Advice firms with 'deep pockets' can expect to prosper

Managing director Tim Sargisson has warned firms not to shy away from spending money, particularly as it could assist in scaling their business and build efficiency. "Firms with deep pockets can build an efficient business which requires technology, good systems, and processes," Sargisson told Professional Adviser. "These things are not cheap." Sargisson, who was recently appointed to Schroders-owned Benchmark, said Schroders has a "real commitment" to good client outcomes and provides support to everyone in the business. "The only way that firms can build a business at scale is to...