Many appointed representative firms are crying out for development support to maximise their business potential in difficult trading conditions.
Often ARs struggle to grow their businesses without support from their current network.
So why is support so hard to come by when it makes such good business sense?
It seems many networks fail to invest in relevant expertise or sufficient resources to deliver a proposition AR members need.
I believe the failure of networks in recent years has in part been attributable to low AR productivity and adviser retention issues through failing to deliver the support needed.
Development support should be fundamental to a network proposition delivering tailored solutions for each AR.
This means taking time to understand AR business ambitions, while prioritising and allocating appropriate resources to deliver the most productive results.
These needs are often diverse, from introducer and adviser recruitment, effective client management and marketing strategies through to business efficiencies and cost management, underpinned by comprehensive IT solutions.
Successful strategies maximise current opportunities but adapt to changing markets and position the AR for sustainable growth.
It’s not a quick fix but by working closely with ARs networks can provide support from a skilled and motivated team for as long as it takes.