Articles - Resist the 'attraction to action'


 Gary Thomson, AXA Wealth's head of specialist services, considers the accelerating ‘noise' around RDR that advisers are facing and how a back to basics approach can help them find peace.

 'What we're seeing in the market at the moment is something akin to ‘launch fever' as the RDR deadline approaches. The volume and breadth of noise is really accelerating around adviser charging, VAT, cash rebates, independence, D2C offers, asset consolidation opportunities and whole range of other subjects.

 Amidst all this noise it's really easy for advisers to get distracted and drawn into what is really operational detail. This ‘attraction to action' must be resisted at all costs.

 I'd really encourage advisers to find a quiet space and get back to basics. Who are my clients and what do they value?

 That seems like a really simple question but the answer should be the foundation on which every decision about the business model is made, as the next question then is: ‘What is the most efficient and profitable way of me delivering that value?' Only then do you have some clear guiding principles on which to navigate your way through all of this noise.

 Every time you consider the solutions available to you in the market the questions must be: How does this help me to deliver value to my clients? Does it enable me to deliver that value in an efficient way, and, of course, how can the provider help support me in achieving this objective?'

Back to Index


Similar News to this Story

Skilled actuaries required
Since the upheaval of pension freedoms in 2015 when drawdown rules were relaxed and annuity sales declined, the role of actuaries in the DC space ha
A step change is expected for DB pension scheme funding
Mike Smedley, Pensions Partner at KPMG in the UK discusses some of the changes expected for DB pension scheme funding in 2019
What does the ideal actuarial consultant look like
We recently published our Navigating Change report, which looks at the changing role of the actuarial consultant. One issue that struck me was the wid

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.