Наша бизнес модель финансового консалтинга

Алексей Тараповский

19 Aug 202107:06

Summary

TLDRThe speaker discusses their business model, emphasizing their role as innovators within a traditional Anglo-American financial consulting framework. They explain the process starting with a paid personal financial plan, followed by the selection of financial products from vetted companies with which they have partnerships. The model aims to provide a full cycle of financial services to clients, including consultation on legal and tax matters related to investments. The speaker contrasts this with other models, such as the 'FYI' model that offers only personal financial plans without product recommendations, and criticizes models that prioritize sales over long-term client relationships.

Takeaways

😀 The company operates within a traditional Anglo-American financial consulting business model, focusing on innovation in technology while maintaining a conventional approach.
💼 The business model begins with creating a personalized financial plan for clients, which is a paid service and the first step in the client's financial journey.
💡 After the financial plan is established, the company selects specific financial products from authorized companies with which they have partner agreements, ensuring a conflict of interest is avoided.
🏦 The company places clients' funds in specific insurance companies, banks, and investment firms, providing a full cycle of financial services under one roof.
📈 In addition to financial services, the company also offers consultation on legal issues related to investments and tax matters, though not directly preparing tax returns or reports.
🌐 The company's model is preferred for its convenience and efficiency, especially when dealing with the nuances of opening accounts with foreign companies.
🔄 The script contrasts the company's model with the 'FEE-ONLY' model, where clients are only provided with personal financial plans and then must independently select companies and place their funds.
🚫 The 'FEE-ONLY' model is criticized for potential conflicts of interest and for not being widely adopted, including in Russia, due to its perceived limitations.
📊 The company's model is described as balanced and tested worldwide, avoiding extremes and aligning with the practices of most English and American financial advisors.
📋 The script mentions other models present in the international market, including a rigid model focused on immediate financial product sales rather than comprehensive financial planning.
🤝 The company emphasizes long-term relationships with clients, which are more challenging to establish with models that prioritize sales over comprehensive financial planning.

Q & A

What business model does the company believe in and aim to implement?
-The company believes in and aims to implement a traditional Anglo-American financial consulting model, focusing on being technological leaders while innovating within this framework.
How does the company define the initial step in its financial consulting process?
-The initial step is creating a paid personal financial plan for the client, which is a long-term, parameterized service paid for by the client.
What is the role of technology in the company's business model?
-Technology plays a significant role as the company is developing new technologies to be a technological leader in the industry.
After creating a personal financial plan, what is the next step for the client?
-The next step involves selecting specific financial products from particular companies that have been vetted, authorized, and have partnership agreements with the consulting firm.
How does the company ensure the selection of financial products is beneficial for the client?
-The company ensures this by having partnerships with companies they are familiar with and trust, which allows them to offer products that are in the best interest of their clients.
What additional services does the company provide beyond financial products?
-The company also offers advisory management, which includes managing the client's investments, and can provide consultations on legal and tax-related issues associated with the client's investments and assets.
How does the company differentiate its model from the 'FIOR' model mentioned in the script?
-The company's model provides a full cycle of financial services under one roof, whereas the 'FIOR' model involves creating personal financial plans and then sending clients to the market to independently select companies and place funds.
What are the perceived downsides of the 'FIOR' model from the company's perspective?
-The company views the 'FIOR' model as flawed due to potential conflicts of interest and the inconvenience for clients who have to independently manage their investments after receiving a financial plan.
What alternative business models exist in the international market, as mentioned in the script?
-There are other models, such as the 'FIOR' model and a more rigid model that focuses on immediate sales of financial products, similar to the models used by banks and investment companies.
How does the company address the complexity of working with foreign financial companies?
-The company leverages its experience and back-office expertise, having worked with these companies for years, to efficiently manage the complexities and nuances associated with opening accounts and managing investments with foreign companies.
What are the company's views on the balance between offering a comprehensive service and maintaining client relationships?
-The company believes in a balanced approach, offering a comprehensive service that includes a paid personal financial plan followed by the selection and management of financial products, which helps in building long-term relationships with clients.

Outlines

00:00

🚀 Innovative Technology and Traditional Business Model

The speaker discusses the company's belief in developing new technologies to be a technological leader while adhering to a traditional Anglo-American financial consulting business model. The model involves creating a personalized financial plan for clients, which is a paid service. After the plan is established, the company selects specific financial products from authorized and vetted companies with which they have partnership agreements. This ensures a full cycle of financial services for clients, including investment management and consultation on legal and tax issues related to their investments. The speaker also mentions other models present in the market, including the 'FEE-ONLY' model, which is less common and less favored due to potential conflicts of interest and inefficiencies in client service.

