With a mooted 30 million UK adults beyond the scope of full advice (consumers with less than £257 a month to save can’t be economically served by full advice) and only 18 months to go until final RDR implementation the industry got together to ask “ where on earth are we?”. After a spot of good old show and tell from the ABI, KPMG, the FSA and several providers, here’s the consensus…
Trends from Unique Mortgage Loss Mitigation Solutionstevecassia
This document outlines a proposal to improve mortgage loan performance and reduce foreclosures. It proposes inserting financial counseling from the National Foundation for Credit Counseling (NFCC) into the loss mitigation process using the OFS Process. This aims to help borrowers achieve financial stability so they are better able to sustain their home loans. Titanium Solutions would conduct outreach and administer the program. The proposal claims this approach could avoid millions in losses and generate high returns through improved participation and sustainable home retention.
This is the presentation given to the Centre for Research in Social Simulation (CRESS) at the University of Surrey which hosted a day of presentations on agent-based simulation models that have already led to or are close to leading to influencing decision makers in a range of application areas, including healthcare, consultancy and economics. The event builds on the previous meeting of the Simulation SIG that compared DES and SD, as well as a stream at the OR Society\'s 2010 Simulation Workshop, and a recent special issue of the Journal of Simulation.
Payment by results (PbR) is an outcomes-based commissioning model where providers are paid based on achieving agreed upon outcomes rather than just delivering services or outputs. PbR aims to incentivize providers to focus on what works by only paying for results like reduced reoffending or smoking cessation. While intended to improve value for money and outcomes for users, PbR also raises issues for voluntary organizations about defining and measuring results, having the capacity for PbR contracts, and managing cash flow and risk with payment contingent on outcomes. The evidence on PbR's effectiveness is limited and the debate around it is polarized.
The document describes three mortgage planning services: 1) The Personalized Mortgage Plan enables consumers to understand the total costs and benefits of different loan options to make the best financing decision; 2) The RateWatch Report provides ongoing monitoring of a mortgage's performance to determine if market changes warrant adjustments; 3) The Annual Equity Review takes an in-depth look at a mortgage's performance through assessing the homeowner's complete financial situation to optimize equity gains over time. These services empower homeowners to integrate their mortgage into their overall financial goals and plans.
The document discusses two loan guarantees between USAID and EcoBank in Ghana from 2003-2008 and 2005-2012. It finds that the guarantees helped EcoBank expand lending to new sectors and provide longer term loans, but that EcoBank's overall lending growth was driven more by its retail banking strategy than the guarantees. The guarantees had a modest demonstration effect on broader banking sector lending but did not significantly impact total SME lending growth in Ghana.
The document discusses two loan guarantees between USAID and EcoBank in Ghana from 2003 to 2008 and 2005 to 2012. It finds that the guarantees helped EcoBank expand lending to new sectors and industries, provide larger and longer-term loans, and increase lending to SMEs substantially. However, most of EcoBank's lending growth was due to its own strategy rather than the guarantees, which had a modest impact due to representing a small number of sectors. The guarantees gave EcoBank experience that informed but did not dramatically change its lending practices.
- EcoBank implemented two DCA loan guarantees with USAID to increase lending to small and medium enterprises (SMEs) in Ghana.
- EcoBank used the guarantees to gain experience lending to new industries and borrowers, and to provide larger, longer-term loans for capital expenditures.
- While EcoBank significantly increased its SME lending, most of the growth was part of its broader strategy and not directly attributable to the guarantees, which accounted for a small portion of the SME portfolio.
Trends from Unique Mortgage Loss Mitigation Solutionstevecassia
This document outlines a proposal to improve mortgage loan performance and reduce foreclosures. It proposes inserting financial counseling from the National Foundation for Credit Counseling (NFCC) into the loss mitigation process using the OFS Process. This aims to help borrowers achieve financial stability so they are better able to sustain their home loans. Titanium Solutions would conduct outreach and administer the program. The proposal claims this approach could avoid millions in losses and generate high returns through improved participation and sustainable home retention.
This is the presentation given to the Centre for Research in Social Simulation (CRESS) at the University of Surrey which hosted a day of presentations on agent-based simulation models that have already led to or are close to leading to influencing decision makers in a range of application areas, including healthcare, consultancy and economics. The event builds on the previous meeting of the Simulation SIG that compared DES and SD, as well as a stream at the OR Society\'s 2010 Simulation Workshop, and a recent special issue of the Journal of Simulation.
Payment by results (PbR) is an outcomes-based commissioning model where providers are paid based on achieving agreed upon outcomes rather than just delivering services or outputs. PbR aims to incentivize providers to focus on what works by only paying for results like reduced reoffending or smoking cessation. While intended to improve value for money and outcomes for users, PbR also raises issues for voluntary organizations about defining and measuring results, having the capacity for PbR contracts, and managing cash flow and risk with payment contingent on outcomes. The evidence on PbR's effectiveness is limited and the debate around it is polarized.
