Cricket commentary box legend Henry Blofeld OBE shared stories from his 47 years as a test match special commentator at the event, held on 16 November 2017 at Hilton Bournemouth Hotel

View the photos from the dinner here.

Paul Jackson and Steve Lennon spoke on why capitalism might be in for a bit of adjustment on the 9 November CPD event in Exeter and gave excellent speeches.

Following Carney's suggestion that capitalism may lead to instability due to wage inequality and Adair Turner's earlier analysis that competitive capitalism can drive the market in an 'unstable condition', Paul Jackson spoke clearly about the signs that there were risks in the market, and Steve Lennon from Parmenion worked through some solutions that asset managers might employ now.

Paul Jackson's slides are here.

Where both speakers provided valuable research and spoke effortlessly and well, they stopped short of offered specific suggestions as to which sectors might perform better than others during an extended period of no real growth in developed markets, and we'll return to this topic in later CPD events.

Former Wales international rugby player Richard Parks was guest speaker at the event, held on 2 November 2017 at Cardiff Castle

View the photos from the dinner here.

Guests at the event contributed over £1,200 excluding gift aid to the Social Mobility Foundation

View the photos from the ceremony here.

After-dinner speaker Paul Sinha, comedian and quizmaster on ITV's The Chase, kept an audience of over 65 entertained at the event, held on 12 October 2017 at The Spa Hotel, Tunbridge Wells

View the photos from the dinner here.

Graham Gooch OBE DL, former English cricket captain, kept an audience of 85 entertained at the event, held on 19 October 2017 at the County Hotel, Chelmsford

View the photos from the dinner here.

String quartet Arcosanti Music, and a close-up magician kept an audience of 80 entertained at the event, held on 19 October 2017 at Bristol Museum & Art Gallery

View the photos from the dinner here.

The first LJMU Careers in Finance took place on Wednesday 25th October, with a panel of speakers taking to the stage in the large lecture theatre in the Redmond Building.

Liverpool John Moores University is one of the largest, most dynamic and forward-thinking universities in the UK, with origins dating from 1823.

There was a great turnout with over 80 students discovering a variety of careers paths ranging from Investment Management to Insurance.

It was inspiring to see some LJMU alumni on the panel, including Tom Calland & Jonathan Murphy from Fraser Wealth Management.

The CISI was pleased to join with the Chartered Insurance Institute (CII) on the day and afterwards there was a lively networking event, in which the students could engage with practitioners in an informal setting.

Thank you to Senior Lecturer Karl Roberts & Anne Chisholm from the CISI for organising and to all the other speakers for their time & effort.

Today we met Trevor Neil from Beta Group who explained the blockchain mechanism, the global appeal of Bitcoin and what this might mean for those in financial services.

Trevor is Europe’s leading technical analysis expert & has been a trader for over 30 years.

Certainly not for the feint hearted & with a volatility rating of 100, Bitcoin has increased nearly 8x in the last year. It sits outside the realm of government intervention and is not subject to inflation. This new asset class is now capturing the interest of major investors as its shakes off its ‘bad boy’ reputation.

The CISI was proud to have a special guest appearance from Leon Rossiter, Economy Manager from Colu Group, the brains behind the Liverpool Pound; the blockchain based digital wallet that inspires local economies to be more prosperous. Leon brought the topic to life talking about the rollercoaster ride that is the start-up life.

You don't need me to tell you that 2017 is not over yet. No doubt there are many diary notes and CPD log reminders that will do that for you, but as we approach November, and with December traditionally not being the most active of business months, how has 2017 been for you?

I think it's fair to suggest that 2017 has not been a 'standard' year, if there ever was such a thing. The bombardment of all things 'Brexit' has been on most clients’ minds, unwisely called General Elections are behind us, MiFID 2, GDPR are on the way, and from a global perspective growth has been firm, although set against various heating geopolitical tensions...and these have not gone away, only deepened and widened (the US / Iran being a good example).

And don't forget that the Budget that was no longer going to happen as a Statement in the autumn is now set for 22 November 2017. I'm pleased that's clear! 

Indexes have largely risen, but so has inflation and I think many are agreed that the Bank of England base rate is too low. Is 2017 the turn point for a return to all things 5% of yesteryear? Base rates, inflation, average dividend yields? In my opinion, not for a long time, but change is in the air and it started this year. Change is good, and it's about the only thing that is guaranteed in the money world in which we thrive. 

So, how has 2017 been for you, and with it nearly over and the ability to influence it waning (although November is traditionally our best trading month of the year), what does 2018 hold for you? More of the same, or something spookily exciting?

