Case study – Professional intermediary relationships

Background

We have an existing relationship with a firm of Chartered Accountants. Over many years we developed a portfolio of clients mainly involving corporate pensions to acquire commercial property. This was a long established yet ad-hoc relationship that did not fulfil its potential. The Partners were also aware that financial services were being used aggressively to target their key clients by competitors using ‘in house’ advisers.

Challenges

The main problem was to decide how to significantly raise the profile of financial services and lift the confidence of the key client facing individuals to ensure they could identify opportunities.  The Partners were also concerned as to how any increased activity would impact on their main services.

What Taylor Patterson did

• We identified the key activities of the Practice – this established the initial training required which also qualified for CPD.
• The Practice was encouraged to regard Taylor Patterson as an addition to the existing service menu. This was key to the success of the exercise, with the clients gaining immediate confidence from the endorsement of the Partners and staff.
• The specific needs of the Practice were accommodated within the Taylor Patterson marketing strategy, thus ensuring a flow of relevant information to key clients.
• We provided full administration support, virtually eliminating any additional burden on the Practice. A dedicated Adviser was appointed, initially spending one day a week at the intermediary’s office. This enabled a range of topics to be discussed on a one to one basis, and provided the opportunity for the Adviser to become familiar with the individuals and how they preferred to work with their clients.

The Results

A combination of pro-active marketing and a regular presence provided the platform for this long-term initiative to pay dividends, reflecting the confidence instilled in the staff on the back of a clear strategy and a consistent approach to dealing with their clients.  The resultant success can be measured not only in a highly profitable additional service, but also in terms of ensuring that clients are fully briefed on relevant issues.

Taylor Patterson assumes full responsibility for advice provided to clients and the compliance requirements of the FSA.