The document describes three mortgage planning services: 1) The Personalized Mortgage Plan enables consumers to understand the total costs and benefits of different loan options to make the best financing decision; 2) The RateWatch Report provides ongoing monitoring of a mortgage's performance to determine if market changes warrant adjustments; 3) The Annual Equity Review takes an in-depth look at a mortgage's performance through assessing the homeowner's complete financial situation to optimize equity gains over time. These services empower homeowners to integrate their mortgage into their overall financial goals and plans.
The document discusses two loan guarantees between USAID and EcoBank in Ghana from 2003-2008 and 2005-2012. It finds that the guarantees helped EcoBank expand lending to new sectors and provide longer term loans, but that EcoBank's overall lending growth was driven more by its retail banking strategy than the guarantees. The guarantees had a modest demonstration effect on broader banking sector lending but did not significantly impact total SME lending growth in Ghana.
The document discusses two loan guarantees between USAID and EcoBank in Ghana from 2003 to 2008 and 2005 to 2012. It finds that the guarantees helped EcoBank expand lending to new sectors and industries, provide larger and longer-term loans, and increase lending to SMEs substantially. However, most of EcoBank's lending growth was due to its own strategy rather than the guarantees, which had a modest impact due to representing a small number of sectors. The guarantees gave EcoBank experience that informed but did not dramatically change its lending practices.
- EcoBank implemented two DCA loan guarantees with USAID to increase lending to small and medium enterprises (SMEs) in Ghana.
- EcoBank used the guarantees to gain experience lending to new industries and borrowers, and to provide larger, longer-term loans for capital expenditures.
- While EcoBank significantly increased its SME lending, most of the growth was part of its broader strategy and not directly attributable to the guarantees, which accounted for a small portion of the SME portfolio.
Financial education fosters financial stability for individuals, families, and entire communities. The more people know about credit and banking services, the more likely they are to increase savings, buy homes, and improve their financial health and well being.
The AMBCC is offering the Money Smart curriculum with others community partners.
It is our goal to deliver financial education and appropriate financial services to everyone, including individuals who may not have a relationship with an insured depository institution
What is strategic visualization and how does it work? Get introduced to this new, convincing method that is transforming the way we understand business issues.
Make your business challenges and strategic initiatives transparent, understandable and accessible for all your key stakeholders.
Isolated expert knowledge is useless in an interconnected world. So how can we understand complexity and yet communicate with simplicity? Tell visual stories that engage your viewers!
Introduction to Guidelines on The Use of Consultants by Asian Development Ban...Joy Irman
The document provides guidelines for the use of consultants by the Asian Development Bank (ADB) and its borrowers. It defines the purpose as outlining ADB's policies and procedures for selecting, contracting, and monitoring consultants for loan and technical assistance projects. It describes the types of organizations that may be hired as consultants, including international/national consulting firms, UN agencies, universities, and individuals. It also covers general considerations for consultant selection including quality, cost-effectiveness, transparency, and anticorruption. It details when the guidelines are applicable and addresses issues like conflict of interest.
The document discusses Indiana's strategy for developing a statewide information sharing system called IDEx. It describes how the state took a business-first approach, assessing needs and gaps across agencies before designing and building out the technical solution. This included developing a strategic plan, governance policies, and proof-of-concept portal. The document emphasizes estimating return on investment from cost savings and cost avoidance across people, processes, and technology by moving to a standardized, enterprise-level system for over 350 types of data exchanges.
Energy efficiency finance_options_for_utilities_oct_2011-1HarcourtBrownEF
This document discusses options for utilities to finance energy efficiency programs and achieve ambitious efficiency goals. It notes that financing can leverage private capital, make efficiency investments cash flow positive for customers, and help utilities meet challenging cost-effectiveness tests. The document reviews objectives for successful finance programs like integration with other program elements, simplicity, fast origination, and attractive rates. It then provides case studies of various utility financing programs in California, Connecticut, Georgia, Hawaii, Kansas, Kentucky, Massachusetts, New Hampshire, Oregon, South Carolina, and Arizona.
The document discusses developing a framework of outcomes for youth services and young people. It aims to establish a common language around measuring the impact and social outcomes of youth programs. The framework wants to be accepted by commissioners, providers, and investors. It also wants to allow benchmarking and sharing of best practices. The outcomes framework clusters outcomes into seven key capabilities like personal development, social development, and educational development. It provides examples of how commissioners, providers, and investors could utilize the framework.
Social media & customer service cutting through the hypeMartin Hill-Wilson
The document discusses social customer service and provides guidance on implementing an effective social customer service strategy. It notes that customers now expect service online as they buy more online and engage socially. It outlines a new mindset of anticipation, immediacy, transparency, authenticity and engagement. It also discusses common mistakes to avoid, resource requirements, employee engagement, and key aspects like listening, escalation and collaboration. The overall message is that social customer service requires a new approach to effectively serve today's connected customers.
Protection Forum March2011 Executive SummaryIan McKenna
The Protection Forum meeting focused on several key issues:
1. Policy reinstatement practices, with advisers citing reasons reinstatement is preferable to rewriting and asking for fewer barriers. Providers agreed to draft a good practice document on reinstatement.
