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Unsung IFA heroes: #1 Derek Bull
In a new monthly series, Professional Adviser and PanaceaIFA honour those individuals who go above and beyond. The inaugural winner? Meet Derek Bull...
Derek Bull
Born in 1948, an education at Clifton College saw Derek Bull take a law degree at Liverpool University, where he decided not to follow his father into architectural practice but joined ICI instead in 1968.
After four years he moved to BASF and then in 1975 to William Timpson Ltd, part of the UDS Group of Companies where he was responsible for the administrative functions of the buying department.
Following the takeover of UDS by Hanson in 1983 he remained with the firm until its purchase by Olivers in 1987, where he was part of a management team co-ordinating the transition process. He then joined Alma Holdings Ltd, an international confectionery company, where he stayed until 1991 as assistant to the finance director.
Champion of fairness
Bull is a passionate voice of the IFA industry and increasingly proves himself a champion of fairness under the current systems of regulation, consumer protection and adviser processes. He recognises and addresses issues for the benefit of both the IFA and the consumer. Bull is one of few who is prepared to do this in the interest of justice, ahead of monetary incentive.
Although he came into financial services at the latter part of his career, by a chance encounter with a local IFA who needed legal and administrative assistance, Bull was immediately inspired by the profession.
Establishing his own IFA business, he was actively involved in the Pension Review. He felt that there was a great deal of injustice in the way honest IFAs were treated during this process.
And while a great many recognised that the system of regulation, consumer protection and adviser processes was deeply flawed, not many were prepared to do anything to redress these imbalances. Even fewer were prepared to do so without payment and fewer still at financial expense to themselves, particularly without having any direct personal interest in the outcomes.
Standing up for the cause
Bull felt that decent hard-working individuals were being judged guilty before the fact, with not enough being done in the interests of fairness, and this inspired him to stand up for their cause. The Pensions Review fuelled Bull’s passion in assisting IFAs, many retired.
Calling on his legal skills and the extensive experience of IFA businesses, Bull spoke out on behalf of the IFA industry and continues to defend their democratic rights. Since his retirement, he carried on with this cause, often pro-bono, and to this day remains a voice for the IFA industry.
The CV: Derek Bull
Career:
1968 – ICI
1972 – BASF
1975 – William Timpson Ltd
1987 – Alma Holdings Ltd
Years in industry:19
What motivated you to come to work each day? Job satisfaction
What was your greatest challenge as an IFA? The Pension Review
When not working, where are you most likely to be found? Reading
Loves: Risk takers
Hates: Hypocrites
Favourite food: Duck
If I hadn’t worked in finance I would have: Been a solicitor.
Top business tip: Don’t chase turnover at the expense of profit
The Judge’s View
Derek Bradley, CEO of PanaceaIFA
“Derek is a true champion for the IFA industry. In his passion for fairness he goes where others fear to tread, helping fellow IFAs seek fairness. If ever there was an unsung hero it’s Derek. It is my hope that he will become an inspiration to others, much like his local IFA inspiring Derek himself all those years ago to become who he is today.”
The nominator’s view
Alan Lakey, director at CI Expert
“The Financial Services industry comprises all sorts. There are a great many that recognise that the current system of regulation, consumer protection and adviser processes is deeply flawed. Unfortunately, not many are prepared to do anything to redress these imbalances. Even fewer are prepared to do so without payment and fewer still at financial expense to themselves, particularly without having any direct personal interest in the outcomes. In short, working in the interests of fairness. Derek Bull is one such person who acts as legal guru calling on skills from legal training and years of administrative work within IFA practices.”
About the award
PanaceaIFA.com, in association with Professional Adviser, is on the search for IFAs, paraplanners and back office support staff that go above and beyond the call of duty in their personal and professional life. If you have a colleague you consider to be an unsung hero or if you feel you are deserving of recognition yourself, please get in touch by visiting www.panaceaifa.com/unsunghero.
"Every month Derek Bradley, CEO of PanaceaIFA, will choose the most deserving nomination from those submitted and the winner will receive £160 towards a Michelin-starred restaurant of their choice, and Professional Adviser will publish a half-page profile within their magazine, highlighting the good they have done."
Campaigning for change
Assistance to colleagues
Help given to others within the industry
Article last updated: Jan 27, 2012
Derek Bradley, CEO
Sarah Paul, Marketing Director
James Bradley, Head of e-Relationships
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