SONIA WHEELER IS NOW A DIRECTOR AND SHAREHOLDER OF ESSENTIAL FINANCIAL MANAGEMENT LTD and THE FINANCIAL ADVISER COMPANY LTD

I would like to share the good news that I have appointed Sonia a director and she is now a shareholder of both companies.  Sonia has been a part of our companies for over four years from when she joined from being a building society manager locally.  Since then she has achieved The Certificate in Financial Planning and this year completed the daunting task of passing all the examinations for the Diploma in Financial Planning.  She now intends to continue to become Chartered.  Sonia is also licensed to advise on all products and therefore has passed all of the necessary internal examinations as well to ensure that she is compliant under the Financial Services legislation.

Sonia has been a great asset and help to me and is helping me to further structure our companies to be ready for the forthcoming Retail Distribution Review that becomes law on 31st December, 2012. This is "the big bang" of financial services and effectively means that for almost every financial product there will be no commissions but fees only.  Clearly Essential Financial Management is on the road to being compliant here but it will extend to The Financial Adviser Company Ltd. as well.  This will have to be achieved by the end of 2012 and the whole industry is making changes including Openwork who have recently bought an Independent Financial Adviser Company, 2Plan, and are now looking into wraps and The Financial Adviser Company will be among the first to take advantage of this for the benefit of our investment clients.

Marc Sullivan who has this year achieved his Certificate of Financial Planning and also one element of the Diploma in Financial Planning, assists Sonia and is now responsible for all submission work and liaises with Openwork and providers to ensure that we are compliant.  It is my intention to take on a further graduate for our ongoing training programme during 2011 who will work alongside Marc and Sonia.

Sonia is known to all of our clients and works exclusively with many of you, thus allowing me to step back a little over time.