Blackrock on making the transition from commission to fee-based

As you refine your business plans ahead of RDR, what better than to draw on the experience of advisers who have already made the transition from commission to a fee-based business. In this first module of five Best Practices topics, we provide insights on setting the business vision and team structure.

The work that goes into setting the business vision of a financial advice business can be just as crucial – if not more so – than how you actually manage the operation. Investing some time and energy into thinking about what the company stands for and where it is heading, even before you have taken on a new client, is vital.

Some of the most prominent advisers in the UK have achieved their success by putting in place long-term business plans that allowed them to focus on targets. More importantly, many of the advisers in this research have had a long think about whether they want to focus on being a business manager, a rainmaker or the client-facing figurehead of their business.

Through a series of in-depth interviews, our Best Practice Insights Report brings together valuable expert opinions, perspectives and experience along with practical examples to provide you with ideas and action plans to potentially improve your business.

For more insight from leading financial advisers about the keys to their success, look for the Best Practices Insights at our Adviser Centre.

NEXT WEEK’S TOPIC: Financials...