Bloomsbury - Case Study - FP Advance - A Boutique Consulting Firm


Turnover from £730,000 to £1.1 million in 24 months, profits increase five fold

Six new clients in six months compared to six in the previous two years

Average client satisfaction rating now 8.5 out of 10

Bloomsbury Financial Planning has a team of three business owners and two other advisers generating a turnover of £1.1 million with a renewal income of £850,000 to the end of March 2011.

Challenges facing Bloomsbury

  1. Effective business planning

    Bloomsbury felt they had many things to address and found it difficult to work out what they should focus on first and how best to measure progress. This was having a negative impact on the business as the lack of focus and structure was holding back growth. Their resources were also not being used in the most effective way.

  2. Effective client engagement process

    A multitude of tools, processes and approaches to client engagement had been picked up over the years and was leading to confusion. Effectiveness at engaging new clients had fallen to an all time low and growth was not as expected given the number of new enquiries being received.

  3. Staff management & reviews

    There was no real process or structure in place for setting staff development plans and the means of reviewing them. This meant that staff were not as effective or cohesive as they could have been if there was a formal process in place.

What did Bloomsbury do with the help of FP Advance?

In Principal, Jason Butler’s words …

  1. We created a two-page yearly business plan

    This incorporated the balance scorecard business plan approach. Four key goals for the year were then broken down into four key goals that were to be achieved each quarter.

This led us to achieving excellent financial results. Turnover grew from £730,000 to £1.1 million in 24 months and profits increased five fold.

Our clients also began to realize that we were becoming more professional and focused and our average client satisfaction rating is now 8.5 out of 10.

  2. We simplified our client engagement process and went back to basics

    Our initial discussion with our client focuses on developing trust and understanding, and identifying tangible value way before fees are discussed. We also devised a more flexible approach that allows the planner to decide whether or not to charge initial fees based on client complexity and the value that can be delivered.

We also now focus all our energy on generating referrals from clients and professional contacts. This has led to six new clients in the past six months compared to six in the previous two years. Our clients now know how to refer, new clients are more motivated to become clients and we are happier with our process and the results.

  3. We created personal business plans for all staff

    We did this using a balanced scorecard approach like the main business plan with quarterly objectives to be achieved throughout the year. We carried out quarterly reviews for the first year but have dropped them to twice yearly now that all staff are comfortable with their progress and our review process.

Our staff work hard and they know what’s expected of them. They also have a chance to be heard by the business leader.

Overall our clients interact well with our staff and our staff enjoy their work which comes across to clients.


  1. The business is achieving excellent financial results
  2. The team are motivated and capable of creating good results
  3. Our clients are happy.