What's on my mind

Enabling your advisers to buy your business

Planning and training are key if you want your advisers to buy your business when the time comes to stand back. The past few years have seen an increase in the number of advice firm owners who, when the time comes, want to consider a sale to their employees as an
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10 steps to a solid strategic plan

A well-written, well-executed strategic plan is key to enhancing the value of an advice firm. It is easy to have thoughts, aims and aspirations but a significant challenge to translate them into a document your colleagues can buy into. Harder still to make them a reality. In many instances ideas remain just
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Adviser charging from the client’s perspective

Follow these five rules to get communication of this tricky issue right. I can hear you already: “Oh no, not another article on adviser charging…” But bear with me. Many advisers have (perhaps subconsciously) hitherto approached the matter from the perspective of what they are required to say based on regulatory
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How to get adviser remuneration right

Too many business owners base remuneration structures on assumptions, missing the chance to make them work better for all involved. Remuneration, which encompasses salaries, bonuses and other variable pay such as incentives, is usually the largest expense item for advice firms. Yet many directors spend relatively little time on the design and
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Ten steps to acquisition success

Integration is rarely easy but getting it right is key. There is a widely held view that the majority of acquisitions do not deliver long-term value to the acquirer. The Institute of Directors reckons this figure could be as high as 70 per cent, though it varies between market sectors. Here,
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Five steps to a successful risk management strategy

Risk management is an ongoing process, requiring the right documentation, commitment and resource. If you were to ask 10 advisers what risk management meant to them, you would likely get a wide variety of answers. Quite probably 10 different ones. I am often asked what constitutes a sensible risk strategy for an
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Ten key challenges for advice firm owners

Businesses that can address all 10 points are likely to be profitable and successful... I spend a lot of time with the owners of advice firms discussing the development of their businesses. In many instances, what holds them back is not their drive or ability but rather taking the time to articulate
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Meet the Adviser Champions: Video interview with Roderic

Advisers are relating to clients better than they ever have done as a result of the Retail Distribution Review, argues Roderic Rennison in our latest Adviser Champions interview. The Rennison Consulting director gives further credit to the regulator for the improvement in client-adviser relationships for encouraging advisers to do more research before
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Is working from home bad for business?

Working from home has been part of the employment structure in a number of firms for many years. For some people it is now a firmly established way of life. The impact can certainly be seen, at least where I commute into London. On Fridays, for example, the station car
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Writing & Speaking

To read the various articles and papers I've written in the recent past, please click here