Winning Client Trust
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Winning Client Trust: The Retail Distribution Review and the UK Financial Services Industry's Battle for Its Clients' Hearts and Minds

Winning Client Trust: The Retail Distribution Review and the UK Financial Services Industry's Battle for Its Clients' Hearts and Minds


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About the Book

Table of Contents:
The Key RDR Challenges 1.1 The RDR Implementation Journey 1.2 Forseen consequences 1.3 Unforseen consequences 1.4 Summary 2 Evolution of financial services regulation and business 2.1 A history of regulation 2.2 Current issues 2.3 Financial advice 2.4 Products 2.5 Summary 3 Organisational change and transparency 3.1 What is organisational change? 3.2 Change management strategies that work 3.3 Change in practice 3.4 Transparency in business 3.5 Summary 3.6 Case Study 1: IFA change process. 4 Understanding the value chain 4.1 Internal value chains 4.2 External value chains 4.3 Investment value chain 4.4 Evidence based management (EBM) 4.5 Summary 5 Behavioural economics 5.1 Regulation of behaviour 5.2 Importance of psychology 5.3 The human brain and cognitive activity 5.4 Systematic biases 5.5 Possible solutions 5.6 Summary 6 Creating the sustainable business model 6.1 IFA’s, wealth managers and banks 6.2 Strategic design 6.3 Product providers, wraps and platforms 6.4 New business model structures and related behaviours 6.5 Key to a profitable business operation 6.6 Summary 6.7 Case Study 2: A Platform Provider Model 7 Marketing, Marketing, Marketing 7.1 Product development 7.2 Platforms 7.3 Service design 7.4 Consumer engagement 7.5 Generation Y 7.6 Strategy and implementation 7.7 Summary 8 Fee based financial planning in action 8.1 Commission 8.2 Customer agreed remuneration (CAR) 8.3 The bare-faced fee 8.4 Charges, fees and rebates 8.5 Regulatory direction 8.6 Platforms and re-registration 8.7 Summary 8.8 Case Study 3: Solicitor Fee Model 9 Hard case for the soft skills 9.1 Psychological attributes 9.2 Risk management 9.3 Better Client Relationships (BCR) 9.4 Designing a RDR cultural transition learning and development programme 9.5 BCR in action 9.6 What will the new skill set look like 9.7 The sales experience and the cost myth 9.8 Summary 9.9 Case Study 4: Relationship Capital 10 Technology, Technology, Technology 10.1 Social media 10.2 The Cloud 10.3 The `black box’ treatment 10.4 Cashflow modelling 10.5 Asset allocation 10.6 Risk profiling 10.7 Outsourced support services 10.8 Diagnostics 10.9 Summary 10.10 Case Study 5: Adviser Technology 11 Putting it all together 11.1 Honesty 11.2 Understanding 11.3 Knowledge 11.4 Pedigree 11.5 Structure 11.6 Communication 11.7 Conclusion = Application 12. The Trust Factor 12.1 Trust defined 12.2 The journey to trust 12.3 The Trust factor Afterword About the Author Additional resources 1. Key FSA consultancy and other relevant papers. 2. Key organisations & websites. 3. Glossary of terms. 4. Treasury Select Committee Fifteenth Report: The Retail Distribution Review, summary and comments. 5. FSA paper PS11/9 Platforms Bibliography

About the Author :
Chris has worked within the financial service sector both domestically and internationally for over 20 years, and has enjoyed various roles working within domestic banking, insurance and as an independent financial adviser, sales director and independent consultant. In the UK, Chris worked with Nat West bank then moved into insurance with Endsleigh insurance group and then Friends Provident First Call managing sales teams and developing and implementing training and competence programmes. In 1996 Chris moved to Hong Kong to further his career as an independent financial adviser with (at the time) the UK's and Asia's leading wealth management group, Towry Law. Chris left Towry to set up his own consultancy and gained contracts with Axa to help implement and develop Asia's first fee based financial planning firm, ipac financial planning, a company that still thrives today. After 11 years, it was time to repatriate to the UK with a young family in tow, where Chris has been working in a management consultancy capacity. He co-founded engage partnership limited, a financial services focused consultancy, providing strategic planning and support to financial services companies in particular with change management and coaching services along with customer facing technology and software development to meet the ever challenging industry demands. Chris is ICA: UK trained in group facilitation methods and provides freelance work as facilitator and speaks at industry conferences. Chris is a certified financial planner and holds a Bachelor of English Literature degree from the University of Manchester and a MSc at Birkbeck University London in Organisational Behaviour. Chris' interests include acting and most sports including marathon running, football and tennis and enjoys reading, writing and theatre.

Review :
Winning Client Trust explains exactly how to place the client at the heart of the financial services industry for the benefit of both businesses and customers. This book by Chris Davies addresses many of the challenges and fears both IFAs and the industry in general face and provides foresight to navigate through the perilous waters faced by all in the (RDR) transition. This book…is a valuable contribution to the debate on the future form of retail nancial services and advice provision in this country. We welcome the RDR, just as we welcome your work in pulling together this book. This book MUST be read by anyone with any involvement in marketing or selling more complex financial services products to consumers, or advising consumers about how to manage their longterm finances… Chris is the man to watch through the significant changes ahead in financial advice and planning…Read Chris’ book for a whole new perspective and a clear way to make your move forward.


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Product Details
  • ISBN-13: 9781907722462
  • Publisher: Rethink Press
  • Publisher Imprint: Ecademy Press
  • Height: 229 mm
  • No of Pages: 250
  • Spine Width: 13 mm
  • Weight: 341 gr
  • ISBN-10: 1907722467
  • Publisher Date: 29 Sep 2011
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Sub Title: The Retail Distribution Review and the UK Financial Services Industry's Battle for Its Clients' Hearts and Minds
  • Width: 152 mm


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