Good tech, hiring the right team, and not taking on too many clients are the keys to starting a successful directly authorised advice business, according to one NextGen adviser who took the leap.
Wensons managing director Hiren Panchal said in all the excitement of going solo he took on "far too many" clients when he set up Wensons, just outside London, in 2015. Speaking to host Adam Carolan on the NextGen Planners podcast about being a new advice business owner, Panchal said: "As you are growing your business, you are literally taking every type of business on board because you are building that income stream, building assets under management, so you do not have to worry about your business costs or your monthly personal [finances]. "[I took on] far too many clients. But you...
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