With Retail Distribution Review (RDR) soon to be introduced, the IFA sector is an area that can substantially benefit from outsourcing. This is through the need to save costs and come up with new techniques such as time recording systems. With the December 2012 deadline fast approaching, the successful IFA businesses will be the ones that take pre-emptive action to cut costs and succeed in achieving better value out of their spend.
The FSA have advised that, “We are now 18 months away from the RDR deadline and all firms should be assessing their business models and making the necessary changes. There may be a number of considerations that a firm will need to address when making the transition, for example, consider the impact on your back-office system”. This means that IFA businesses need to focus on getting the best possible value out of their finance functions, for the least possible cost. RSM Tenon can help you achieve this.
Our services include:
- Core bookkeeping and management accounting
- Assistance with the introduction of time recording systems
- Reporting from your own systems including, for example, 1st Software
- Cashflow forecasting
- Outsourced sales and marketing support through our business partner t4 marketing.
In providing services to IFA businesses our focus is on achieving the following:
- Cost savings for your business
- High quality management accounts providing information to allow strategic decision making
- Finance director input enabling better understanding of the financial side of the business