If you are involved in the Financial Services industry, perhaps a busy IFA (Independent Financial Adviser), you will have your sleeves rolled up preparing for RDR (Retail Distribution Review). Perhaps you are set already or possibly one of the rather too many who have yet to effectively respond to the FSA's calls to change.
We have been working with Greycoat Financial Services who, like many, have taken RDR by the horns and used it as a positive marketing opportunity.
It has been an excuse to use someone like me to sit across the desk and totally re-evaluate the business.
What is it?
What could it be?
And how do we move it from here to there?
Whether you are several in partnership operating joint and severally, or whether you are one or two independents fighting the business prevention hurdle of Compliance and the FSA (Financial Services Authority), there is still an awful lot you can achieve to face 2013 with ambition and drive. Long sentence, sorry.
Fortunately, thanks to organisations like Tax Briefs and Three Sixty workshops – there’s a lot of material out there to help you write your own RDR changed business and service propositions.
Whichever route you choose to take, please ‘say it with an S not a Zeeeeeee'.
Too much ‘off the shelf’ solution and text is available to cut and paste where the language is over-Americanized. Some comes from across the pond, but much is simply written by folks relying on MS Word spell-check … set to English (USA) rather than (UK).
RDR is providing the British consumer with a more professional, fee-based Financial Services market. The gloves are off. Commissions have gone. Competition is endemic.
Now is the opportunity to review what you say and how you say it.
Personalise your proposition and lift your game.
Your clients now have to pay up front for advice, pensions, investments, retirement planning, estate planning etc etc. As discussed in Money Box a couple of weeks ago, consumers are used to paying fees for legal and accounting advice and service, so may not be too averse to paying for financial advice – as long as it lives up to its heightened status of ‘professional’.
If promotional materials presenting your corporate proposition looks and says the same as 70% of your neighbouring IFAs, then competition will simply come down to price. Build individuality and substance into your image and you’ll stand out - justifiably professional.
It’s time to lift your game.
Greycoat have their core services and procedures re-structured and presentational / fulfilment materials written ready to go. The database has been re-structured to support the new service levels and client status. And we are putting the finishing touches to investment services, service pricing and product / value segmentation.
Clarity, vision, creative support from ASPIRUS and not one single Zeee.
Plain English, plain speaking, pure correspondence. Words that work.
07500 896 783