Simon Bonnett has over 25 years experience in Financial Planning; his career began at Norwich Union in the West End.
Simon is experienced in both Private Client and Employee Benefits planning and held several senior positions at Private Banks, Accountancy Firms and IFAs. At Fiducia, he specialises in Retirement Planning, Later Life Planning, Protection for the Family and Financial Planning.
What did you want to be when you grew up?
My father was into photography as a hobby and so I wanted to be a photographer; I was into portrait and sports photography.
How did you get into Wealth Management?
A school friend asked me to support him on a visit to the Job Centre in St. Pauls. I thought I should get interview experience so I picked up an advertisement (salary £3,427 ...); it was for an Administrator role with Norwich Union. I was offered the job following the interview, and haven’t looked back.
Describe your role in ten words or less (if that’s possible!):
Client-focused, business developer, jargon-translator, people educator, practice manager.
What is the most interesting thing about your work?
The people I meet and work with and for. You get to know them and share their passions with them.
How has the industry changed in the last couple of years?
It’s becoming even more professional; the RDR has focused advisors to adopt further professional practices and it’s raised the minimum standard from a qualification point of view. The profession has grown up, the attitude of people has changed, and thankfully it’s now about the client relationship rather than the sale of product.
We’re a profession and not an industry, and its all to the benefit of the client which is the most important point.
Is there a common misconception about Wealth Management?
People sometimes think it’s only about investing, whereas it’s about financial strategy including investments. It’s a holistic view. It’s a family office view; you look after your client’s welfare.
In which emerging market do you see the best potential in 2013?
Indonesia, Vietnam, or South Korea (naturally, take advice before investing ...)
If I wasn’t talking to you now, what would you be doing?
Developing relationships or tinkering to improve something.
Thank you Simon!
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