Advice Processes Archives - Page 4 of 6

Humans will beat the machines, but not at their own game

by Tony Vidler Will the machines beat the humans in financial advice? Nah…the humans will beat the machines I reckon. There’s 2 key problems for the robo-advisers: they generally don’t advise, and nor have they evolved enough to substitute for human-to-human communication. Artificial Intelligence may well change all that, but for now it is […]

How Much You Know Is Not That Important

by Tony Vidler Professional financial advisers know way too much to be used in any given client meeting or engagement. Yet too many think that how much you know is what matters. One of the great skills of the super successful professionals in fact is figuring out what stuff they know which is not […]

Client Focus or Compliance Focus?

by Tony Vidler I support a compliance focus 100% ….but I support a client focus 100% too. All too often it is impossible to achieve 100% for both simultaneously though. Where does a professional compromise? Or does one not compromise? I think this picture captures the challenge of delivering compliant “best […]

Creating a Value-Based Pricing Engagement

by Tony Vidler Amongst all the debate about adviser remuneration there is little being said about value-based pricing and yet it is a concept which is most likely to match the clients perception of value with the professional’s desire to avoid conflicted models or time-based billing. It is simply setting a price based upon […]

Scope Creep: The Number 1 Problem In Fixed Fee Advice

by Tony Vidler “Scope Creep” is the killer for the Holy Grail of professional services business models: fixed fee advice. That ideal model which so many aspire to is having clients who agree to ongoing fixed fees, and the practice income just rolls in month after month. Fixed fee advice being delivered on […]

How to introduce a “Guarantee” into your fees

by Tony Vidler It has been proven repeatedly that providing a guarantee in your fees for prospective clients certainly helps them decide to engage – and it is not a difficult thing to do, even though “guarantee” is a dangerous word for financial advisers. Financial advice fees can seem to be enormously expensive […]

Use Visual Aids To Create Better Advice Engagement

by Tony Vidler Advisers try to create simplicity from complexity, and the most effective way of doing that is to use visual aids. They create quicker understanding and better engagement simply because most people find it easier to comprehend new or difficult information when it is presented visually. We all know from personal […]

How To Deliver The “Right Advice” In The “Right” Way

by Tony Vidler Delivering the right advice consists of getting 2 things right: delivering advice that will work for the client, and delivering it in a manner which will result in the client taking action upon the advice. Getting both of those right is no simple thing. The first of them is […]

If you’re converting only 1 in 10 prospects you have a problem

by Tony Vidler There was a time when converting 10% of your prospects was the path to career success as a financial adviser. Hard to believe perhaps, but true. Everyone starting in a sales role was told to just “see the people, see the people, see the people!”? The expectation was that our fame and fortune […]

financial planning process for prospects

Show Prospects Your Advice Planning Process To Get CLIENTS

by Tony Vidler The Challenge: Getting prospects to buy into your financial advice planning process. The Solution: Show them HOW the process works before asking them to commit. The keywords there are “show” and “how“….and it is because so many advisers do not focus on these 2 words in the earliest stages […]

Advice Processes

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