Information, ideas, tips…the articles for professional advisers which I spotted this week that generate fresh thinking or a deeper understanding of issues are provided here as a quick readers digest for professionals who are looking ahead.
These are the highlights from the week that you should stop and read, as they are the best I’ve seen.
There is so much good information for professional services made available each week, much of which I share, that it is very easy to forget to pause and reflect.
Each week I select the best handful and give them Tony’s BIG Ticks as being the ones that made me pause and reflect, or think further. They are sometimes thought-provoking, perhaps insightful, maybe a great sales or marketing idea or sometimes just incredibly topical.
Quite simply the best piece of work I have seen for some years on the vexed issue of life insurance commission. I’d suggest reading the comments at the end of the article too, as there are a number of very solid points made by advisers on the “real” commission rates that flow through to them, which are substantially different from the advertised rates…
Read it if you are in the insurance advice line of work.
“…a recent Calastone study of 3,000 people aged between 22 and 34 across the UK, France, Germany, US, Hong Kong and Australia sheds light on some of the lifestyle habits, ambitions and general trends among millennials in what could help fund managers better target younger investors…“
“…the key point is that emerging trends show larger advisory firms are shifting away from targeting highly affluent clients, and are instead aiming for smaller clients in the “millionaire sweet spot” – those clients who are still wealthy, but whose needs might not be so complex as to require senior-advisor-level service. And because these clients are generally less labor-intensive and price-sensitive as more highly affluent clients, they are a key factor for the rapid growth seen in many of today’s large firms…”
A nice article highlighting 9 pieces of academic research on financial planning and financial advice, and the implications for the advisory industry of each…a bit of a lucky dip of topics….
A nicely thought out opinion piece on why the majority may well be wrong on what they think advice businesses are valued at, and how you might go about increasing the actual value of your own practice…