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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 […]
Sanity Check: A Statement Of Advice should be a “statement”
by Tony Vidler When it comes to providing advice in writing to a client there is undoubtedly unnecessary complexity. In fact the proverbial “Statement Of Advice” has become anything but a “statement”. It generally takes the form of a tome… A “tome is a scholarly work…usually large, heavy and laborious in its detail. A […]
The powerful marketing tool that you use every day, but hardly use for marketing. But should!
by Tony Vidler The most powerful marketing tool most professionals have is the one they use hundreds of times each day, but which they usually do not do any marketing with. email. Love it or loathe it, we all use it. It is not going away anytime soon, and it is not about […]
by Tony Vidler New rules and regs are coming everywhere you look, and the uncertainty level amongst advisers is just about at an all time high. The most common question in the business that people like myself are being asked is “what should I do?” Get clear about what you want from your business. […]
Meeting Client Expectations Is In The Clients Interests Too, isn’t it?
by Tony Vidler What constitutes “Best Practice” advice process is a constant work in progress, but it does not develop as rapidly as either technology or client expectations. In fact, there is a distinct probability that the gap between what professionals call best practice advice and what clients expectations are will continue to widen. […]
by Tony Vidler Asking financial advisers what THEIR risk tolerance is seems odd to many at first glance. However, when contemplating what changes should be made in response to more regulatory reform this is the NEXT question which should be addressed after answering the “what do the new rules say I have to do?” question. […]
The Ideal Practice: Balancing Your Needs & The Clients Wants
by Tony Vidler Heresy: The Professionals’ needs matter as much as the Clients’ wants. It shouldn’t be heresy to say this aloud of course…. But; the ideal practice is one which surely achieves this balance isn’t it? After all, practitioners are trying to earn a living and meet the wants and needs of their own […]
The Danger Of A Knee-Jerk Reaction To Regulatory Reform
by Tony Vidler The hot issue for many advisers right now is what they need to do to adjust for incoming regulatory reform…again…and the focus is almost always upon the short term. Knee-jerk reactions become the norm as advisers grapple with the burning questions, such as: What process do I have to change? What […]
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 […]
by Tony Vidler I support a compliance focus 100% ….but I support a client focus 100% too. All too often it is impossible to achieve 100% for both simultaneously though. Where does a professional compromise? Or does one not compromise? I think this picture captures the challenge of delivering compliant “best […]