#AskDF: David Ferguson's hour in the Twitter hotseat
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The time has come to welcome @david_ferguson to the hot seat for our Twitter interview. Thanks for joining us David! #AskDF0likes
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@NewModelAdviser Hi there – happy to be here #askDF0likes
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RT @nucleuswrap: @david_ferguson ready and waiting for #AskDF to begin http://instagr.am/p/KZ0KzimYUt/0likes
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@david_ferguson You hit profitability in Q1- congratulations. How hard is it for smaller wraps to get there? #AskDF0
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RT @david_ferguson: @NewModelAdviser It was a load of work (& fun) but it’s a longer slog for the historically larger, legacy players #askDF0likes
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@NewModelAdviser PS Thanks! 😉 #askDF0
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@david_ferguson When do you think AXA Wealth, SL & Skandia’s platforms are going to hit profitability? Should it be easier for them? #AskDF0
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@NewModelAdviser I think Axa have said £7-8bn in 2013 – the others (from a post-RDR platform perspective) are anyone’s guess… #askDF0
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david_ferguson 5 yrs ago the differentiators for a good practice was what is now RDR – what will set good firms apart in 5 yrs time? #AskDF0
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@NewModelAdviser They may have deeper pockets but I’m less sure that their s/holders want them emptied! #askDF0
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If he asked really really nicely would you give @GrahamBentley a job?! 😉 #BOOM #AskDF (@NewModelAdviser)0likes
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OldSkool – Selling financial products – and anything else – the old fashioned way…
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@OldSkoolAdvice All we want to is have the brightest stars in the industry working here #askDF0
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@david_ferguson @NewModelAdviser may be hard for some to get to profitability, but Cofunds profitable for four years! #askdf0likes
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Stephen Wynne-Jones is head of marketing at Cofunds
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@Stephen_WJ in like a rat up a drainpipe there #goodlad #companyman #brightfuture #askDF0likes
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ClassicLifeOffice – A wry look at the life industry…
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@Stephen_WJ Great to see Cofunds profitable but still no post-RDR proposition… #askDF0
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@newmodeladviser I like where you’ve taken Nucleus, where do you see the business in 5 years? #askDF0likes
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Alistair Kettlewell is senior trading manager at Aviva platform
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@ilovegauchos Thanks. In five years? Bigger, better, doing more, smiling… #askDF0
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@david_ferguson As a smaller wrap, do you feel disadvantaged for not having as deep pockets as the life cos? Are deep pockets v imp? #AskDF0
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@NewModelAdviser It’s not about deep pockets, it’s about a believable, sustainable model. And doing great work for adviser & clients #askDF0
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@NewModelAdviser Burning £10m’s of capital every year doesn’t feel terribly viable ahead of a lower margin environment… #askDF0
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@David_ferguson How do you see the D2C market developing? Evolution or Revolution? #askDF0likes
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Carl Howard is a strategic leader in retail financial services
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@carlfhoward Hi Carl – huge market in medium term but it will evolve to that. There won’t be 50 HL’s this time next year… #askDF0
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@david_ferguson Life cos are nw unbundling w cheap fees-do u feel threatened? Hw will u differentiate yourself when all bcom ‘wraps’? #AskDF0
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@NewModelAdviser It’s a competitive market but the bigger threat lies in the continuation of lifeco embedded value myth #pressure #askDF0
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@NewModelAdviser Differentiation will be on service, price, functionality and culture – we’re cool on these (for now at least)… #askDF0
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Lots of questions coming through on the #AskDF feed for @david_ferguson http://instagr.am/p/KZ2M9LGYVR/0
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@david_ferguson Enjoying the whole #AskDF episode this morning, Thanks. Questions are great, and answers to the point0likes
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Gina Sargunar is a research manager at Project People
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Is social media essential to your marketing plans? If so, what platforms work best for you and what’s your ROI? #askDF0
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@castletrust I guess it’s a core part of our strategy. But then again it’s just a conversation… @garyvee a huge inspiration #askDF0
