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Advising – the (other) beautiful game

7 Sep 11

Man U manager Sir Alex Ferguson is preparing for another season of managing a team and a business.

Man U manager Sir Alex Ferguson is preparing for another season of managing a team and a business.

It is fair to say that Sir Alex has kept his team’s supporters – let’s call them his clients – very happy indeed over the 25 years he has been in charge. But it hasn’t always been easy for him. He has had to overcome a number of challenges, and to reinvent his team several times. 

Looking back over my past 20 years in the European expatriate IFA “league”, I cannot help but see similarities between running an IFA firm and running a football club.

Our company – let’s call it our “team” – was formed in 2003, although its roots date back more than 15 years. And for us, as for Sir Alex, our long-term relationships with our clients is a key ingredient in our continued success. If you keep your supporters happy with regular contact and a transparent and consistent approach, they are unlikely to desert your club, even when times are challenging.

Also like Sir Alex, we are constantly developing and building our team, recruiting new players and giving them the support they need to succeed.

In our business, of course, we don’t have to deal with the likes of Jose Mourinho, Sky TV reporters and, normally, any off-pitch scandals.

Instead, our challenges tend to be regulatory in nature. And though we see robust regulation as a positive, the downside – as is typically the case for Sir Alex and those off-pitch scandals he has to deal with – is that it costs us time and money.

Finally, I should note that in spite of certain similarities Spectrum may have with Man U, there is one important difference between Sir Alex and me, and it is this: I personally have no interest in who wins the Premier League. My only concern is that my club, which is Crystal Palace,  survives in the Championship league!

Tags: Michael Lodhi | Spectrum IFA Group

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.