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Compliant Advice: Paper Beats Scissors Every Time
by Tony Vidler When it comes to compliant advice Advisers really need to grasp that they are playing a game of “Rock, Paper, Scissors” with every client engagement now. There almost certainly will be an instance where a client throws the Rock…. We try to beat it with Paper. Complaints authority or regulator takes to […]
by Tony Vidler Being properly valued for your expertise and eliminating the time-wasting tyre-kickers is an ongoing problem for most financial advisers. That is even more true for those making the transition from purely commission-based remuneration to generating fee-paying work where they are charging for that time or expertise. Managing the remuneration transition whilst also […]
by Tony Vidler Disclosure is back on the regulatory agenda again, and the rules will undoubtedly be changing yet again. There is no doubt in my mind that disclosure of costs, fees and conflicts enhances trust and professional credibility. However, there is also no doubt in mind that disclosure can be taken so far that […]
New Thinking In Professional Development For Financial Advisers
by Tony Vidler One of the positive changes for financial advisers in this part of the world in the last year was a broadening of what can be considered Continuing Professional Development (CPD). Now, instead of solely focussing upon technical learning, we are entering a regime where advisers have to map out their own […]
by Tony Vidler Client complaints are a fact of life. It is virtually impossible to run a service business where everyone is happy 100% of the time, as human beings are involved and they are unpredictable creatures with ever-shifting expectations. The art of good client complaint handling is knowing when to fight and when to […]
How to balance client time with practice development
by Tony Vidler A genuine challenge for advice firms right now is balancing client time as well as do all the work necessary to lift standards and improve business systems. There are after all only so many hours in a day, but then there are deadlines for when new standards and rules have to be […]
Is Insurance Churn Really The Issue We Think It is?
by Tony Vidler Any time an insurance product is replaced by an adviser with an alternative one someone begins howling about “insurance churn” or “twisting of policies” and the immediate inference is that something unethical just occurred. Sometimes that is true of course, and there are undoubtedly bottom feeders in the industry who survive by […]
by Tony Vidler The perpetual worry for financial advisers in the often over-regulated environment is “how can I be sure that my advice will pass the test?” The concern is understandable given that policymakers typically do not understand the difficulty of applying any sort of objective assessment of suitability to professional opinions – which […]
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 […]
by Tony Vidler Sales Technique…the very phrase sends shudders down the spines of professionals today it seems. Despite the focus on our increased technical knowledge and the emphasis upon good process, financial advisers actually have to “sell”. A large problem for many newer advisers is that nobody is teaching them effective sales technique anymore, […]