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Wealth Management

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Wealth Management

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                                                                                                 THE NEWSLETTER FOR 2PLAN
  NEWS       BUSINESS       UPDATE    TCF

  BUSINESS UPDATE




2plan Wealth Management
A recent Datamonitor survey concluded that Wealth Management is one of the fastest
growing and most dynamic sectors in the retail financial services market. Also that
branding continues to be a key initiative alongside improving CRM and support
systems.

But what exactly is it and how does 2plan position itself in this arena and provide enhanced services to members and in
turn, for you to advise and service your clients in a way that retains them as profitable clients and gain quality new ones.

In general, wealth management is more than just investment advice, as it can encompass all parts of a person's financial
life. It is a professional service which is the combination of financial and investment advice. The word “service” is very
important here as it is much more than just revisiting a client once a year and looking for more sales opportunities but
building a trusted, long lasting, professional relationship with your clients and adapting the model to include such things as
retainers and/or fee agreements.

Wealth Management Advice Process – this is very much an advice process to follow with fundamental investment tools
integrated into the process to provide a structured path for you and the clients to follow.

         Fact find

         Attitude to risk

         Asset allocation

         Investment strategy

         Recommendations & reports

         Ongoing service




                                                 Feedback… Any comments on this article please contact news@2plan.com
            NEWS        BUSINESS      UPDATE       TCF                  THE NEWSLETTER FOR 2PLAN MEMBERS




2plan Wealth Management

2plan is a national firm of independent financial advisers. We are not
stockbrokers, fund managers, accountants, tax experts or bankers. We do
not hold client monies or their assets. 2plan provides and equips you with
our own, bespoke technology services in order to assist you in providing
enhanced services to your clients; gain new ones from such avenues as
professional introducers and ensure we always treat our customers fairly.

Over the last 12 months we have been researching the market and either
purchasing tools or developing our own bespoke systems to be able to
provide our own wealth management advice process.

Our approach begins with the principle of managing risk. Primarily we find
clients want to protect the value of their investments yet seek greater
investment returns than can be achieved in a building society for example
and ahead of inflation. Investments returns are not about trying to
maximise the investment return itself at all costs but aligning the level of
risk a client is prepared to take with the rewards they seek and matching
their attitude to risk with the correct portfolio of investments to provide them
with a predictability of outcome of their investments.

                                                                  We believe that asset allocation is the key to long-term
                                                                  investment success and if we adopt a common approach
                                                                  within the firm and provide sophisticated, yet simple to use
                                                                  investment tools we can eliminate the guesswork by an
                                                                  integrated advice process.

                                                                 From this we then assist in the investment strategy and
                                                                 providing model portfolios as opposed to chasing the “top
                                                                 performers” over measurable timescales and not the last
                                                                 three to six months. We then monitor the portfolios and by
way of regular reviews can rebalance them when necessary. Re running the risk profiler with the client at servicing meetings
ensures we maintain the clients correct attitude to risk and align this with what they want to achieve.

Too often advisers spend little time fact-finding with the client and what it is that the client really wants to achieve in certain
timescales, but they spot a product sale and then just focus on getting the sale. This is often income driven by the adviser
whose focus is on the actual sale at that point in time oblivious to the bigger picture or building an ongoing servicing
agreement with the client for the months and years ahead. Conversely, the client perceives greater value around having
recommendations professionally and properly explained to them, time to review their plans, ongoing service and building a
trusted relationship.




                                                   Feedback… Any comments on this article please contact news@2plan.com
             NEWS       BUSINESS      UPDATE       TCF                  THE NEWSLETTER FOR 2PLAN MEMBERS




What do clients value vs. where do advisers spend their time




Our Service;

It may be that your client is just starting out with their first insight into investment and looking to creating wealth for their
future; both medium and longer term plans. They may be on the pathway already but require a more personalised,
professional service. Or they may have inherited or already amassed a fortune and now need this to work for them in the
most tax efficient manner. Building a long term relationship with you as their 2plan independent adviser will provide them
with the platform to plan ahead and achieve a balance both with their investments and how they want to live their life the
way they want to live it.

The financial world can be a very complex area to them – and indeed it is - but you can guide them through the maze and
by understanding their personal needs and circumstances and what they want to achieve we can structure a pathway over
the coming years.




                                                  Feedback… Any comments on this article please contact news@2plan.com
            NEWS       BUSINESS       UPDATE      TCF                  THE NEWSLETTER FOR 2PLAN MEMBERS



Our process;

Our aim is to provide a consistent, structured approach to financial
planning. Together with our advice process we can correctly identify
clients’ needs and objectives and provide tailored solutions to what are
often complex situations.

Over the months the management team has worked closely with you and
produced our very own advice process with integrated tools as opposed
to the black box approach of utilising an array of tools provided from an
array of providers which ends up with a disjointed approach and not the
actual end result you set out to achieve.

        A bespoke, dynamic, 2plan fact find, sufficiently detailed to meet the challenges of our current regulatory
        environment, yet aligned to the advice process for IFAs.

        Our integrated risk profiling tool which enables you to deliver a consistent and confident process

        Our asset allocation model for each attitude to risk profile enables you to tailor the investment outcome to the clients’
        needs.

        Our research support provides guidance on funds and portfolios across the whole of the market producing a range of
        outcomes to tailor the investment strategy to meet the clients’ needs.

        Our auto-generated suitability reports to save you time on core business areas

        Our “paraplanning” service with the team of technical specialists who work with you to deliver financial planning
        solutions, especially for larger or more complex cases, together with all the supporting documentation.

        This support results in us saving you hours indeed days of work enabling you to spend more time advising your
        clients. The clients will perceive real value in how you offer and present professional, independent advice and how
        you have the support of people in HO who have the experience and qualifications to assist in providing these
        solutions. You personally can present the advice in the knowledge that it is already approved and indeed presenting
        yourself in a professional manner which is very different from many IFAs the clients may have dealt with. This in
        itself will ensure the clients stay with you and refer you to others.

Overall our aim is to provide a safe environment for you and to reduce the risk in your business by aligning yourselves to
our method of working.




                                                 Feedback… Any comments on this article please contact news@2plan.com
             NEWS       BUSINESS      UPDATE       TCF                  THE NEWSLETTER FOR 2PLAN MEMBERS



Why should we align 2plan to wealth management?

Over the months we have seen a naturally evolution to this sector and there are
many benefits to everyone in doing so, such as differentiating yourselves in the
eyes of the client, gaining new quality clients, segmenting your client bank and
setting up service agreements to build fee / recurring income streams.

The ongoing retail distribution review; aligned with 2plan’s response seeks to
create a simpler landscape, in particular for a clear distinction between ‘advice’
and ‘sales’. Three main outcomes being focused on to date are;

    1. Independence; both in terms of status and in their practices,

    2. CAR; remuneration determined without product provider input and recommending products from across the whole
       market

    3. Minimum professional standards with the proposal that the CII’s Diploma in Financial Planning be the qualification
       for “advice”

So, we are in an excellent position going forwards and the Feedback Statement is due out in November where we should
receive further clarity. But just saying that you fit the “advice” criteria will not be enough if you truly want to differentiate
yourself in the eyes of the client and what you offer so they can perceive real value from dealing with you and choose you
as their trusted financial adviser. So, whatever is said in the Feedback Statement, this is absolutely the right direction to
move in and position ourselves and yourselves as professional advisers in the marketplace.


What else will 2plan provide?

Our aim is to continue to provide unparalleled services to you but especially with
regard to investment and pension planning where we can offer real differentiated
services and provide true value. These include;

        Enhanced stationery and reports in your presentation and the whole client
        experience

        Continue to produce and improve technology tools such as portfolio reports
        and valuations

        Marketing material to introduce yourselves and enhancements to the adviser
        websites to further market yourselves

        We are currently working on a structured professional qualifications
        programme to enable you to gain diploma level and chartered status if
        required




                                                  Feedback… Any comments on this article please contact news@2plan.com
            NEWS       BUSINESS     UPDATE       TCF                 THE NEWSLETTER FOR 2PLAN MEMBERS


        Our central team of technical specialists in working with you to produce the recommendations and
        solutions for the larger more complex cases – or anything you want to work with them on. Our
        proposition has enabled 2plan members to win new HNW clients and to increase their own personal
        production and the breadth of advice they offer.

