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Robo-Advice is here, and it is helping Advisers be better at giving advice!
by Tony Vidler Apparently a fair proportion of advisers still do not believe that robo-advice will have a serious impact upon their business. It will of course, and in many respects it is helping advisers to be better at what they do…giving advice. The term “robo-advice” creates an image immediately of a machine replacing […]
Your Constant Output Problem Is Usually Really An Input Problem
by Tony Vidler We like constant output…constant revenue coming in the door is the output we seek right? Too often financial advice businesses struggle to achieve constant output though…it gets a bit “peak and trough”. Well…when we have a repeated problem – like inconsistent results – we need a process. Why? […]
by Tony Vidler Who is paying who for financial advice will become the biggest question in consumers minds as the industry stakeholders continually and very publicly debate fees, commissions and conflicts of interest in financial services. For many advisers yet to experience it, full transparency on costs and fees is good for business. […]
by Tony Vidler When it comes to valuing your advice to clients what is a “fair” rate or price? $100 per hour seems pretty cheap for any professional – plumbers cost more than that, right? But what about $1,000 per hour? That’s not actually a bad rate if someone can create $5,000 of value […]
by Tony Vidler Times have never been more dangerous for giving advice..and it is a time for financial advisers themselves to beware of consumers. Well, perhaps not consumers per se, but certainly all the interested parties who say they represent consumers interests. It is not just the increasing oversight from regulators and professional scrutiny from […]
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 […]
How can we get the Value Of Advice message out more effectively?
by Tony Vidler We need to get the “Value Of Advice” message out more effectively as it just doesn’t appear to be resonating with enough of the consumers, particularly in challenging times. There has been an increasing emphasis upon understanding the value of advice in the last decade and most research concludes that advice […]
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 […]
by Tony Vidler There is something that financial advisers are proving to be not good at doing: That is “Being There”. In this country Statistics NZ compile data from the census every few years and there is a standout statistic that should have financial advisers getting much busier: 7 out of 10 adult consumers […]
Fees For Advice: How to get paid every step of the way
by Tony Vidler If advice is valuable then it should be paid for. Getting paid fees for advice alone seems to be an issue as Financial Advisers often do not get paid what they should for the difference their advice makes…and more often than not it is the advisers’ fault. I have been […]