Since the 1980’s there has been a dramatic change in the regulation of companies involved in the promotion and administration, of financially related products. Wave after wave of legislation has been introduced to ensure that the companies, as well as their employees, are properly educated and trained.Â Compliance with these acts and regulation is an onerous part of being allowed the privilege to promote and sell to the general public.
Standing on the burning sands of the North African desert the leader of Allied land forces Africa, a man known simply to his loyal men as Monty, looked out at the opposing forces facing them at El Alamein and stated a successful strategy is based simply on realistic expectations.
Realistic expectations were just as well defined by the Hollywood sex bomb, Mae West, when she stated that her only true desire was “sustainable growth!”
So as we approach the mid way mark of 2007 what would be a “Realistic expectation for sustainable growth” (small triangular tablets excluded!).
I am no spring chicken, but this must be, no I know this is the first year where I have entered any January with the heads of central banks warning of financial turbulence to come!
So what must we make of it all? Well, I believe it is simply a challenge we must all raise our game to meet. The biggest single issue will be managing client expectations.Â Our clients have gone from expecting to receive 30% p.a. returns to thinking that perhaps 2008 will look to take back much of what they made in 2006 and 2007, that we must put straight and quickly.