New Tisa chief is proving he is not the retiring kind

David Dalton-Brown has been in the industry a long time. He was head of Fidelity Fundsnetwork and business development director of Prudential before retiring in 2013.

However, late last year, he got the call to take the post of director general of Tisa. He was already sitting on the board, and decided that full-time retirement was a little bit too comfortable, so he eagerly took up the mantle.

He said: “I have been closely associated with Tisa for a number of years. When I was asked if I was interested I saw it as a great opportunity to use my experience to give something back.

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“This is my second attempt to retire. The first attempt I got bored. You can only travel so much, read so many books, go through so much of your bucket list. Work has many benefits. You’ve got your challenges and working towards a particular goal.”

Mr Dalton-Brown plans to work four days a week as part of the compromise he made with his family.

Tisa is what Mr Dalton-Brown calls an “industry-led association” – effectively a lobbying group consisting of 150 firms across financial services, including investment banking, insurance and distribution.

Tisa business consists of a number of councils meeting regularly to discuss issues of policy, and areas where they would like to see improvement.

Mr Dalton-Brown said: “Everybody has to leave their commercial guns at the door. One of the golden rules is there’s absolute confidentiality on the councils. We do not talk about the product part of the industry or firms – it is more about what is the right policy for the consumer and the nation.”

It is this last point that Mr Dalton-Brown sees as the main motivating principle of Tisa: “We put the consumer and nation first. The members believe if we get it right for the consumer and nation, financial services and the UK will be strong.”

This motivation has driven the latest initiative from Tisa, which is the proposal to introduce a ‘digital passport’. The concept is for a person to have all his financial details in one place, so that when he moves house or job, all his policies and accounts are automatically updated.

Mr Dalton-Brown said: “The government has got the infrastructure already. If you go through Gatwick, you already have a digital passport.

“With a financial digital passport there will be benefits to the consumer – if someone changes their address seven times throughout their life and change job 11 times, a lot of people lose track of their savings. But if you change your address once on your digital record you won’t have to send your address to all the banks and insurance companies.”

This could have implications for advisers. For example, if a client is set up on the system, which Mr Dalton-Brown said would be voluntary, and gave his adviser access to his data, an adviser could build an app for the client and put everything in one place for him.