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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. Can we […]
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Who are your most valuable clients?
by Tony Vidler        It may seem an obvious question however understanding who the most valuable clients are to a firm is not always as simple as it seems.  There is often an innate understanding of who they are however it is often not underpinned by any analysis or hard data. Even when it is […]
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Not all clients are equal…well, not equal value anyway
by Tony Vidler        Let’s talk about one of those elephant in the room things: not all clients are equal for a professional service firm. As human beings they might all be equal, but as clients they are not. Each client relationship has a commercial value….and a commercial cost.  Each therefore has varying profitability, and […]
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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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Be like the Private Banker in order to become invaluable
by Tony Vidler          To become invaluable, emulate “the Private Bankers” when it comes to combatting the multiple pressure points of rising consumer expectations, technology-driven and cost-focussed solutions, and the trend for “self management” in all things by clients.   I had the pleasure of spending a little time with Dr Phillip M. Randall a […]
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business-disruption
Where will the greatest disruption to your practice come from?
by Tony Vidler        Disruption has long been a feature of financial services distribution.  Disruption constantly occurs with new market entrants, product innovation, shifting strategic focus on the part of suppliers in relation to control or autonomy of distributors….but disruption has typically come from within the industry itself.   Some years ago I read a piece […]
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commercial-client-segmentation
Client Segmentation Needs To Be Done Commercially
by Tony Vidler        It is logical to do a bit of client segmentation so that you can figure out what levels of service can be offered to which clients profitably.  The funny thing is that most of the time it is the “profitably” part that gets lost in the client categorisation process….   While […]
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Client Contact Frequency: How much is enough?
by Tony Vidler        The question of whether client contact frequency makes a discernible difference to the strength of the adviser-client relationship, or enhances the perceived value of the adviser to the client, is one which is still debated continuously.   How often is often enough is the burning question.   Some research done on […]
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How To “Up-Sell” Your Advisory Services
by Tony Vidler        There are many advisory services which most professionals can provide to clients and a distinct area of opportunity is to look at combining those services where it makes sense to do so, and up-sell a higher value package of service to clients. Up-selling is not the same as cross-selling however, and […]
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client-management
What do you have to change to keep clients?
by Tony Vidler        The first priority for any adviser in tougher times is to keep clients that you currently have, right?  Then you can afford to worry about getting new ones. Changes to financial services are coming thick and fast, and advisers know that clients are rapidly changing in their expectations of service, solutions and […]
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