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Friday
Aug032012

30% increase from existing IFA relationships

Client: Legal & General
Industry: Financial Services
Age/History: Established in 1836
Size: c7000 employees
Client Contact: Miguel Ogilvia, Legal & General Business Club Director
Shirlaws Engagement: 2009 - present

"Considering those advisors where we had existing relationships: when they attended Shirlaws programme, our income has increased by 30%" - Miguel Ogilvie, Legal & General Business Club Director.


The Challenge

With the Financial Service industry facing significant reform through the FSA's Retail Distribution Review (RDR), many Independent Financial Advisors (IFAs) are concerned that their businesses will suffer as they are forced to adopt different business models.

As a major provider of Pensions, Insurance, and Advice, Legal & General wanted to support their IFAs through the reform, while also adding value and standing out as a leader in a changing industry.

In 2010/11, Legal & General engaged Shirlaws to build a programme that would help IFAs develop their business model through the transition, as well as strengthening their relationships with Legal & General.  The end result was the Legal & General Business Club.

Shirlaws was selected based on their business insight, industry expertise, plus their experience helping large corporates in situations where their growth is based on the success of entrepreneurial / SME channels to market.

As a result of the improved strength of the relationships, solid commercial returns and the very positive feedback from the participating IFA's, Legal & General plans to extend the Club's focus beyond RDR and to include a wider range of topics and business support services.

"We now have more mature conversations with our IFA's", says Miguel Ogilvie, Legal & General Business Club Director.  "Through our work with Shirlaws, Legal & General now has the capability to help them build their business, with our resources supporting their small business.  It is now easier for us to talk with them at a business, not just a product, level."

Results

Cultural

  • More, stronger, business-to-business relationships with Legal & General and among the IFA Club network
  • Improved capability to have business, not just product, conversations in partnership
  • Greater confidence in addressing and growing beyond RDR reform


Commercial

  • 30% increase in income from existing IFA relationships
  • Enhanced reputation within a cohort of growing, business-minded IFA's
  • Great business capacility within Legal & General's UK team

Download this Case Study as a PDF [176kb]

  

 

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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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    30% increase from existing IFA relationships - Shirlaws Business Performance Blog - Business Coaching for Entrepreneurs Shirlaws UK
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