2. The impact of an ECJ gender ruling on portals providing less accurate quotes. Parties agreed to continue discussions.
3. Simplifying signature collection for e-applications, with FTRC tasked to identify a good practice model.
4. Assessing tele-interviewing approaches and commission flexibility to improve adviser experience.
Actions included drafting documents on reinstatement practices and signature collection processes to streamline activities for the benefit of
The memorandum summarizes discussions from a CPUC workshop about On Bill Repayment (OBR) programs in California. Key points made include:
1) There was lack of consistency around terminology, with OBR meaning different things to different parties.
2) The workshop aimed to explore how OBR could help California increase energy efficiency loan volumes and project comprehensiveness.
3) An OBR program without disconnection may increase loan volumes by making loans easy for contractors and consumers, but likely would not significantly impact affordability or capital attraction for lenders since it lacks disconnection as a repayment mechanism.
HHS IT Challenges and Requirements for 2013 by Frank Baitman, Deputy Assistant Secretary for Information Technology and Chief Information Officer, Department of Health and Human Services
Schizas & jarvis icsb presentation 18 jun stockholmeschizas
The document discusses small and medium-sized enterprises' (SMEs) use of professional advisers. It notes that accountants are often the primary advisers for SMEs. The document explores factors that influence SMEs' trust and confidence in advisers, such as rapport, competence, willingness to pay. It describes challenges in quantitatively measuring concepts like trust. The document outlines a dataset on SME adviser use and proposes testing theories on distinguishing trust, confidence and familiarity.
This document discusses on-bill repayment (OBR) programs for energy efficiency loans in California. It argues that OBR could increase energy efficiency project uptake by providing more convenient, low-cost financing. However, it notes that the term "OBR" was used to describe different concepts. It then analyzes how OBR programs with and without disconnection policies could impact loan volume, affordability, and ability to attract capital. While OBR may increase volume, it likely would not significantly impact affordability or capital attraction without a disconnection policy.
The document provides an initial findings report from research conducted in Bembèrèkè and Sinendé, Benin on mutuelles de santé, or community-based health insurance organizations. A team from the University of Michigan conducted over 90 interviews with mutuelle leaders, community members, and healthcare providers. Their research identified several areas needed for the mutuelles to become more professionalized and sustainable, including improving their value proposition, organizational structure, fee collection processes, and data management capabilities. Addressing these issues could help boost adoption rates of the mutuelles and position them for their new role in Benin's universal healthcare system.
This document outlines guiding principles and a self-evaluation tool for sustainable infrastructure projects created by the Global Energy Basel Foundation. It defines 10 key themes for sustainable projects: accountability, transparency, customer focus, results orientation, poverty responsiveness, power-balanced partnerships, shared incentives, sound financing mechanisms, proactive risk management, and resource protection. It then provides a brief overview of each theme. The document concludes with a sample self-evaluation chart to assess project performance across the 10 themes.
This document discusses resource allocation systems for housing-related support. It outlines the strategic context and choices local authorities have in developing such systems. Personalization aims to give clients choice and control over how their needs are met. Housing-related support has unique considerations compared to social care, including its non-statutory nature. Individualized budgets that are client-controlled are believed to be more effective and efficient, but this needs to be balanced with strategic housing functions. Any system must be transparent, needs-based, and flexible to change over time.
This document discusses patient involvement in health technology assessments. It defines involvement as engagement and participation by patients. Patients can provide unique experiential evidence about the benefits and effects of technologies. Effective involvement requires agreed principles, deliberative processes like citizens' juries and scenario workshops, and support for patients and organizations. The document explores why involvement has emerged, potential mechanisms for involvement at different stages, and challenges to consider.
This document provides an overview of a seminar aimed at developing an understanding of the public sector customer. It discusses defining the customer and different terminology used, principles of public sector service delivery, reorganizing services to meet customer needs through various models, challenges in implementing changes, and quality customer service principles. The overall goal is to place the customer at the center of public sector services.
The Colorado SharePoint User Group meets monthly in various Colorado locations to share tips and ideas about SharePoint products and technologies. The December meeting will be held on the 17th in Greenwood Village, featuring presentations on installing SharePoint 2010 on a laptop and using SharePoint 2010 for business intelligence, with refreshments sponsored by AmeriTeach.
Financial education fosters financial stability for individuals, families, and entire communities. The more people know about credit and banking services, the more likely they are to increase savings, buy homes, and improve their financial health and well being.
The AMBCC is offering the Money Smart curriculum with others community partners.
It is our goal to deliver financial education and appropriate financial services to everyone, including individuals who may not have a relationship with an insured depository institution
What is strategic visualization and how does it work? Get introduced to this new, convincing method that is transforming the way we understand business issues.
Make your business challenges and strategic initiatives transparent, understandable and accessible for all your key stakeholders.
Isolated expert knowledge is useless in an interconnected world. So how can we understand complexity and yet communicate with simplicity? Tell visual stories that engage your viewers!
Introduction to Guidelines on The Use of Consultants by Asian Development Ban...Joy Irman
The document provides guidelines for the use of consultants by the Asian Development Bank (ADB) and its borrowers. It defines the purpose as outlining ADB's policies and procedures for selecting, contracting, and monitoring consultants for loan and technical assistance projects. It describes the types of organizations that may be hired as consultants, including international/national consulting firms, UN agencies, universities, and individuals. It also covers general considerations for consultant selection including quality, cost-effectiveness, transparency, and anticorruption. It details when the guidelines are applicable and addresses issues like conflict of interest.
The document discusses Indiana's strategy for developing a statewide information sharing system called IDEx. It describes how the state took a business-first approach, assessing needs and gaps across agencies before designing and building out the technical solution. This included developing a strategic plan, governance policies, and proof-of-concept portal. The document emphasizes estimating return on investment from cost savings and cost avoidance across people, processes, and technology by moving to a standardized, enterprise-level system for over 350 types of data exchanges.
Energy efficiency finance_options_for_utilities_oct_2011-1HarcourtBrownEF
This document discusses options for utilities to finance energy efficiency programs and achieve ambitious efficiency goals. It notes that financing can leverage private capital, make efficiency investments cash flow positive for customers, and help utilities meet challenging cost-effectiveness tests. The document reviews objectives for successful finance programs like integration with other program elements, simplicity, fast origination, and attractive rates. It then provides case studies of various utility financing programs in California, Connecticut, Georgia, Hawaii, Kansas, Kentucky, Massachusetts, New Hampshire, Oregon, South Carolina, and Arizona.
The document discusses developing a framework of outcomes for youth services and young people. It aims to establish a common language around measuring the impact and social outcomes of youth programs. The framework wants to be accepted by commissioners, providers, and investors. It also wants to allow benchmarking and sharing of best practices. The outcomes framework clusters outcomes into seven key capabilities like personal development, social development, and educational development. It provides examples of how commissioners, providers, and investors could utilize the framework.
Social media & customer service cutting through the hypeMartin Hill-Wilson
The document discusses social customer service and provides guidance on implementing an effective social customer service strategy. It notes that customers now expect service online as they buy more online and engage socially. It outlines a new mindset of anticipation, immediacy, transparency, authenticity and engagement. It also discusses common mistakes to avoid, resource requirements, employee engagement, and key aspects like listening, escalation and collaboration. The overall message is that social customer service requires a new approach to effectively serve today's connected customers.
Protection Forum March2011 Executive SummaryIan McKenna
The Protection Forum meeting focused on several key issues:
1. Policy reinstatement practices, with advisers citing reasons reinstatement is preferable to rewriting and asking for fewer barriers. Providers agreed to draft a good practice document on reinstatement.
2. The impact of an ECJ gender ruling on portals providing less accurate quotes. Parties agreed to continue discussions.
3. Simplifying signature collection for e-applications, with FTRC tasked to identify a good practice model.
4. Assessing tele-interviewing approaches and commission flexibility to improve adviser experience.
Actions included drafting documents on reinstatement practices and signature collection processes to streamline activities for the benefit of
The memorandum summarizes discussions from a CPUC workshop about On Bill Repayment (OBR) programs in California. Key points made include:
1) There was lack of consistency around terminology, with OBR meaning different things to different parties.
2) The workshop aimed to explore how OBR could help California increase energy efficiency loan volumes and project comprehensiveness.
3) An OBR program without disconnection may increase loan volumes by making loans easy for contractors and consumers, but likely would not significantly impact affordability or capital attraction for lenders since it lacks disconnection as a repayment mechanism.
HHS IT Challenges and Requirements for 2013 by Frank Baitman, Deputy Assistant Secretary for Information Technology and Chief Information Officer, Department of Health and Human Services
Schizas & jarvis icsb presentation 18 jun stockholmeschizas
The document discusses small and medium-sized enterprises' (SMEs) use of professional advisers. It notes that accountants are often the primary advisers for SMEs. The document explores factors that influence SMEs' trust and confidence in advisers, such as rapport, competence, willingness to pay. It describes challenges in quantitatively measuring concepts like trust. The document outlines a dataset on SME adviser use and proposes testing theories on distinguishing trust, confidence and familiarity.
This document discusses on-bill repayment (OBR) programs for energy efficiency loans in California. It argues that OBR could increase energy efficiency project uptake by providing more convenient, low-cost financing. However, it notes that the term "OBR" was used to describe different concepts. It then analyzes how OBR programs with and without disconnection policies could impact loan volume, affordability, and ability to attract capital. While OBR may increase volume, it likely would not significantly impact affordability or capital attraction without a disconnection policy.
The document provides an initial findings report from research conducted in Bembèrèkè and Sinendé, Benin on mutuelles de santé, or community-based health insurance organizations. A team from the University of Michigan conducted over 90 interviews with mutuelle leaders, community members, and healthcare providers. Their research identified several areas needed for the mutuelles to become more professionalized and sustainable, including improving their value proposition, organizational structure, fee collection processes, and data management capabilities. Addressing these issues could help boost adoption rates of the mutuelles and position them for their new role in Benin's universal healthcare system.
This document outlines guiding principles and a self-evaluation tool for sustainable infrastructure projects created by the Global Energy Basel Foundation. It defines 10 key themes for sustainable projects: accountability, transparency, customer focus, results orientation, poverty responsiveness, power-balanced partnerships, shared incentives, sound financing mechanisms, proactive risk management, and resource protection. It then provides a brief overview of each theme. The document concludes with a sample self-evaluation chart to assess project performance across the 10 themes.
