View more on these topics

Practice Manager bids to benchmark advisers

Perception director Phil Billingham is setting up a benchmarking company called Practice Manager which aims to to help advisers position their businesses in terms of the treating customers fairly regime and qualifications.

The firm is a joint venture between Billingham, his business partner Shannon Currie and certified financial planner and South African academic Johann Maree.

Maree has created a database and benchmarking system which the joint venture will adapt to make it suitable for the UK financial adviser market.

It will be an internet-based tool that asks between 80 and 100 questions and produces a report of where the firm currently stands in relation to certain benchmarks.

Billingham cites Hargreaves Lansdown as an example of how to brand an adviser firm but he believes that although some companies have been successful in their efforts at practice management, Britain still lags behind other countries such as the US.

Billingham says: “It will produce a benchmarking of the adviser firm against treating customers fairly and also the standards of ISO22222. It will find out where you are and where you want to be. Once we have those points fixed, then we can give them a map of how to get from here to there.

“Advisers have been very strong historically at building relationships and giving advice. The retail distribution review has forced firms to look at what they are bad at and branding, market planning and succession planning are weak areas.”

Details, p12


Towry Law doubles funds in a year to 2bn

Towry Law doubled its funds under management last year, increasing from around 1bn in 2006 to just under 2bn.Turnover rose from 47.3m in 2006 to 51.3m last year while recurring income rose by 34 per cent to 28m from 20.9m. Earnings leapt by 43 per cent from 3.8m to 5.5m.Towry Law says its business is […]

Draw up a business plan

Business insurance is proving to be a focus for companies keen to diversify their product range.

Interest-only could be concern if markets tighten

Abbey says it will keep its interest-only mortgage book under close scrutiny in the coming months.Deputy chief risk officer Iain Laing told delegates that its interest-only book is performing well but the situation might worsen in an environment of falling house prices and tighter credit conditions.He said: “It is an area we have got under […]

Friends rebuffs 3.5bn Flowers’ bid

Friends Provident has rejected a 3.5bn offer from private equity group JC Flowers, saying it “significantly undervalues” the company.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm