Best Financial Services Inc,

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IntroductionLinda Best, a Certified Financial Planner (CFP) from Sarnia, Canada is the founder and sole shareholder of Best Financial Services Inc. which was established on January 1, 2001. Sarnia, the largest city in South Ontario, bordered the United States and was heavily populated with aging baby boomers and blue-collar workers. Best Financial earned its revenues mainly from blue-collar workers nearing retirement. Best financial had formed strong relationships with many clients throughout Sarnia and managed over 1000 financial plans allowing a steady revenue and profit growth. The key services provided by Best Financial are risk management, tax preparation and professional money management. The company’s Assets under Management were…show more content…
* The various products of the financial planning industry were targeted towards baby boomers or blue collar employees so strategies and products could be developed with the target market as the young people below the age of 25.Q2. Analyze Best Financial’s strengths and weaknesses. How will these corporate capabilities affect the growth strategy?Answer:The strengths and weaknesses of Best Financial are:Strengths: * In one of the biggest cities in Southwest Ontario, Sarnia had an average population of 70000 with the average age of 43.2 years which fell in their target customer segment, hence, their current focus on the clients in that age range was one of the strengths of Best Financial. * The domain expertise of Linda Best was one of the main strengths of the company as she had about eight years of experience in the financial services industry. She got her CFP certification very early on in her career and had been assisting clients in making important financial decisions since then. Another employee, Mary Thompson had been in the financial services industry and had a thorough knowledge of Canadian and US Income tax and of mutual funds. * Best Financial had formed good personal relationships with many clients and managed over 1000 financial plans. They had a sturdy client list with some of the clients, in the same household , taking more than one financial plan. * Their

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