Industry farewells Jock Rankin

Lynn Ralph was deputy chairman of the Securities Institute when she first met Jock Rankin at the FPA Perth conference.

“We didn’t always see eye-to-eye and we had some robust discussions. But I think the reason why I worked well with Jock was that his passion for improving the standards in the industry was the same as mine. It was always pleasing to be working with somebody who was not a nine-to-five man and who was passionate,” Ralph says.

“The FPA got just the person [in Jock] they needed to create real momentum to put the organisation on the map. His dedication meant that he stepped on a few people’s toes, but once Jock had got his steam up, he was always going to break a few eggs to create the omelette.

“There was no way in the world anybody working with Jock would find it dull, it was always challenging. Afterwards you could always sit down and have a few reds with him. I learnt a lot from Jock, especially in the way politics and the media works.”

Lynn Ralph

Chief Executive Officer

IFSA

Russell McKimm was one of the presidents during Jock’s reign at the FPA and believes he was the right man for the organisation at that time, especially in getting the CFP designation for Australia.

“The work he did for the CFPs was what really impressed the Americans.

“Jock was the one person who drove it, he was so proactive.

“His great legacy for the FPA was getting the association recognised internationally and getting the Americans to give us real service.

“Jock was the right person for that time and for Paul Clitheroe and myself (both presidents during Jock’s term of office) who were going through enormous changes building the profile of the organisation.

“Jock was fantastic. He was just right for the times when we were growing and expanding.

“But when it came down to an established organisation that needed an administrator, that was not his bag.

“Administration bored Jock totally, it was not his forte.

“But Jock was the most stimulating person I have ever worked with. Jock never looked back. He just got into the next job and worked tirelessly.”

Russell McKimm

Deputy Managing Director

Tolhurst Noall

Paul Clitheroe was the second president of the FPA and played an active role in recruiting Jock. He has never regretted picking him for the job.

“One of the clear things the FPA needed in the early days was a dynamic chief executive.

“Bernie Walshe (the FPA’s first president) realised we couldn’t have the organisation run by volunteers. We needed a chief executive.

“Jock came for an interview and we impressed on him that a lot of the job was going to be public relations.

“At the interview Jock had a scruffy beard and I said that wouldn’t present a good image.

“Jock said he was not going to waste time. If he got the job, it would come off, but he wasn’t going to remove it if there was no chance of getting the job.

“That impressed me!

“He was a man of enormous energy. I realised that Jock was going to please two-thirds of the membership and leave one-third hating him. He achieved that!

“The guy had an opinion and could be stubborn. Once, when we were in Japan waiting for a bullet train, passengers stood behind yellow lines. Jock wasn’t one for queuing and just planned to get on. The train stopped and the doors matched the yellow lines, but Jock insisted it was a one-off. After the third bullet train left without us, we queued behind the lines.

“Jock pushed hard for our education standards and went about selling it to the ASC. In this Jock didn’t take many steps backwards and set up what the FPA should be doing about education.

“To this day, I think we’d be hard pressed to find a chief executive that could get the political attention that Jock did.

“He knew both sides of politics and they both liked him. They knew he was honest.

“I think Jock was fantastic for the FPA.”

Paul Clitheroe

Founder and Director

IPAC Securities

Ken Breakspear worked with Jock on public policy issues and managed to keep up with Jock’s bursts of energy.

“I had the job of easing Jock into the saddle at the FPA.

“The first time I met him I had to go to the ABC Studios in Melbourne. All hell was going on, which is a typical news day.

“In the midst of all this I had to give him a background briefing on the association.

“He then came to the 1994 Perth convention and that gave him the bigger picture É and after that we just had to hang-on!

“I remember we had a press conference on savings, in FAI’s boardroom, and there were TV cameras. Suddenly we were making news and thrust onto the big stage.

“Jock was a person who understood what was news and then set up the debate.

“He knew how to polarise an issue and the debate. Jock was about taking a position on an issue for the media and the political world. He also taught a few people how to swear as well!

“There is no doubt Bernie Walshe and Paul Clitheroe both were involved in fruitful years at the FPA, but Jock was the one with the political and media savvy, as well as the energy to change things and get things done.

“Jock would make up policy as he was talking to the minister and it often made sense, but he did trip up occasionally.

“I enjoyed working for Jock. It was stimulating and busy. He had a sharp intellect and a sharp tongue.

“He was not an administrator, but he pushed the FPA into being a professional organisation."

Ken Breakspear

Chief Executive

Financial Planning Association

Dominic Alafaci worked with Jock on a number of occasions, as chairman of Victoria’s practitioner’s committee and as a member of Russell McKimm’sTowards Professionalismtaskforce.

“I worked with Jock on a number of areas, but when there was the dispute over practitioners, he got various people to attend the board meetings to flesh out the debate.

“I am forever grateful for the way he brought the debate on subjects like this to the surface.

“Even though we all had different views, he would get us together and work towards achieving an outcome.

“Jock was a good conciliator and he didn’t let things hide behind a crisis. He brought them up, debated it and although we might not have always agreed with the outcome, there was an outcome.

“Every financial planner has reasons to be grateful to this guy as he took financial planning from a cottage industry and made it into a profession.”

Dominic Alafaci

Managing Director

Collins House Financial Services

Jock was executive director of the Institute of Actuaries for almost three years and president Helen Martin says his contribution will be long-remembered.

“With his trademark dynamism and drive, he provided a welcome challenge to members, and to the perception of the actuarial profession.

“In his representations on issues of public policy, he created a strong voice for the institute within government and industry.

“Jock’s voice was always heard, and he was never afraid of asking the tough questions.

“As for the man, we pay tribute to his generosity of spirit, his sense of fun and adventure and his belief in community values.

“Jock will be sorely missed by many, but remains a powerful inspiration for those who have had the privilege to know him.”

Helen Martin

President

Institute of Actuaries of Australia