2022 marks the 40th year of trusteeship for the business that is now known as 20-20 Trustees. In a series of blogs, Trustee Director Andy Bakewell shares his memories of four decades working for the business.
40 Years of 20-20 Trustees / Part 3 – The Noughties
It’s the beginning of a new century and an exciting time for the business, as Bradstock Trustee Services is sold to Alexander Forbes to become the newly named Alexander Forbes Trustee Services. The company expands significantly, quickly jumping from two people in the Nottingham office, to eventually an entire floor of 20 staff beavering away (absorbing the London and Manchester teams in the process).
As the Queen cut the ribbon for the Millennium Dome grand opening, there was much excitement about living through the dawn of a new era. We were moving in to our new large, open plan office and business was going strong as we continued to pitch for and win distressed insolvency and PPF cases – an expertise that we are renowned for to this day. Thankfully, the ‘Millennium Bug’ rumours of computers and networks crashing around the world at 00:00 on the 1st of January never happened… phew!
It was this decade that communication rapidly evolved – with the introduction of social networking sites such as Friends Reunited and Myspace, that no doubt went on to influence the likes of Facebook a few years later. And, of course, email started to replace traditional ‘snail mail.’ We could even email from our mobile phones with the launch of Apple’s iPhone – the must-have accessory for early adopters.
In pensions, various groups had been lobbying for years for support for schemes that had missed out on PPF help, and so in 2005, the Financial Assistance Scheme (FAS) began operating. The FAS provides financial assistance to members who lost all or part of their pensions when their scheme came to an end between 1997 and 2005. This meant I was able to receive my Bradstock pension – so thanks to everyone who lobbied for this!
Politically this decade was shaped by a date forever etched in our consciousness – 9/11. These attacks shocked the world and also saw the launch of the so called ‘War on Terror’ when in 2003 a US-led coalition invaded Iraq. A few years later in 2005, London was also the scene of a terrorist attack – 7/7. It wasn’t until 2009 that Britain withdrew most of its troops from Southern Iraq.
In the entertainment world, we were introduced to the new James Bond, Daniel Craig. JK Rowling also penned her final Harry Potter book, much to the dismay of her fans. In sport, José Mourinho joined Chelsea while Lewis Hamilton became the youngest ever F1 champion.
Next week we wrap up the series with the final episode of our story: The Teensies!
With over 40 years-experience in trusteeship, 20-20 Trustees are an award-winning professional independent trustee organisation, committed to making a difference in the world of pensions. Whatever your trustee requirement, we’re sure we can help. Get in touch today!