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Whatrsquos in it for them
What‟s in it for them
Working with the Financial Planning profession
A presentation by Basi amp Basi Financial Planning
Whatrsquos in it for them
Who are we
bull A Flying History
ndash 1994 Ady Basi qualifies as Investment Adviser
ndash 2001 Ady Basi creates IFA Stop Limited
ndash 2002 Michael Basi graduates and joins FCE Bank plc
ndash 2006 Michael Basi rejoins family firm
ndash 2010 Nicholas Basi graduates and joins family firm
bull Capacity
ndash Three advisers and one trainee
ndash Administration Staff
bull Focus on personal service to a few clients and their families
Whatrsquos in it for them
Managing Wealth Our Key Skill
bull Wide ranging term ndash what does it mean
1 Ensuring a client‟s financial assets support their life plans
2 Aiming to make investments work hard
3 Working to minimise tax due
4 Protecting succession planning
bull Focus 1 Asset Allocation
ndash Split according to true level of risk client wants to take
bull Focus 2 Fund Selection
ndash Using strategically designed mathematical analysis monitored daily
bull Focus 3 Tax strategies
ndash Don‟t let the tax-tail wag the investment dog
Whatrsquos in it for them
Invested is Invested Balanced is Balanced
The above are net figures and do not take into account any advice fees These begin at 3 of the initial amount and 10 for on-going
service which can be varied to suit the needs of the client accordingly
THE FIGURES REFER TO PAST PERFORMANCE PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS
The performance data quoted represents past performance and does not guarantee future results The investment return and principle value
of an investment will fluctuate thus an investorrsquos shares when redeemed may be worth more or less than their original cost Current
performance may be lower or higher than return data quoted herein For information current to the most recent month-end please visit
httpadvisormorningstarcomfamilyinfoasp
Whatrsquos in it for them
Lies Damned Lie and Statistics
bull Our view is that prior growth proves a theory service defines execution
bull Again we focus on client service
ndash Unique Fee-based remuneration model
ndash Disperses income over years of voluntary retention by client
ndash Linked to their investment performance they win we win
bull Client can select service level
ndash Bronze
ndash Silver
ndash Gold
ndash Platinum
Personal adviser access for all clients (Platinum 18 hours per day)
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Who are we
bull A Flying History
ndash 1994 Ady Basi qualifies as Investment Adviser
ndash 2001 Ady Basi creates IFA Stop Limited
ndash 2002 Michael Basi graduates and joins FCE Bank plc
ndash 2006 Michael Basi rejoins family firm
ndash 2010 Nicholas Basi graduates and joins family firm
bull Capacity
ndash Three advisers and one trainee
ndash Administration Staff
bull Focus on personal service to a few clients and their families
Whatrsquos in it for them
Managing Wealth Our Key Skill
bull Wide ranging term ndash what does it mean
1 Ensuring a client‟s financial assets support their life plans
2 Aiming to make investments work hard
3 Working to minimise tax due
4 Protecting succession planning
bull Focus 1 Asset Allocation
ndash Split according to true level of risk client wants to take
bull Focus 2 Fund Selection
ndash Using strategically designed mathematical analysis monitored daily
bull Focus 3 Tax strategies
ndash Don‟t let the tax-tail wag the investment dog
Whatrsquos in it for them
Invested is Invested Balanced is Balanced
The above are net figures and do not take into account any advice fees These begin at 3 of the initial amount and 10 for on-going
service which can be varied to suit the needs of the client accordingly
THE FIGURES REFER TO PAST PERFORMANCE PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS
The performance data quoted represents past performance and does not guarantee future results The investment return and principle value
of an investment will fluctuate thus an investorrsquos shares when redeemed may be worth more or less than their original cost Current
performance may be lower or higher than return data quoted herein For information current to the most recent month-end please visit
httpadvisormorningstarcomfamilyinfoasp
Whatrsquos in it for them
Lies Damned Lie and Statistics
bull Our view is that prior growth proves a theory service defines execution
bull Again we focus on client service
ndash Unique Fee-based remuneration model
ndash Disperses income over years of voluntary retention by client
