Delegates listened to Mr Clarkson present strategic ideas for building and developing successful businesses despite the current threats IFAs face.
Mr Clarkson evoked an air of optimism as he indicated how advisers could overcome a number of regulatory issues. On the subject of compliance he said “This year we will be seeing changes to polarisation. The menu option will be introduced as a means of informing clients as to how they can pay for your services, therefore advisers need to begin work now on deciding how they will charge fees. Directly regulated firms can get help by outsourcing which will reduce outgoings as it is becoming increasingly difficult to provide these services individually.”
He outlined the core elements of building a strategic business and marketing plan and stressed the importance of determining what type of company you are, how to plan and achieve objectives, what sort of clients you are looking to work with and what advice you want to give.
In light of the current and impending regulations Mr Clarkson spoke of advisers working as specialists which he said: “demonstrates expertise to clients. Training advisers to AFPC and other specialist valuable qualifications will ensure you retain a competitive and professional edge.”
“Market conditions are not making our life easy, however, businesses will become tougher and more realistic and when the environment becomes more encouraging then they should prosper even more than they would have done.”
