Many advisers will be looking to adapt the way they work post-RDR, and now could be the time to move from advising individuals to also advising corporations. But where do you start?
1. Assess your skills. As mentioned in our feature on corporate advice, it could take a lot of time and effort to get up to scratch on new auto-enrolment legislation. Get up to speed on the technical know-how before approaching clients so you are in the best position to showcase your skills.
2. Explain charges clearly to clients. Since many advisers have previously operated on commission, it is important to clarify the charges to clients for advice alone, as soon as you enter into any work with them. Corporate clients are more used to writing out cheques for services; use this to your advantage.
3. Keep up with movements of decision-makers. When someone in charge of financial decisions moves to another company, ask them if you can review their new company’s benefits.
4. Try seminars. Team up with solicitors and accountants to run seminars based around particular topics where you can attract corporate clients.
5. Establish what employers want to achieve. Find out whether they want to provide the bare legal minimum or if they are interested in introducing a range of non-obligatory benefits for their employees. Introduce new ideas to them alongside what they have to provide.
More top tips from Money Management
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