Professional Services Archives - Page 4 of 11

The uncertain road ahead for advice businesses

by Tony Vidler One certain thing for advice businesses is that there is a huge amount of uncertainty. Practice owners have had a lot of “alone time” in the last couple of years quietly contemplating the road ahead and trying to figure out what do they have to do to prepare, or adapt. […]

Penny-Pinching In IT Is Madness

by Tony Vidler Professionals keep getting their fingers caught in the trap of “penny pinching”, especially in IT. This is especially crazy when the IT is protecting the IP. We know that there are many many areas where cheap actually becomes expensive in the long-run, and nowhere is this more true in my […]

How to make joint client work fair

by Tony Vidler More and more advisers within practices are doing joint client work and many practices still haven’t figured out a way to fairly apportion the responsibilities or revenue for long term success in the joint client work model. Everyone begins with great intent and all focus is on doing the best […]

What your clients are REALLY worth to you

by Tony Vidler How much do you really think a good client is really 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 […]

The Strategic Evolution Of Advice Firms

by Tony Vidler The evolution of advice firms into different service and revenue models is happening already of course, but the majority of financial advisory firms appear to still be trying to figure out what the next evolutionary step might be. There’s a classic cartoon that shows the way forward for those advice firms when […]

Do you actually have a Strategy?

by Tony Vidler Nearly every financial services firm says they have a strategy. Which is remarkable really, as creating a competitive strategy is actually difficult usually. Especially if you don’t know what “strategy” is to begin with. Many practices have a plan, and that plan is usually full of tactical decisions and thinking. […]

Which Clients To Keep; Which Ones To Fire

by Tony Vidler More clients is good, right? But when you have plenty of clients on the books the question becomes which clients to keep. Or which ones to get rid of. Actually, advisers should be constantly asking these questions regardless of how big their book of clients actually is. They are not questions […]

Selling Change Inside Your Own Practice

by Tony Vidler External challenges and changes mean we are often selling change – or the need for yet more change – inside our own practices to our own people. And that becomes yet another challenge, as change is frequently resisted. What practice owners often don’t understand though is what it is that is actually […]

Time Management: How to figure out what you should be working on

by Tony Vidler Time management is always cited as one of the top challenges for advisers, but is time management really the problem? Or is it a prioritisation problem? Working out what you should really be working on is one of those things that we all know we should do, but for one […]

Where will the greatest disruption to your practice come from?

by Tony Vidler Disruption has long been a feature of financial services distribution. Disruption constantly occurs with new market entrants, product innovation, shifting strategic focus on the part of suppliers in relation to control or autonomy of distributors….but disruption has typically come from within the industry itself. Some years ago I read a piece […]

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