In conversation with advisers: Where should the initial focus be - costs and client planning?

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 Kerry Nelson - Nexus Financial
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Kerry Nelson - Nexus Financial

Partner Insight: Flora Maudsley-Barton, managing director of Parsonage Financial and Kerry Nelson, managing director of Nexus Financial met in London recently to discuss the topic of costs and client planning.

In the first video of the series (see above), Julian Marr, Editor of Professional Adviser talks to Flora Maudsley-Barton (Parsonage Financial) and Kerry Nelson (Nexus Financial) about their passion for financial planning and what to focus on when a client walks through that ‘proverbial door.'

Kerry Nelson says: "One of the things you need to look at is whether the proposition is scalable, as your client bank builds up, and their own finances build, you want a proposition that moves with them as well."

In-house or outsourced?

Nelson believes it is almost impossible to do everything for the client in-house, a point she reached several years ago: "I had a realisation that I couldn't do everything on my own, as something would ‘give.' It also doesn't help you as a business and the client at the end of the day, because it puts them at risk if something happens to you."

Maudsley-Barton is open about the idea of outsourcing, as a means of helping the client further [as part of their investment solution]: "We start with what is going to be the easiest way to help the client - if it is an outsourced single-fund solution and we can get that for the client at a low cost, so that is an option for the client."

Ultimately, Nelson thinks it is important to ‘keep things quite straightforward for yourself.'

Nelson says: "I am very passionate about investment, but there are only so many hours in the day… going forward, it is important to have a clear strategy: how it's going to work for you and your client's business, before you start that proposition."

 

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