Winners - FP Advance


Brett Investment

One man wealth management and financial planning firm in the Scottish borders

The Results

A far greater level of enjoyment I get from going to work in my business every day since our work with FP Advance. That is something I can’t put a price on. Jeremy Brett, Managing Director, Brett Investment

Some numbers

  • 12% increase in turnover
  • 70% increase in recurring fee income
  • 50% drop in PI insurance premiums
  • 10% reduction in cost base.

What did FP Advance do?

In Jeremy Brett’s words:

1. Carried out a client segmentation exercise

With the help of FP Advance we had a closer look at the types of clients we worked with and then designed an appropriate service package that we believed would appeal to each segment. We have a wide ranging bunch of clients from sophisticated and wealthy to those with more modest means. We wanted to be able to offer a level of service appropriate to each client type.

The customer impact was instantaneous and dramatic

From a slightly confused group of clients who weren’t exactly sure off what they were getting for their money, we now have clients who understand exactly what we are trying to do for them,, how they can benefit and what they are paying for it.

2. Created a process for deliver of each service package

The actual process followed for each client segment is actually very similar. However, the packaging and presentation of each service is differentiated to appeal to each segment’s key needs.

The financial impact of these changes has been measurable

We are more efficient because our business process is consistent and of good quality which gives us confidence and saves real bottom line costs. A clear tangible benefit was a reduction in our PI premium of over 50% in the first year.

3. Developed a first meeting presentation and investment storyboard

This was to help explain our value added to clients simply and clearly. This has improved customer take up of our services dramatically with our first meeting hit rate now over 90%