Best Practice Advice

SEARCH BY SUBJECT AREA

Get financial adviser coach blog updates via email.
Enter your email address to follow this blog and receive notifications of new posts by email.
Join 313 other followers

sidebar_tony
Facebook: 2831, Twitter: 13061, LinkedIn: 689
If It Is Not Simple, You Are Not Working Hard Enough
by Tony Vidler        It takes a lot of work to make complex advice simple and succinct, and nowhere is this more apparent than in the creation of  a financial plan or  Statements of Advice. Those 40 page plans, or worse those 80 page plans and pieces of written advice, are barriers to consumer engagement […]
Read more.
A financial advisers best weapon: The Meeting Agenda
by Tony Vidler        One of the most powerful weapons in an advisers armory is the Client Meeting Agenda. Yet, so few use them regularly…. The client meeting agenda sets up the entire professional relationship – not just the next hour or so that you happen to be with a client. In addition; It minimises […]
Read more.
How To Get Paid For Each Piece Of Advice You Give
by Tony Vidler        Here’s a simple strategy for getting paid fairly for the advice you give….and I mean getting paid for ALL the advice you give…every step of the way.   There are broadly three possible parts to any client work: 1.  Planning 2.  Implementing, or “putting in place” any planning recommendations 3.  Ongoing […]
Read more.
The Art Of Giving Suitable Advice Which Is Defensible
by Tony Vidler         The most challenging area in forming a professional opinion is ensuring that it is “suitable advice”, as what is suitable is subjective – until the time comes somewhere in the future to see if the advice actually worked.   Despite the issue of nobody actually knowing whether advice really was suitable much […]
Read more.
best-practice-advice
Best Practice Advice Means Meeting Client Expectations Too, doesn’t it?
by Tony Vidler        What constitutes “Best Practice” advice process is a constant work in progress, but it does not develop as rapidly as either technology or client expectations do.  In fact, there is a distinct probability that the gap between what professionals call best practice advice and what clients expectations of best practices are  continue […]
Read more.
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 […]
Read more.
compliance-focus
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 […]
Read more.
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 […]
Read more.
fixed-fee-advice
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 […]
Read more.
Make your professional designations mean something to clients
by Tony Vidler        Why aren’t more financial advisers using their professional designations and qualifications better? There is no doubt that there has been an increasing proportion of advisers pursuing professional designations, and an increasing number of niche choices in doing so, and there are more advisers with more acronyms than ever before.   Do […]
Read more.