Suitability letters, an empty office and a year older

Saturday, 20th June 2009 21:40 - by Resident IFA

No particular train of thought here today, more some ruminations over my week and my lot. My Co-Director (My friendly nickname for him: ‘His Lordship’) has been away sunning himself in Spain for the best part of two weeks now. I am expecting him back in-situ on Wednesday, but won’t see him until Thursday. I won’t deny I have been a little lonely, there being only two of us in the company and office... ‘Small, but perfectly formed’ being the oh-so cheesy phrase I seem to trot out regularly. Cabin fever aside, I do seem to get a little more done whilst in the office alone. Besides, it is a chance for me to listen to the radio station KISS to my heart’s content…and at my age! Talking of which, I have a birthday tomorrow, hence writing this tonight. More of that later… Back to my workload, I have given a fair bit of financial advice recently, now dealing with the mass of paperwork that is my penance for earning a few pounds and putting food on the table. The real chore, yet ultimately satisfying and very important, is the construction of the ‘Suitability letter' for the Client, detailing the advice given. These can stretch to many pages, one I finished on Friday being 19 pages long. Each is ultimately bespoke – as every situation and piece of advice is different. There are the odd bits of ‘cut-and-paste’, but all too few and far between! I am almost back up to speed with these and should be able to return to Client servicing and new business from mid-next week. That is the burden of not having administrative support. There are few IFA’s (Independent Financial Advisers) I know of that write their own Suitability letters, having backup to help in this and other tasks, usually by employing a ‘Para-planner’ – a qualified individual who does not want to see Clients face-to-face, or is working towards doing so. This takes me back to my birthday. I think it inevitable that we all undertake a little introspection when our birthday comes around. Is this where I envisioned myself being at this point in time? What do I want from, say, the next 5 years, both in business and personal terms? Do I want to be sat in an office for 10-12 hours every day…with no-one to take a bit of the strain? Now, don’t get me wrong, I’m not having a moan, just a ponderance of time gone by and time (hopefully) to come. I believe I live a pretty charmed life all-told…it simply needs refining and revamping a little. Hark at me, getting all philosophical in a Personal Finance Blog! Until next time…