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.
“Two recent research studies upended the conventional wisdom about why advisors lose clients…”
And here is an excellent summary of them.
This is a superb and snappy summary of the things advisers should be thinking about, and coming up with plans to manage, in the cybersecurity area…
“too much choice is risky. In a well-documented study by Sheena Iyengar and Mark Lepper, researchers offered samples of jam to shoppers in an upscale grocery store. When presented with six flavors, 30% of tasters made a purchase. When 24 options were on the table, only 3% opted to buy. Researchers believe that when consumers have too many options, they become confused or paralyzed with indecision”
It isn’t just banks which are threatened by new technology and distribution channels, but other existing institutions and distribution channels as well. Here is a good overview of who is coming to eat your lunch…
No matter what advisers believe, “The client owns the client and they have every right to direct patronage and loyalty as they see fit…”
However, practices do have to grapple with who owns ongoing income streams….