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The Financial Advice Profession: Are we there yet?
by Tony Vidler The incessant debate about whether financial advice can be called a profession or whether it is an “industry” keeps rolling along and mostly the debate is within the industry. Those who are not financial advisers don’t debate it because the answer is fairly clear to them I am guessing….after all; if it […]
by Tony Vidler That word “process” is just deadly for so many advisers today that too many won’t have bothered reading this far…but process creates profit. But Process IS Profit. “Process” has become associated simply with compliance in delivering financial advice, but process is way more than that. Processes become the IP […]
by Tony Vidler How can an adviser be confident their advice is good before trouble starts? In other words, how do you audit yourself? There are 5 key things that the adviser must do – and be able to evidence afterwards – to show that they have worked for the benefit of the client, […]
by Tony Vidler Even if Financial Advisers don’t feel the need to do marketing I would suggest that there are still some marketing places to be for advisers who feel they have enough clients. Even when prospecting for new clients is not a particular issue, professional credibility is. Suppliers, potential referrers, Centres Of Influence…they […]
by Tony Vidler Do financial adviser titles matter? A good question given the number of advisers who seem to try and elevate their professional positioning by referring to themselves as something other than “a financial adviser”. You know what I mean….financial advisers who have titles like “Risk Mitigation Specialist” or “Personal Financial Manager”…. Something […]
How to get clients to act in the short term on long term advice
by Tony Vidler It can be incredibly difficult to get some customers to act. Especially getting them to act on advice “now” which won’t pay off for quite a long time. You know they should. They know they should. They need to get on with it and take some action sometimes. Easier said than done […]
Are you giving good advice, or giving what they want?
by Tony Vidler Giving good advice is different to giving people what they want, isn’t it? Most financial advisers can do both, and many do in fact deliver both. That is, they often give people what they want because that is after all what the consumer wanted….and the consumer is the boss and has the […]
Maybe this is an opportunity: Picking a good financial adviser is harder than ever for consumers
by Tony Vidler Choosing a good financial adviser has always been a bit of a leap of faith for consumers I guess, but picking one today is harder than ever. With the tendency to use search to screen possible contenders, and with most contenders having to use the same acronyms and titles and so on, […]
by Tony Vidler As client presentations become more compliance-focused, lengthy, and technical in nature there is an corresponding increase in client dissatisfaction with financial advice. Coincidence? I think not. There has been a trend for years for financial advice, particularly comprehensive financial plans, when presented to clients to be “too clever” with clients not necessarily understanding […]
by Tony Vidler Which financial adviser is going to be right: the one who charges a fee; the one who is “free”; or; the one charging a commission? Or is it the one who does all of these? Well I suggest that it depends on what you are hoping for and what you […]