SteveBillinghamConsulting

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RDR

More than 60% of financial advisers’ clients are unprofitable

We recently launched our online evaluation for financial advice firms, which we have called an “RDR Reality Check”. The idea is to ask firms questions about where their business is in relation to being prepared for RDR, and give them some ideas on the things that they need to be thinking about. Although it’s not …

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The Experience of Insight

Do you know why we sometimes struggle to convince people to see what we see? Have you had an “Aha!” moment? What we are referring to here is “Insight;” A shift in our minds and consciousness that either means we see something others don’t, or that recognition when we, ourselves, ‘get it’. I was fortunate this …

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6 steps you need to take to getting “RDR ready”

The FSB’s Retail Distribution Review (RDR) is just around the corner and firms need to be thinking about getting ready. The UK RDR process started with consultation in 2006, fully six years before implementation in 2012. Whilst the process will inevitably be a bit different in South Africa, the direction of travel is fundamentally the …

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Is independence really a differentiator?

Last week I mentioned an article in New Model Adviser by David Burns of NMG reflecting on their predictions from 12 months ago about the impact RDR would have on the adviser community. The article amongst other things suggested that concerns about the great british public’s willingness to pay fees for advice haven’t materialised in …

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Is your business booming?

I was interested to read an article in New Model Adviser this week by david Burns of NMG reflecting on their predictions from 12 months ago about the impact RDR would have on the adviser community. The article, under the headline “Business boom for advisers dispels RDR gloom” focuses on the fact that there has …

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Is an AUM charging model sustainable?

Over recent months, it appears to me that the “default” AUM adviser charging (and for that matter investment management and platform charging) model is under threat. And I don’t just mean from the FCA, though clearly their focus on this method of charging does bring the issue front and centre. In the more transparent post …

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Profitable Practice Management – Part 6

Defending your fees In video 6 of our profitable practice management series we explore the tactics you can use to defend your fees when challenged by your clients, as you undoubtedly will be from time to time in the more transparent post RDR environment.

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“Harmful Compromises” of poor adviser charging decisions

In this week’s video blog I outline the damaging compromises and consequences of getting your adviser charging strategy and pricing decisions wrong. What compromises are you forced to make?

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RDR Deadline brought forward!!

I thought that headline might grab your attention. Whilst the FSA haven’t changed the timeline, a couple of developments during the last week mean it is definitely “game on” in terms of adviser charging implementation and the removal of commission. Firstly last Saturday’s Money section of the Daily Telegraph included a 6 page (not wholly …

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Platform Pricing Compared

In this weeks blog I wanted to draw your attention to a great new guide to platform pricing from Mark Polson, owner of Lang Cat. In this guide Mark has provided a comprehensive analysis of the UK’s 17 leading platforms. That’s right 17!, surely they can’t all achieve profitability! Apologies, I digress. The full guide …

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