PB Week: Elliot Lane describes his last seven days in broking

Broadcast

After this bombshell, I threw myself into the task of editing two hours worth of podcast material on treating customers fairly. The CII has asked compliance guru Branko Bjelobaba to become the broker’s champion on explaining in ‘human speak’, as politicos like to call it, the reams of Financial Services Authority rules surrounding this segment of principle-based regulation.

Branko is a natural broadcaster, with an easy Radio 4 style, but as he explained how many smaller practitioners were failing to grasp the most simple filing procedures and wrestling with technological obstacles, I began to wonder whether the regional broker would even know how to download the podcast to ever hear his pearls of wisdom! At the races Some PB readers/blog-lovers may have seen Branko and our very own Peter Knowles at this week’s CII/Biba Haydock event. No gee-gees, just lots of "Q&A" was the message passed back. Not many people in the industry know that Peter Knowles is an amateur dressage and eventer taking part in various equestrian pursuits. "I have to admit I was staring out of the window looking at the fences and thinking I would love a chance of jumping that one," said the budding Harvey Smith.

Talent

What was obvious from the Haydock event is the number of smaller brokers determined to achieve Chartered firm status which is encouraging but we are aware that some need a helping hand. As always the issue of Talent was raised and Alec Finch made a call to arms among the broker fraternity to start to actively get involved in the initiative.

Giant statue

On the subject of brokers, it was good see the ‘new breed of consultant’ at Lorega’s 25 year party at the Gherkin this week. No-one retires anymore, they just consult. I was told by an ex-Lorega employee that when the company name was first mooted, the trademark had to be checked. A small island exists called Lorega in the Philippines (don’t believe me, google it) and the inhabitants are proud to be called Loregans. Lorega chairman Malcolm Harvey I understand had to buy the islanders silence, but visitors to the island are greeted by a giant statue of Colossus proportions with a debonair character with one hand firmly tucked in his suit jacket pocket. Eat your heart out Joe Plumeri!

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