How to Market your IFA Business

by PA Workstation on 13/09/2013

How to Market your IFA business

Every business needs to invest in marketing in order to reach its target audience. However, when budgets are squeezed and business is suffering in a bad economy, the first thing to go is often marketing. In some cases – particularly where sole traders are concerned – marketing disappears entirely. In other cases, it is squeezed considerably.

This is a shame, because in many cases a lack of marketing leads inexorably to a lack of business. If people do not know you are there, they won’t come to you when they need your service. This applies just as much to IFA marketing as it does with any other type of business.

If you are an independent financial adviser, it makes sense to review your IFA marketing plans on a regular basis. They will certainly change, but they should never shrink. This is one area of your business where you need to be pro-active, so you can focus on getting the best results and a constant stream of potential new clients. If you don’t do this you might end up losing business and finding your competitors are doing far better than you are.

Of course, a business can have a marketing plan and yet gain very little from it. Until you try various forms of marketing you won’t know which formats work best for you. But from our experience we have helped many businesses in Financial services including Close Brothers, Simply Biz, Rayner Spencer Mills and Henderson Rowe all of which use our state of the art e-mail marketing platform which ensures they are amongst the top organisations in the sector when it comes to customer communications and new business acquisition.

 “At Simply Biz we believe that when others look to cut their marketing budget, this is exactly the time when we need to increase ours! Delivering a strong consistent message is key to our success. Our business centres on strong, regular communications and e-mail marketing helps us achieve this effectively”.  Matt Timmins  – Joint Managing Director SimplyBiz

Communication is Key, not just the message but the way in which it is delivered, MyREACH can help. With the support of a dedicated account managers MyREACH can help you achieve your goals. While professionalism counts for an awful lot, you cannot underestimate the power of IFA marketing either. The more seriously you take your marketing, the easier it will be to focus on getting successful results all the time. You can always get rid of marketing methods that don’t work but why not give MyREACH a try as many leading in firms in the industry do.

Contact Richard Baker UK Sales Manager for more information

Tel: 07540723241



Gina Antoniou is the director of PA Workstation offering administrative support to Independent Financial Advisers and Small to Medium Sized Enterprises. Contact Gina to find how a VA can benefit your business.




The 1st January 2013 will see Retail Distribution Review changes come into force, leaving the client who has a small pension fund no longer able to receive advice from their IFA in a cost-effective way.

Forthcoming FSA rules will pose a dilemma for the client:

  • Do they pay fees which are not commensurate with the size of their fund?
  • Do they manage their own affairs?

The reality of advice in a post RDR world is confusing for the client but, with support from their IFA, the dilemma is answered, enabling the IFA to continue to provide financial advice to the client.  The IFA now has access to an online pension administration service for clients where it is not feasible for them to pay for annual reviews and ongoing administration; therefore maintaining the confidence of those clients affected by Retail Distribution Review changes.  Go to for detailed information.

Having researched the whole-of-market, Scottish Life, the award-winning pension specialist company, is the natural selection for RDR eSolutions.  With their RDR friendly personal pension plan and Governed Portfolio Lifestyle fund management style, Scottish Life provides the ultimate default pension. 
Ewan Smith, Managing Director of Scottish Life says ‘Scottish Life is delighted to have been selected by RDR eSolutions, recognising our excellent service and robust investment governance process, as well as our commitment to the intermediary market.’
How does RDR eSolutions meet FSA Regulations?

RDR eSolutions meets all the necessary ‘Treating Customers Fairly’ requirements, is completely fee based and in line with the forthcoming Client Agreed Remuneration requirements, as set out by the Financial Services Authority.

Is this the right move for a client?

The stringent administration process that RDR eSolutions provides for the IFA will not accept a client if it is not in the client’s best interest.  The online application will only allow completion if it is in the clients best interest and not detrimental to their existing arrangement.  This system is of paramount importance in protecting both the IFA and their client.

What are the costs and how will they benefit the client?

RDR eSolutions service is completely fee based, in line with Client Agreed Remuneration requirements and will charge a single fee of £150.00 to cover the cost of compliance, the transfer process and administration.  The client will continue to receive cost ongoing annual reviews and administration for £120.00 per annum, both paid directly from the client’s pension plan. 

There will be no additional charge for any regular contributions.

How much work is involved for the IFA?

The straightforward online process for the IFA introducing a client is a simple, easy to follow procedure; visit to complete a sample case and see how it works. 

The main administration, compliance requirements, attitude to risk calculations, fund selection etc are completed by RDR eSolutions.  RDR eSolutions raise all the necessary documentation required by the IFA and completes the transfer process, leaving the IFA secure in the knowledge that their client has received and will continue to receive a professional service.

What are the benefits to the IFA?

The IFA will be remunerated by RDR eSolutions for each completed case, with an annual remuneration for every year that the pension fund remains with RDR eSolutions.  RDR eSolutions guarantees, under current legislation, not to transfer the client away from their chosen pension plan provider, Scottish Life.  RDR eSolutions will encourage the client to contact their IFA should they require financial advice in the future; the IFA’s contact details will appear on the client’s half yearly and annual statements.

Sales and Marketing Director, Paul Hambridge says ‘We are proud to announce our launch as RDR eSolutions offers the ideal solution to an imminent problem for the Independent Financial Advisor with small fund pension clients, under the new RDR criteria.  Every step of establishing a positive way forward for the future has been closely scrutinised and we are satisfied that we provide a clear answer to the Retail Distribution Review.  Our objective is to be the IFA’s pension administration outsourcing partner of choice, striving for service excellence in providing solutions for the IFA and their client. 

RDR eSolutions processes the client details, raises the necessary documentation and information for Barnes IFA Ltd, who will provide the appropriate advice directly to the client.  RDR eSolutions will be responsible for the client’s ongoing pension review requirements. 

For further IFA information about RDR eSolutions service visit

All press enquiries to: Ewen Barnes 01202 567936.  Email:

IFA contact: Paul Hambridge.  Email
Telephone 07884 – 310196 Mobile 01626 – 866423

RDR eSolutions Ltd. Stephen House.  23a Bargates.  Christchurch.  Dorset.  BH23 1QD.
RDR eSolutions Ltd is a trading name of Barnes IFA Ltd, authorised and regulated by the FSA no 572136.


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