Andrew Goodwin

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Articles

Andrew Goodwin: Human connection is central to both personal and career success

Dec 11, 2024 | professionaladviser.com | Andrew Goodwin

My first book, The Happy Adviser, was published in 2017. If Harold Wilson was right in saying a week is a long time in politics, I reckon I'm more than justified in suggesting seven years is an eternity in financial advice. When I revisit the text now, unsurprisingly, I'm reminded that quite a lot has changed since I originally bashed it out. For a start, my own business is twice as old and many times larger than it was back then.
Andrew Goodwin: Why we all need to rethink consolidation

Nov 29, 2024 | professionaladviser.com | Andrew Goodwin

I wrote a few months ago about the value of attempting to find positives in the near-relentless slew of regulation that nowadays confronts the adviser community. Well, folks, it's that time again. By announcing a review into consolidation in the advice market, the Financial Conduct Authority (FCA) recently set alarm bells ringing for the umpteenth time. As has become traditional, this latest brainwave is largely centred around Consumer Duty and "good outcomes".
Overstretched: Is there a solution to the adviser's dilemma?

Oct 11, 2024 | professionaladviser.com | Andrew Goodwin

Why do so many IFAs find the idea of setting up their own firm so irresistibly appealing? IFAs may not be born businesspeople but they don't really have to be, writes Andrew Goodwin Anyone who dined at La Gavroche when it was run by Michelin-starred brothers Albert and Michel Roux would probably dispute the maxim that too many cooks spoil the broth. As a general rule, though, the old adage holds true. That's why you rarely hear of two chefs successfully co-managing a restaurant.
Why it isn't just clients who suffer from overservicing

Sep 3, 2024 | professionaladviser.com | Andrew Goodwin

One of the main reasons why so many financial advisers are unhappy in their work is that they repeatedly provide services their clients don't need. This is because they either fail to grasp or refuse to recognise what a lot of clients really want. The problem can usually be traced back to an assumption that the principal purpose of financial advice is to take a sizeable sum of money and make it bigger. This may well be the case in some instances, but it's often far from the number-one priority.
From pain to positives: Why advisers need to think differently about regulation

Aug 1, 2024 | professionaladviser.com | Andrew Goodwin

So how did you enjoy the first year of Consumer Duty? Did it genuinely transform your approach to business? Did your clients express their eternal gratitude for your supposedly newfound commitment to delivering 'good outcomes'? Forgive me if I sound unduly cynical. I don't mean to imply Consumer Duty is a bad thing. I just happen to know that many IFAs consider it yet another sizeable and largely unnecessary bureaucratic burden foisted on them by regulators and policymakers.
Unlocking the Power of Leadership: Driving Occupational Safety and Health Excellence

Jul 29, 2024 | ohsonline.com | Andrew Goodwin

Leadership plays a crucial role in establishing and maintaining a strong safety culture, fostering trust, motivation and emotional intelligence as well as addressing toxic behaviors to ensure a safe and healthy work environment. When it comes to ensuring a safe and healthy work environment, one factor stands out above the rest: leadership. The way leaders approach safety can make or break an organization's entire safety culture.
Andrew Goodwin: Zen and the art of financial advice

Jul 10, 2024 | professionaladviser.com | Andrew Goodwin

'We can't just stand there and keep taking it forever'What do financial advisers and Bruce Lee have in common? Andrew Goodwin shares his black belt insight... Back in the 1970s, when films like Enter the Dragon were all the rage, it became highly fashionable to take up martial arts. Most converts to the cause had a singular goal in mind: to be like Bruce Lee.
Why realism and responsibility should be par for the course

Jun 6, 2024 | professionaladviser.com | Andrew Goodwin

I've been an avid golfer for longer than I care to remember. As a result, I'm quite prone to viewing life through the prism of a pursuit Mark Twain supposedly described as "a good walk spoilt". Perhaps inevitably, I see especially strong parallels between the task of coaxing a small ball into a slightly bigger cup and the challenge of building a solid financial future. A major reason for this is that golf, like saving and investment, represents a classic case of risk and reward.
Andrew Goodwin: Financial advice and the Evangelista effect

May 10, 2024 | professionaladviser.com | Andrew Goodwin

As I try to make clear at every opportunity, I believe the future of financial advice lies in independence, approachability and affordability. As an industry, we need to embrace the idea that everybody can benefit from our services. You might feel inclined at this point to label me an idealist, an incurable romantic, an out-and-out fantasist or maybe even an idiot. I kind of expect that, because I see plenty of evidence that my worldview isn't exactly universally shared.
Is this subterfuge? The hidden appeal of Consumer Duty

Apr 16, 2024 | professionaladviser.com | Andrew Goodwin

I wouldn't exactly call myself the Financial Conduct Authority's (FCA) number-one fan. In fact, it's safe to say that most of the time I really can't think of a single good thing to say about it. I regard much of its near-relentless meddling as unnecessary and unhelpful. I believe its narrative around consumers' ability to make "informed financial decisions" is dangerously ill-conceived.