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Why we get price resistance
by Tony Vidler Whether we like it or not there is nearly always price resistance in delivering financial advice, and how we present our service is a large part of that problem. It doesn’t have to be…we just need to think through the differences between “what we say” and “what they hear”. I often […]
Are you offering Advice clients Fast Food or Fine Dining?
by Tony Vidler Many advisers are unsure about what they offer advice clients – cheap and cheerful advice on the fly, or a superb planning experience. Both do the job, albeit in different ways. But offering fast food at silver service prices is a business model that will struggle…and that’s what happens when there […]
Want Prospects To Open Up? Take a tip from the professional interviewers
by Tony Vidler Once upon a time everyone was taught the difference between open and closed questions as the key to engaging prospects…and it worked for a fair while. In today’s world with it’s much greater emphasis upon individual opinion and with our professional focus having shifted entirely onto what the client cares about rather […]
by Tony Vidler What you think is the problem is not always actually the problem. Sometimes the person is the problem. Sometimes, maybe, the client is the problem rather than you. Before talking about clients though allow me to use a non-client example. Picture the scene: a partner in a practice is telling me […]
by Tony Vidler A Clients are just your best ones, right? Why? The concept of segmenting clients into different categories is driven by the desire to introduce efficiency into a practice while recognising that not all clients are of equal commercial value to the firm. It is also a way of recognising that not […]
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 […]
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 […]
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 […]
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 […]
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 […]