An enormous range of prices
One of the things I’ve found in my benchmarking studies is the huge range of prices in how much firms are pricing for automatic enrolment.
I’ve come across many who don’t know how to price it and are doing it for free! I have heard of many firms charging approximately £500. I have heard of firms charging £2,000 to £3,000. And I have even heard of one firm charging £6,000.
So, given the huge range - from FREE to £6000 - it’s very clear that as a profession, we don’t know how to price this opportunity. It’s very clear that some firms have found a better way; they are more comfortable about their pricing and are getting better results.
Auto enrolment is such a big opportunity for the UK accounting and bookkeeping professions but we need to have a system to price it properly… otherwise we risk...