05:00

🌟 The Classic Model of Financial Consulting

This paragraph delves into the classic model of financial consulting, emphasizing the importance of a paid personal financial plan as the foundation for offering financial products. The speaker contrasts this with other models, such as the 'FEE-ONLY' model, which they consider flawed due to the lack of a comprehensive approach to client service. The company's chosen model is described as balanced and proven globally, with a focus on long-term relationships with clients. It also touches on the challenges of the 'FEE-ONLY' model, where the consultant's interest in sales can overshadow the client's best interests, making it difficult to establish trust and long-term partnerships. The speaker reaffirms their commitment to the traditional model, which they believe is most aligned with the company's values and the needs of their clients.

Mindmap

Keywords

💡Business Model

A business model is a conceptual framework that outlines how a company creates, delivers, and captures value. In the video, the company believes in developing new technologies to be a technological leader, yet they operate within a traditional Anglo-American financial consulting model. This model is central to the video's discussion on how the company approaches its financial services and client relationships.

💡Financial Planning

Financial planning is a process of meeting one's life goals through the proper management of financial resources. The script mentions that the company starts its client relationships with paid financial planning, creating a personalized financial plan. This is a key service that sets the foundation for the company's client engagements and is a crucial part of their business model.

💡Personalized Financial Plan

A personalized financial plan is a tailored strategy that addresses an individual's financial goals and circumstances. The video script emphasizes that this plan is created for each client and is a paid service, indicating the company's commitment to offering customized solutions and the value they place on their expertise.

💡Financial Products

Financial products refer to commodities or services provided by financial institutions, such as investments, insurance, and loans. The script discusses how, after creating a personalized financial plan, the company selects specific financial products for clients from authorized and partner companies, showcasing their role in product curation and recommendation.

💡Partnership Agreements

Partnership agreements are formal contracts between two or more parties to carry out a mutually beneficial business activity. The video mentions that the company has partnership agreements with certain companies, which allows them to offer their clients access to a range of financial services and products, highlighting the company's network and strategic alliances.

💡Consultative Management

Consultative management involves providing guidance and oversight to ensure the success of a project or business strategy. In the context of the video, the company not only offers financial planning but also consultative management of the client's investments, indicating a comprehensive approach to financial services that extends beyond initial planning.

💡Conflict of Interest

A conflict of interest arises when there is a divergence between an individual's or organization's private interests and their professional obligations. The script refers to a model called 'FYI' (presumably a misinterpretation of 'FIFO' or 'fee-only' model), where financial consultants avoid conflicts of interest by not promoting specific companies' products, contrasting with the company's model that involves product recommendations.

💡Fee-Only Model

A fee-only model is a type of financial advisory service where the consultant charges a fee for their services but does not receive commissions from the products they recommend. The video contrasts this with the company's model, suggesting that while the fee-only model avoids certain conflicts of interest, it may not be as convenient or efficient for clients as the company's preferred model.

💡Regulatory Compliance

Regulatory compliance refers to adherence to laws, regulations, and rules relevant to a business's operations. The script mentions that the company's model is largely in line with Russian legislation, indicating an awareness of legal requirements and the importance of operating within a compliant framework.

💡Back-Office Processes

Back-office processes are the administrative and supportive operations necessary for a business to function effectively. The video script discusses the importance of being familiar with back-office processes when dealing with foreign companies, suggesting that the company's experience in this area is a significant advantage in providing efficient services to clients.

💡Authorized Partner

An authorized partner is a business or individual that has been granted official permission to represent or work with another company. The script indicates that some foreign companies will only open accounts for clients referred by authorized partners with significant business volumes, emphasizing the company's status and its ability to facilitate client access to international financial services.

Highlights

The company believes in developing new technologies to be a technological leader in the industry.

They aim to be innovators within a traditional Anglo-American financial consulting business model.

The financial consulting model begins with creating a paid personal financial plan for clients.

The personal financial plan is a long-term, parameterized service paid for by the client.

After the financial plan, the company selects specific financial products for clients from authorized companies.

The company has partnerships with financial institutions to offer clients a range of services.

They provide full-cycle financial services to clients, including investment management and consultation.

The company also offers non-financial services such as legal and tax consultation related to investments.

The model is similar to that used by most English and American financial advisors.

There are other models on the international market, including the FIOR model, which is less common.

The FIOR model involves creating personal financial plans without promoting specific companies' products.

Some financial consultants believe the FIOR model avoids conflicts of interest by not promoting specific companies.

The company's model is more convenient for clients as it provides a full range of services in one place.

The company has expertise in managing clients' portfolios and is familiar with the processes of various companies.

They save clients time by being familiar with the processes of opening accounts, especially with foreign companies.

The company's model is balanced and has been proven effective worldwide, without extremes.

The company's model complies with Russian legislation and is suitable for the local market.

There are other models that focus on selling financial products immediately after an initial free consultation.

Some models may prioritize sales over the long-term interests of the client, leading to conflicts of interest.

The company's chosen model avoids such conflicts and focuses on building long-term relationships with clients.