ndash Linked to their investment performance they win we win
bull Client can select service level
ndash Bronze
ndash Silver
ndash Gold
ndash Platinum
Personal adviser access for all clients (Platinum 18 hours per day)
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Managing Wealth Our Key Skill
bull Wide ranging term ndash what does it mean
1 Ensuring a client‟s financial assets support their life plans
2 Aiming to make investments work hard
3 Working to minimise tax due
4 Protecting succession planning
bull Focus 1 Asset Allocation
ndash Split according to true level of risk client wants to take
bull Focus 2 Fund Selection
ndash Using strategically designed mathematical analysis monitored daily
bull Focus 3 Tax strategies
ndash Don‟t let the tax-tail wag the investment dog
Whatrsquos in it for them
Invested is Invested Balanced is Balanced
The above are net figures and do not take into account any advice fees These begin at 3 of the initial amount and 10 for on-going
service which can be varied to suit the needs of the client accordingly
THE FIGURES REFER TO PAST PERFORMANCE PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS
The performance data quoted represents past performance and does not guarantee future results The investment return and principle value
of an investment will fluctuate thus an investorrsquos shares when redeemed may be worth more or less than their original cost Current
performance may be lower or higher than return data quoted herein For information current to the most recent month-end please visit
httpadvisormorningstarcomfamilyinfoasp
Whatrsquos in it for them
Lies Damned Lie and Statistics
bull Our view is that prior growth proves a theory service defines execution
bull Again we focus on client service
ndash Unique Fee-based remuneration model
ndash Disperses income over years of voluntary retention by client
ndash Linked to their investment performance they win we win
bull Client can select service level
ndash Bronze
ndash Silver
ndash Gold
ndash Platinum
Personal adviser access for all clients (Platinum 18 hours per day)
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Invested is Invested Balanced is Balanced
The above are net figures and do not take into account any advice fees These begin at 3 of the initial amount and 10 for on-going
service which can be varied to suit the needs of the client accordingly
THE FIGURES REFER TO PAST PERFORMANCE PAST PERFORMANCE IS NOT A RELIABLE INDICATOR OF FUTURE RESULTS
The performance data quoted represents past performance and does not guarantee future results The investment return and principle value
of an investment will fluctuate thus an investorrsquos shares when redeemed may be worth more or less than their original cost Current
performance may be lower or higher than return data quoted herein For information current to the most recent month-end please visit
httpadvisormorningstarcomfamilyinfoasp
Whatrsquos in it for them
Lies Damned Lie and Statistics
bull Our view is that prior growth proves a theory service defines execution
bull Again we focus on client service
ndash Unique Fee-based remuneration model
ndash Disperses income over years of voluntary retention by client
ndash Linked to their investment performance they win we win
bull Client can select service level
ndash Bronze
ndash Silver
ndash Gold
ndash Platinum
Personal adviser access for all clients (Platinum 18 hours per day)
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Lies Damned Lie and Statistics
bull Our view is that prior growth proves a theory service defines execution
bull Again we focus on client service
ndash Unique Fee-based remuneration model
ndash Disperses income over years of voluntary retention by client
ndash Linked to their investment performance they win we win
bull Client can select service level
ndash Bronze
ndash Silver
ndash Gold
ndash Platinum
Personal adviser access for all clients (Platinum 18 hours per day)
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
We are Independent - what does it mean
1986
Financial Services Act polarises of financial advice
2005
Financial Services Authority allows depolarisation to increase high-street choice
201213
Retail Distribution Review recategorises bdquoretail investment advisers‟
Independent Tied
Independent Tied Multi-Tied
Independent Restricted
must offer a fee option to be called independent ndash otherwise called lsquowhole of marketrsquo
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Retail Distribution Review ndash your 10-second guide
bull Launched by the Financial Services Authority in 2006
