In an extract from their book Get the Adviser Advantage: How to Survive and Thrive in the New World of Retail Financial Services, Informed Choice's Nick and Martin Bamford explain how to develop client-centric propositions.
It was claimed some time ago that people used to buy Black & Decker power tools not because they wanted a drill but because they wanted a hole. We can apply this to financial services. Clients do not want pension plans or Isas - hat they want is financial security and the resources to do whatever it is that they want in their lives. In other words what they want are solutions (holes) rather than products (drills). Advisers need to apply this same thought process to their client proposition. A client-centric proposition should be to appeal to those needs and wants and then back that up b...
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