Alphabet soup on the menu this month, with a handful of MiFID, plenty of Nurs and Ucits III and, you've guessed it, a dash of Sipps - although we have gone easy on the TCF. Sometimes the professional life of a financial adviser must resemble not so much a business as an appearance on Countdown.
It's hard enough to keep track of what all these acronyms mean - as in stand for - but what do they all really mean? For your business, that is? Well, on page 18 two experts offer their thoughts on the implications of the day of the MiFID. Unfortunately, their words of wisdom are subject to the FSA Consultation Paper on the subject, which was due out just after RealAdviser went to press, but it seemed best to lay down a few markers on the subject sooner rather than later.
On page 24, we have adnitor's Rob Hudson on how new retirement solutions are set to broaden the relevance of Sipp investing to a wider audience and then, on page 26, Gill Hutchison of OBSR - sorry, another acronym - looks at the new investment powers conferred by Nurs and Ucits III and discusses how they will be used, with particular reference to multi-manager funds.
That last pair also cropped up throughout the 2006 RealAdviser Forum, our coverage of which starts on page 29, and the general consensus is that - to paraphrase the underlying theme of more than one superhero movie - with new powers comes new responsibility. In this instance, that means advisers having to be surer than ever they know what they are buying for their clients but, of course, that brings yet another chance to shine and stand out from the competition.
Which brings us neatly - well, not too jarringly, at least - to the winners of this year's RealAdviser Awards, details of whom can be found from page 42. In a market where growth and innovation invariably rub shoulders with bandwagon and fad, it is understandable for advisers to wonder what truly makes certain offerings from investment houses, life offices and technology providers the cream of the crop. Our awards aim to offer just such a reliable guide. Congratulations to all the winners.
Julian Marr, editorial director
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