Weekend Digest for Financial Planners/Advisers & Paraplanners (12th & 13th Jan)


It’s been a very busy week for at FinalytiQ; our survey result which show the great value paraplanners add to a financial advisory firm was covered in NewModelAdviser (detailed result and slides here) and my article on D2C plaforms, originally posted on AdviserLounge appeared in ProfessionalAdviser; all that while making sure that the day job still get done!  While very pleased with all these, I’m delighted that the weekend is finally here.

So here’s the latest installment of Adviser Digest, with a summary of the interesting articles this week. Click on the title to read the full article(opens new window).                                                                                                                                                                                                              



Platforum’s IFA’s Guide to Platform Pricing Galaxy


This week, the platform consultancy firm Platforum published its first Platform Pricing Guide  and the best part of the news is , it’s FREE! (Well, maybe that’s not the best part. Surely someone is paying for it, but I’ll let you guess who?)

The Guide covers the pricing models of 22 major IFA platforms as well as their asset under administration (AUA) , how this has changed over the last 12 months and their AKG Ratings (where available) .


How NOT To Suck in Your Written Communication With Clients

In this video, US-based technology consultant for advisers Bill Winterberg speaks  to Neil Rhein of Bull’s Eye Financial Communications about how to create written content (Blog, Newsletters etc) that clients will find both interesting and engaging.

The core message is that is to have a strategy to communicate to your clients regularly,  keep message consistent and authentic .

  1. What, when and how are you going to write? If you don’t have the time or the inclination to do it, consider outsourcing.
  2. Commitment – Worse thing you can do is fall on the way side after a few posts. It’s better not to start at all.
  3. Focus on educating people, not selling to them
  4. Have a pipeline on content to talk about
  5. Don’t Expect immediate pay off


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Why Traditional Networks Are Abandoning Independent Advice

In this article, Tim Newman of IFA Network Sense talks about how the network model has shifted its focus from serving their member advisers to being a conduit for providers’ control over distribution.

‘These leviathans are finding it difficult to make the kind of returns that their provider shareholders demand and many are making significant losses. Stricken by increasing complaints from business written at a time when compliance standards were lower and hamstrung by inefficient business processes and expensive management teams, these large networks are now searching around for ways in which they can re-invent themselves for the post-RDR world’  Newman said.

One thing is clear, independent advice is no longer a priority for networks; providers are buying up places on restricted panels and many of them have taken advantage of the vertical integration rules to launch joint ventures to provide their own platforms and collective investment funds.

Newman observed that ‘the biggest long term flaw in their thinking is that none of the “new” initiatives have anything to do with improving the experience of their customers, i.e. advisers, or the outcomes for the people who invest in their products, i.e. consumers’



Actions, Not Resolutions


In his weekly blog on FTAdviser, Dennis Hall takes a look back at what worked last year and how to get better result in 2013. Rather than making new resolutions, which rarely last, Hall suggested it is far more productive to revisit existing plans business plan. 

  1. Focus – Don’t be all  things to all people. Focus on what you do best and who they are best suited to.
  2. Leverage: Spend more time working on the business, and find other talented people to work in the business. Remember, working on the business does not have to occur in the office, get out more.
  3. Network: You are in the people business (not the money business), so get better at networking and developing opportunities for referrals to grow.


I hope you have enjoyed this and hopefully it’ll make you job a little easier! As paraplanners, that’s what we do! As usual, thought and comments are welcome. Enjoy your weekend!











Abraham Okusanya
Abraham is the founder of FinalytiQ, a research consultancy for platforms, asset managers, and advisory firms. Recognised as one of the country’s leading experts in retirement income, platforms and investment propositions, Abraham has authored several papers on these subjects and delivered talks to the Personal Finance Society, The FCA and several conferences across the country.

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