My suspicions about the fate of the company that supplies our CRM system have been confirmed after a quick read of their last accounts (for the bargain price of £1 from the Companies House website).
Any business that has a turnover of less than five grand a year but runs an operating loss of over quarter of a million isn’t going to be viable in the long-term. In fact, this company’s situation sounds scarily similar to the business model adopted by some of the large IFA firms that are, fortunately, no longer with us. Still, one positive point is that the data we have uploaded can be easily downloaded so at least we have maintained the integrity of that data. It’s a pity really because it was a very good system and we had already put it to much more practical use than anything we had be...
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