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How To Balance Satisfied Clients With Profitability
by Tony Vidler        What impact on practice profitability does this have: “Despite ongoing efforts to improve service, positive customer experience levels decreased significantly across the world”   This was from a report released a little while ago on the performance of the insurance sector globally, and it highlights a real dilemma for practitioners.   […]
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Advisers Have To Be Effective AND Efficient Now
by Tony Vidler        Which is more important when running an advice business: being effective, or being efficient? You chose Effective? Wrong. You chose Efficient?  Wrong. The correct answer is that you have to balance both.   In days gone by plenty of people in financial services could build a business just be being effective, regardless […]
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5 Things You Need To Do Before Buying A Practice
by Tony Vidler        Buying a practice or buying another advisers book of business is, or will be, a really hot topic given the dramatic regulatory changes happening and the proportion of existing financial advisers who just don’t want to go through a few more years of change.   For manyt advisers buying another practice or […]
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Compliance: Here are the only 3 things that matter
by Tony Vidler         Whenever the topic of the “advice process”, or compliance, comes up most advisers imagine themselves as the plane in this picture: Compiance is largely considered a burden – albeit a necessary one.  As is usually the way of these things a substantial body of documentation has blossomed over the years which […]
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6 Things Banks Taught Us About Building A Super Profitable Business
by Tony Vidler         It seems obvious, yet somehow it isn’t.  The more you know about your customers the more business you can do with them.  Can.  Not “will do with them”….but “can”.   Market and customer intelligence provides potential business opportunities – if you are able to act upon it.   Take a tip […]
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Why Good Content Matters (and what it looks like)
by Tony Vidler        Pretty much every time I get into a discussion with professionals about building up their business they begin by thinking that the answer is “get more prospects“.  There is no doubt that getting more prospective customers helps build a business of course, but what builds a business faster and less stressfully […]
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What Price Is My Practice?
by Tony Vidler        Given some of the trends beginning to take shape in financial services there must be serious questions about how to accurately value an advisory firm.   The short answer to what is an accurate value will of course always be “whatever a buyer is willing to pay, and which you are willing […]
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buying a financial planning business
What you need to know if you’re going to buy to grow
by Tony Vidler        As many advice businesses reach maturity it is common to consider whether they should “buy to grow”.  Should they buy another practice, or more commonly, should just buy a book of business from another practice.     The typical reasons suggested for wanting to grow through acquisition are: 1.  Get new […]
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What is the point of an expensive CRM system?
by Tony Vidler        An adviser who plans on being in the business for another couple of decades asked what the point is in paying for an expensive and fancy CRM system. Honest.  He did ask that. He has a list of clients in Outlook and has the clients home addresses, phone numbers, and sometimes […]
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merge-in-acquisition
Is Acquisition – or Merger – Worth It?
by Tony Vidler         Many firms facing increased overheads and infrastructure costs in the next few years are considering acquisition or merger strategies as a survival or growth strategy.   Generally there appears to be  5 main reasons that advisers suggest as their reasons for acquisition of another business.  They are:    1.  Get new […]
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