This document discusses resource allocation systems for housing-related support. It outlines the strategic context and choices local authorities have in developing such systems. Personalization aims to give clients choice and control over how their needs are met. Housing-related support has unique considerations compared to social care, including its non-statutory nature. Individualized budgets that are client-controlled are believed to be more effective and efficient, but this needs to be balanced with strategic housing functions. Any system must be transparent, needs-based, and flexible to change over time.
This document discusses patient involvement in health technology assessments. It defines involvement as engagement and participation by patients. Patients can provide unique experiential evidence about the benefits and effects of technologies. Effective involvement requires agreed principles, deliberative processes like citizens' juries and scenario workshops, and support for patients and organizations. The document explores why involvement has emerged, potential mechanisms for involvement at different stages, and challenges to consider.
This document provides an overview of a seminar aimed at developing an understanding of the public sector customer. It discusses defining the customer and different terminology used, principles of public sector service delivery, reorganizing services to meet customer needs through various models, challenges in implementing changes, and quality customer service principles. The overall goal is to place the customer at the center of public sector services.
The Colorado SharePoint User Group meets monthly in various Colorado locations to share tips and ideas about SharePoint products and technologies. The December meeting will be held on the 17th in Greenwood Village, featuring presentations on installing SharePoint 2010 on a laptop and using SharePoint 2010 for business intelligence, with refreshments sponsored by AmeriTeach.
This document profiles stakeholders involved in the education system and their perspectives on challenges with the school-to-work transition. It identifies issues such as students lacking financial literacy, real world skills, and resources for job searching. The stakeholders think schools need to better understand workplace skill needs and address diverse student populations. They feel realistic information about careers and the path to jobs needs to be conveyed to students. The stakeholders seem passionate about improving the transition and supporting all types of students.
Dick Gage Outdoors creates pencil sketches in the park, but warns that the images are copyrighted and any reproduction without permission is prohibited. While sketching, the artist encountered too many bugs and decided to leave the park for the day. The artist thanks Dick Gage for his work.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
When Hot Leads Go Cold: How To Avoid The 3 PitfallsErroin Martin
Slide presentation of how marketers and sales leaders can avoid having their hot leads go cold. 3 pitfalls you and your team can avoid to keep their team leads hot and ready to convert into an opportunity than into won business. Completed with a brief demonstration on how Conversica can revolutionize your approach to converting leads into opportunities.
Language translators convert programming source code into machine language understood by computer processors. The three major types are compilers, assemblers, and interpreters. Compilers translate high-level languages into machine code in one or more passes, assemblers assemble assembly language into machine code, and interpreters analyze and execute each line of source code as the program runs without pre-translation.
The workers at the factory ate an unhealthy breakfast of fatty bacon and potato pie. They worked long hours from 5am to 9pm with only brief eating breaks on broken wooden benches or standing up while eating stale rye bread. When eating, they had no utensils and ate with their bare hands, risking spreading germs. New workers would leave crumbs on the floor for hungry children to eat off the ground. The cruel conditions led to the factories eventually being shut down, and the orphans found better homes and meals.
The document discusses how to improve search experiences for users who are unsure of what they are searching for. It analyzes the four main components of search systems: indexing, query management, ranking results, and formatting results. While indexing and ranking are most important for generating good results, both are challenging. The system aims to build better metadata for indexing and find ways to rank results that support exploratory, unknown, and re-finding search types through strong keywording, filters, and fast processing.
Aviones auténticos se exhiben en museos para que el público pueda aprender sobre la historia de la aviación y la ingeniería aeronáutica. Estos aviones históricos van desde los primeros biplanos hasta aviones de la Segunda Guerra Mundial y más allá, mostrando el progreso tecnológico a lo largo de los años. Los museos aeronáuticos preservan estos aviones para las generaciones futuras.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The Retail Distribution Review (RDR) comes into effect on 31 December 2012 and will lead to significant changes in the financial advice industry. Key aims are to offer consumers fair and transparent fees, clarity on services received, and advice from highly qualified professionals. All advisers must be qualified to a higher minimum level and undergo continual professional development. The changes are intended to boost consumer confidence and professionalism in financial advice.
The growth of ‘DIY investors’: RDR changes pushing a move to self directionPhilip Brooks
It will soon be two years since the Retail Distribution Review (RDR) came into force and represented a major shake up for the retail investment market. Incorporating the latest Harris Interactive poll data, we assess the impact on the use of professional advice and the implications for the future.
The growth of 'DIY Investors': RDR changes pushing a move to self direction?Harris Interactive UK
It will soon be two years since the Retail Distribution Review (RDR) came into force in the UK and represented a major shake up for the retail investment market. Incorporating the latest Harris Interactive poll data, the latest edition of viewpoint assesses the RDR's impact on the use of professional advice and the implications for the future.
The Value of Management Consultancy in Relation to Client OrganisationsBradley Agnew
The value of management consultancy is subject to extensive debate and, based on current research, the value
added by consultants is often unclear as it is difficult to measure their impact. The consulting industry is vast
and complex, with limited barriers to entry and no single definition of what is and what is not management
consultancy. For the purpose of this study, management consultancy will be defined as:
The creation of value for organisations – through improved performance, achieved by providing objective advice and implementing business solutions.
The ultimate aim of this project is to assess the value of management consultancy to client organisations. The
value added by consultancy is widely disputed and can be attributed to a diverse range of factors. The aim of
this initiative has been:
- To clarify how added value is defined and measured, the ways in which consultants may add value
and to quantify the value consultants add to client organisations. - To explore factors which may be attributed to an organisation’s use of management consultants
and to investigate the barriers to achieving added value in relation to the client’s needs.
- To develop an action plan for increasing the value added by management consultancy in relation to client organisations at both a client and system level.
With the UK consulting industry valued at £9 billion, and the value added to client organisations estimated to be around £56 billion to UK clients in 2008, the issue of the value of management consultancy is a prominent
one which needs further clarification. This report will provide the answers to these key issues and set out a
clear action plan for increasing the value added by management consultants both to client organisations and
the wider economy.
Treating Customers Fairly is a Strategic MatterStephenRosling
This document discusses the importance of treating customers fairly in the financial services industry. It argues that fair treatment is a benefit, not a cost, for firms. The first section outlines what fair treatment means and regulatory actions being taken globally to enforce it. Subsequent sections discuss the costs of unfair treatment through fines and loss of trust. The document then describes the services offered by TCF Matters to help firms implement fair treatment practices through assessments, program design, delivery, and ongoing support. It argues that the benefits of fair treatment include reputation, trust, and profitability. In summary, this document makes the case that fair customer treatment is essential for financial firms from both regulatory and business perspectives.
Retail Distribution Review: Preparing Insurance IT for Compliance and Strateg...Cognizant
The Retail Distribution Review offers a significant compliance challenge for UK insurers and advisors. CIOs must prepare by ensuring they have the right enabling technologies to support changing distribution strategies.
These slides were presented during the webinar on "Managing Partnerships in Microinsurance" conducted by the Facility on 1 March 2012. The webinar highlighted the stages of partnership, key points and strategies that can be used per stage, success factors and pitfalls, as well as real cases in partnership management.
Advice Guidance Boundary Review Evidence Final Feb 24.pdfHenry Tapper
This document provides evidence from Ferret Information Systems in response to the FCA's Advice Guidance Boundary Review. It summarizes the key points made in the document, including that: 1) the review should consider sources of advice beyond regulated financial advice, as many seek non-regulated advice; 2) the advice gap is larger than implied since only 8% seek regulated advice; and 3) personalized advice is still possible without product recommendations by assessing different decumulation choices based on individual circumstances. The submission argues the review could better address advice needs for those on low incomes interacting with the benefits system.
The document discusses how Northwestern Mutual's mutual structure benefits its policyholders. As a mutual company, Northwestern Mutual has no shareholders and focuses solely on serving its policyholders. It can take a long-term approach to investing without worrying about short-term earnings expectations. Additionally, as a mutual company any profits are returned to policyholders in the form of dividends rather than going to shareholders. The mutual structure is said to provide policyholders with an "enormous mutual advantage" and allows Northwestern Mutual to prioritize customers over shareholders.
This document summarizes the findings of a survey of Canadian investors on fees, advisory services, and disclosure. Key findings include:
- Most investors rely on advisors at least somewhat and advised investors tend to have higher satisfaction with performance and investment options.
- While some investors raised concerns about conflicts of interest and fees, most advised investors gave their advisors high satisfaction ratings.
- Disclosure and reporting has improved according to many investors, though awareness of new requirements is still low.
- Knowledge of fees varies, with many only somewhat familiar, and awareness of trailing commissions is also moderate.
Stanlib Multi-Manager Mindset: Embracing the New Financial LandscapeSTANLIB
The financial advisory landscape has changed significantly over the past decade due to increased regulation. The implementation of the Retail Distribution Review and a "Twin Peaks" model of regulation aim to improve professionalism and investor outcomes. This changing landscape presents opportunities and challenges for financial advisors. While robo-advisors present competition, the need for financial advice is greater than ever due to challenges like increasing longevity, high debt levels, and lack of savings and financial literacy among the population. Financial advisors that focus on holistic planning and helping clients achieve life goals through appropriate investments will remain relevant.
Prudent Partners is creating a niche for itself in the financial planning field, Within 6 months of its launch; today it is serving 25+ clients across different strata of society.
The document summarizes key aspects of the Retail Distribution Review (RDR) in the UK financial services industry. It discusses the need for regulation due to past mis-selling issues that eroded consumer trust. Major changes coming into force in 2012 include separating advice charges from product charges and requiring advisers to have qualifications. This aims to improve standards, transparency around fees, and perceptions of adviser independence in order to rebuild trust in the industry. However, concerns remain that advice may become unaffordable for many consumers and a two-tiered system could emerge.
The Retail Distribution Review (RDR). Harris Interactive's viewpointPhilip Brooks
The document summarizes key aspects of the Retail Distribution Review (RDR) in the UK financial services industry. It discusses the need for regulation due to past mis-selling issues that eroded consumer trust. Major changes coming into force in 2012 include separating advice charges from product charges and requiring advisers to have qualifications. This aims to improve standards, transparency around fees and perceptions of independence, but may also reduce access to advice or lead some advisers to leave the market. Educating consumers on the changes will be important to rebuilding trust in the industry.
