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.
“Despite several rounds of policy and legislation, there has been insufficient recognition of and differentiation between planning advice and portfolio (product) advice, which has continued to promote a product-oriented culture within the industry. The large institutions, as the largest stakeholders and proponents of industry self-regulation have been largely responsible for developing today’s advice model under this flawed framework…”
While this is North American research, there are lessons for all financial advisers in it. What technical area do clients want the most help with? And what are the things they want help with most? Hint: it is not technical stuff…
“The business development process for professional services-indeed, for most intangible and complex purchases-is hindered by this vestigial concept. You don’t need to get better at closing. You need to stop it.”
The point is well made here that robo-advice solutions miss 4 crucial areas that planners don’t…at this stage….
…listen up financial services industry…