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...

Click through to page 2 to find out more about Derek and the awards

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.