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The keys to best practice

Life business development manager Andrew Lock says successful firms after the RDR will need a clear client value proposition and ensure they are not dependent on a key person.

He said: “The best practice firms have a clearly defined client value proposition to demonstrate to customers the value they get from their service. It must state who you are as an advisory firm, what you do, how you do it and how you charge for the advice.

“The second point is about independent income generation. We all know commission is about to disappear so firms must generate independent income str eams from clients. Typically, we see that happen as a firm adopts a new business model and, in particular, starts to use a wrap platform.”

Lock said firms must align stakeholders within the business to ensure all staff are motivated to achieve a common end goal and there cannot be a “keyman dependency” within any firm, regardless of size.

He added: “Risk management must be built into every process. Best practice firms embrace regulation and ensure it is woven into the fabric of the business.”


Transact calls for wider re-reg rules

Transact says the FSA’s plans to make platform-to-platform re-registration compulsory by the end of 2012 should be extended to cover all transfers of client assets between all types of financial firms.

Hilltop calls for clarity on hedged or absolute return

Fund of hedge funds firm Hilltop Fund Management says it is important for fund of hedge fund managers to tell investors whether they are producing hedged or absolute returns. Hedging is a way of managing risk by using an investment in one market or asset class to offset against moves in another. To do this, […]

India rate cut – more to come?

Kunal Desai, Head of Indian Equities at Neptune Investment Management India’s stockmarket rallied this week following news that the central bank was cutting interest rates more aggressively than expected. Commenting on the rate cuts and what this means for India’s economic growth, Kunal Desai notes that there were two important details in the announcement that have […]


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