We’ve written many times over the past few months about the demise of Britain’s most famous active fund manager, Neil Woodford.
But what are the implications for financial advisers? How can we help prevent similar episodes in the future.
TEBI is pleased to be supporting two one-day workshops in December which will address the issues surrounding Woodford and, in particular, funds investing in illiquid assets.
The first is in Bristol on Wednesday 4th December. The second is in London the following day, Thursday 5th. The events are being organised by the Financial Suitability Forum.
In the words of its convenor Paul Resnik, the FSF is “a gathering place for members of the financial services community who want to build advice businesses, provide services, and offer investments and other financial products around a suitability standard”.
The workshop will equip advisers with the knowledge they need to recognise, analyse and advise on illiquid assets.
Announcing the workshops, Paul Resnik said: “I believe the Woodford scandal is a seismic event, that has shifted the ground beneath our feet forever.
“’Chasing alpha’ with a portion of a portfolio is now in doubt as a strategy. Because chasing alpha can lead you down the dead-end alleyway of illiquidity.
“Illiquidity is one of the yins to the yang of above-market returns. Funds frozen, or lost, give us a new focus on this issue, which is being overlooked in the current hunt for returns.
“(A financial adviser) can still advise around illiquid assets. But you need to know how their suitability aligns with the needs, capacities and circumstances of the client.”
Tickets are priced at £75 each and you can book your place via the FSF website. Attendees will qualify for five hours of CPD points.
I’m going to be there myself, and I hope you will want to join us.
Remember, the Woodford saga has seriously dented the public’s trust in financial advice and the wider investment industry. Help us to start restoring that trust — and prevent similar events occurring in the future.
Related posts:
The Woodford crisis shows there has to be a better way
A landmark day for British fund management
What does the Woodford Crisis mean for liquidity regulations?
What Woodford teaches us about illiquid assets
Woodford shows we need more journalism like this
What Neil Woodford and Arsenal FC have in common
Robin is a journalist and campaigner for positive change in global investing. He runs Regis Media, a niche provider of content marketing for financial advice firms with an evidence-based investment philosophy. He also works as a consultant to other disruptive firms in the investing sector.