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@castletrust Sorry, missed the ROI point – hard to measure but sales/marketing costs around 20% of industry norm… #askDF0
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@NewModelAdviser @david_ferguson How many, and who will survive the “Great Wrap Apocalypse”? #askdf0likes
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Alistair Cunningham is a chartered financial planner
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@Cunningham_UK Haha, like it – those with a focus on technology and unwilling to play historic sales/marketing games… #askDF0
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@david_ferguson What do you think will be revealed in the FSA’s platform paper? #AskDF0
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@NewModelAdviser Hard to say – I’d like to see focus on removing fund manager bias – is the biggest issue holding the sector back #askDF0
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@david_ferguson shush. LALALALA WE CAN’T HEAR YOU #sustainable #flexibung #withprofitsestate #allsorted #askDF0
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Great Q&A with @david_ferguson on Twitter right now via @NewModelAdviser. Catch up with the conversation here: http://ow.ly/aNfFX #AskDF0likes
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Platform People provide specialist services to financial services organisations that build investment platforms for the financial services sector
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@david_ferguson @newmodeladviser the killer question – will you platform of the year this year? #askDF0
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@ilovegauchos @newmodeladviser I hope so! We’d be first to hold onto it I think. #askDF0
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When you crap on about no kick-backs and all that new model adviser b*llocks you dont really mean it right?! #AlwaysRoomForABung #AskDF0
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@NewModelAdviser @david_ferguson Do you have an ethical/moral/other issue over adviser ownership? #askdf #conflictofinterest0
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@Cunningham_UK Potential for conflict runs through everything. If ownership creates a better outcome that’s cool. If not, cool too #askDF0
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@Cunningham_UK Only the adviser is adequately informed to assess suitability #askDF0
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@david_ferguson Give me a number, even if not names 🙂 #askdf @NewModelAdviser0
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@Cunningham_UK <10 running on 3-4 technology backbones – lots of white-labelling #askDF0
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@david_ferguson @newmodeladviser last one, who do you see as your biggest threat? #askDF0
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@ilovegauchos @newmodeladviser We admire several other platforms, some more equally than others… #askDF0
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@david_ferguson You are a big advocate of independence- how does that fit in with Sanlam’s part ownership of Nucleus? #AskDF0
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@NewModelAdviser I’m a big fan of creating great client outcomes – Sanlam have been/remain a great s/holder for the business… #askDF0
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@david_ferguson #AskDF @NewModelAdviser Have you Googled “David Ferguson”?0
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@Cunningham_UK @NewModelAdviser ‘Google q’ not lately. Have you? #askDF0
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@Cunningham_UK Turns out I’m #7 on basis of this Twitter a/c #askDF0
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@Cunningham_UK 😉 Google! #askDF0
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MT @NewModelAdviser: @david_ferguson How does that fit in with <everybody’s> part ownership of Nucleus? #AskDF0
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@david_ferguson @NewModelAdviser Me – I have G.Alert (I’m that vain!) #AskDF – I notice #1 “David Ferguson” on Google is a used car salesman0
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@Cunningham_UK @NewModelAdviser Sorry Alistair, don’t understand that one #askDF0
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RT @david_ferguson: @Cunningham_UK @NewModelAdviser Sorry Alistair, don’t understand that one #askDF > It was a “on a lighter note” question0
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@david_ferguson #AskDF @NewModelAdviser And if/when Nucleus sells, what’s the “right” thing for advisers to do with any windfall?0
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For live online example of someone with a bee in their bonnet please follow @Cunningham_UK ! 😉 #WayToGoMrC #AskDF0
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@Cunningham_UK @NewModelAdviser ‘Right thing’ – no idea – they’ll know better than me… #askDF0
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Half way through #AskDF and @david_ferguson busy replying to all the Qs flying in http://instagr.am/p/KZ3x-5mYWL/0
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@david_ferguson What about adviser ownership/ conflict of interest. FSA been hot on CoI, is it an issue for Nucleus IFAs? #AskDF0
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@NewModelAdviser Conflict of interest always a potential issue for advisers – key is what the client outcome looks like #askDF0
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@nucleuswrap @david_ferguson don’t know how he’s keeping up with it all #fast&furious #askdf0