bull Aims to improve and modernise how investments are distributed to retail
consumers in the UK
bull Three main goals
1 Improve the clarity with which advisory firms describe their services to
consumers
2 Address the potential for adviser remuneration to distort consumer outcomes
3 Increase the professional standards of investment advisers
bull Firms must be compliant from end of 2012
For source information see wwwfsagovukpagesAboutWhatRDR
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
0
1000
2000
3000
4000
Jun- 05 Jun- 06 Jun- 07 Jun- 08 Jun- 09 Jun- 10
Change is goodeventuallyldquoWhat does not destroy me makes me strong [Or What doesnt kill you makes you stronger]rdquo -
Friedrich Nietzsche
Independent Financial Advisers understand the headwinds facing the legal
profession
June 2006
Launch of the Retail
Distribution Review
November 2007
Implementation of the EU‟s
Market in Financial
Instruments Directive (MiFID)December 2008
All retail financial services firms
required to demonstrate Treating
Customers Fairly principles
January 2013
Investment firms must be
fully compliant with
RDR policyDecember 2005
FSA proposes principle-
based regulation
April 2009
EC announces plans
to improve investor
protection for packaged
retail investment
products (PRIPs)
December 2013
Minimum capital
adequacy requirement
for personal investment
firms raised to pound20000
The graph above shows non-accurate 5 year FTSE 100 performance with accurately dated regulation changes This graph is purely for
information only and no indication regarding FTSE 100 or investment past present or future performance should be taken from this This
is purely for time-line purposes to indicate regulatory changes
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
What will it require to be an Independent Financial Adviser post-RDR (Retail
Distribution Review)
bull From January 2013 an bdquoIndependent Financial Adviser‟ must
ndash hold qualifications at a minimum level of QCF Level 4
ndash conduct a fair and comprehensive analysis of the relevant market
when making product recommendations
ndash have sufficient knowledge of all types of bdquoretail investment product‟ that could
give a suitable outcome for a client
ndash select products in line with the bdquoclient‟s best interests‟ rule (COB 211)
ndash NOT accept commission from product providers
ndash operate a product-neutral pricing structure
ndash establish customer agreed remuneration
bull Basi amp Basi Financial Planning Ltd is set to be in place long after 2013
Qualifications and Credit Framework
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Maintaining your client relationship Harnessing the full client lifecycleThe graph below shows an example of life cycle of an individual in the UK and the potential opportunities for Independent Financial Advisors
and Solicitors As you can see throughout the life cycle there is continuous overlap between the services we the Independent Financial Advisor
and you the Solicitor can provide to a client at differing life stages and events
Independent Financial AdviserBasi amp Basi Financial Planning activities shown in white solicitorYour activities shown in orange
Clie
nt a
sse
t va
lue
Client age20 30 40 50 60 70 80
Buy first
houseGet
married
Have
family
Move
house
Change
jobs
Receive
inheritance
RETIRE
Family
cover
School fees
planning
Mortgage
repayment advice
Conveyancing
Annual Individual
Savings Account
purchase
Inheritance Tax amp
estate
planning
Review trusts
Spousal
tax-planning
Write Wills
Lump sum
investment
Pension
maximisationcons
olidation
Annual
portfolio
review
Pension
de-riskingIncome
drawdown
Arrange SIPP Annuity purchaseRegular
savings
pension
Set up children‟s
investments amp Child
Trust Funds
Review Wills
Set up trusts
Refinance
Conveyancing
Probate
Review Wills
Review trusts
Long-term care
Equity release
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual Individual
Savings Account
purchase
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Annual
portfolio
review
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
1 Trust amp estate planning
Will writing
Trust creation
amp administration
Probate
Estate disputes
Portfolio construction
Balancing interests
Inheritance
tax planning
Ethical investing
(eg for charities)Remember
The Trustee Act 2000
obliges trustees to review
any investments made
with trust money on a
regular basis and to
obtain proper investment
advice
bull NB Where acting as trustees solicitors should not refer trust work to
businesses in which they have an interest
Independent
Financial
Advisers
Solicitor
