Reviewing the business model
If you are reviewing restricted status, this model can be helpful when considering the relative importance of products, particularly those regarded as higher risk. This will give you a framework for the debate because, in some cases, you may have access to clients for whom these products are important, which could contribute to a high market attractiveness rating.
The issues around business strength would be very important in terms of compliance and regulatory requirements, as well as the technical understanding of such products, and for which clients it is appropriate to consider them.
You should use this model as part of your work for finalising your proposition, service schedule and where your business is positioned in the market. It should support what you are offering to your target clients and help determine your approach to independent or restricted status or, if you are using a panel, the high-level structure you adopt.
David Shelton is an independent consultant at Stoke Bishop Associates