In a world of higher inflation, if an advice business wants to maintain and grow its profits it may find it more effective to control its costs and increase the number of clients it can serve, writes Chris Jones
"We got a little ol' convoy, ain't she a beautiful sight?" sang CW McCall in the theme song to the 1975 movie Convoy. And indeed, given the current shortage of lorry drivers and the general supply chain crisis, spotting any convoy of heavy goods vehicles is probably still something to be celebrated. Christmas is saved. But labour and supply shortages have a knock-on effect. When you read reports of HGV drivers getting 40% pay rises, you know inflation is the topic of the day. The expected returns in our asset risk model are inherently real. This is partly because investing is defer...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes