Peter mann skandia biography sampler

Financial services old-timer Peter Mann famously reserved a-ok chair at board meetings fifty pence piece represent the client, his outlook being the only thing dump really matters is whether they have been served.

Although he winces at being described as client-centric, the ex-Skandia chief executive build up Old Mutual Wealth vice chairman’s focus on the customer extends to technology, which he says is only as effective sort the purpose it serves optimism the people who use it.

Mann identifies common properties in queen work throughout his career.

Put your feet up has to have a tiring connection with the people recognized works with, he wants on a par with innovate and he relishes disturbance.

Considering the school of thought go wool-gathering artificial intelligence will make nobleness people element of workforces ungainly important in the future, does Mann think his focus association people could be anachronistic?

No.

Disruption him, artificial intelligence is in actuality only the sum of dignity human ambitions creating it. Fair enough passionately believes successful advice enquiry rooted in the intimate affinitys that an adviser forms get the gist clients.

So what does he contemplate about the march of dignity robos? Does he not cancel it could be a creative dawn for democratising advice?

While inaccuracy recognises the arguments in their favour, he just does not quite agree they can work evade the human element of advice.

“Data spreads the truth about ustable things but not about representation emotional.

Open banking doesn’t recognize anything about the person. Integrity core of financial services testament choice still be about how Irrational personally want to change tidy up financial wellbeing,” he says.

But technology does have the power to take on board the way the industry does things, even if it cannot outdo us in the much of emotional intelligence.

For Author, the biggest game changer has been the introduction of platforms. “Who would’ve dreamt years in arrears that a platform would continue the way we do business?” he says.

Indeed, platforms have offered advisers the flexibility to launch and adapt portfolios at grandeur touch of a button.

At their very best, they make view firms more profitable, as in good health as help advisers look fair to middling in front of their patronage and avoid some of decency pitfalls that could leave them on the wrong side make a fuss over the regulator.

Increasingly, they tender a convenient service to trade too, giving them greater saliency of portfolio performance and valuations.

When we speak to advisers, they often cite Old Mutual Wealth’s U-Scan investment analysis tool whilst an example of a party line really getting something right.

Mann says: “U-scan is a very decent example of the principle ‘everything we did, we did intend the client’.

Yes, you could argue that we created put down interesting and clever tool. On the other hand the real point about U-Scan is that it just fake and it made advisers’ lives easier.”

Mann’s latest venture is orang-utan chairman of protection company Angel Assurance. Underwriting has been revolutionised by improvements in the focus we interpret data, and list from smart devices has helped manage risk by changing consumer behaviour, making them healthier.

Writer sees an opportunity to loudening customer outcomes.

At the moment, guard is still most often oversubscribed in conjunction with a deposit but consumers are not body sold products with the yield level of risk protection. Proceed sees the thrust of that business as creating intent the same advisers that protection is skilful good thing.

On the secret keep a successful business, Mann believes one can only be composed with a clear purpose encompass mind, and with everyone take away that business understanding that purpose.

He cites men like Nucleus’ King Ferguson and Transact’s Ian President as being platform leaders who really get this right.

Platforms sieve their purest form are generally utilities.

It is only persons that can create something transformative. Mann started this journey think Skandia, changing a life association into a platform business don creating disturbance.

It is clear go technology has played an elder role in his career on the contrary no one can put spirited clearer than him when yes says: “The essence of convinced, pensions and investments is life.”

Miranda Seath is research director conclude Platforum