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The 5 Levels Of Professional Competence
by Tony Vidler        A strange question to ask perhaps, but can a professional be assessed as having competence and incompetence as an adviser simultaneously?   I think so.   As new regulatory standards are embedded everywhere for professional services a word which frequently springs up as measure of professionalism is “competence”. Advisers everywhere grasp […]
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Full Transparency: It pays to keep some secrets from clients
by Tony Vidler        In this age of complete transparency for professional services there is a tendency to tell clients everything…and there are just some things you shouldn’t tell them in advance.   If you want to give yourself a reasonable chance of creating clients who are a little surprised and delighted with your service […]
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How to create a MORE effective client report
by Tony Vidler        The typical financial planning report or statement of advice produced for clients is ineffective.   Being effective means getting the key points across as quickly and as simply as possible, so that the reader understands them, and is then able to make decisions relatively quickly and easily.  It will engage, motivate and […]
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Pro Bono work: is there a different professional standard?
by Tony Vidler        An odd question perhaps…however I have been questioned on whether pro bono work carries some lesser responsibility on the part of an adviser.  My answer: Why would pro bono clients deserve any lesser standards of ethical behaviour, professional competency or application of skill?   Furthermore; why would any adviser risk compromising […]
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Professional Selling: It is a real thing!
by Tony Vidler        Professional and selling are apparently 2 words which according to many just don’t go together these days…except they really do.  I’ll go further in fact and say that professionals MUST be selling, but, selling must be professional.   While there is an absolute requirement to place the clients interests above all […]
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Regulation of financial advisors
Time to get with the program on regulation
by Tony Vidler        For all the distractions, downtime and inefficiency that comes with new (or more) financial services regulation it is very easy to see it as an imposition.  Many advisers conclude that regulation is simply bureaucracy which in itself creates little to no value.   I am no fan of meaningless bureaucracy, but […]
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Complicated products have owners manuals, why don’t ours?
by Tony Vidler        face it: our products are complicated as far as clients and prospects are concerned.   The funny thing is, nearly all of the products we buy are pretty complicated these days.  Even though we men folk tend to ignore them to begin with, most of the complicated products come with explanations […]
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sales skills for financial advice
The missing ingredient in professional development: SKILLS
by Tony Vidler        We are awash with recommendations on how to “improve the advice business”.  Regulators, politicians, consumer groups, product manufacturers…competing business models that look to bypass advice entirely….all of them are making a lot of noise about how advice delivery can be improved.   Much of what they say has merit of course, […]
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The times are a changin’…Business as usual is a dead end!
by Tony Vidler        The difference between any two professional practices filled with well qualified and well meaning people is usually that a different culture exists in each.     All businesses develop a “way we do things here” over time…whether they meant to or not.  A culture evolves within the business…whether you wanted it […]
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financial advisor fee strategy
The Coach Gets The High Fees, Not The Adviser, So Be A Coach
by Tony Vidler        As more financial advisers move into fee-based work the great dilemma is working out what fee level is right for them and their clients.   There are a number of easy ways of working out what fee level is profitable, and it is usually easy enough to work out what fee […]
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