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How to take the “R” out of FREE Advice
by Tony Vidler        Traditionally the financial services sector has been almost entirely remunerated via commission, and many advisers are still grappling with the basic question of how to make the transition – even if only in their minds – from working solely on commissions to charging clients directly for advice and/or service. Consumers perceived […]
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financial advisor fee strategy
Coaches Get Higher Fees Than Advisers. Do That Then.
by Tony Vidler        As more financial advisers move into fee-based work the common question seems to revolve around what fee level is right for them and their clients. High fees are not great, but higher fees are needed to run the advisory firm.   So obviously the first thing is working out what fee […]
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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 […]
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fee-discount
When – and how – To Discount Your Fees
by Tony Vidler        As a general rule I don’t recommend that a professional discount fees as it tends to undermine their entire value proposition whilst also creating a mindset for the client that the adviser is a price-taker rather than the price-setter.   Discounting fees usually moves a professional from being an expert with […]
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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: fixed fee advice.  That ideal model which so many aspire to is having clients who agree to ongoing fixed fees, and the practice income just rolls in month after month.   Fixed fee advice being delivered on […]
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fee-for-advice
Most Advisers Are Frogs Being Boiled Alive When It Comes To Fees
by Tony Vidler        Most financial advisers acknowledge that things are likely to change when it comes to fees, initial commissions, renewals or AUM fees and so forth in coming years.   Yet they behave like the frog being boiled.  The boiling frog story is a common metaphor used to describe the inability or unwillingness of […]
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