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Professional Practice Evolution: What Separates Modern Professionals From The Past?
by Tony Vidler There are lessons to be learned from the evolution of the modern professional practice for those who are not there yet. There is also no doubt that a number of financial advisers and practices are still evolving, or yet to begin the journey if they are to avoid being rendered redundant. When […]
Practice Growth Requires Leadership More Than Management
by Tony Vidler The most frequent thing I see that prevents great practice growth and holds advisers back from developing their dream business is a lack of vision. I don’t mean “vision” in the namby-pamby buzz-word sense of having a beautiful set of words on a plaque on a wall that nobody really cares […]
by Tony Vidler Traditionally the financial services sector has been almost entirely remunerated via commission, and many advisers are now grappling with the basic question of “how” to make the transition – even if only in their minds – from working solely on commissions to charging clients directly for advice and/or service. Consumers perceived […]
by Tony Vidler Clients often want advisers to deal with just one element of financial planning…their current “burning issue” that triggered the need for advice to begin with. Getting them to engage in full advice can be tough and they need to understand what you CAN do for them, and where your knowledge and skills […]
How do you know your financial advice is suitable?
by Tony Vidler Knowing that your financial advice is suitable for a client is something that every professional adviser is willing to attest to, but proving it when challenged can be incredibly dificult. Advisers are increasingly being challenged and therefore seeking assurance that their practices are robust and will withstand such scrutiny. Whether that scrutiny […]
by Tony Vidler Which is more important when running an advice business: being effective, or being efficient? You chose Effective? Wrong. You chose Efficient? Wrong. The correct answer is that you have to balance both. In days gone by plenty of people in financial services could build a business just be being effective, regardless […]
by Tony Vidler Buying a practice or buying another advisers book of business is, or will be, a really hot topic given the dramatic regulatory changes happening and the proportion of existing financial advisers who just don’t want to go through a few more years of change. For manyt advisers buying another practice or […]
Building Your Reputation: Talk About The Elephants In The Room
by Tony Vidler When Accountants struggle to create a universally good reputation for their industry then we are going to have a real battle doing so. If they only get rated as “High” or “Very High” in professional ethics and honesty by half the population then what chance that an Insurance Broker will rank […]
by Tony Vidler The easiest way for advisers who are worried about trying to charge fees for their expertise or time is to sell a service which is not product related at all. This seems daunting to the many financial advisers who have “grown up” in an environment where they were paid by commissions […]
Imagine if we were REALLY 100% honest with clients
by Tony Vidler Total honesty with clients is a wonderful idea….but 100% honesty in all things with clients would kill us commercially. And frankly the consumers, regulators and politicians wouldn’t like it much….despite how much they ask for 100% honesty in all things. Don’t get me wrong: I believe in full transparency and […]