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Positive Solutions helps Partners with RDR transition
09/02/2011
Printable version
Printable version
Positive Solutions helps Partners with RDR transition
Positive Solutions is to roll out a bespoke ‘Evolution’ e-toolkit to help Partners prepare their business for RDR changes and the introduction of adviser charging.
The toolkit, developed in conjunction with Ideas Lab, will consist of seven web based tools on a bespoke ‘Evolution’ website available through the Positive Solutions extranet.
The toolkit will help Partners to decide:
- what services they will offer to which of their clients in the future
- What to charge for their services
- how to pitch and deliver their services
- how to develop the most appropriate financial model for their business
- how to work out how much their time is worth so they can move from being commission based to fee based
Following a pilot with a small group of Partners in December, the first two tools - Action Plan and Time and Cost Module are now being made available to Partners.
The full toolkit comprises:
Action Plan
A paper and web-based document providing a “road map” through the business transition process. It will help Partners map out the steps they need to take before 31 December 2012 to be ready for RDR implementation.
Time and Cost module
This module will help Partners with the move from commission to fee based remuneration. It is available online and is designed to let Partners see just how much time and effort they cur-rently spend in dealing with clients and help them translate this into a cost. It will also help them uncover what part of their advice process, if any, needs to be redefined or delegated to allow them to do what they do best – advising their clients.
Financial Modeller
Using the time recording data a Partner can run dynamic what if /scenarios, start modelling how the business would look if they changed rates, attracted more clients or offered different services.
Proposition Builder
Helps Partners determine the types of services they will offer in future and what those services will include. Allows a Partner to build a proposition that is robust enough to justify their fee.
Segmentation
This module helps Partners determine the most suitable service for each client within the overall proposition.
Process Builder
Enables each Partner to determine the cost of delivering their unique business proposition(s) by helping them detail processes and understand costs.
Pitch Builder
Will provide Partners with a series of templates to help them build high quality presentations for prospective and current clients in order to help them explain and sell their new business proposition(s).
The remaining five modules will be rolled out during the next few months with the full suite available by the end of Q2 2011.
Jim Reeve, CEO of Positive Solutions, says:
“We’ve had very positive feedback from the Evolution toolkit pilot and I’m confident Partners will find it invaluable in shaping their business for success in the post-RDR world. With less than two years until RDR implementation I’m determined Positive Solutions will be at the forefront of providing the best quality support services to help Partners develop the most appropriate business model and strengthen client relationships.”
-Ends-
Further information
Margaret Robertson
PR Manager
AEGON
0131 549 6798 / 07740 897527
margaret.robertson@aegon.co.uk
Notes to Editor
• Positive Solutions surveyed Partners in Spring 2010 to find out what additional services they would like to see the firm provide. Of the 725 Partners who responded, 61% supported the introduction of a Paraplanning service.
• The Evolution toolkit has been exclusively designed for Positive Solutions by the Ideas Lab (Robert Reid and Roderic Rennison). Partners will have access to a bespoke Evolution website through the Positive Solutions’ extranet, at no additional cost, where they can access the tools and monitor progress.
• Positive Solutions is a leading national IFA with over 1400 registered individuals. It is owned by AEGON UK.
• In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £53.6 billion and employs approximately 4,000 staff.
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Positive Solutions is to roll out a bespoke ‘Evolution’ e-toolkit to help Partners prepare their business for RDR changes and the introduction of adviser charging.
The toolkit, developed in conjunction with Ideas Lab, will consist of seven web based tools on a bespoke ‘Evolution’ website available through the Positive Solutions extranet.
The toolkit will help Partners to decide:
- what services they will offer to which of their clients in the future
- What to charge for their services
- how to pitch and deliver their services
- how to develop the most appropriate financial model for their business
- how to work out how much their time is worth so they can move from being commission based to fee based
Following a pilot with a small group of Partners in December, the first two tools - Action Plan and Time and Cost Module are now being made available to Partners.
The full toolkit comprises:
Action Plan
A paper and web-based document providing a “road map” through the business transition process. It will help Partners map out the steps they need to take before 31 December 2012 to be ready for RDR implementation.
Time and Cost module
This module will help Partners with the move from commission to fee based remuneration. It is available online and is designed to let Partners see just how much time and effort they cur-rently spend in dealing with clients and help them translate this into a cost. It will also help them uncover what part of their advice process, if any, needs to be redefined or delegated to allow them to do what they do best – advising their clients.
Financial Modeller
Using the time recording data a Partner can run dynamic what if /scenarios, start modelling how the business would look if they changed rates, attracted more clients or offered different services.
Proposition Builder
Helps Partners determine the types of services they will offer in future and what those services will include. Allows a Partner to build a proposition that is robust enough to justify their fee.
Segmentation
This module helps Partners determine the most suitable service for each client within the overall proposition.
Process Builder
Enables each Partner to determine the cost of delivering their unique business proposition(s) by helping them detail processes and understand costs.
Pitch Builder
Will provide Partners with a series of templates to help them build high quality presentations for prospective and current clients in order to help them explain and sell their new business proposition(s).
The remaining five modules will be rolled out during the next few months with the full suite available by the end of Q2 2011.
Jim Reeve, CEO of Positive Solutions, says:
“We’ve had very positive feedback from the Evolution toolkit pilot and I’m confident Partners will find it invaluable in shaping their business for success in the post-RDR world. With less than two years until RDR implementation I’m determined Positive Solutions will be at the forefront of providing the best quality support services to help Partners develop the most appropriate business model and strengthen client relationships.”
-Ends-
Further information
Margaret Robertson
PR Manager
AEGON
0131 549 6798 / 07740 897527
margaret.robertson@aegon.co.uk
Notes to Editor
• Positive Solutions surveyed Partners in Spring 2010 to find out what additional services they would like to see the firm provide. Of the 725 Partners who responded, 61% supported the introduction of a Paraplanning service.
• The Evolution toolkit has been exclusively designed for Positive Solutions by the Ideas Lab (Robert Reid and Roderic Rennison). Partners will have access to a bespoke Evolution website through the Positive Solutions’ extranet, at no additional cost, where they can access the tools and monitor progress.
• Positive Solutions is a leading national IFA with over 1400 registered individuals. It is owned by AEGON UK.
• In the UK AEGON offers pensions, life insurance, asset management and financial advice to around two million customers. AEGON UK has assets under administration of £53.6 billion and employs approximately 4,000 staff.