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
2 Medium to High-net worth clients
Trusts amp asset
protection
Estate management
Pre-nuptial agreements
Corporate asset
structuring
Wealth management
Alternative investing
School fees planning
Tax-efficient planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
3 Elder care planning
Power of Attorney
Trusts
Will-writing
Equity release guidance
Long-term care insurance
Equity release
product selection
Impaired annuities
Income solutions Remember
Only financial advisers
that hold the CF8 Long-
term Care Insurance
qualification can advise on
long-term care productsIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
4 Personal injury and divorce settlements
Litigation
Claims settlement
Award assessment
Trust creation amp
administration
Lifetime income planning
Tax planning
Family financial planning
Pension planning
Insurance
Independent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
5 Corporate amp employer services
Employment law
Corporate structure
Clientsupplier contracts
Intellectual property
Sellinginsolvency
Employer amp group
pensions
Employee benefits amp
share schemes
Workplacedirector
financial planning
Insurance
Remember
From 2012 employers will
be required to enrol all
eligible employees into a
qualifying workplace-based
pension schemeIndependent
Financial
Advisers
Solicitor
Where do Solicitor Independent Financial Advisers synergies lie
Synergies could lie at any point where legal advice meets financial advice Such as
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Using knowledge of our clients to build and enhance our businesses
bull Supports firms aims to both meet regulatory compliance requirements and build better businesses
bull Requires client information to be shared across the business and not kept to one adviserpartner
bull Technology essential to ensure data is up-to-date and easy to interrogate
1 Client
Fact Find
Deep-dive knowledge of
every client
2 Sales Management
Information
A real-time picture of a
business
3 Client
segmentation
Build a business around
genuine client needs
Client Fact Find
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
1 The Client Fact Find ndash a powerstore of information
Independent Financial Advisers are required to take reasonable steps to ensure that a recommendation is
suitable for a client Before making recommendations or managing investments an advisory firm must
demonstrate that they ldquoknow their clientrdquo by obtaining and documenting the necessary information regarding
bull Clientrsquos financial situation ndash including
- source and extent of regular income
- regular financial commitments
- assets including liquid assets investments and property
bull Clientrsquos investment objectives ndash including
- length of time for investment
- preferences for risk-taking
- risk profile
- purpose of the investment
bull Clientrsquos relevant knowledge and experience ndash including
- familiarity with relevant services transactions and investments
- nature volume and frequency of transactions
- level of education and profession
Taken from FSA Conduct of Business Sourcebook Section 92
Client Fact Find
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
1 The Client Fact Find - maximising the advice opportunity
Client Fact Find
Client assets
Are these all properly
balanced with a
cohesive strategy
Dependants and spouses
Are all personal and
investment allowances
maximised across the whole
family
Pension arrangements
Are all these optimised in
terms of
performance charging
structure and ease of
management
Risk profile
Is the current portfolio
aligned with the client‟s
stated risk profile and
preferences
Time horizons
Are investment strategies
appropriate to the time left
available for investment
(ongoing review)
Turning a regulatory requirement into a commercial and client advantage
Financial commitments
Are assets and liabilities
being offset as efficiently as
possible
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
1 The Client Fact Find ndash using it to target solicitor issues
Client Fact Find
Estates
Are there any assets to be
passed onto a dependant family
member How are these
currently protected
Wills
Have wills been written
by the individual and their
partner and are these up-to-
date (eg post-divorce or
birth)
With client approval Independent Financial Advisers can share fact finds with solicitors thereby
providing them with regular and comprehensive client information
Elder care
Does the individual have any
obligation to any older relatives ndash
how are their future needs
managed
Transactions
