Business Planning
Bearing in mind IFA's exist to assist their clients to plan for a better future, and many IFA's take great pleasure in producing complex reports to that end, the lack of documented planning within most IFA businesses is astounding. Planning is what you do, yet when it comes to your own businesses there is precious little in the way of documented planning.
Yes it can be time consuming, even boring and yes there is a popular perception that it tends to tie up one or more fee earners for long periods of time, but as the well known saying goes, "proper preparation and planning prevents poor performance". Many IFA's claim that they can manage without a comprehensive business plan and point to the fact that they've done okay without one so far. The difference now is that the margins are tighter and the competition more intense than before and so planning is becoming more important than ever.
So why plan, well simple logic dictates that if you and your team have taken the time to think about what you are going to do, how you are going to do it, what the risks are and what the rewards might be, then you must surely be in a stronger position than if you don't. At Kingmakers we understand that business is business and that clients need to be taken care of as a priority, but time can and should be made for planning.
We cannot offer to 'knock you up' a business plan from a template and we must have your input and that of your team, in order to make the planning process a successful one. We take a sensible approach to planning and always identify the purpose of the plan and then tailor the content and production to suit that purpose. So whatever stage you are at in the planning process get in touch and we will work with you to scope out what planning you need and identify how we can assist.