Karrek Chartered Financial Planners

A Message from Lord Pickles and Lord Blunkett, followed by Karrek Chartered Financial Planners's best practice article

The ability to listen and learn from one another has always been vital in parliament, in business and in most aspects of daily life. But at this particular moment in time, as national and global events continue to reiterate, it is uncommonly crucial that we forge new channels of communication and reinforce existing ones. The following article from Karrek Chartered Financial Planners is an attempt to do just that. We would welcome your thoughts on this or any other Parliamentary Review article.

Blunkett signature Rt Hon The Lord David Blunkett
Pickles signature Rt Hon The Lord Eric Pickles

www.karrekfinancial.com

THE PARLIAMENTARY REVIEW
Highlighting best practice
THE PARLIAMENTARY REVIEW
Highlighting best practice
20 | KARREK CHARTERED FINANCIAL PLANNERS
Managing Director
AndrewTurner
Karrek Chartered Financial Planners provide “pensions,
investments and peace of mind” to both private and
corporate clients. Managing Director Andrew Turner says
the company delivers a tailored, comprehensive and personal
financial planning service across Cornwall and beyond. Andrew
says the expertise of Karrek’s team of professional, qualified
advisers allows them to provide ongoing support as clients’
needs change, giving them confidence and control.
We assist in financial planning for personal and corporate clients. From capital raising
and mortgages to investment and pension advice, expertise is available from our
experienced and highly qualified professional advisers. I am a chartered financial planner
and a Fellow of the Personal Finance Society and have attained a master’s in financial
planning and business management.
We believe that our credibility is enhanced through education and qualification. We are
proud to hold corporate chartered status and are keen to support initiatives which build
public trust and contribute to the development of the profession.
While we are based in the South West, with offices situated in Newquay, advice is
sought from all across the UK. Through the use of technology, we are able to offer face-
to-face advice and service our clients’ needs with no effect on our carbon footprint.
Making a difference
Often, we are approached with specific enquiries, such as mortgage, investment or
pension queries. While an in-depth understanding of the technical nature of each
of these subjects is of course important, it is equally important to be able to apply
this knowledge to help ensure clients achieve their goals and meet their objectives.
Spending time with clients, and learning about them, is therefore critical to enable our
knowledge and expertise to be used effectively.
We help provide advice for our clients, and those of other advisers, in specialist areas
such as defined benefit transfers. This high-level, technically challenging work extends
to all parts of our business, which includes advice on investing for income and growth,
inheritance tax planning solutions, mortgages, and protection. The societal value we
can provide from the successful outcomes we aim to generate is significant, whether
this be through facilitating the ability to retire or helping to put plans in place to enable
continued financial stability at times of illness or bereavement.
With over 150 years of collective experience in the field of financial guidance, we are
well placed to respond to the changing needs of personal and corporate clients. Life
journeys and cycles require constant monitoring of financial decisions. Legislation
continually alters, and advice needs to be appropriately informed to keep pace. All of
our staff are encouraged to expand their knowledge and capacity at every opportunity,
through formal qualifications and continued professional development, which improves
our ability to serve.
AT A GLANCE
KARREK CHARTERED FINANCIAL
PLANNERS
»Managing Director:
AndrewTurner
»Established in 2004
»Based in Newquay, Cornwall
»Services: Advice on
investments, pensions,
mortgages and protection for
personal and corporate clients
»No. of employees: 9
Karrek Chartered
Financial Planners
BEST PRACTICE SPONSOR 2020
THE PARLIAMENTARY REVIEW
Highlighting best practice
20 | KARREK CHARTERED FINANCIAL PLANNERS
Managing Director
AndrewTurner
Karrek Chartered Financial Planners provide “pensions,
investments and peace of mind” to both private and
corporate clients. Managing Director Andrew Turner says
the company delivers a tailored, comprehensive and personal
financial planning service across Cornwall and beyond. Andrew
says the expertise of Karrek’s team of professional, qualified
advisers allows them to provide ongoing support as clients’
needs change, giving them confidence and control.
We assist in financial planning for personal and corporate clients. From capital raising
and mortgages to investment and pension advice, expertise is available from our
experienced and highly qualified professional advisers. I am a chartered financial planner
and a Fellow of the Personal Finance Society and have attained a master’s in financial
planning and business management.
We believe that our credibility is enhanced through education and qualification. We are
proud to hold corporate chartered status and are keen to support initiatives which build
public trust and contribute to the development of the profession.
While we are based in the South West, with offices situated in Newquay, advice is
sought from all across the UK. Through the use of technology, we are able to offer face-
to-face advice and service our clients’ needs with no effect on our carbon footprint.
Making a difference
Often, we are approached with specific enquiries, such as mortgage, investment or
pension queries. While an in-depth understanding of the technical nature of each
of these subjects is of course important, it is equally important to be able to apply
this knowledge to help ensure clients achieve their goals and meet their objectives.
