How We Help
The financial services market place is continually evolving and becoming an increasingly challenging and competitive workplace. The Adviser Support Hub has been established with the simple aim of providing a ‘complete business support solution’ for the IFA. Our business allows the IFA to focus on spending more time with clients and ultimately increase their income.
Today's IFA is met with many obstacles in the way of survival:
> Regulation & Compliance
> Adequate human resources
> Technological support and research services
> In short – paperwork
Every year brings tougher challenges for the IFA with increased demand for higher compliance levels in line with FCA requirements. The typical IFA is being weighed down with administration. This has resulted in many IFA firms simply not having the resources, nor the time to ensure that their business is both efficient and compliant – without this their livelihood is doomed. Only the big firms can survive.
Furthermore the FCA introduced ‘RDR’ (Retail Distribution Review) in 2012, meaning that the IFA needs to gain increased minimum qualification levels to continue in business. ‘RDR’ brought stiffer regulation adding further strain to the IFA. There were also added costs brought in by the FCA having increased their fees and levies.
The continued shift towards the IFA having to meet a ‘higher overall standard’ means that now more than ever, they require an efficient support system in place – this is where we feel we can help. Those IFAs that survive will need to streamline services and we believe one way of doing this is to outsource certain functions.
We believe that we are uniquely positioned to be able to free up the IFA’s time in a cost-effective manner that will ultimately become self-financing as time released becomes time spent in face-to-face business writing opportunities for the IFA.
To date, our market research has shown only a small number of other similar firms in operation and we believe the existing market offering is something we have capitalised and improved upon. Our competitors typically specialise in one of only a few certain support services (Compliance, IT, Research etc) we offer a complete business support solution.
We believe that we can give IFAs the option of cost effective access to market leading back-office facilities. We enable the IFA to use technology efficiently and cost-effectively, helping them to demonstrate real added value and professionalism to their clients. We recognise that IFAs need to spend their time advising clients, which is why we have introduced many ways to speed up administration and research for the IFAs we serve, including paperless back office systems, dedicated fund research, market leading research tools and much more and are always planning our business based around technology, specifically internet services.
The service we provide will ultimately allow you to spend more time in front of your clients.
Our business aim is to set the standard for the way a modern adviser business should run.