Have you ever wondered what the future holds for advice businesses? What will a typical advice business look like in five or ten years’ time? Will a typical firm be smaller or bigger? Will financial advice move away from being a lifestyle business to more of a professional practice? And what is the role of paraplanners within a ‘model’ advice firm? How is the role of advisers changing?
A recent report by CWC Research in Association with Fidelity FundsNetwork attempts to answers these questions!
The report titled – No Small Change: Benchmarking the Adviser Business – was authored by Clive Waller. The report big on paraplanners and their roles within advice businesses.
In this podcast, I caught up with Clive to talk about the findings of the report and implications for advisers.
I believe that the role of an adviser as a rainmaker is more crucial than ever; and in fact, one of the core ideas that we share with the advisers we work with in our para-planning business is that they are rainmakers and as you will hear in this interview with Clive, ‘rainmakers should rain-make, they should make tea!’