Examining your service proposition

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Examining your service proposition
Jack McVitie LEBC Group
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LEBC GroupEstablished 8 Years Ago55
Advisers10 Locations110 Staff
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Historic Revenues
6.66M
2.45M
36
8.11M
3.34M
41
8.35M
4.04M
48
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Professional relationships prospering through
knowledge, experience and mutual trust
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CORPORATE CLIENTS
INTERNAL Ethos Values
Professional relationships prospering through
knowledge, experience and mutual trust
PRIVATE CLIENTS
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Quiet Conversation is the way we do business

• Provides opportunity to explain how LEBC is very
  different from generic client perceptions and
  very different from other advisers
• Excellent platform to sell service and advice
  in the context of TCF and RDR

Immediately creates an impression of a civilised
and balanced two-way relationship
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Progress

• TCF Gap analysis and implementation plan Jan
  2007
• TCF Conference March 2007
• Working Groups on Service and Investment
  November 2007 with final report and Board
  Decisions April 2008
• Implementation of service and investment
  developments January 2009 with pilot from
  September 2008

Full involvement across the business to ensure
understanding and operation of TCF through
quiet conversation
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Service Proposition Quiet Conversation
Corporate and Individual Planning

• Ongoing planning meetings with established
  clients
• We let you know if/how your assets and policies
  we take care of have changed
• You let us know what has changed
• We outline how the world/legislation has changed
  since we last had a conversation
• Together we discuss any changes that need to be
  made to any of your financial plans as a result

Recurring revenue pays for this service
additional work is project based fee our focus
is upon these existing clients
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Service Proposition Quiet Conversation
Corporate and Individual Planning

• Our first quiet conversation with prospective
  clients
• Together we establish and define the basis of our
  relationship
• We gather and review all your relevant financial
  information.
• You let us know about your aims, needs and
  aspirations
• We outline how the world/legislation is and how
  it impacts
• We discuss any changes that need to be made
• Together we commit to a process of regular review

Project fee, client agreed remuneration pays for
this work and the aim is to turn these into
existing clients
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Service and Pricing tailored to individuals
not groups or segments
Guidelines for recording - client requirements
- what will be delivered - how much it will cost
Guidelines for pricing - ranges and levels -
sign off for one-off variations

• SERVICE AGREEMENT
• scope of service
• approach to charging and payment
• details of initial and ongoing service what
  and when
• specific details on charges and payment

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Group Policy

• Investment is considered an integral plank in our
  service proposition
• The client experience must be a consistent and
  well defined process
• Focussed support will be provided to enable
  delivery of a positive client outcome

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For investment this means.

• Well defined risk analysis process
• Well defined asset allocation process which is
  matched to client risk
• Clear and documented approach to fund selection
  and review
• Review process for clients who are being offered
  a regular review and investment update service
• Absolute consistency across the business and all
  the advisers

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LEBC TCF Provider GroupInvestment Model

• Three key segments
• Clients who require Investment Solutions (A)
• Clients who want portfolio determination (B)
• Clients who want positive engagement with their
  investment portfolios (C)

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Investment Choices
LEBC Investment Solutions
LEBC DFM Solutions
LEBC Advisory Solutions
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TCF leads to improved outcomes for clients

• Confident consumers to enable them to take
  informed decisions
• Products/Services meet needs of customer and are
  targeted accordingly
• Clear information clients informed before,
  during and after sale opportunity to ask
  questions
• Advice is suitable
• Products perform as clients have been led to
  expect associated services are acceptable
• No unreasonable barriers to change product,
  switch provider, or make a complaint

These outcomes lie at the core of the FSA
approach to TCF
They have direct implications for how risk is
dealt with and how monies are invested
They imply consistency across the business
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