Created by industry experts Brett Davidson of FP Advance, Tim Hale of Albion Strategic Consulting and Tracey Underwood of Pace Solutions, the new management partnership brings together all the skills necessary to grow boutique financial planning businesses to a more scalable and profitable size.
Called MODEFP, this new way of doing is to be launched at the IFP Conference 3 to 5 October 2011. MODEFP is a service targeted directly at owner managers who face major barriers to business growth and struggle with the ‘management stuff’ surrounding them.
The ultimate aim is to get owner manager advisers back in front of their clients where they make money (and have more fun) and to lessen the management load.
MODEFP will provide expert help with:
- the whole client experience
- investment and practice management
- branding and marketing
- human resources and recruitment
- business structure
- personal mentoring
- paraplanning.
It will also provide the board level input needed to help break through the ceilings of complexity firms experience as they develop.
Commenting on the new partnership, Brett Davidson says
Most adviser-owners believe that what they do for their clients is a bit special. But very few of them feel like their business is performing as well as it could and far too many are plain stuck at a level of performance that is too low for such a high quality service.
MODEFP brings an experienced and highly credible team to help advisers and their businesses become all they are capable of being. The best advisers want to stretch themselves personally and professionally and to leave a legacy for the profession. That’s our goal too.
Tim Hale says
The firms I work with are all helping their clients to create a great lifestyle, but they don’t always achieve that for themselves. At MODEFP we want to help our partner firms to build a beautiful and valuable financial planning business that’s fun to work in, so they can enjoy what they’ve created while they work in it, not at some exit point in 15 years time.
Even more than that, we want to be part of businesses that believe in doing things right, with strong personal values and high quality advice.
Tracey Underwood adds
When you start to remove the barriers to growth in most firms, not only do they perform better financially, but everyone in the business starts to enjoy coming into work again.
By streamlining business processes and getting clarity around who does what on a daily basis you can really make a difference. Combining all that with Brett and Tim’s expertise gives us a proposition that we know will add massive value for our clients.
MODEFP wants to work with businesses that:
- know how to have strong conversations with clients about their life goals
- use cash flow modeling
- run a passive investment approach (or wish to do so)
- want to go from good to great.
MODEFP will form life-long partnerships with its client firms, providing all the support needed to improve top line revenues and profit margins, sustainably.
The adviser-owner will retain full control signing off all decision making within their business. However, they will be freed of all the management stuff so they can focus on the financial advising while MODEFP handles everything else.
Barriers to Growth in Financial Planning Firms a paper by MODEFP
