Practice papers personal financial services in a digital age

Abstract

AbstractCo‐operative Bank Financial Advisers Ltd (CBFA) is a wholly‐owned subsidiary of the Co‐operative Bank plc. Established since 1972, it specialises in the provision of independent financial advice to personal and corporate customers across the financial services spectrum. Based in Stockport in the north‐west of the UK, CBFA conducts its business via a nationally‐based team of independent financial advisers (IFA), offering a bespoke service to customers at a mutually agreed time and location—usually bank premises, business premises or in the client's own home.In the late 1990s, CBFA faced a crisis. A number of marketplace challenges threatened the long‐term viability of its business. In this paper, one of the management team members describes how her organisation used its understanding of customer decision‐making—backed by good customer research—to regain its footing in a difficult and competitive marketplace. Copyright © 2003 Henry Stewart Publications.