The challenge

Two major Independent Financial Advisor companies (IFAs) – Towry Law and JS&P – merged in 2006, creating one of the largest independent businesses in the sector.

As part of reviewing their combined Employee Benefits (EB) and Pensions Advice proposition for clients, Quadrant was selected to evaluate the market requirements and develop the most effective strategy and proposition for employers and pension funds.

What did we do?

Our work concentrated initially on reviewing the EB market and employee needs, and included new research we conducted into employers’ current schemes and their future EB requirements.

We carried out depth interviews and client team workshops, to provide input to strategy and proposition development, and market mapping to establish the main service providers and key elements of the value chain for employee benefits and pensions.

Using our proposition development methodology, we concluded that the existing Towry Law proposition was too broad and not sufficiently focused on client requirements. We created a building blocks approach to demonstrate how the proposition elements could come together to form a compelling rationale.

What was the breakthrough for Towry Law?

The breakthrough was a jointly arrived at understanding that a fee based proposition on its own was not motivating for clients. Cost benefit was the key, demonstrating a combination of value and results.