Kwame Lewis, CFA CPA FCCA LRSM’s Post

RIA Breakaways: What’s Driving Movement of Advisors at Independent Firms? This new wave of transitioning advisors is feeling the pushes and pulls of an evolving industry. Red the full article here: https://bit.ly/4beRB45

A connected firm is #going to understand their #clients better, not just in terms of the relationships that they have with #clients, but also what's #going on in the market, what's #going on in the industry that the client operates

It’s a question every growing business eventually faces: do we buy it or do we buy it or do we build it? The financial industry is no exception. Buckingham Strategic Partner Division Manager Ben Slater dives into why contracting out resources may be beneficial for many advisors. He explores the pros and cons of outsourcing trading, portfolio management, marketing, client communications support and other intangibles. 

📜 Understanding Registrar's Powers: What and Why 📜 Curious about the powers of the Registrar of Companies? Our latest blog breaks down the roles and responsibilities of the Registrar, helping you understand how they can impact your business. 🔍 In this blog, you'll discover: The key functions of the Registrar How the Registrar oversees company compliance The impact of Registrar's decisions on your business How to stay compliant and avoid penalties Get the insights you need to navigate regulatory requirements confidently and keep your business on the right track. https://lnkd.in/d3ujpgxV #1stChoiceIncorporations #RegistrarPowers #BusinessCompliance #CompanyRegulation #BusinessKnowledge #StayCompliant Show Less

Not planning ahead can put your practice and the equity you built in jeopardy. https://hubs.li/Q02dZPB50 #advisors #financialadvisor

Vertical integration in financial advice is dead – or it should be – but horizontal collaboration is emerging in its place. The Licensee Summit heard how a tie-up between BlackRock, Lonsec and AMP promises to open access to robust and professionally managed SMAs even for small advice practices, while avoiding the conflicts identified by the Hayne royal commission, and in the face of a looming regulatory focus on SMA performance. Chantal Giles 📊 Michael Wright Matt Lawler #financialservices #financialadvisers #financialplanning

We recognise the importance of fostering a trusted and transparent relationship between clients and advisers. Clients deserve access to unbiased information about advisers, free from any paid promotions, before committing to their services. Advisers who prioritise their clients and deliver exceptional service should not be obligated to share their fees or compensate for referrals. Vetted Adviser offers access to vetted professionals who willingly undergo independent verification based on client feedback that we authenticate. 📚 Learn more at: https://bit.ly/42RU2Gf #ProfessionalServices #Adviser #ProfessionalAdvisers #Advisers #FinancialAdvisers

How should a professional service firm (PSF) compete to become ‘larger than life’? How do you become a ‘star’ PSF? PSFs should focus on the following 10 issues:   1. Attracting, developing, and retaining the right people. The most important firm skills are personified in the firm’s key personnel. How does a star PSF consolidate its exceptional reputation? By attracting the cream of the crop and encouraging senior professionals, who no longer make an outstanding contribution, to leave. 2. Building and deepening client relationships. The best clients want the best PSFs, and vice versa. Client development is a day-in, day-out, ongoing, unremitting, persevering, compassionate type of activity. Client attention + Client feedback = Client development. 3. Building and leveraging a high-quality knowledge support infrastructure. Knowledge is the lifeblood of the PSF. Great PSFs create, enrich, and leverage exceptional knowledge. 4. Managing core principles effectively. A PSF with powerful guiding principles never depends on the ebb and flow of outside events, discontinuities, or accidental circumstances. Principles are needed since firms need to be led. Otherwise, they will be ‘operated’, that is, their performance will be the result of what happens outside the firm. 5. Building and leveraging reputation. Reputation is what resides in the minds of people (e.g., clients). It captures a firm’s 3Ps - purpose, personality, and positioning - and distinguishes it from its peers. A firm’s ‘aura’ must be successfully managed and maintained so that ‘reputation equity’ is protected. 6. Developing a smooth-running ‘information logistics engine’ to get the right information to the right people at the right time. Effective management of the flow of information to, through, and from the PSF is key to a firm’s competitive advantage. 7. The ability to generate and commercialize new and unique value for clients systematically and continuously. Inventiveness and innovativeness cannot be enacted by the stroke of a pen. That said, inventors and innovators need a thick skin; good thing the best are bred with them. 8. A relentless focus on ongoing improvement. Focusing on continuous improvement means constantly searching for a better or best practice, implementing that practice, and then searching for another better or best practice. 9. Building an integrated one-firm philosophy. The best PSFs are well-integrated organizations. The best clients prefer to work with a mosaic of people, well-integrated, preferably across national and cultural borders. 10. Building, managing, and leveraging a collaborative mindset. No one player (individual or firm) can master everything. The best professionals and firms perform through others. ‘Collaborate to compete’ is an important mantra of the best of the best. For more, see https://lnkd.in/eZ-XYTZQ #professionalservicefirm #professionalservices #strategy #management #leadership

On 30 April 2024, the Takeover Panel Executive published a revised Practice Statement 31 (Formal sale processes, private sale processes, strategic reviews and public searches for potential offerors). In addition, the Panel also recently published a consultation paper proposing to narrow the scope of the companies subject to the Code, as well as an announcement of the publication of a revised version of the Code. In this piece, Memery Crystal Partner, Edward Baker, summarises these recent changes. #TakeoverCode #TakeoverPanelExecutive #PracticeStatement31

If you were fed up with enforced changes, there’s more!! It’s not me, honest! But changes are afoot and being led by the Economic Crime and Corporate Transparency Act. Not all the details have been released yet, but the act requires every company to provide more information, and that can be verified, and that it needs to be registered at Companies House. In fact, these are the largest changes to Companies House since 1844. What are the telling us so far? 1. That any required change will be communicated ahead of time so that there is an appropriate time to prepare and act. 2. The purpose of the changes is to make the information held at Companies House more reliable. 3. The role of Directors (those named at Companies House) will be changing, but they haven’t said how yet. 4. Companies House will have the powers to remove information they believe is spurious. 5. A registered email address will have to be given to ensure communication between them and you. Importantly this will not be made available to the public. 6. You will no longer be able to use a P.O. box as an address for Companies House purposes. 7. Financial information will only be able to be uploaded by approved software. 8. You will need to verify your identity if you are an owner or director in a business. There is more and if you want to look for yourself? Go to https://buff.ly/3TTr4Dx These changes affect all institutions that are registered with Companies House, but specifically; a) private limited companies, b) public limited companies (PLCs), c) limited liability partnerships (LLPs), d) limited partnerships (LPs), e) community interest companies (CICs) and f) overseas companies. If you need help navigating particular elements as more information becomes available, I’m happy to help. #business #smallbusiness #change #businesssupport