No one will contest how incredibly difficult it is to scale a financial advice business. The conventional wisdom is that you need an army of advisers to achieve this; after all advisers are the ones who bring in the clients, deliver the financial plans and are pivotal to retaining the clients.
In this video, Colin Lawson, Founder and Managing Partner at Equilibrium Asset Management talks about how he’s structured the firm very differently than most in the industry and how this has enabled the firm to scale. The business has 3½ – yes Colin is the ½, around £400m assets under advice and a turnover in the £5m.
Colin’s structure is to have few ‘super-advisers’ who are supported by 3 to 5 paraplanners (or client service managers) who are responsible for not just research and reports but day-to-day relationship management, freeing up the advisers to focus on strategic delivery of advice.
Watch and enjoy!