Now's the time to take stock and to look forward. Happy Halloween! 

No advice is provided during this blog.

Keith Churchouse CFP Chartered FSCI

Vice-President CISI Southern Committee

This week we saw students from a range of schools across Liverpool meet with their mentors for the first time.

The students are in year 13 and currently working on the Extended Project as part of their CISI Level 3 CertISI qualification.

The qualification provides candidates with an introduction to the financial services sector with a focus on investments. It is the equivalent of an A/S Level and supports progression to a range of finance and business related higher education courses.

The 21 students will complete a 4000 word report, complemented by a 500 word personal evaluation. The challenging titles include ‘Is the UK taxation system fair?’ and ‘Is it too difficult for young people to get onto the property ladder?’

The mentors will regularly meet with the students over the academic year and offer ‘real life’ guidance and support. The project is designed to expand the student’s skills in planning, analysis, criticism and self-reflection. The mentors are all established professionals, working in a variety of financial roles across the city.

Mentor Jaclyn King-Gibson, Investment Manager at Rathbones (pictured) imparts her wisdom on a young learner.

We hope all the students and mentors have a very rewarding experience and we wish all the students the very best for the academic year.

It’s a busy time for the Education Committee, as students across the region head back to school, college and university.

On the first day of their new term, the Masters students learnt how the CISI can support them into their studies and beyond. 

The session also involved practitioner support from Regional Education Secretary Rob Shutt and Committee Member Ryan Cruise, both from Investec, and a networking session afterwards.

On 19th of September a half-day event in Chester covered several interesting topics.

The event was well attended with over 40 members from both the CISI and the CII attending as part of the new Chartered Body Alliance.

The Chartered Body Alliance combines the Chartered Institute for Securities & Investment, the Chartered Insurance Institute and the Chartered Banker Institute.

By working together the alliance will continue to raise professionalism and trust across financial services by promoting high standards of knowledge, skill, integrity and ethical behaviour.

The event was opened by Harry Walker from Dimensional introducing the six principles of effective and persuasive communication.

Phil Robotham from Schroders discussed value investing  and how certain innate behavioural traits will influence both clients and their financial advisers decision-making.

Stephen English from Blankstone Sington presented on the key benefits of investing via an AIM Portfolio, and its uses in mitigating Inheritance Tax.

And finally, Duane Hasnip from GAM Star provided an overview of junior/hybrid debt, including why companies may choose to issue this type of debt and its characteristics.

Our first event was a great success and it gives us a real platform to build upon, particularly as we look to increase our presence in Chester and North Wales.

Nick Gibson and Jackie Lockie gave hugely interesting talks under this theme, on Conduct Risk, the CFP (TM) licensee Practice Standards in the light of recent Ombudsman cases, and raised a number of sparkling ideas about how to manage the interface between asset manager and planner for less compliance overhead. 

Nick Gibson's slides;
Jackie Lockie's slides

The result in the Mr. H case where she complained that the mortgage broker she was using to raise money should have advised her on alternatives to her investment strategy is here.

CISI School Registration Event: 14th September 2016

The Education Committee held an open evening in Rathbone Hall for Year 12 students in the Liverpool Area to find out more information about the CISI Introduction to Investment programme. 

Rob Shutt, our Education Secretary opened the event outlining our vision for the programme,followed by Anne Chisholm (Regional Education Development Liaison Executive) who discussed careers in Investment Management and the qualification in more detail.      

Paul Loughlin and Joel Carter, both from Rathbones, brought the qualification to life, with Paul talking about the industry’s passion for supporting young people and Joel talking about his experience as an apprentice.

We were delighted to welcome back Haris Ellahi, who completed the CISI: Introduction to Investments qualification in June this year, and goes on to start a Level 4 (foundation degree equivalent) Investment Analyst Apprenticeship at Mercers in October. We wish Haris all the best in the future.

Afterwards, there was a Q&A and networking session where parents and students could talk first hand to a range of people in the industry, with most of the North West investment firms represented.  We are pleased to report that student numbers have been strong and we have managed to recruit some very intelligent and driven young people into the programme.

1st September: Football

Our annual football tournament at Powerleague saw 10 teams battle it out for the highly coveted shield.  This year we introduced a charitable element to the event and the tournament helped to raise funds for Street League who use sports as a medium to engage with young people and support them in developing key skills so they can find employment.

Investec won the trophy for a record 3^rd time with captain Jon Walker finally getting his hands on the shield after creating the tournament 9 years ago.  

A fantastic £640 was raised through ticket sales.




