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4 Tips To Help You Increase Customer Loyalty

What would your business look like if you were able to increase your retention rates by 10 or 15 percent? How much more profitable would you be? These are questions worth considering as you start fresh in 2021.

What Makes a Loyal Customer?

Customer loyalty is something that businesses have been after for decades. And in today’s competitive environment, it’s something that’s harder to obtain than ever before. Today’s customers – particularly younger consumers – are less brand loyal and tend to switch between brands they see as “basically the same.” However, loyalty is still something that can be achieved if you’re committed enough.

Customer loyalty is typically the result of a proprietary blend of price, value, experience, quality, convenience, notalgia, and expectation. And in the world of social media, there’s also a degree of social acceptance involved. (“What will people think?”)

By cultivating loyalty, you ultimately increase profitability Read the rest

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Third of UK children concerned about retirement

Nearly a third of schoolchildren are concerned about saving enough for retirement, according to a new survey of young people.

Despite retirement being 50 years away or more a survey by Scottish Widows found that more than a third of school-aged children (37%) were worried about managing their finances when they are older.

At the ages of 11-14, nearly a third of pupils (30%) say they are already worried about saving enough for retirement. This rises to nearly four in 10 (39%) 15-18-year-olds.

More than eight out of ten (87%) young people thought they should be taught about pensions to prepare them for adult life.

A third of all children (32%) say retirement is something they will “definitely” save up for when they are older. This was a higher percentage than those planning to put money aside to start a family or get married.

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The research uncovered that

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Improve Your Business Finance This 2021

Across the globe in 2020, millions of businesses were financially impacted from the current pandemic, which is why planning ahead for the full 2021 financial year for your business is crucial.

You may think it’s planning far ahead, but with these unprecedented times, thinking proactively about your business’s future is the right thing to do. Even more when looking at business finances as a whole.

Can Your Broaden Your Business Niche? 

Now more than ever, we have seen businesses adapt and change to further enhance the profits they can make.

This step is more towards how you can adapt your business in a way that profits can be potentially raised whilst fitting in with the theme of your company.

For instance, many businesses have moved online as well as already being present on the high street, but especially if you look at the current situation in the United Kingdom, enforced … Read the rest

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FSCS declares 13 firms in default in 2 months

The Financial Services Compensation Scheme (FSCS) has declared 13 firms in default during November and December including several wealth management and Financial Planning firms.

A declaration of default by the FSCS opens the door to compensation for clients who can now submit claims to the FSCS.

Among the firms declared in default in the past two months are Optimus Wealth Management Limited (London EC1), Ober Private Clients Limited (Manchester), Walker Woodhead Financial Planning Limited of Bury, Lancs and Dexia PAM Limited (formerly Pembroke Asset Management) of London SE1.

Many of the firms went into administration or liquidation some time ago.

The full of firms in default is below:

November 2020 – 9 firms

  • Barnbeck Limited t/a Brecks Saab, FRN: 312552, Great North Way, Nether Poppleton, York, North Yorkshire YO26 6RB
  • Dexia PAM Limited formerly Pembroke Asset Management Ltd t/a Day Hartley & Pembroke Limited, FRN: 116383, Shackleton House, 4 Battle
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Young Interior Designers Bring Life To Interior Design

Young interior designers bring much in the way of authenticity and innovative trends when it comes to the world of interior design. The youthful spirit pervades innovations in this field. There are a number of ways in which young designers are bringing new ideas to the table.

We will discuss some of these in detail below.

Farm Themes.

Another young trend in interior design is the farm theme. This theme features farm-themed items like farm print wallpaper and pillows embroidered with images of farm animals. Another common feature of this theme is the usage of a barn door for accent decoration.

The farm theme features pastel colors and rustic colors, as well. Flower arrangements are used in this theme, too. There is ample usage of pastels, specifically in window draperies. You can find this theme in the interior design projects of many young designers.

Cottage Core.

Cottage core is … Read the rest

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Editor’s Column: Time to kick the gloom into touch

 

So are 4,000 regulated firms really going to collapse this year as the FCA has warned this week could happen?

