IFA firms needs to behave like other businesses and put profitability ahead of turnover, according to Helm Godfrey managing director Bruce Wilson.
Many companies in the IFA sector are ‘extremely bad’ at focusing on profits but it is the only way for them to develop and prosper in the long term, Wilson believes. In a podcast on the Nucleus website, Wilson discusses the importance of profitability in the IFA sector and the long-term benefits it can bring to individual businesses and their clients. He says only by concentrating on profitability will IFA firms be able to take total control of their own destinies by “cutting the strings that have historically tied them to large product providers and reaffirming their credentials as tr...
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