8th September: Netball

Our third annual charity Netball event in aid of SMART (Steven McEvoy Always Remembered and Treasured) which benefits the Walton Neurological Centre was held at IM Marsh.  Eight teams competed for the coveted trophy and the bragging rights go to Blankstone Sington who were crowned the tournament champions.

Person of the Match went to Will Skrebels of Rathbones .

Former British ambassador to the United States Sir Christopher Meyer was guest speaker at the CISI Scotland annual dinner, held on 7 September 2017 at the Principal Edinburgh Hotel, Edinburgh

Read the full article in the online Review.

Years back when I did my many industry exams, some of the text books covers referred to ‘Personal Financial Planning’ and then the individual specialist topic, such as pensions, investment, protection and the like. I think that the key word that was overlooked in much of the text was the 'Personal' starting point, as the books tended to delve into the minutiae of product type and the 'tech spec' of all that might be required to pass the exam. 

The clear aim in these examples was to help our understanding of products to allow us to advise clients on what they should buy. And there's the rub! Selling a product and giving good financial advice may not naturally be the best of bed fellows. People do not usually want to be sold to, they want advice and help based on personal trust.

There was for many years a propensity for the financial profession to sell products, to the extent that some of the public thought that’s all we did. Sure, products are involved, even if it is reviewing existing plans to ensure they continue to meet clients’ needs, but the positive evolution of financial services has been dramatic over the last decade and many clients are reaping the benefits of change. 

The use of technologies for the delivery of information and access to fund values, even online financial advice, has seen many of the public being more engaged in most aspects of their money planning and long may this continue and grow. The understanding and good communication of attitude to and tolerance of investment risk has grown and the client relationship outcomes are far better than they were even five years ago. Great news for all as the delivery of informed financial outcomes advances apace. 

There are many other varied aspects to financial planning, such as business planning, and many financial planners have studied these at length. However, where directors and business managers are making decisions, these are still usually based on personal preferences, risk appetite, ethics of the business and their experience...all personal to them. 

Because we are all individuals with individual and unique requirements, no individual advice is provided during the course of this blog, but see your financial services professional soon to see what can be added to your arrangements, both now and into the future. 

Keith Churchouse CFP Chartered FSCI

Vice-President CISI Southern Committee

During the week of 10-14 July, Liverpool firms opened their doors to the future stars of Liverpool’s financial services sector, for the third annual work-experience and Investment Management insight week.

Firms welcomed the 16-18-year-old students from schools across the city for a three day work placement followed by a two day conference at the prestigious Rathbone Hall in the Port of Liverpool Building. Over 40 students spent two interactive days giving the students the opportunity to develop their practical skill set through interactive sessions such as; Presentation Skills, Speed Networking, Employability Skills & Ethics and Integrity. 

The aim of the week-long programme is to provide an insight into working in financial services and to encourage the next generation of finance professionals.

One of the first icebreaker challenges was ‘Who can build the biggest tower?’ using bamboo canes and elastic bands. Lots of the students hadn’t met before and this challenge was sure to get the students talking. The winner’s tower was over 9ft tall!

‘Top Trader’ run by BNY Mellon was a favourite amongst the students. It is a monopoly style stock exchange game which sees the students running around the room, buying and selling their funds.

One student said commented that "Top Trader was Top Notch".

The week will conclude with in the ‘Liver Bird’s Den’ - based on TV’s Dragons’ Den, students will have the opportunity to pitch their investment ideas to a panel of experts!

Thank you to all the practitioners and students who took part in the Insight Conference. We look forward to hosting it again next year!

CII: Inter-Institute Cup

On 5^th July, the Investec team won the CII organised ‘Inter-Institute Cup’!

As winners of the 2016 CISI football tournament, we sent Darren O'Reilly and his team over to Chester to represent the Institute (sort of like international duty) and they returned victorious.

Darren said it was good practice for the Investec team and an opportunity to shake off the dust ahead of the major CISI tournament in September.

CPD Event: Brexit 12 months on

A year on from the UK’s vote to leave the European Union, and we are still looking for greater clarity around what Brexit will look like. Professor Michael Dougan reviewed the events of the last 12 months and looked ahead to the challenges facing the UK economy. This is the second time Professor Dougan has spoken at a CPD event for the CISI, and is fast becoming a firm favourite.

New committee branch members and leavers

This month we sadly say goodbye to Victoria Walker, who has been a dedicated committee member since 2012. Her contribution has been nothing short of immense. Having taken on the role of Social Secretary, Victoria has organised many amazing social events and special annual dinners. She will be sorely missed and we wish Tory the very best in all her future endeavours.

The committee welcomes Caroline Eagles; Vice-President Compliance from Pershing and look forward to working with her in the future.