In conversation with advisers: Where should the initial focus be - costs and client planning?

In the first video of the series (see above), Flora Maudsley-Barton and Kerry Nelson talk to Julian Marr, Editor of Professional Adviser about their passion for financial planning and what to focus on when a client walks through that ‘proverbial door.'

Kerry Nelson says: "One of the things you need to look at is whether the proposition is scalable, as your client bank builds up, and their own finances build, you want a proposition that moves with them as well."

In-house or outsourced?

Nelson believes it is almost impossible to do everything for the client in-house, a point she reached several years ago: "I had a realisation that I couldn't do everything on my own, as something would ‘give.' It also doesn't help you as a business and the client at the end of the day, because it puts them at risk if something happens to you."

Maudsley-Barton is open about the idea of outsourcing, as a means of helping the client further [as part of their investment solution]: "We start with what is going to be the easiest way to help the client - if it is an outsourced single-fund solution and we can get that for the client at a low cost, so that is an option for the client."

Ultimately, Nelson thinks it is important to ‘keep things quite straightforward for yourself.'

Nelson says: "I am very passionate about investment, but there are only so many hours in the day… going forward, it is important to have a clear strategy: how it's going to work for you and your client's business, before you start that proposition."

 

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