SEPTEMBER 2020
EDITION

VIEW ONLINE
SUBSCRIBE

Register with PP

Newsletter, Jobs & Event Alerts

SEARCH
PROFESSIONAL PARAPLANNER

FOLLOW AND SHARE

LATEST

CATEGORIES

MOST VIEWED

ALL LATEST

 

ALL LATEST

LATEST PROFILES

 

MOST VIEWED PROFILES

  • Martin Vaughan

    Martin Vaughan has been an influential figure in the development of paraplanning in the UK. Rob Kingsbury spoke to...

  • Nathan Fryer – Plan Works

    Nathan Fryer set up outsourced paraplanning firm Plan Works in 2014. He’s now looking to expand the operation.  Nathan...

  • Martin Green – Chadney Bulgin

    Martin Green has two paraplanning awards under his belt and says he intends to use them to help promote paraplanning...

ALL PROFILES

 

ALL PROFILES

LATEST DEVELOPMENT

DEVELOPMENT CATEGORIES

MOST VIEWED DEVELOPMENT

ALL DEVELOPMENT

 

ALL DEVELOPMENT

LATEST JOBS

JOBS FILTER

MOST VIEWED JOBS

ALL JOBS

 

ALL JOBS

LATEST MAGAZINE EDITIONS

LATEST EVENTS

 

PAST EVENTS

ALL EVENTS

 

ALL EVENTS

Latest

How advice firms are gaining new business during Covid

10 August 2020

Some advisers have seen new business levels jump by over 30% during the Covid-19 pandemic, despite widespread financial and economic uncertainty.

According to a survey by Dynamic Planner, more than one fifth (21%) of advisers said new business had increased and was higher or much higher, in contrast to 16% who had experienced a drop of more than 70%. Around a third of those surveyed said business levels had remained the same.

To help firms who have struggled during the crisis, the risk profiler identified the leading methods used by higher performing advisers to improve their business levels.

The survey revealed that those firms performing better generated new business from existing clients. While all firms had addressed the issue of Covid-19 with clients, those who were most successful were found to have spoken more about Covid-19 related concerns and spent more time building a rapport and understanding with clients.

Higher performing advisers were also more likely to offer a free initial consultation and in initial meetings, the use of open questions was used more frequently among the higher performing group, Dynamic Planner said.

The adoption of technology in engaging with prospective clients was also a clear differentiator, with over 50% of high-performing firms using video for the discovery meeting and 35% using it during the very first client interaction. Advisers also made greater use of online risk profiling, with three quarters of high-performing firms using this method, as well as online fact-finding.

Dynamic Planner said investing new money and reviewing portfolios was also a key part of a successful offer, and said there was a marked difference when it comes to fee income generated from portfolio reviews, with firms attracting more new business shown to be generating significantly more income from this activity.

Finally, ongoing reviews were central to winning new business in a time of deep uncertainty and change for clients, the group said.

Yasmina Siadatan, marketing director, Dynamic Planner, said: “The Covid-19 pandemic has impacted the financial advice and planning industry in a uniquely challenging way, and it’s not over yet.

“The country is already in deep recession and is bracing itself for one of the most troubling economic periods in a century. The restrictions brought about by managing the virus are a huge challenge for a traditionally face-to-face industry.

“The issue of new business levels remains for most firms. We hope that by sharing this analysis of what those who have been most successful are doing, we can go some way in helping advisers learn from one another, make an even bigger difference for clients and come through the pandemic stronger and better than before.”

Related

MOST VIEWED

CATEGORIES

Featured Videos

  • In this video, with Elsa Ordonez Garcia, paraplanner with Mazars, shares her view on how to get the best from the adviser/paraplanner relationship.

    To move through our carousel of videos and podcasts just click on the squares below.

  • In this video, Rebecca Lucas, founder and director of Lime Outsourced Paraplanning, talks about the qualities she feels are needed for anyone looking to set up an outsourced paraplanning business.

    To move through our carousel of videos and podcasts just click on the squares below.

  • We asked five of our presenters what they would most like paraplanners to take away from their sessions at the Technical Insight Seminars 2018. Here’s what Rory Percival had to say about his very popular session.

    The Technical Insight Seminars are being hosted around the country at 11 venues. There are still places at some venues so if you’d like to join over 700 of your fellow paraplanners who have registered to attend, Email [email protected] for more info.

    To move through our carousel of videos and podcasts just click on the squares below.

  • Paraplanner profile December - Rob Kingsbury talked to Kirsty Stone, CISI Paraplanner of the Year 2017, about being a Law graduate, volunteering for Citizens Advice Bureau, working at Pension Wise and becoming senior paraplanner at Dart Capital.

    To move through our carousel of videos and podcasts just click on the squares below.

  • Professional Paraplanner Technical Insight Seminars continue this autumn starting on 6 September in Edinburgh.
    Attendance is free for paraplanners.

    If you are undecided on whether to attend one of our Seminars – or you need some ammunition to put forward your case for attending – in the video below see what some of the paraplanners at the London event thought of the day.

    We have three great days lined up for you at each of our events - featuring plenary sessions and workshops – and we look forward to seeing you there.

    To move through our carousel of videos and podcasts just click on the squares below.

  • For our September issue, we filmed our Paraplanner Profile Caroline Stuart talking about why she will be hosting the national Paraplanners Powwow this year.  

    To move through our carousel of videos and podcasts just click on the squares below.

  • Alan Gow, Owner, Argonaut Paraplanning, Outsourced Paraplanning Services Provider, gives us an insight into his experience as a delegate at the Technical Insight Seminar, Bristol, 9th November 2016.

    Thirty five paraplanners from across the South-West joined us at the Aztec Hotel & Spa for an educational seminar. The delegates heard speakers from The FCA, Technical Connection, Invesco Perpetual, BlackRock iShares, Fidelity, Columbia Threadneedle and Investec Structured Product on a wide range of topics.

    To move through our carousel of videos and podcasts just click on the squares below.

  • Ashley Maloney, Paraplanner at Vestra Wealth LLP, gives us an insight into her experience as a delegate at the Technical Insight Seminar, London, 8th June 2016.

    To move through our carousel of videos and podcasts just click on the squares below.

Do NOT follow this link or you will be banned from the site!