The tool works across six steps, enabling users to: determine the cost of servicing clients; establish a client servicing proposition; understand the potential benefits of client segmentation; model potential revenues; forecast how revenues might evolve over the next three years; and consider the factors that influence how a practice is valued.
A newly-created Adviser Centre also offers a suite of educational materials, guides and case studies to help evolve businesses and support client meetings.
Tony Stenning, BlackRock’s head of UK retail, said advisers transitioning their business may be uncertain about three key areas: the level of fees they should charge; defining their value proposition to clients; and how their revenues will be affected.
He added: “We have drawn on the experience of some fee-based advisers from both the UK and the US to build this tool.
“Based on these insights, we aim for our support to be practical, simple to use and interactive. The tool will help advisers to test out different fee and servicing scenarios in order to get a clear picture of what will be most suitable for their own businesses going forward.”
