Practice Management

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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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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.  That ideal model which so many aspire to is having clients who agree to ongoing fixed fees, and the practice income rolls in month after month.   Fixed fee advice being delivered on an ongoing basis is a […]
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e-advisor-technology
The Rise Of The e-Adviser
by Tony Vidler        There appears to be plenty of research from larger markets such as the USA to suggest there is a new type of financial adviser out there, dubbed the “e-Adviser”, who is winning way more business than other advisers are.   An e-Adviser is not a robo-adviser either….thought I would just get […]
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reward-employee
What You Reward Must Be What You Value, right?
by Tony Vidler        Perhaps the greatest challenge for practices wishing to grow their people, profitability and professional standards is determining what behaviour to reward.  And what you reward must be a reflection of what you really value in your business, right?   Why is it that so many firms reward nothing more than a […]
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listen-to-clients
Listen to the market or get out while you can
by Tony Vidler        “Two Ears but only one mouth”…blah blah blah…sales training 101, right?   We know how important it is to “listen” to clients, and we know the danger of losing touch with what they want and what they are thinking.  Every single professional has lost good clients at some point simply because […]
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adviser-marketing-budget
Is Your Marketing Budget As Big As Your Dream?
by Tony Vidler        You probably want more business for your practice, and almost certainly want to do more business with higher value and more challenging client cases.   Well, something has to change. Something has to be done differently to get those opportunities. That something is “marketing”.  Your marketing has to change.   I […]
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penny-pinching-crm
Penny-Pinching IT Madness in Professional Practices
by Tony Vidler        Professionals keep getting their fingers caught in the trap of “penny pinching”, and nowhere does this appear to be more prevalent than when it comes to using IT to guard their IP.   Everyone has heard the saying: “If you think an expensive mechanic is bad, just try and hire a […]
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strategic-thinking
Getting Strategic Clarity For Your Practice Is Just Like Giving Advice
by Tony Vidler        The most important business-building step is having a well-defined strategy, yet strategy is one of the most misunderstood concepts in professional services.  It is an area that many advisory firms struggle with, and frequently find themselves without any clearly defined strategy for how they will achieve their business objectives.  That is […]
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lead-to-manage
Why Your People Fail You
by Tony Vidler        Working with a very good adviser recently who has just taken on staff of his own for the first time in his career he asked me if I could get his new people up to speed for him, as they weren’t quite working out as he would like.  They were failing […]
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This 1 Thing Could Lose You More Than 50% Of Your Clients
by Tony Vidler        For just about any practitioner to lose 56% of their clients in a year would be a disaster.  It is enough to jeopardise a practice entirely of course, but even in a best case scenario it will hurt horribly, and for quite a long time.   It is a very real […]
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