
So, how are we working to actively foster community within our IFA Network?
Let’s look at an example.
ValidPath Member Events
About eighteen months ago, I set up an IFA coffee morning in Cheltenham. The idea was to give ValidPath Members the chance to meet up face-to-face and chat in a relaxed space where they could discuss the various challenges they face. Discussion topics ranged from client management, FCA compliance and succession planning, to advice attracting local clients in their area.
Frankly, I had no idea whether the coffee morning was going to work. I couldn’t help but think back to the last time I’d hosted an event, when I was in my previous role at a different company.
It was 10:30 am. I was delivering a talk on multi-asset funds. Exciting, I know. As I looked out into the audience, something caught my eye. A man had fallen asleep in the front row.
I left that day asking myself why we had all met up at all. Then it hit me. There isn’t much value in running an event where people show up to listen to just one person. I needed to get them talking to each other.
That’s exactly what the Cheltenham coffee morning set out to do – and it was a roaring success. Who knows more about the problems that IFAs face than IFAs themselves? The attendees were keen to meet up again, so we decided to make these smaller face-to-face Local Member Events more frequent, providing our Members with more opportunities to meet up, build relationships and learn from one another.
Since then, I’ve had the privilege of running face-to-face ValidPath community events in cities across the UK, including Manchester, London, Edinburgh and Cardiff. Each of these get-togethers has received overwhelmingly positive feedback, and I’m proud that they have become such a successful addition to our network.
So what did I learn?
You Can’t Force Community
We would never force any of our Members to attend our Member Events. As in all aspects of our Network, we firmly believe that our Members’ independence is everything.
Despite being entirely optional, however, our face-to-face Member Events consistently enjoy full attendance. ValidPath IFAs genuinely engage with one another, taking the opportunity to ask questions and give advice, whether they’re just getting started in the world of financial advice or looking to retire.
The success of our Member Events is a testament to the community we’ve built – one where our Members are genuinely excited to help and learn from each other and benefit from sharing a Network with each other every day.
Learning from Your Peers
There is so much that IFAs can learn by connecting with other Members of their network face-to-face. The process of running an IFA firm can feel daunting, but when you learn from and support each other, it becomes much more manageable. We’re not just building a network, we’re fostering a supportive group of professionals dedicated to helping one another succeed.
I believe our community is one of the most compelling reasons for IFAs to join ValidPath today. Together, your peers can help you navigate the complexities of the financial landscape, ensuring that you feel empowered, connected and ready for the future.
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