Best Financial Services

Introduction Best pecuniary Services (BFS), a Canadian pecuniary services firm founded in 1993, provides a compartmentalization 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 pure market. BFS suffered a loss of one of its major customers, belonging to the 256 clients who had holdings precious over $100,000, to the unexpected emerging competition from Scotia Bank. The investment severalize of the posit, ScotiaMcLeod lured this whole client with the prospects of better returns of the investment than those produced by BFS turn impressing future clients with additional services offered by the bank. This loss would refer the tax income and consequently the net income and profitability for the firm for 2008. The outcome of the bank competition was not a welc ome breeding to a financial services firm in the heels of ease of regulatory barriers that allowed commercial banks, investment banks and insurance companies to enter into for each one others businesses. Analysis addicted the real possibility of reducing the companys income, the break dance and sole shareowner owner, Linda Best, had to replace one of her bakshish clients, in the 30% straighten out tier of her client portfolio, with investments between $100,000 and $200,000. She considered dickens pickaxes.

The first option was to hire a Certified Financial Planner (CFP); the instant option was the purcha se of an existing portfolio to change magni! tude its client shipment 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, rate it on our website: OrderCustomPaper.com

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