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Practice Growth Requires Leadership More Than Management
by Tony Vidler        The most frequent thing I see that prevents great practice growth and holds advisers back from developing their dream business is a lack of vision. I don’t mean “vision” in the namby-pamby buzz-word sense of having a beautiful set of words on a plaque on a wall that nobody really cares about. […]
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The 9 Business Building Blocks Which Will Stand the Test Of Time
by Tony Vidler        To create a firm which will last you need the right business building blocks, or the foundations if you like. When it comes to building something to last the ancient civilisations can teach us a thing or two about the building blocks of a business.  Anybody who has had the privilege […]
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R.I.P. To Some Accepted Wisdom For Growing A Practice
by Tony Vidler        In good times growing a practice is difficult enough and one of the methods has become conventional wisdom – but that doesn’t mean it is right in these days of fundamental and structural change for the industry. The concept of a professional firm requiring 3 distinctly different roles of a Finder, […]
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How do you know when you have a “great practice”?
by Tony Vidler        “Great” is so subjective isn’t it?  Having a “great practice” is a subjective assessment too…what is great to one adviser might be considered ordinary to another. But the true measure for each (I think) is: “When it is delivering the income and lifestyle that you imagined.” However, that outcome is potentially […]
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10 Reasons why an Advisory Practice just stays “practicing”
by Tony Vidler        Why is an Advisory Practice called a “Practice”? I think it is because more often than not the business is mostly practicing to be a business.  When a “practice” has actually made it then everyone calls it “a firm”. THE common denominator in a Practice appears to be that the Principle, […]
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10 Mistakes That Advice Businesses Keep Making
by Tony Vidler        So many advisory firms do not realise their potential, and the top mistakes which hold them back are more often than not nothing to with their ability to be great advisers. They tend to fall into the category of being basic commercial mistakes. So the main mistakes that advice businesses keep […]
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out-of-business
Some Advisory Firm’s Are “Going Out Of Business” Without Even Realising It
by Tony Vidler        I have a strong sense that a lot of advisory firms are “going out of business” at the moment and don’t even realise it.   For a very long time markets were going well, and commission and fee rates were at the high end of the scale, and there were plenty […]
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financial-services-regulation
Regulatory Reform: The Danger Of Knee-Jerk Reactions
by Tony Vidler        Regulatory reform is everywhere (in the west at least) in financial services and the biggest distraction for advisers is what they need to do to adjust for it…again…and the focus is almost always entirely upon the short term.  Knee-jerk reactions become the norm as advisers grapple with the burning questions, such as: […]
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Are You AND Your People Clear About What YOU Want?
by Tony Vidler        Pretty much everyone running a business hates having to come up with job descriptions for their staff.  Your people hate them too usually.  A statement which may have been correct at a moment in time to describe a role, and the role is subject to constant change…they are pretty much a […]
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To fix repeated problems, you need a process!
by Tony Vidler        For financial advisory firms the word “process” has become synonymous with “best practice advice”, but good process is so much more than just a compliant and well-documented series of advice documents. Process cures problems.   Process is what builds franchise businesses.  Process is what creates turnkey operations that are highly valued […]
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