To remain available to your clients, you need to remain viable and profitable.
A compelling business vision, measurable goals, clear strategy and a plan to address necessary developments create momentum towards successful outcomes for your clients and team members alike.
So, from many angles, it makes great business sense to think through and document your approach to issues such as:
- the nature of your business model and the market(s) it seeks to serve
- client & investment propositions suitable for your chosen market place
- how you ensure your investment philosophy is executed and associated risks are controlled
- the basis for, and implementation of, your client segmentation strategy
- your wrap platform strategy – which ones, for what purpose etc.
- how your fee strategy meets the FCA's consistency, impartiality and no cross subsidy objectives
- your people development policies and practices