The Paraplanners Powwow is set to grow under shared ownership in the form of a co-operative, its founder Richard Allum has said.
Since the inception of the Paraplanners Powwow in 2013, Mr Allum, managing director of Oxfordshire-based The Paraplanners and board member of the IFP, said he had been thrilled with the growth of powwows across the country.
Such has been their success, he is exploring shared ownership of the Paraplanners Powwow, in which all Powwow participants will be entitled to an equal stake in the Powwows as a whole.
This will be in the form of a formally established legal co-operative in which Powwowers can claim an equal share.
He said: “The first Powwow was really my way of keeping a promise I made when I was elected to the Board of the IFP.
“What’s more, the first Powwow was only possible thanks to enlightened brands who were willing to forfeit the traditional trappings of sponsorship in order to tune in to what was on the minds of paraplanners nationwide.
“To be frank, I only ever expected the Powwow to be a one-off event, which means I didn’t expect smaller Powwows to start popping up across the UK.”
There were events in Leeds, London, Nottingham and Manchester, with others planned this year, notably one in March, in Edinburgh.
Mr Allum said: “What is brilliant is the way in which paraplanners have taken that idea, got hold of it and – together – created Powwows for themselves. It has got me thinking.”
He said because the events have been voluntary, with income coming from supporters and reinvested into the events themselves, he felt the Powwows had thrived because they were created “by paraplanners for paraplanners”.
This is what spurred the idea to create a legal co-operative. He said: “We think it’s the obvious route because the way we organise Powwows today works exactly like a co-operative could. And we think the national Powwow would be the Annual General Powwow.”
In terms of sponsors, Prudential and Transact have confirmed support for Powwows in 2015. Mr Allum said the group was hoping for five to six but the number would be capped at this level.