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.
The very best performing advisory firms do some things differently to the average performers . as you’d expect. But what things?
There are challenges with a workable definition of “client best interests” – and even more challenges with figuring out how implementing such a standard applies in the real world of varying advice business models. This superb article explores some of those challenges, and issues…
“Financial planning will continue to be an advisor-led process but adding self-directed technology to complement what firms already offer could create opportunities with more client segments…”
Research in Australia showed that nearly 11% of the insured market switched life policies…of the more than 1 million policies switched though only 24% switched companies (but the balance were willing to!). Here’s the thing though: only about 6% did so following a recommendation from an adviser….so much for the “adviser led churn” problem I guess.
Loyalty to insurers BY CONSUMERS is certainly diminishing…maybe insurers themselves need to figure out how to keep their customers?
Advisers have said for decades that “the majority of investors want the return OF their capital more than the return ON their capital”…well, the research now bears this out…