Best Financial Services

Introduction Best monetary Services (BFS), a Canadian financial services firm founded in 1993, provides a descriptor of products among them correlative Funds, income tax return preparation, Guaranteed Investment Certificates (GICs), life restitution and retreat plans to a client base of 600 individuals. BFS needs to rec everywhere from a loss of one of its accounts in an already change 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 fork of the posit, ScotiaMcLeod lured this whole client with the prospects of better returns of the investment than those produced by BFS objet dart impressing future clients with additional services offered by the bank. This loss would allude the tax income and consequently the net income and profitability for the firm for 2008. The progeny of the bank competition was not a welc ome culture to a financial services firm in the heels of rest of regulatory barriers that allowed commercial banks, investment banks and insurance companies to enter into from each one others businesses. Analysis addicted the real possibility of reducing the companys income, the collapse and sole shareowner owner, Linda Best, had to replace one of her bakshish clients, in the 30% overtake tier of her client portfolio, with investments between $100,000 and $200,000. She considered two pickaxes.

The first option was to hire a Certified Financial Planner (CFP); the instant option was the purchase of an exis ting portfolio to development its client s! hipment and net 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, launch it on our website: OrderCustomPaper.com

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