Advice Processes

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How to take the “R” out of FREE Advice
by Tony Vidler        Traditionally the financial services sector has been almost entirely remunerated via commission, and many advisers are now grappling with the basic question of “how” to make the transition – even if only in their minds – from working solely on commissions to charging clients directly for advice and/or service. Consumers perceived […]
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Professional Triage: Targeting The Immediate Need
by Tony Vidler        A huge mistake many advisers make is trying to deliver comprehensive advice to a client concerned only with an immediate need.  We need to recognize when triage is required, as opposed to when ongoing nursing is needed.   The immediate need is the more often the trigger for an advice client to […]
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How To Get Buy-In From Clients To Full Advice
by Tony Vidler        Clients often want advisers to deal with just one element of financial planning…their current “burning issue” that triggered the need for advice to begin with.  Getting them to engage in full advice can be tough and they need to understand what you CAN do for them, and where your knowledge and skills […]
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How do you know your financial advice is suitable?
by Tony Vidler        Knowing that your financial advice is suitable for a client is something that every professional adviser is willing to attest to, but proving it when challenged can be incredibly dificult. Advisers are increasingly being challenged and therefore seeking assurance that their practices are robust and will withstand such scrutiny.  Whether that scrutiny […]
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Advisers Have To Be Effective AND Efficient Now
by Tony Vidler        Which is more important when running an advice business: being effective, or being efficient? You chose Effective? Wrong. You chose Efficient?  Wrong. The correct answer is that you have to balance both.   In days gone by plenty of people in financial services could build a business just be being effective, regardless […]
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How to create a PROCESS to validate your product recommendations
by Tony Vidler        Everyday the situation arises where one adviser recommends Company A as a solution for clients, and another adviser trying to work with the same clients suggests that Company B is better.   This always creates confusion for clients of course, but when it comes to deciding between insurance companies or products it […]
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Compliance: Here are the only 3 things that matter
by Tony Vidler         Whenever the topic of the “advice process”, or compliance, comes up most advisers imagine themselves as the plane in this picture: Compiance is largely considered a burden – albeit a necessary one.  As is usually the way of these things a substantial body of documentation has blossomed over the years which […]
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Not All Consumers Make Good Advice Clients
by Tony Vidler        Everyone is after the good advice clients it seems…or are they?  Robo-advisers, direct marketing, 24/7 online transaction facilities, product kiosks and over the counter solutions to shoppers at supermarkets…these are all “financial advice” choices for consumers today.  (for “Financial Advice” read “anything associated with a financial services product or service which […]
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Deal or No Deal? Advice is really that simple at the beginning.
by Tony Vidler        One of the greatest challenges for professionals working with complex ideas and products is to keep conversations and explanations as simple as possible, without being patronising to the client or skipping the detail that compliance demands.  After all, it takes great skill and careful through to be able to simplify complex […]
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Good? Fast? or Cheap? What sort of advice is it going to be?
by Tony Vidler        A few years ago a university in New Zealand conducted a study to find out where consumers were turning to for financial advice. At the time they found that the number one source of financial advice for most respondents was “newspapers and media”.   For 29% of the population that was […]
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