View more on these topics

Put your clients first to succeed

I can&#39t help despairing over product providers, networks, and some IFAs as to whether they will ever learn the most important lesson of running a business – look after your clients and they will look after you.

IFAs are continually criticised for poor advice but I suspect that this normally only tends to happen when the adviser forgets to look after the client and puts his or her own well-being first.

Product providers are the most guilty in my opinion. Some examples are the advertising of in vogue funds that have arguably reached their sell-by date, the dropping of products and services, in most cases without warning, mortgage companies which charge prospective new clients reduced rates of interest while inflicting higher rates on its existing customers, and so on…

The combination of short, medium and long-term planning is the key to a successful business, as it is to a satisfied client.

It is important to make a profit, but if the emphasis is on how much profit, then the focus is taken away from the client to oneself.

Put your clients first and you will succeed. It might just take a little longer but it will be sustainable. I see very little evidence of that principle in our industry or in the world at large at the moment, it is all now, now, now.

Jeremy Newbegin

Director,

The Ethical Partnership,

Chandlers Ford,

Hampshire

Recommended

A run for their money

Bitter acrimony surrounds events chronicled in last week&#39s Diary page, in which Ben “Biffer” Yearsley of Hargreaves Lansdown mocked colleague Tom “Flailing” McPhail for finishing behind him in the Bristol half-marathon.Always a man to take defeat square on the chin, McPhail decided to contact the Diary this week to suggest that, as his pregnant girl-friend […]

Reshuffle at Insight

Insight Investment Management has finished its restructuring programme after the acquisition of Rothschild Asset Management.The changes coincide with the departure of chief investment officer Michael Deakin who is retiring from Insight after 30 years with HBOS. Abdallah Nauphal will replace him and Alan Denholm has been appointed deputy chief investment officer.Nauphal will remain managing director […]

Universal Building Society – Offset Mortgage Account

Type: Offset tracker mortgage Tracker term: Life of loan Tracker rate: 0.5% above Bank of England base rate Minimum loan: £20,000 Maximum loan: Up to 85% loan to valuation subject to a maximum of £350,000 Income multiples: Up to 3 times principal income plus second or 2.5 times joint Redemption fee: None Arrangement fee: £60 […]

New manager for ISIS Pacific Growth Fund

ISIS Asset Management have appointed Mark Williams as the lead manager on its Pacific Growth Fund.The fund is the company&#39s retail Asia ex Japan OEIC sub-fund and was enlarged in August through the integration of four existing retail funds FP Pacific Basin, FP Asian Equity, ISIS Pacific Growth and ISIS Far East.Williams&#39 appointment follows the […]

The investment clock

While Trump blazes blond in the political foreground, it’s easy to overlook the economic background to the new political dimension of 2017. Political risk will be a feature of the year: the unpredictable and untested Trump administration has already created uncertainty, which is unlikely to diminish, especially if protectionist rhetoric starts to outweigh promises of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment