Show me what you have done for other clients like me
This sounds like me, but I am not ready to get going just yet
This sounds like me. I would like to know a bit more about The Timebank before going ahead
- A leading, UK financial services consultancy firm established in the 1930’s.
- 7 full-time Financial Advisers, Employee Benefits Consultancy.
- Over 840 clients plus members of large employer group pension schemes, clients targeting capital growth and clients planning for, or sustaining, life in retirement.
- Guidance on what exactly a MiFIDII Review looks like and needs to include.
- Concerns around the resources and time to complete 840+ reviews each year.
- Concerns that the cost to the business, assuming 2 hours to write each review, would be c.£168,000 per annum plus the potential lack of new business being written.
To implement and manage a full review process
To implement and manage a full review process.
- Produce a monthly schedule of reviews.
- Liaise with advisers & support team to complete these in line with the adviser’s own schedule.
- Created a MiFIDII compliant template to produce “No Change” Reviews or Reviews that include recommended changes such as Fund Switches, ISA/Pension Top-Ups, changes to Drawdown arrangements.
- Confirm up to date client circumstances.
- Obtain data from providers required to complete MiFIDII reports.
- Complete reviews in a prompt manner and return to our clients for delivery.
- Regular meetings/calls to review the process and templates.
- Our clients have been able to increase their focus on writing new business, so much so they have recruited new people.
- Client retention figures are higher than previous years owing to the improved level of interaction and greater detail provided.
- Level of new business written from existing client base has increased on the back of the annual reviews highlighting areas that require attention.
- A clearly mapped out schedule has helped with resourcing of the administration team.
Ready to proceed?