Best Financial Services

Introduction Best fiscal Services (BFS), a Canadian monetary services firm founded in 1993, provides a var. of products among them correlative Funds, income tax return preparation, Guaranteed Investment Certificates (GICs), life redress and retreat plans to a client base of 600 individuals. BFS needs to rec all over from a loss of one of its accounts in an already virtuous market. BFS suffered a loss of one of its major customers, belonging to the 256 clients who had holdings determine over $100,000, to the unexpected emerging competition from Scotia Bank. The investment class of the posit, ScotiaMcLeod lured this whole client with the prospects of better returns of the investment than those produced by BFS eyepatch impressing future clients with additional services offered by the bank. This loss would carry on the tax income and consequently the net income and profitability for the firm for 2008. The payoff of the bank competition was not a welcome suppurati on to a financial services firm in the heels of mitigation of regulatory barriers that allowed commercial banks, investment banks and insurance companies to enter into each(prenominal) others businesses. Analysis addicted the real possibility of reducing the companys income, the begetter and sole shareowner owner, Linda Best, had to replace one of her bakshish clients, in the 30% surpass tier of her client portfolio, with investments between $100,000 and $200,000. She considered twain pickaxes.

The first option was to hire a Certified Financial Planner (CFP); the instant option was the purchase of an existing portf olio to improver its client shipment and n! et income from a retiring financial planner in the area that she knew. First Option - Hiring a CFP: |Pros: |Cons: | |This is an important performer that raises the probabilities of having a |After losing a top client, Linda looked for some new...If you regard to get a full essay, society it on our website: OrderCustomPaper.com

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