WELSH RARE BIT: BILINGUAL PENSION PUSH

OCT 11, 1999
"Tawelwch meddwl ynglyn a'ch pensiwn" might look like a tongue twister or perhaps even an insult, but to Welsh speakers it means "feel good about your pension." Martin Briggs, an independent financial adviser based in Wales, has launched a bilingual marketing campaign to attract Welsh corporate clients. Because while the Welsh might not yet feel good about their pensions, they certainly feel good about being Welsh. Although only about 12% of the country's 2 million people speaks Welsh, a recent government survey showed more than 80% of them are proud of the Welsh language and their national identity, says Mr. Briggs. It might not be Britain's Lone Star state, but Wales is rapidly rediscovering its national identity and recently set up its own national assembly. All government documents have to be printed in both English and Welsh, and even utility bills are in both languages. Mr. Briggs is not Welsh, but has lived in Wales for 20 years and is unashamedly targeting the Welsh as a specific interest group for the launch of group and individual pension plans. About 88% of employers in Wales don't have a pension scheme for their staff. Most Welsh companies are small and midsize enterprises that will face a financial struggle in providing their staff with pension plans when Britain's "stakeholder pensions" reform makes it obligatory, Mr. Briggs says. So Mr. Briggs has established the Welsh Pensions Group to provide employers with staff pension plans and enable businesses to negotiate better terms than they could have gotten on their own. So far he has brought a handful of companies with assets totaling about $16.5 million under the WPG umbrella. He hopes to make that total grow to around $835 million by April 2002, when the law takes effect. By the way, in case you were wondering, the slogan is pronounced "talech methil inglin ak penshun." Crain News Service

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.