ACFA News - Chairman's Newsletter

Chairmans Newsletter May 2011

In this newsletter, I want to provide you with a stock take on where ACFA is and where we want to go.

But a few things first beginning with a reminder on what (y)our mission is; in a nutshell this is to present God's timeless message on money and possessions but through the prism of financial planning. Not only is it 'who's Lord of your wallet' but how to apply that across the complexities of modern life. Recently, a (Christian) client of mine felt led to give 20% of an inheritance away directly towards kingdom work' ahead of other competing and valuable priorities' counter cultural indeed. On the bigger scale, I still want ACFA to continue to speak out against barmy banks, greed, indebtedness in general and see how we can help the casualties of the financial system. How right it was a few years ago at ACFA Conference that John Kirkby (Christians Against Poverty) reminded us that God is passionate about 'loosing the chains of injustice and untie(ing) the chords of the yoke, to set the oppressed free and break every yoke?' (Isaiah 58v6).

Most economists agree that living standards in the UK will continue to fall for years to come for the majority, for us to re'emerge as a competitive nation; underlining both the need for advice over our client's scarce resources and the increasing cost of their commitment to biblical money principles.

Then I am struck by the degree of change we are experiencing in our business lives. More widely, Vodafone have just announced that they want to help facilitate 70% of the world's population to own a 'smart phone' which means network marketing from Mongolia to Timbuktu. Arguably, communication improvements are driving change more than 'RDR' such that emails are expected to be answered in a day, on-line valuation access are a must, our services are being 'go-compared' more than we realise, more client reviews are required, and costs/margins are being relentlessly reduced. RDR is turning nearly all of us into 'exam junkies'- age is no barrier!- and the 'TCF' initiative reminds us to 'keep running faster'- all the time! But, financial planning revolves around the 'client relationship'- and this is the strength of our offering above 'discount houses' (of which there are set to be a number of new and sophisticated entrants- be warned!). I am delighted to attach an article by ACFA's Philip Milton on 'trusted adviser' status. We really need the strength of the Holy Spirit during periods of rapid change and additional stress (remember David Oliver's talk- soaring like an eagle takes a lot of courage?!).

Many ACFA members are or aspire to be 'Business owners'- employers and entrepreneurs. Here there is a greater potential to build up a legacy of ethos and culture across the generations- what does God want with your business- is He the Lord of your succession planning? I hope to have some ACFA articles on buying and selling a financial services business, along with some member experiences.

A challenge for all of us will be how we encourage training for younger advisers wanting to join the business and see how they can build up client banks of their own. We have 3 free one year memberships for ACFA memberships for those under 30- contact me for details.

Focus on an ACFA member! This month, Kenneth MacPhie, gives a resume' on his life as a Scottish Christian financial adviser- see below.

Where are we in ACFA? A few points!

• Membership- we have 80 official members and I would like to see if we can boost this by 10 by the November conference and to a 100 before the end of 2012- ask Cathy to send out a pack to potential members.
• The committee- Arwyn Bailey has indicated that he is willing to join the committee and would be a very welcome addition. All committee members are under different pressures as ever- please pray for us.
• Personnel- Cathy is ably looking after the administration. Ben Powell (Mark Hassall's contact) is updating the website so well that we have shelved the idea of a new website.
• Marketing- We had a lot of Christian media exposure after the budget at some expense (we knew employing the excellent Andrew Boyd would make a hole in the budget). The articles you all write are very valuable indeed- this month Graham Cleveland has written a piece (see below) on the new reduction in IHT for estates gifting assets to charity.
• 9th&10th November Conference- This is very much in hand but we are still finalizing the speakers- 2 cabinet ministers have turned us down but our profile is undoubtedly increasing. Videos (DVDs), at modest production cost, will be sent out free to all members with the idea that you will pass them on to potential members and invite them along to Derbyshire! We are looking at 'Justice in Financial Services', 'Justice and Entrepreneurship in Business', and 'Justice and Practical Philanthropy'.
• Summer Conference season 2011- We are joining Crown Financial Ministries (Mark and Rhoda Lloydbottom) at New Wine Shepton Mallet (23rd July- 6th August)- Mark Crofts covering week 2 and myself week 1. Mark Hassell will help run the Lincoln 'Expo- Grapevine' event 26th-30th August. It is hoped that any direct referrals will generate income for ACFA! For 2012 we will be moving north- hopefully Keswick- for the conference season. Please pray for these events and that valuable contacts (with the public, other stall holders etc) will be made.

As I type this, Mark Hassell and I are aboard the Aurora for the Pims Conference- hopefully networking for ACFA as well as seeing if the old DJ and a bow tie still fit!

If God has really done something remarkable with you or your business then please do tell me.

God's richest blessing to you all.

Aidan Vaughan
(Chair)

Article by Philip Milton: Trusted Adviser Status

Article by Graham Cleveland: Your Will and Philanthropy!

Focus on Kenneth MacPhie: Christian IFA in Glasgow