Holly Black

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Is mentoring the way forward for advisers?

Succession planning and staff retention among benefits on offer to firms taking time to mentor Between client meetings, office administration and keeping up with professional development requirements, it can often seem as though there are not enough hours in an adviser’s day to get everything done. Many IFAs might then wonder where they would ever […]

How to give advice that clients will actually follow

Giving financial advice is second nature to IFAs, but making it stick can be trickier. Some clients might leave their meeting with the best of intentions but find that the objectives they set with their adviser start to slip down their list of priorities. Others may find their annual review comes around quicker than they […]

support service providers
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Are networks facing a challenge from support service providers?

Questions are being raised over the value advisers get for network fees as support service providers, traditionally limited to offering compliance services, continue to expand their offerings. While taking on appointed representative status at a network can cost advisers a greater percentage of turnover, networks have modernised in recent years, with some offering access to […]

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Can platforms keep up with product governance rules?

New regulations are causing confusion over which parts of the advice chain are responsible for checking products are appropriate for particular clients. The Product Intervention and Product Governance Sourcebook, or Prod, is part of the FCA’s Handbook and concerns the manufacture and distribution of financial products and services. The rulebook was introduced under Mifid II […]

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DB transfer review paints networks in positive light

At least three networks have received 100 per cent suitability ratings from the FCA for the defined benefit pension transfers they have carried out, Money Marketing understands. As reports of poor practice focus on small regional advice firms, the figures suggest many larger networks have developed robust systems for conducting DB transfers. Money Marketing understands […]

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How to run a mid-sized advice firm

The world is a challenging place for a traditional one-man (or -woman) band Increased regulation and rising costs are leading to a growing number of mid-sized adviser firms. Sole trader and two-handed businesses are becoming rarer as changing rules and client demands present a greater challenge for smaller firms. Between compliance, technology and the implementation […]

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How should advice firms pay their staff?

Advice firms are continuing to review how they reward top IFAs after incentive schemes at large firms have come under question. Adviser remuneration has long been a contentious issue. Should staff be paid a flat salary, should it be linked to income generated or time spent with the firm, or should it be tied to metrics […]

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Pru downplays impact of D2C plans on adviser relationships

Prudential has denied a proposed direct-to-consumer PruFunds proposition would damage the relationships it has with advisers. M&G Prudential chief executive John Foley says offering the PruFund range direct to customers would open up new channels for the business. Pru said it would be establishing a direct-to-consumer platform as part of the £250m investment into customer […]