Spending time with clients, and learning about them, is therefore critical to enable our
knowledge and expertise to be used effectively.
We help provide advice for our clients, and those of other advisers, in specialist areas
such as defined benefit transfers. This high-level, technically challenging work extends
to all parts of our business, which includes advice on investing for income and growth,
inheritance tax planning solutions, mortgages, and protection. The societal value we
can provide from the successful outcomes we aim to generate is significant, whether
this be through facilitating the ability to retire or helping to put plans in place to enable
continued financial stability at times of illness or bereavement.
With over 150 years of collective experience in the field of financial guidance, we are
well placed to respond to the changing needs of personal and corporate clients. Life
journeys and cycles require constant monitoring of financial decisions. Legislation
continually alters, and advice needs to be appropriately informed to keep pace. All of
our staff are encouraged to expand their knowledge and capacity at every opportunity,
through formal qualifications and continued professional development, which improves
our ability to serve.
AT A GLANCE
KARREK CHARTERED FINANCIAL
PLANNERS
»Managing Director:
AndrewTurner
»Established in 2004
»Based in Newquay, Cornwall
»Services: Advice on
investments, pensions,
mortgages and protection for
personal and corporate clients
»No. of employees: 9
Karrek Chartered
Financial Planners
21KARREK CHARTERED FINANCIAL PLANNERS |
FINANCIAL SERVICES
Contributing to the profession
Effective learning takes place when a person
is actively involved with an experience.
Because of this, education and qualification
are actively encouraged within our business,
and the application of the resulting skills
drives suitable outcomes for clients.
We are motivated to improve, so that our
pleasure in achieving proficiency allows
clients to benefit from our research and
also learn effectively themselves by taking
part in the advice process we offer. This
approach exhibits our commitment to
people development and our desire to
support initiatives which build public trust
and contribute to the development of
theprofession.
Changing shapes
The financial services industry has altered
shape considerably over the last few
decades. With the implementation of the
Retail Distribution Review on 31 December
2012, financial service practices now offer
advice-based services, perhaps in contrast
to a more sales-oriented structure in years
gone by. Legislation continues to evolve,
with the regulator, the Financial Conduct
Authority, informing the landscape.
The opportunity to consider our work
as a profession has arguably been a
consequence of increased regulation.
Raised standards have improved outcomes
for clients, adding more adequate recourse
and redress and providing clients with
evidence that they can have confidence in
financial services when requesting advice.
As is their remit, regulation is regularly
reviewed by the FCA, with a recent
example being work concerning defined
benefit pension transfers. With each review
and change, an unintended consequence
is increased complexity for consumers and
difficulty for clients in understanding the
consequences of actions. This, in turn,
leads to increased demand for advice.
Running a financial advisory business
today requires adequate consideration
of costs, which are rising as a result of
more complicated rules and indemnity
issues for the industry as a whole. Such
complexity requires the very capacity
we strive to increase through academic
and professional endeavours. Such
endeavours are themselves costly, both in
time and educational resources.
As regulation continues to evolve and
alter the requirements of both advisers
and clients, costs are expected to rise.
To continue providing worthwhile,
professional and effective guidance, our
journey to professionalism will inevitably
need to accelerate. Remaining an effective,
profitable business will require thought
and planning so that adequate expertise is
maintained, and this will include education,
training and recruitment. The resulting
shape of clientele across the industry may
well alter further, with increasing focus
on individuals already possessing wealth
sufficient to afford to pay for advice.
Our experience is that clients require help
and guidance when things appear to
look gloomy, or when a particular event
provides uncertainty. Our service includes
ongoing reviews, and at these meetings,
topics which may impact on clients’
financial planning – such as Brexit,
legislative changes and many other issues
– are discussed. Alterations are then made
to strategies if and when required. This
provides peace of mind, which of course is
a likely objective of employing a financial
adviser. Reasoned, informed and technically
correct advice will be required to meet the
demand of clients now and in the future.
The training of financial advisers and staff
is, and will continue to be, a requirement
to ensure we are equipped and ready to
look after existing and future clients.
Technology is already an integral part of
our day-to-day operations. We anticipate
this investment will continue as the pace
of change and application increases.
We aim to increase our productivity and
efficiency through these technological
advances, and this will be important
in maintaining service levels at an
acceptable cost. Advisers and staff will
need to absorb knowledge of technology
alongside professional learning.
The advice of the future will undoubtedly
continue to evolve though legislation and
technological advancement. Financial
services is, after all, a people-based
profession, and striving to help our staff
and advisers to become as well educated
and capable as possible gives confidence
that our clients will receive advice that
can be trusted for many years to come.
Team Karrek
Reasoned,
informed and
technically
correct advice
will be
required to
meet the
demand of
clients now
and in the
future

