Financial Planning

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client-lifetime-value
What your clients are REALLY worth to you
by Tony Vidler        How much do you really think a good client is worth to you?   Most financial advisers will easily work through the basic formula of the average fee/sale per client multiplied by the number of transactions they have with you each year, and then multiplied by the number of years you expect […]
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free-initial-meeting
Your FREE service is a barrier to getting the right business
by Tony Vidler        Most professionals at some point offer complimentary initial meetings or consultations with clients as a “free service”. It simply isn’t true, and that in itself prevents the right sort of clients coming your way. The fundamental reason why this just doesn’t cut it with consumers is because they don’t believe it.  […]
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The Art Of Giving Suitable Advice
by Tony Vidler         The most challenging area of financial advice which is subject to perpetual testing is the question of “suitability”.  WHY was a particular piece of advice appropriate for a particular client? What factors were considered, or even discarded, that led to a particular recommendation as being the right advice? It is an […]
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practical-financial-planning
Describe Your Services In Practical Terms To Get More Buy-In
by Tony Vidler        Advice should, almost by definition, be “practical”.  It should be a clear course of action that a client can use to achieve a specific outcome.  Why don’t we describe our advice services that way then?   Consumers often struggle to understand what we can achieve for them (or help them achieve), […]
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fee-for-advice
Most Advisers Are Frogs Being Boiled Alive When It Comes To Fees
by Tony Vidler        Most financial advisers acknowledge that things are likely to change when it comes to fees, initial commissions, renewals or AUM fees and so forth in coming years.   Yet they behave like the frog being boiled.  The boiling frog story is a common metaphor used to describe the inability or unwillingness of […]
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robo-advice
Bad news for Robo-Advisers; Good news for Humans
by Tony Vidler          There’s 2 key problems for the robo-advisers: they generally don’t advise, and nor have they evolved enough to substitute for human-to-human communication.   Artificial Intelligence may well change all that, but for now it is bad news for robo-advisers as the human consumers still overwhelmingly prefer to communicate with humans in […]
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fee-discount
When – and how – To Discount Your Fees
by Tony Vidler        As a general rule I don’t recommend that a professional discount their fees, as it tends to undermine their entire value proposition.   Discounting fees usually moves a professional from being an expert with highly specialised and valuable knowledge to someone simply selling hours of billable time in a consumers mind. […]
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How Much You Know Is Not That Important
by Tony Vidler        Today’s professional knows way too much to be used in any given client meeting or engagement.  One of the great skills of the super successful professionals in fact is figuring out what stuff they know which is not useful to any particular client, and then not using it.   That shouldn’t […]
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invest-in-people
Great Returns Come From Investing Time In Your People
by Tony Vidler        Professional advisers have never been under more time pressure than they are today, and of all the things they could be investing time in the one which is easiest to defer is investing that time in their people.   Everything is else is more pressing and demanding than a practice leaders […]
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client-contact-frequency
Client Contact Frequency: does it really matter?
by Tony Vidler        The question of whether client contact frequency makes a discernible difference to the strength of the adviser-client relationship, or enhances the perceived value of the adviser to the client, is one which still perplexes the industry.   Professional opinions from marketers and consultants, and amongst advisers themselves, vary enormously on the […]
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