What's on my mind

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

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

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

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

10 mistakes not to make with pensions auto-enrolment

All employers have to provide a workplace pension for their eligible staff by 2018. This process is called ‘automatic enrolment’, and is often referred to as ‘auto-enrolment’. Avoiding the topic is not an option, so it’s important to be aware of what is required and by when. Otherwise, you may make

How to manage your advisers

Most people that run their own firms combine client work with the day-to-day management of it. Clients often have unexpected requirements and, as the lifeblood of the business, the natural thing to do is to give them priority. However, that may mean the management of your employees takes a back

Contracts matter: don’t take chances

Contracts are a part of commercial life. The main ones affecting intermediary firms are those with clients, employees – and in particular advisers, and also those made with third party suppliers, most commonly life companies, platforms and IT software companies. It’s a sad fact that some financial intermediaries spend minimal amounts

Don’t forget inducements

In January 2014 the FCA issued Finalised Guidance 14/1: Supervising retail investment advice: inducements and conflicts of interest. This explained their concerns and why certain practices are likely to create conflicts of interest and result in firms not acting in their customers’ best interests. They said we would consider further

All you need to know on selling your advice firm

The sale of an intermediary business is usually the single largest “capital event” for most owners. The old adage, “You don’t get a second chance to make a good first impression” is one to bear in mind from the outset. A number of actions and decisions make a successful sale more

Writing & Speaking

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