I never knew MM was a comic paper. How I laughed at the idea of a product provider dismissing IFA management and systems as a joke.
From my perspective, this description fits most product providers that knock on my door. Essentially, IFAs are a cottage industry and the last time we saw huge organisations such as Scottish Widows devour a similar industry was buying estate agents.
Apart from the banks, few if any of those purchases paid off. If the banks made the estate agency profitable, it was only through squandering squillions of shareholders' cash.
I suspect though that they are treated as a lossleader to sell all the quaint and expensive products the banks foist on their customers. Where is Scottish Widows? A subsid-iary of one of those banks.
If we IFAs remember that as long as we provide a personal service where the customer is always treated with respect and courtesy and always given the impression that no task is too difficult for us to undertake on their behalf, we will be taking not 60 per cent of all business but 70 per cent. Then who will have the last laugh?
Boyd & Associates