www.karrekfinancial.com

This article was sponsored by Karrek Chartered Financial Planners. The Parliamentary Review is wholly funded by the representatives who write for it. The publication in which this article originally appeared contained the following foreword from Rt Hon Elizabeth Truss.

Rt Hon Elizabeth Truss's Foreword For The Parliamentary Review

By Rt Hon Elizabeth Truss

Even by the standards of the day –this has been one of the most exciting and unpredictable years in British politics.

The leadership election we’ve just seen marks a huge moment in our country’s history. This government is taking a decisive new direction, embracing the opportunities of Brexit and preparing our country to flourish outside the EU.

As international trade secretary, I’ll be driving forward work on the free trade agreements that are going to be a priority for the government. Free trade isn’t just an abstract concept bandied around by technocrats. It is crucial for a strong economy and for the ability of families to make ends meet. Free trade benefits people in every part of our country, as British firms export to new markets and people doing the weekly shop have access to a wider choice of goods at lower prices.

The essence of free trade is in the title: freedom. It’s about giving people the power to exchange their goods without heavy government taxation or interference. Commerce and free exchange are the engine room of prosperity and social mobility. I’m determined to tackle the forces who want to hold that back.

One of my priorities is agreeing an exciting new free trade deal with the US, building on the great relationship between our two countries and the Prime Minister and US President. But I’ll also be talking to other partners including New Zealand, Australia and fast-growing Asian markets.

And with the EU too, we want a friendly and constructive relationship, as constitutional equals, and as friends and partners in facing the challenges that lie ahead – a relationship based on a deep free trade agreement. Our country produces some of the world’s most successful exports, and the opportunity to bring these to the rest of the world should make us all excited about the future. It is this excitement, optimism and ambition which I believe will come to define this government.

For too long now, we have been told Britain isn’t big or important enough to survive outside the EU – that we have to accept a deal that reflects our reduced circumstances. I say that’s rubbish. With the right policies in place, we can be the most competitive, free-thinking, prosperous nation on Earth exporting to the world and leading in new developments like AI. To do that, we’ll give the brilliant next generation of entrepreneurs the tools they need to succeed. Since 2015, there has been a staggering 85 per cent rise in the number of businesses set up by 18 to 24 year olds – twice the level set up by the same age group in France and Germany. We’ll help them flourish by championing enterprise, cutting taxes and making regulation flexible and responsive to their needs.

As we do that, we’ll level up and unite all parts of the UK with great transport links, fibre broadband in every home and proper school funding, so everyone shares in our country’s success.

2019 has been the year of brewing economic and political revolution. 2020 will be the year when a revitalised Conservative government turbo charges the economy, boosts prospects for people across the country, and catapults Britain back to the forefront of the world stage.



Rt Hon Elizabeth Truss
Secretary of State for International Development