lunes, 28 de octubre de 2013

Hassan Draper

Having started in financial services in 84/85 with NML, which is a
with-profits insurance company. The company, put simply, was owned by its
clients/policy holders and as a result all of its profits would be spread
out internally. The regular investment contracts paid out an amount each
year as a return with a final bonus paid out upon the investment maturity
date. Most of these types of insurance companies have been around for
decades.

As the eighties exploded, more and more companies thought the way forward
was a direct sales force selling that specific companies financial products,
with the biggest players at that time having 1000's of sales people. It
really was an exciting time. At that time cold-calling was allowed, so we
were able to call businesses directly to talk about the products we offered.
In most cases back then, there were very few individuals who had life
insurance opposed to people with in company pension schemes, which also
offered death-in-service within this scheme. Anyone self employed or in a
partnership fell out of this group and therefore had to make their own
personal arrangements.

The eighties was an on-going good time for the financial process, council
housing tenants had been given the right to purchase their own property,
there was shared ownership available to all people with privatisation. This
was available as state owned businesses were sold off by the government.
Looking back at that time, most people would have an opinion on whether it
all a good or bad thing. Or maybe was it right for a person to purchase
their council house? Along with many other shared or individual opinions. I
am not writing about the positives and negatives of the times, only about
being present at what has, ultimately, shaped most peoples financial future.

By Hassan Draper

Hassan Draper started in financial services back in the mid 1980 as a
manager specialising in mortgages and commercial loans.

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