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Leader: Cherry Reynard

Cherry Reynard, Consulting Editor, Adviser Evolution
Cherry Reynard, Consulting Editor, Adviser Evolution

As everyone knows, fail to plan and plan to fail but when contemplating transition, it can be easy to get caught up in the planning. At some point, it’s time to get your hands dirty. This month’s issue is all about doing just that.

For example, client segmentation is one thing but how do you sit in front of a non-profitable client and tell them that you can no longer work with them? This is particularly acute if it is someone with whom you have worked well for many years. Martin Bamford and Phil Billingham give their thoughts on page 8.

Equally, you may think that your clients like you and that you have a good relationship but are you brave enough to invite their feedback to test your assurance? Most people are non-confrontational and it is very easy to drift along thinking everything is fine….until they leave and you are left wondering why.

On page 9, Tessa Lee, operations director at Sammedia, talks about the group’s new online feedback tool. She points out that the true value in your proposition is what your clients tell you it is and guessing can be expensive. Being responsive to client feedback can bring real rewards.

In this month’s diary on pages 6 and 7, Georgina Partridge shows some of the pitfalls for those who have yet to get their hands dirty. In particular, she talks about the problems of implementing a new computer system. A lot of focus can be placed on selecting the right system and relatively little on who is going to do the boring task of inputting all the data and getting it up and running.

Martyn Laverick, marketing director of AWD Chase de Vere, certainly knows a thing or two about getting his hands dirty. He and the rest of the board at the group have presided over a seismic shift in the group’s business model. They have halved adviser numbers and are in the process of introducing a new proposition, complete with new computer system. It has been a mammoth task and is still not fully complete. Laverick reflects on his experiences on pages 12 and 13.

As 2013 looms, the time for action has begun.

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