In a world where Independent Financial Advisers are under increasing pressure from the regulator, where administration
burden is rising and causing inefficiencies in businesses, compliance and litigation risks are escalating and indemnity costs
have soared; 2plan continues to build a safe environment for you to work within and remove the regulatory and
administration burden many find themselves drowning under in today’s financial services marketplace. Positioning us in the
wealth management sector will enable you to market yourself and the service you provide to gain and retain quality clients
over the coming years and build an enviable, profitable and stable business.




                                                Feedback… Any comments on this article please contact news@2plan.com

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Wealth Management

  • 1.   THE NEWSLETTER FOR 2PLAN NEWS BUSINESS UPDATE TCF BUSINESS UPDATE 2plan Wealth Management A recent Datamonitor survey concluded that Wealth Management is one of the fastest growing and most dynamic sectors in the retail financial services market. Also that branding continues to be a key initiative alongside improving CRM and support systems. But what exactly is it and how does 2plan position itself in this arena and provide enhanced services to members and in turn, for you to advise and service your clients in a way that retains them as profitable clients and gain quality new ones. In general, wealth management is more than just investment advice, as it can encompass all parts of a person's financial life. It is a professional service which is the combination of financial and investment advice. The word “service” is very important here as it is much more than just revisiting a client once a year and looking for more sales opportunities but building a trusted, long lasting, professional relationship with your clients and adapting the model to include such things as retainers and/or fee agreements. Wealth Management Advice Process – this is very much an advice process to follow with fundamental investment tools integrated into the process to provide a structured path for you and the clients to follow. Fact find Attitude to risk Asset allocation Investment strategy Recommendations & reports Ongoing service Feedback… Any comments on this article please contact news@2plan.com
  • 2.   NEWS BUSINESS UPDATE TCF THE NEWSLETTER FOR 2PLAN MEMBERS 2plan Wealth Management 2plan is a national firm of independent financial advisers. We are not stockbrokers, fund managers, accountants, tax experts or bankers. We do not hold client monies or their assets. 2plan provides and equips you with our own, bespoke technology services in order to assist you in providing enhanced services to your clients; gain new ones from such avenues as professional introducers and ensure we always treat our customers fairly. Over the last 12 months we have been researching the market and either purchasing tools or developing our own bespoke systems to be able to provide our own wealth management advice process. Our approach begins with the principle of managing risk. Primarily we find clients want to protect the value of their investments yet seek greater investment returns than can be achieved in a building society for example and ahead of inflation. Investments returns are not about trying to maximise the investment return itself at all costs but aligning the level of risk a client is prepared to take with the rewards they seek and matching their attitude to risk with the correct portfolio of investments to provide them with a predictability of outcome of their investments. We believe that asset allocation is the key to long-term investment success and if we adopt a common approach within the firm and provide sophisticated, yet simple to use investment tools we can eliminate the guesswork by an integrated advice process. From this we then assist in the investment strategy and providing model portfolios as opposed to chasing the “top performers” over measurable timescales and not the last three to six months. We then monitor the portfolios and by way of regular reviews can rebalance them when necessary. Re running the risk profiler with the client at servicing meetings ensures we maintain the clients correct attitude to risk and align this with what they want to achieve. Too often advisers spend little time fact-finding with the client and what it is that the client really wants to achieve in certain timescales, but they spot a product sale and then just focus on getting the sale. This is often income driven by the adviser whose focus is on the actual sale at that point in time oblivious to the bigger picture or building an ongoing servicing agreement with the client for the months and years ahead. Conversely, the client perceives greater value around having recommendations professionally and properly explained to them, time to review their plans, ongoing service and building a trusted relationship. Feedback… Any comments on this article please contact news@2plan.com
  • 3.   NEWS BUSINESS UPDATE TCF THE NEWSLETTER FOR 2PLAN MEMBERS What do clients value vs. where do advisers spend their time Our Service; It may be that your client is just starting out with their first insight into investment and looking to creating wealth for their future; both medium and longer term plans. They may be on the pathway already but require a more personalised, professional service. Or they may have inherited or already amassed a fortune and now need this to work for them in the most tax efficient manner. Building a long term relationship with you as their 2plan independent adviser will provide them with the platform to plan ahead and achieve a balance both with their investments and how they want to live their life the way they want to live it. The financial world can be a very complex area to them – and indeed it is - but you can guide them through the maze and by understanding their personal needs and circumstances and what they want to achieve we can structure a pathway over the coming years. Feedback… Any comments on this article please contact news@2plan.com
