Mr Dashfield discussed the importance of being in control in order for planners to get far more done within their own lives. The belief that, ‘I don’t have enough time’ is at the root of many challenges where time management is concerned.
He covered the need to prioritise and be far more effective through the power of focus. Attendees were asked when and how they worked best. Many discovered that they worked better when they weren’t under pressure.
In a powerful statement, Mr Dashfield said: “I passionately believe that we all have the ability to create what we want. The key is to live on purpose, stay focused and remember life is lived in the present moment.”
David Norman of TCF Investment then led an intense academic presentation on the need for due diligence when advising on passively managed investment products. The discussion of passive ETFs concentrated on liquidity, quality of collateral and counterparty risk, with ‘Ten Tips to Help You through the Index Funds Maze’ being distributed to each attendee.
David then focused on actively managed equity funds, providing a strong critique of the lack of transparency, hidden transaction costs and portfolio turnover. Survivorship bias was particularly alarming for most delegates. David rounded off with questions from delegates, who positively engaged with the discussion. He also presented useful guidelines on passive due diligence.
Branch Chairman Lance Baron CFPCM said: "Based on the feedback and the number of delegates requesting more information from both speakers, this meeting was a great way to start the new year.
"Any IFP member would be most welcome to join speakers Adam Young, Martin Vaughan CFPCM and myself in Tunbridge Wells on 10 May at 3pm. We’ll be looking at questions to ask a private banking partner, the value of cashflow forecasting and working effectively with Paraplanners."