Tennis, 'mom and pop shops' and a nod to Winston Churchill. The very best quotes from the IFP Conference 2010.
"It's a bit like hitting a tennis ball against a wall and saying: 'sooner or later, I'm going to win." Charles Ellis, founder of Greenwich Associates, on beating the market
"Some people are looking at the issue of independent versus restricted as though it is independent versus the devil." IFP chief executive Nick Cann
"The RDR is unquestionably bringing new members into the IFP. I think, previously, we were seen as some sort of holy huddle." Former IFP president Barry Horner
"Financial planners were seen as sort of mom and pop shops, and we need to be seen as more than that." Horner again
"When in history have so many paid so much to so few for so little." Charles Ellis, quoting Paul Miller, questions the value of 'performance investing'
"Given the choice, advisers would manage clients, so they neglect staff. This is a reason why a growing firm will constantly hit walls." Mark Tibergien, CEO, of Pershing Advisory Solutions
"Investment management has become defined by the loser and not the winner. At the end of the game the one who makes the most mistakes determines the outcome, leaving the other as the residual winner." Charles Ellis
Favorable tax treatment
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