  • 4.   NEWS BUSINESS UPDATE TCF THE NEWSLETTER FOR 2PLAN MEMBERS Our process; Our aim is to provide a consistent, structured approach to financial planning. Together with our advice process we can correctly identify clients’ needs and objectives and provide tailored solutions to what are often complex situations. Over the months the management team has worked closely with you and produced our very own advice process with integrated tools as opposed to the black box approach of utilising an array of tools provided from an array of providers which ends up with a disjointed approach and not the actual end result you set out to achieve. A bespoke, dynamic, 2plan fact find, sufficiently detailed to meet the challenges of our current regulatory environment, yet aligned to the advice process for IFAs. Our integrated risk profiling tool which enables you to deliver a consistent and confident process Our asset allocation model for each attitude to risk profile enables you to tailor the investment outcome to the clients’ needs. Our research support provides guidance on funds and portfolios across the whole of the market producing a range of outcomes to tailor the investment strategy to meet the clients’ needs. Our auto-generated suitability reports to save you time on core business areas Our “paraplanning” service with the team of technical specialists who work with you to deliver financial planning solutions, especially for larger or more complex cases, together with all the supporting documentation. This support results in us saving you hours indeed days of work enabling you to spend more time advising your clients. The clients will perceive real value in how you offer and present professional, independent advice and how you have the support of people in HO who have the experience and qualifications to assist in providing these solutions. You personally can present the advice in the knowledge that it is already approved and indeed presenting yourself in a professional manner which is very different from many IFAs the clients may have dealt with. This in itself will ensure the clients stay with you and refer you to others. Overall our aim is to provide a safe environment for you and to reduce the risk in your business by aligning yourselves to our method of working. Feedback… Any comments on this article please contact news@2plan.com
  • 5.   NEWS BUSINESS UPDATE TCF THE NEWSLETTER FOR 2PLAN MEMBERS Why should we align 2plan to wealth management? Over the months we have seen a naturally evolution to this sector and there are many benefits to everyone in doing so, such as differentiating yourselves in the eyes of the client, gaining new quality clients, segmenting your client bank and setting up service agreements to build fee / recurring income streams. The ongoing retail distribution review; aligned with 2plan’s response seeks to create a simpler landscape, in particular for a clear distinction between ‘advice’ and ‘sales’. Three main outcomes being focused on to date are; 1. Independence; both in terms of status and in their practices, 2. CAR; remuneration determined without product provider input and recommending products from across the whole market 3. Minimum professional standards with the proposal that the CII’s Diploma in Financial Planning be the qualification for “advice” So, we are in an excellent position going forwards and the Feedback Statement is due out in November where we should receive further clarity. But just saying that you fit the “advice” criteria will not be enough if you truly want to differentiate yourself in the eyes of the client and what you offer so they can perceive real value from dealing with you and choose you as their trusted financial adviser. So, whatever is said in the Feedback Statement, this is absolutely the right direction to move in and position ourselves and yourselves as professional advisers in the marketplace. What else will 2plan provide? Our aim is to continue to provide unparalleled services to you but especially with regard to investment and pension planning where we can offer real differentiated services and provide true value. These include; Enhanced stationery and reports in your presentation and the whole client experience Continue to produce and improve technology tools such as portfolio reports and valuations Marketing material to introduce yourselves and enhancements to the adviser websites to further market yourselves We are currently working on a structured professional qualifications programme to enable you to gain diploma level and chartered status if required Feedback… Any comments on this article please contact news@2plan.com
  • 6.   NEWS BUSINESS UPDATE TCF THE NEWSLETTER FOR 2PLAN MEMBERS Our central team of technical specialists in working with you to produce the recommendations and solutions for the larger more complex cases – or anything you want to work with them on. Our proposition has enabled 2plan members to win new HNW clients and to increase their own personal production and the breadth of advice they offer. In a world where Independent Financial Advisers are under increasing pressure from the regulator, where administration burden is rising and causing inefficiencies in businesses, compliance and litigation risks are escalating and indemnity costs have soared; 2plan continues to build a safe environment for you to work within and remove the regulatory and administration burden many find themselves drowning under in today’s financial services marketplace. Positioning us in the wealth management sector will enable you to market yourself and the service you provide to gain and retain quality clients over the coming years and build an enviable, profitable and stable business. Feedback… Any comments on this article please contact news@2plan.com