The short answer is probably not although the FCA’s warning should be taken seriously.

There’s no doubt that while Financial Planning has done remarkably well since lockdown that’s not a universal experience and many financial services firms are suffering to varying degrees.

Many regulated firms have been hit. Indeed few of the companies we cover have reported anything but a bumpy ride over the past nine months. Where I disagree with the FCA is the suggestion that thousands of firms could fail this year because they probably won’t.

According to the FCA’s Coronavirus Financial Resilience Surveys published this week 59% of regulated firms have seen their income hit during the pandemic with some of these seeing income drop by a quarter.

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The FCA’s survey suggested that 4,000 firms 

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How Younger Workers Can Mentor Older Ones And Move Companies Forward

by Rod Robertson, Managing Partner of Briggs Capital and author of “Winning at Entrepreneurship: Insiders’ Tips on Buying, Building, and Selling Your Own Business

Mentoring usually refers to a manager, executive, or experienced employee guiding a younger person in the workplace, helping them acquire knowledge and new skills that foster professional growth.

But with the expanding role of technology in today’s rapidly evolving business climate, a role reversal sometimes takes place – reverse mentorship. That is, older employees are paired with younger ones who teach them about technology – a strong suit for millennials and Gen Z workers, generations who grew up with technology.

Reverse mentoring can be a plus for businesses in bridging generation gaps and knowledge gaps, and also a lifeline for older workers who otherwise might get phased out. The older people better pay attention to these young people and find a mentor so they … Read the rest

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Mattioli Woods client assets reach £10bn

Wealth manager, pensions and employee benefits firm Mattioli Woods’s total client assets have hit a milestone £10bn, according to its most recent trading update.

Gross discretionary assets under management hit £2.9bn.

The trading update was issued in advance of its interim results for the six months ended 30 November 2020, due to be announced on 9 February 2021.

The firm said it is in a strong financial position with £18m of cash at the end of the period.

During the period, Mattioli Woods completed its £25m takeover of private client firm Hurley Partners. It has acquired a number of wealth managers, Financial Planners and pension firms in recent years.

The trading update said Hurley Partners is integrating and performing well.

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Ian Mattioli MBE, chief executive of Mattioli Woods, said: “The first six months of this financial year saw a continuation of the economic and political uncertainty that was

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Why A Vaccine For COVID-19 Won’t Restore Small Businesses Overnight

by Terry Monroe, founder and president of American Business Brokers & Advisors (ABBA) and author of “Hidden Wealth: The Secret To Getting Top Dollar For Your Business

The vaccine for the COVID-19 virus recently began shipment. The Wall Street Journal states it will take until sometime in March of 2021 to vaccinate the first 100 million individuals with the highest priority of getting the vaccine. That would leave well over  200 million Americans still in need of the vaccine as we head into spring.

The stock market is doing very well as it hovers around 30,000 – an unbelievable achievement never seen before, even though millions of people have lost their jobs and people continue to lose their jobs on a daily basis. The stock market is based on the theory of expectation, and what it is telling us is that with a vaccine, the economy will Read the rest

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Newton hires Aviva Investor’s ex-CEO as new head

Newton Investment Management, part of BNY Mellon Investment Management, has appointed former Aviva Investors CEO Euan Munro as its new chief executive.

The appointment is subject to Financial Conduct Authority approval.

Mr Munro will join Newton in June and will report to Hanneke Smits, CEO of BNY Mellon Investment Management.

Earlier this week Aviva appointed insider Mark Versey as the new chief executive of its Aviva Investors division.

Prior to Aviva Investors Mr Munro was head of global multi-asset and fixed interest investing at Standard Life Investments. He joined SLI as an inflation-linked fund manager from Scottish Provident in 1995 and is a Fellow of the Faculty and Institute of Actuaries.

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Euan Munro, chief executive officer designate of Newton, said: “This is an exciting time to be joining Newton – a global asset manager full of talented people, high quality investment solutions and an incredibly strong heritage in

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