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@NewModelAdviser @david_ferguson Would Nucleus ever do a model where the adviser, not the client, pays for the platform? #askDF0likes
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Mark Polson is principal at the lang cat, a financial services consultancy specialising in pensions, platforms and investment marketing
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@theactualpolson There are many things we’re thinking about – pricing is always one of them… #askDF0
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@david_ferguson #askdf have have Nucleus done so well with such a small budget? why does everyone else have to throw so much money at wraps?0likes
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Steve Burley is the owner of Burley Financial Services Ltd
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@steveburley Too many trying to do the new thing the old way. These are times of massive change and old behaviour inadequate #askDF0
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@steveburley No idea Steve but happy to remain exclusively aligned as we are… #askDF0
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@david_ferguson #askdf why do you focus on the IFAs that you do? are you tempted to go for the ‘mass market’?0
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@steveburley I guess the intimate involvement of the adviser community brings a focus on cost not found everywhere else #askDF0
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@david_ferguson #askdf do you think that having IFAs as shareholders helps focus the mind? i am sure your shareholder ask more questions !0
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@steveburley I believe that the intimate involvement of advisers gives us a tech/service/cost discipline lacking elsewhere #askDF0
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@david_ferguson: Fair play. What do u make of recent FSA concern about platforms CoI and single use etc. Justified or misinformed?0
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@NewModelAdviser FSA should focus on cool client outcomes. What wrap doing is demonstrably better than most of junk in last 20yrs #askDF0
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@david_ferguson #askdf do you think there are too many wraps at the moment? if so, would Nucleus look at buying or merging?0
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@steveburley Scale will be important but several ways of getting there #askDF (sorry missed this one)0
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@david_ferguson #askdf do you think IFA shareholders enable you to develop the wrap how it should be developed? rather than how is can be?0
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@steveburley Yeah, there’s a lot of weak chat in this industry about partnership. This is much more real. #askDF0
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@david_ferguson: Away from platforms for a sec. You’re famous for your love of life cos. There’s a job going at Aviva, interested? #askDF0
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@NewModelAdviser Haha – best one yet – I just think the sector is structurally challenged. Loads of £ to be made running off the past #askDF0
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@NewModelAdviser Not at all clear that platform margins will support the lifeco business model… #askDF0
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MT @david_ferguson: @NewModelAdviser … most of junk in last 20yrs #askDF < Cheeky sod that “junk” has kept me in the proverbial manner!0
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U worried about the shareholder “spring” 😉 @david_ferguson @NewModelAdviser #askDF0likes
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Chris Davies is cofounder of Engage Partnership Ltd
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Wow, this #AskDF is fast and furious – http://statigr.am/p/187432156524021157_211366320likes
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Lisa Breslin is communications manager at Nucleus
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@david_ferguson #askdf are your fingers hurting yet?? 🙂0
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RT @steveburley: @david_ferguson #askdf are your fingers hurting yet?? 🙂 < OH COME ON!!!! That’s just too easy!0
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#askDF Is making interesting reading for my train journey, thank you @david_ferguson @NewModelAdviser0likes
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Kat Mann is PR executive at AXA Wealth
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@AXAWealthKat 😉 hope you arrive on time #askDF0
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RT @AXAWealthKat: #askDF interesting reading for train journey, thanks @david_ferguson @NewModelAdviser >>>>> 1st class? 😉 #DeepPockets0
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@Chrisatengage @NewModelAdviser I’m excited by it – too many people making too much money too easily at client’s expense #askDF0
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@david_ferguson how do shareholder IFAs capitalise from their ownership of Nucleus? #askdf0likes
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Rob Stevenson is director of Kingmakers Ltd
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@RobS_Kingmakers Hi Rob – the shareholder agreement provides for liquidity down the track #askDF0
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@david_ferguson: On Aviva and wrap, they’re rebranding as a ‘mass market wrap’. Given the margins at hi end, is that feasible? #askDF0
