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David Shelton/Tip of the week: Achieving consistency


As we implement post-RDR policies the need to offer a well-defined service proposition is paramount. These tips will help secure the consistency of delivery that is necessary:

  • Use a standard factfind form to ensure everyone collects the data required to manage the client relationship and ensure the business provides comprehensive, compliant advice
  • Ensure you have clear processes and disciplines in the back office to ensure all relevant data is keyed into back-office software
  • Produce and ensure all advisers use a standard letter or “service agreement” that explains what service the client will receive and how they will be charged
  • Provide guidelines on charging for initial work and ongoing service
  • Set out minimum service standards so all active clients are reviewed at least annually
  • Make sure you have a foolproof process for producing review lists on a regular (monthly) basis and system for monitoring the action taken by the advisers

It’s a lot of work, but it reduces business risk and should provide a more cohesive outcome for clients.

David Shelton is the author of The Business of Advice book and website 



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