Compliance

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The Financial Advice Profession: Are we there yet?
by Tony Vidler It has been impossible to ignore the DoL “fiduciary rule” news out of the States in recent weeks. It has been the dominant story in financial services, and clearly the jury (in the form of market participants) are still divided as to whether it is enough, or insufficient, or perhaps a complete […]
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Being There. Maybe that is what Advisers are not doing well.
by Tony Vidler I’ve just been reading through a very interesting piece of research that came out of the last census here in NZ, compiled by Statistics NZ, and it immediately highlighted some problems in our process as advisers that suggest we may be missing the mark with many consumers.   The key statistic that […]
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The Problem Is What We Say Is Not What They Hear
by Tony Vidler Whether we like it or not there is always price resistance in delivering financial advice, and how we present our service is a large part of that problem.  It doesn’t have to be…we just need to think through the differences between “what we say” and “what they hear”. I often hear planners […]
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Professional Development For Financial Advisers Requires More Than Academics
by Tony Vidler        One of the positive changes for financial advisers in this part of the world in the last year was a broadening of what can be considered Continuing Professional Development (CPD). Now, instead of solely focussing upon technical learning, we have a regime where authorised advisers have to map out their own […]
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Financial Advice: You CAN Be Compliant Without Being Dull
by Tony Vidler        The Annual Review process for financial advice clients is often seen as a rather hum-drum thing by the clients themselves, and getting them to engage in it can be a real challenge for advisers.   It doesn’t have to be of course. With a little imagination it can be positioned as […]
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How to balance client-facing time with practice development
by Tony Vidler A genuine challenge for advice firms right now is how to find the time to deal with clients as well as do all the work necessary to lift standards and improve business systems. The pressure is constant: the client demands are increasing and relentless, as are the expectations of other external stakeholders […]
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Complaints: Know when to fight…or just “Fix It”
by Tony Vidler        Customer complaints are a fact of life.  It is virtually impossible to run a service business where everyone is happy 100% of the time, as human beings are involved and they are unpredictable creatures.  The art of good customer complaint handling is knowing when to fight and when to just fix it. […]
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Would you bet your career on Paper, Scissors or Rock?
by Tony Vidler I still vividly recall getting that phone call from the complaints authority because a client alleged that I had misled them.  Unless you’ve experienced one of those calls it is virtually impossible to describe the sinking feeling and immediate sense of paranoia… …and so begins the game of Rock, Paper, Scissors. Client […]
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Are Advisers Compliance Fears Costing Them Clients?
by Tony Vidler If there is one area that continues to bug me about advice process it is the “Scope of Service” documents that are used by so many advisers.  Too often they are just rubbish. If I was a consumer I wouldn’t engage the adviser either on the basis of the menu of “services” […]
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There are 2 big questions before you go ahead and fire that client.
by Tony Vidler I encourage you to try this: fire a client. It is liberating, and it moves your thinking and sense of self worth onto a different professional plane.  Pretty much everyone who has been in professional practice for more than a year has at least one or two clients who are just a […]
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