Northwestern Mutual has a mutual structure that allows it to focus solely on its customers rather than shareholders. As a mutual company, profits are returned to policyholders in the form of dividends rather than going to shareholders. This mutual structure provides advantages for policyholders like equitable treatment, improvements to existing policies at no additional cost, and a long-term investment approach. Northwestern Mutual's mutual structure and customer-focused values have enabled it to remain financially strong and earn recognition as one of the best life insurers in the country for over 150 years.
AgeWage response to DWP consultation on Trustee skills (3).pdfHenry Tapper
The document discusses several issues related to pension trustee skills, capability, and culture in the UK. It addresses questions about trustee knowledge standards, whether trustees currently meet expectations, barriers to improving capability, investing in a broad range of opportunities, consolidating schemes, registering trustees, accreditation requirements, defining professional trustees, investment decision support, the impact of legal advice on decisions, exercising fiduciary duties, seeking best returns, and balancing returns, costs and services. The responses indicate that while trustee standards are generally high, the proliferation of schemes limits their ability to improve member outcomes. Barriers include a lack of time and incentives that prioritize compliance over diversity of voices and investing more broadly.
Proper due diligence is vital if retail clients are to be given advice that is suitable. The UK regulator places primacy on outcomes that are client-centric as the determining factor to whether sufficient research and due diligence has been done. This raises important questions for both Advisory firms and Discretionary Investment/Fund Managers if they are to meet these standards and provide appropriate services to retail clients.
The UK regulator places primacy on outcomes that are client-centric as the determining factor to whether sufficient research and due diligence has been done.
Social Impact Measurement Among Canadian Impact InvestorsPurpose Capital
This document discusses social impact measurement among Canadian impact investors. It aims to determine investors' knowledge and use of social impact metrics in investment decisions. Key findings include that investors vary in their motivations from optimizing financial returns to optimizing social impact. Investors use metrics differently depending on the investment lifecycle stage, favoring qualitative data for due diligence and outcome metrics for monitoring. However, few have the ability to collect outcome data. The challenges of standardization and isolating a venture's impact are also discussed.
ERISA Fiduciary Issues: A Guide for AdvisorsBroadridge
The role, expectations and legal requirements for ERISA fiduciary advisors is changing. Plan sponsors are increasingly looking to retirement plan advisors for guidance. This brings potential business opportunities but also more regulatory scrutiny. This paper provides advisors with guidelines to understand the plan sponsor role as fiduciaries and the steps to take to avoid breaching their duties.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
The Rise of Generative AI in Finance: Reshaping the Industry with Synthetic DataChampak Jhagmag
In this presentation, we will explore the rise of generative AI in finance and its potential to reshape the industry. We will discuss how generative AI can be used to develop new products, combat fraud, and revolutionize risk management. Finally, we will address some of the ethical considerations and challenges associated with this powerful technology.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
3. No nearer a solution?
Advisers and providers have complained that a lack of guidance from the
FSA has held back attempts to develop simplified advice services.
The lack of input from the FSA was a ‘dereliction of duty’, said Skandia
chief executive Peter Mann.
There is widespread industry complaint that the lack of clarity means it is
near impossible to start developing a simplified advice process.
The ABI has developed a proposal for a technology-based simplified advice
service, which could serve the protection, ISA, annuity and group personal
pension needs of the masses.
Scottish Widows is one of four providers running an ABI simplified advice
pilot but a big barrier to simplified advice is the level four qualifications
requirement, which is making it an un-commercial venture.
So with 18 months and counting, how much closer
to a solution are we to a 30m (potential un-
advised) problem?
4. RDR
No turning back
“ After three and a half years of discussion and
“
consultation, we are finally nearing the end of the Retail
Distribution Review journey.
Following the publication of the advisers have until 31 December
2012 to implement these new rules in their businesses.
The new RDR rules have been developed by the FSA to
increase consumer confidence in financial advice by removing the
potential for commission bias and increasing the professionalism
of financial advisers.
5. RDR
But not, yet, quite hitting the mark
However, the new rules are widely
predicted to reduce the number of financial
advisers and increase the cost of advice.
Evidence of advisers shifting their
business models further up market, where
advice is valued and affordable, can
already be seen.
This will increase and prevent a large
number of consumers from accessing
advice.
6. Accessing advice
Consumer preference
Consumers prefer to access advice through a variety of channels rather
than relying solely on one source.
Half of respondents who had sought
financial advice used the internet.
Fifty-two percent used a financial
adviser, with an independent adviser
more popular than an adviser linked
to a product provider.
Consumers who sought professional
financial advice often supplemented
this with their own research -
consumers prefer to access
information from sources which they
believe are independent and
impartial, like media and internet
‘best-buy’ tables, rather than using
public sources like the Citizen’s
Advice Bureau.
Source: Q3 2009 ABI savings and protection survey
8. Cost of advice
By product
Given the comprehensive nature of full advice,
it is unsurprising that the time taken to deliver
“ The time taken to deliver advice does vary by
channel, with banks and building societies this is typically nearly eight hours.
typically taking less time to provide advice than This is therefore reflected in the cost.
