Phil Billingham on Compliance and the Future of Financial Advice – MPAF18

Compliance.

It’s a word that fills many of us with dread.

It’s a necessary component of the Financial Services Industry. But why do we feel the need to “platinum plate” compliance so it seems to stifle creativity and hinder business development?

My guest today has made a business out of helping Financial Advisory and Planning firms cope with compliance and regulatory change. And having worked in financial services all over the world he is well placed to speculate on the future of financial advice in the UK.

My Guest on Episode 18 of the Marketing Protection and Finance Podcast is Phil Billingham.

Phil Billingham on Compliance and the Future of Financial Advice

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Who is Phil Billingham?

Phil is a specialist in assisting Financial Advisory and Planning firms survive and thrive during periods of regulatory change.

He has been an active commentator, speaker, writer, trainer and consultant in this field since 1982.

During this time he has worked with organizations and regulators in the UK, USA, Ireland, Australia and South Africa. He is both a Certified and Chartered Financial Planner.

Recently accredited, along with colleagues, for a world record for visiting 18 countries in 24 hours, he raised £13,000 for charity.

Listen to his thoughts on how to make compliance easier so that you do what you need to do in order to focus on developing your business. Hear how he thinks financial advice might develop in the UK in future.

Phil’s links:

Phil’s Favourite Books:

Go it Alone by Geoff Burch

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Rhys Williams on Using Clear Language in Financial Services – MPAF17

Complex language. Jargon. Passive sentences.

Dull impenetrable language is often the consequence of the complex propositions we develop in the financial services industry.

When we live with it day-to-day we tend to think that everyone, including our clients and customers can understand, and indeed get excited about, what we write. The reality is that they neither understand it nor get excited by it.

My guest today works for a company that dedicated to clarity of communication. They specialise in words. They think words are an untapped opportunity for businesses.

My Guest on Episode 17 of the Marketing Protection and Finance Podcast is Rhys Williams.

MPAF17 - Rhys Williams

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I’ve wanted to get Rhys on the podcast since day one because I share his passion and that of his company, Quiet Room. And that is to communicate simply – with no jargon, officious language or passive sentences.

I’ve heard Quiet Room described as word geeks – but they are a communications consultant that focuses on clarity.

Rhys is Strategy Director. A little known fact about Rhys is that he has a platinum disc from a one minute flute solo he contributed to Morrisey’s “You Are The Quarry” album.

Listen to how you can introduce clarity into your communications. When you’re good at using words, you’re not just better at winning customers or closing deals. You’re better at explaining your ideas, sharing your enthusiasm, and getting stuff done.

Rhys’s links:

Rhys’s Favourite Books:

Made to Stick by Chip and Dan Heath.

 Thinking Fast and Slow by Daniel Kahneman.

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Paul Avis on Auto Enrolment for Group Income Protection – MPAF16

Pensions Auto Enrolment has been a great success.

Government publicity has created inertia with high sign up rates to schemes so far. It’s created opportunities for advisers across the industry.

My guest today argues that the Government should build upon the success of Pensions Auto Enrolment and introduce a similar Auto Enrolment scheme for Group Income Protection.

His views have sparked an intense debate between those who feel more compulsion is unnecessary and those who feel this would benefit employees, employers and the Government.

My Guest on Episode 16 of the Marketing Protection and Finance Podcast is Paul Avis.

MPAF16 - Paul Avis

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Paul is Marketing Director at Canada Life Group Insurance, and before that has had marketing roles at Legal and General, Unum and Aviva.

A keen sportsman, Paul notes his interests as Bath Rugby, Somerset Cricket, Swindon Town Football, Diving, and Skiing.

He also says he loves the Caribbean Island of St. Lucia and is about to obtain dual citizenship of the Caribbean by marriage.

Listen to how Auto Enrolment for Group Income Protection might work and how easy it would be to incorporate the choice into Pensions schemes.

Hear how such a development could help ease the burden on firms to comply with the Equality Act and give a business benefit such as help with occupational and statutory sick pay.

Paul’s links:

Paul’s Favourite Books:

Any Human Heart by William Boyd.

Straight from the Gut by Jack Welch.

Don’t miss an episode of the MPAF Podcast – subscribe now.

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Now it’s your turn:

If you enjoyed this episode – Paul Avis on Auto Enrolment for Group Income Protection – please leave a comment or a review on iTunes. And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.