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

Advisory businesses must 'step up' to attract and retain new blood

Advisory businesses must 'step up' to attract and retain new blood

Clearer pathway to profession needed

Jenna Brown
clock 04 February 2026 • 3 min read
Advice buy-side models have 'clear conflict of interest'

Advice buy-side models have 'clear conflict of interest'

SBG’s Cherrington on common pitfalls and a valuations ‘peak’

Isabel Baxter
clock 04 February 2026 • 5 min read
One in five consider financial advice to deal with turbulent times

One in five consider financial advice to deal with turbulent times

Almost a fifth of people are newly considering getting financial advice to help them feel more confident amid a less predictable, more uncertain world, according to research.

clock 03 February 2026 • 3 min read