Proposition; one word to cover essentially the entire make up of an advice firm, what they offer their clients and how they do it. It’s for this reason we refer to it as your DNA; the component parts of your client focus and service offering that make your business entirely unique. And we’re here to help you create, document and review it, keeping you compliant along the way.
Too many firms are still spending £££ and hours of time undertaking case by case research. Not only is this costly and time consuming, it’s also not very compliant as it can lead to inconsistent client outcomes.
Putting your firm’s propositional structure in place isn’t just good practice; it centralises the core for your compliance, it makes the advice process streamlined and fair and it saves you paying for unnecessary, expensive research tools.
We recommend all of the following elements in order to build up your full business DNA, but you can choose to work with us on as many of them as you wish:
Reviewing your clients, recommended products, the alignment between the two and your matching and disclosure process. These are requirements under MiFID II and help set the foundations for your whole process.
Knowing what your clients might need in terms of functionality and investment accessibility is the starting point to reviewing the most suitable platform. Given how rapidly changing this sector now is, thorough due diligence is more crucial than ever.
Your approach to overarching investment philosophy, the rationale behind your core selections, how these match to your client segments and your outlier process. All core to a clear but robust investment proposition.
A company level strategy to managing decumulation, this is about more than just making changes to investment strategy. Instead a researched and documented approach to income strategies and good practice for managing volatility will ensure each adviser is providing consistent advice at this crucial stage of financial planning.
You can find out how to build a Centralised Retirement Plan in our whitepaper below or if you'd like to understand more about the process behind each of the elements, plus costs, download our brochure.
