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The Myth Of Independent Advice
by Tony Vidler The search for “independent” advice is rather like the Quest for the Holy Grail. It doesn’t exist. The search is fruitless and doomed because there is no Holy Grail. Independent advice simply does not exist. The argument for those wanting to say they are independent (or being allowed to by regulators) […]
Cost is not just Price: Put Adviser fees into perspective
by Tony Vidler Adviser fees are a cost for sure, and often a stumbling block for many professionals with their clients is this “cost discussion”. It is a stumbling block because more often than not the entire conversation revolves around just one of the cost components rather than the actual fee rate and the value […]
The Annual Review Meeting: You CAN Be Compliant Without Being Dull
by Tony Vidler The Annual Review process for financial advice clients is often seen as a rather hum-drum thing by the clients (if not advisers themselves), and getting clients to engage in it can be a real challenge. It doesn’t have to be that way of course. With a little imagination it can […]
by Tony Vidler One of the biggest issues for advisers is to get clients saving more. Getting them to do now what will be good for later means deferring instant gratification and the constant “we wants”, even in countries where compulsory or incentivised retirement savings schemes exist. A fascinating piece of work for any […]
A Great Adviser is, or should be, a Thought Leader
by Tony Vidler “Thought leaders are the informed opinion leaders and the go-to people in their field of expertise. They are trusted sources who move and inspire people with innovative ideas; turn ideas into reality, and know and show how to replicate their success.” The second sentence in the above quote seems particularly pertinent […]
by Tony Vidler Robo-advice is great for all of us in the advice arena, because WE learn more about consumers appetites for advice and product and WE learn more about their behaviour. That helps us deliver better services of higher value. It is one of the major benefits of the intense interest and investment […]
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 […]