“
independent financial advisers, primarily due to
the nature of their service. On average, full advice typically costs £670 in
total. Following the implementation of the RDR,
this cost is widely expected to increase.
“ The time taken also varies
depending on whether the client
is a new or an existing customer
“
of the firm and by the type of
product recommended.
Source: CRA calculations May 2010
12. Simplified advice
Consumer targets
The ABI has identified three groups of consumers who could
benefit from a simplified advice process:
1 2 3
Consumers who Consumers who are Consumers who are
recognise the need to already unable to access currently served by
save and invest after existing advice services. existing advice services,
using Money Made Clear, but who will be unable to
but require further afford or will be unwilling
advice to determine to pay for this following
which product meets their the introduction of the
needs. RDR.
13. Tenets of simplified advice
Central to offering simplified advice at a price which
more consumers can afford, is the process driven
nature of the service.
A simplified advice process is automated and IT
driven which the consumer can access via the
internet unaided, over the phone or face-to-face
where a facilitator guides the consumer through the
pre-determined questions.
The whole interaction should take no longer than
30-45 minutes, significantly less than 7 hours 40
minutes typically needed for full advice.
14. Simplified advice
Four barriers
FSA Judgment FOS Judgment QCF 4 Charging-based
uncertainty uncertainty Requirement remuneration
Barrier Detail
FSA Judgment uncertainty Uncertainty around how this will be judged, especially by FSA
supervisors – the industry requires FSA general guidance to provide
clarity.
FOS Judgment uncertainty Uncertainty around how the Financial Ombudsman Service will judge
any complaints – industry requires clarity that any complaints would be
judged based on the limitations as explained to the consumer.
QCF 4 adviser qualification requirement Current FSA proposals to require an individual facilitating the process to
hold a QCF 4 qualification. May be an inappropriately high qualification
level, as an individual facilitating a simplified advice process will be
restricted to guiding the consumer through the pre-determined process.
Charging-based remuneration for Current FSA proposals require simplified advice to operate an Adviser
simplified advice model Charging model. This may discourage many consumers in the target
audience and create consumer confusion.
15. Simplified advice
Overcoming barriers
FSA director of conduct policy Sheila Nicoll said that where
simplified advice is delivered via an automated service, QCF level
four may not be required:
When asked whether the FSA accepts that a
Last year, in CP09/18, we suggested that
simplified advice process will deliver good, but not
[QCF level four] standards should apply necessarily the best outcomes, Nicoll said
equally to those giving simplified advice.
The responses to this were divided, and we
can see that there might be an argument in
terms of proportionality. There is also a I have a lot of sympathy with that view, but
question of how the qualification we have to decide what is meant by ’good’
requirements might apply in a simplified – I have no particular objections to that
advice process that is fully automated. statement, however
17. So what next?
“ Although the advice landscape will undoubtedly
change in the run up to the introduction of the FSA’s new
RDR rules in 2012, consumer access to suitable types of
advice is an issue that is predicted to grow as commission
“
is replaced by transparent advice charges.
Danger of falling short Working closer & harder
As it stands, the FSA is in danger of It is therefore vital that the industry works
failing to fulfill one of their objectives for closely with the regulator and the
the RDR – enabling more consumers to Ombudsman Service to ensure
have their needs and wants addressed. consumers can access suitable,
affordable financial advice.
Source: UK Structured Products Association
18. So what next?
Views from the market
“ The better off will pay for advice but the rest
will need a value proposition. Cost reductions and “ 5-% are not willing to pay for advice. The 50%
that are most are only prepared to pay £50 or
tax incentives (unlikely!) will help. Key is less! Ongoing f2f is going to be seriously
“
consistency and greater integration across the challenges. How can we expect to deliver
“
industry and public sector anything more than remote / Ltd advice?.
Adam Phillips, Financial Services Adam Phillips, Financial Services
Consumer Panel
Consumer Panel
“ The simplified market is
more likely to provide the right “ There’s no doubt that the
economic wake-up call has opened
solutions. But not necessarily a window but how closer are we
the best for which you will
“ “
today to stepping through with
always need Face-to-face. workable solutions?.
Peter Jolly, Assistant Robert Kerr, Scottish
Director ABI widows
“ There is certainly a market.
We’ve got the name of that
solution – ‘Simplified Advice’ –
“
but we really need to get on with
what it looks like.
Fiona Fry, KPMG
19. So what next?
This is make or break
So we seem to be gravitating to an acceptance that consumers
may not get the exact advice they need from simplified advice but
would not suffer from being told to save more through an ISA.
‘We focus on perfect outcomes too much when it is not always
possible’ was one of the central themes of last Tuesday’s
conference, which has some interesting TCF implications
reconciling the two could be a challenge if not managed carefully!
Simplified advice, it seems, is a process, not a person. The role is
really just a facilitator.
So whether providers and advisers adopt the ABI’s decision tree
model en masse or go their own route remains to be seen.
All will be key in determining whether this helps achieve RDR aims
of increasing access to advice or just further taints the industry!