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@NewModelAdviser Aviva rebranding their wrap? Surely not! #askDF0
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@david_ferguson #askdf dont you mean, aviva rebranding their wrap? what again??0
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@NewModelAdviser Seriously, anything is possible and all most retail FS will run on platforms in 10yrs so do-able #askDF0
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@nucleuswrap CEO @david_ferguson doing a great job answering questions via Twitter. You can view previous q’s and get involved using #askDF0likes
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The Platforum works with platforms, product providers, asset managers, advisers and distributors to provide help with research and strategy
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Into the final lap of #AskDF – http://instagr.am/p/KZ6IU9mYXI/0
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Top effort from @david_ferguson for managing to keep up with all of the questions being fired at him through #askDF0likes
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@ParsFanVicky Cheers Vicky! Now get back to work… 😉 #askDF #meetNucleusclientrelationsmanager0
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This could be the hardest work I’ve done this year! #askDF0
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@david_ferguson #askdf do you think that there will come a time when wrap charge a flat fee in £ rather than % ??0
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@steveburley I honestly think that anything is possible on pricing. Anyone relying on things remaining the same will lose. #askDF0
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@david_ferguson: Rebrands abound, but what about new entrants. Quiet compared to last year. Where’s Zurich and Barclays? #askDF0
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@NewModelAdviser Zurich is in Switzerland. Barclays on any high street. #askDF0
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BREAKING: @david_ferguson is dictating all his answers to his secretary like bald bloke from Skandia did! 😉 #skills #oldskool #AskDF0
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@OldSkoolAdvice Full head of hair here and Margaret off to lunch! #askDF0
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Wots ur position on DFMs and vat – also platform a service only thus obsolete ?@david_ferguson @NewModelAdviser #askDF0
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Not main protagonist in advice process but move to d2c @david_ferguson @NewModelAdviser #askDF0
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@david_ferguson Will Nucleus have to take a closer interest in DFM/client/adviser relationships as a result of GC12/06? #askDF0
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@theactualpolson We believe our contractual structures are robust for current model – long way for DFM to run though #askDF0
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@NewModelAdviser @david_ferguson Now Nucleus have broken into profit, will you drop thre “failed actuary2 tag? #AskDF0likes
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Tim Page is a certified financial planner
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@TimPageCFP Incomplete Tim, incomplete! #askDF0
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@david_ferguson: Very good, given the time left, we’ll let that go. Any chance of Fergi’s final thoughts (in 140 characters)? #askDF0
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@NewModelAdviser Don’t stand still, converse deeply, do more, don’t listen to the old guard – they have too much to lose #askDF0
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@david_ferguson and everyone else.That’s all we have time for, thanks@David_Ferguson for your time and hope you all enjoyed tuning in!#askDF0
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A big thank you to @david_ferguson for a super effort on the keyboard this afternoon. Thanks also to everyone else who got involved. #askDF0
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By my count @david_ferguson answered 4 q’s to other twinterviewees’ 1. The gauntlet is down. #askDF0
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He’s still smiling! #askdf couldn’t have been too bad for @david_ferguson http://instagr.am/p/KZ7xnMmYXz/0
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#askDF Who do you think were the better pub rock band – The Clash or The Stranglers?? @david_ferguson0likes
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Barry Neilson is business development director at Nucleus
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#askDF Most memorable Dundonian – Billy McKenzie or Albert Kidd? @david_ferguson0
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#askDF rice or nan? @david_ferguson0
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Red or black?! 😉 #MyLastMonkey #AskDF0
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#askDF Earliest memory?0likes
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Andrew Hart is an investment adviser at SerenityFP
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@AndrewHartIFA Nursery school. Aged 2.5-ish. Indoor slide. #askDF0
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Nucleus Financial Group : Home
#AskDF. Live twitter interview Wednesday 9 May. David Ferguson, Nucleus CEO, . Advisers: Login to the platform · Private Investors: Logi…0likes
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