“Managing a change in strategic direction”
A Linstock client for nine years, APFA (formerly AIFA) is the largest trade body for financial advisers in the UK (www.apfa.net). In 2011 we advised the organisation on its management of a strategic review, as the organisation and its members underwent significant organisational and regulatory change in response to the Retail Distribution Review, which changes the way financial advisers operate. Working with the executive team and council, APFA’s strategic review was reported positively and vocally supported by stakeholders.
To communicate the need for a strategic review of APFA’s direction due to regulatory change in UK and Europe and ensure that members were included in the process and informed of progress
Linstock arranged a two day briefing session for the Director General with key media to explain the scope and objectives of the review clearly. Prior to the interviews Linstock worked closely with the Director General on messaging and a communications process that was used by both the executive management team and the elected APFA Council. Updates were provided to the media during the process, involving independent Chairman Lord Deben, to ensure the review was seen as being open and transparent.
To increase the review’s success, regular communication with members was vital, as was hearing their views. To do this an online member survey was completed and a series of town hall meetings with key stakeholders took place.
The review and its eventual outcome were broadly supported by the industry and key stakeholders who provided vocal backing in the print and online media. Positive coverage across all adviser trade publications including news, features and several supportive editorial comment pieces helped support and repeat the review’s messages across the profession’s influential trade media.