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adviser evolution: Leader

Cherry Reynard Consulting Editor, Adviser Evolution

By now, the majority of advisers are well aware of the benefits of transition. Quite aside from RDR compliance, re-engineering your business offers the chance to work more profitably and to create a more sustainable business.

The evangelists – those who are out the other side – will tell you that it’s easy. Define your service proposition here, slash a few clients there, pick your wrap platform and away you go. But many advisers have found defining their service proposition does not come easily and without that it is almost impossible to undertake any sort of client segmentation exercise or decide the right investment and technology solutions.

Equally, many advisers are trying to re-engineer their businesses at the same time as studying for exams to ensure that they meet the qualifications criteria. So not only are they supposed to be putting high quality creative thought into how their business will look in the future, they are also knee-deep in text books. Oh and there’s the small matter of running a business and servicing clients.

The financial services industry does not usually lend itself to Chinese philosophy but in this case Lao-tzu’s mantra of the journey of 1,000 miles beginning with a single step seems appropriate. Adviser Evolution aims to make the process of transition less daunting. There are small incremental steps that every adviser business can take to make transition a reality.

Advisers now have a wide variety of support – from the networks, nationals and service providers, from the asset management companies and from the trade associations. The challenge for advisers is likely to be finding the most appropriate help.

In our first issue of Adviser Evolution, we talk to advisers about what they’ve learnt from their experiences of transition so far. We talk to some of the networks, nationals and providers to see how they are helping advisers. We also look at how other advisers are tackling examination issues and provide some tips.

We would like to thank the firms below for supporting this publication and demonstrating their support for the continuation of a strong and vibrant IFA sector. We welcome your feedback and experiences of transition. Please contact us at


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