Does the individual face any
imminent property business
or commercial transactions
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
2 Management Information (MI)
bull Level of client activity ndash including most recent transactions
bull Client activity by adviserofficewhole business
bull Clients with unused ISA and pension allowances
bull Investment asset allocation by clientadviserwhole business
bull Assets held per provider providerinvestment groupproduct
bull Gross and net asset inflowsoutflows
bull Monthlyquarterlyannual revenues by clientadviseroffice
bull Client bank by ageAUAprofessional profile
bull Transfer activity fromto other advisersproviders
bull Length of client retention
Assets under advice
Assess individual
adviser performance
Leverage client data
across the whole
business
Be alerted to sudden
outflows of business
Identify potential
risks (eg high client
exposure to high
risk assets)
Independent Financial Advisers use software and investment-platform tools to maintain a real-time picture of
Track profitability by
client adviseroffice
0
10
20
30
40
50
60
70
80
Pensions ISAs Bonds Cash Funds Other
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
3 Client segmentation ndash aiming to improve profitability anticipate future
business direction and give clients what they need
Use the client fact find and
business Management
Information to segment amp
cross-segment clients by
Age
Asset levelprofitability
Transaction frequency
objectivekey concern
Financial behaviour
portfolio complexity
Professional profile
1 Anticipate future needs across the
whole client bank accurately and
position business accordingly
2 Increase retention potential of high-
qualityhigh-value clients and increase
referral of new ones
3 Deploy resources efficiently to each
area of financial planning and each
client type
4 Identify and build key areas of expertise
to build clear proposition culture and
brand
5 Ensure each client pays fairly for the
service they require (ie no cross-
subsidies)
Which in turn allows us to
Anticipate client needs
by life stage
Identify current and future
high net worth clients
Differentiate advice services
marketing
communications
by individual client needs
This enables us to
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Segmentation in action
For example client profiling may tell us
that
30 of our clients are professionals in their
30s-50s with fast-accumulating portfolios
10 of our clients are annual ISA buyers
with few other assets with us
40 of our clients are over 60 with
portfolios of pound400000+
Our key client segments are
1 Young accumulators
- Provide tax-efficient growth focused
strategies
- Keep up to date with new investment
opportunities and ideas
- Focus on online servicing
- Address life-stage financial planning
2 High-net-worth retirees
- High touch relationship with focus on
regular face-to-face contact
- Focus on tax and estate-planning
- Income and risk-averse strategies
- Strong potential for client referral ndash
including from family members
3 Transactional investors
- Focus on efficient but low-cost servicing
- Email with investment ideas and stock
market commentary
- Invite for portfolio review and assess
consolidation potentialNB This information is for illustrative purposes only
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
Other potential joint activities
Client newsletters
bull Budget updates
bull End of tax year ISA and
pension reminders
bull Stock market reviews amp
model portfolios
bull Personalised portfolio
reports and valuations
Client amp prospect seminars
bull Planning for a secure
retirement
bull Managing a divorce
bull Funding old-age care
bull Passing on your estate
bull Asset protection (High Net
worth Individuals)
Workplace
advice
bull Getting the most from your
pension
bull Employee share schemes
bull Life-after-work planning
bull Wealth management for
directors
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Whatrsquos in it for them
What‟s in it for you
Together our aim would be to
1 Reinforce long-term high-value high quality client relationships
2 Attract more clients within preferred market segment(s)
3 Improve levels of client referral
4 Increase levels of business from existing clients
5 Maximise efficiency and profitability
6 Build a holistic advice proposition
Transform threats to the legal sector into opportunities - The forthcoming changes are a
welcome reminder of the need to change in a positive manner
Call us on 01277 500053 or email us at advicebasiandbasicouk to discuss the points raised in this slide show further Thank you
Recommended