What your firm can learn from Formula 1

clock •

Gary Thomson, head of business consultancy at AXA Wealth, examines what a thriving IFA business and a successful racing car team have in common.

In my work with adviser firms, my main objective is to help them achieve better outcomes for themselves, their clients and their businesses, and in that order. If the business owners’ objectives are being fulfilled, and the clients are receiving a service they value and are prepared to pay for, the business tends to be more successful. Usually, I look at the main drivers of value in an advice business and look for opportunities for improvement to help the business achieve better results. I was discussing this with a good friend of mine who, as well as running an engineering busines...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Celtic FP founder launches online admin platform for advisers

Celtic FP founder launches online admin platform for advisers

‘Developed by people who understand the industry’

Jenna Brown
clock 10 November 2026 • 2 min read
Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Budget BADR changes could drive flurry of advice M&A but unlikely to hit valuations

Firms urged not to rush sales

Isabel Baxter
clock 09 November 2026 • 4 min read
Verve Foundation launches financial planning career pathfinder

Verve Foundation launches financial planning career pathfinder

Free tool is for all candidates exploring roles and vacancies

Sophia Panayi
clock 09 November 2026 • 1 min read