compliance Archives - Tony Vidler

How to validate your preferred solutions

by Tony Vidler Most experienced advisers have preferred solutions that they go to first. But the variety of preferred solutions from those very good advisers often concerns regulators and industry observers…and that’s usually because there is a process lacking for validating those preferences. Everyday the situation arises where one adviser recommends Company A as a […]

Eliminate tyre kickers, and value your expertise properly

by Tony Vidler Being properly valued for your expertise and eliminating the time-wasting tyre-kickers is an ongoing problem for many financial advisers. That is even more true for those making the transition from purely commission-based remuneration to generating fee-paying work where they are charging for that time or expertise. Managing the remuneration transition whilst also […]

Paying COI’s: Should You Be Sharing Fees Or Commissions?

by Tony Vidler Is it appropriate to be paying COI’s a share of your success from their introductions or referrals? Should you share fees or commissions in other words. Personally, I think not. However, it is just a little more complicated than a simple “yes” or “no” because there are perhaps conflicting views. So […]

If you still need more clients then you probably need different skills

by Tony Vidler Financial advisers who need more clients need to be better marketers than salespeople in todays environment. For most that means they probably need new, or more, skills. Not more technical skills; more commercial skills. While financial advisers have been figuring out how to get ever-more-compliant and deliver yet-more-paper over the […]

There are 2 big questions before you fire a client.

by Tony Vidler I encourage you to try this: fire a client. It is liberating, and it moves your thinking and sense of self worth onto a different professional plane. Pretty much everyone who has been in professional practice for more than a year has at least one or two clients who are just a […]

Why we get fee resistance

by Tony Vidler Whether we like it or not there is always the possibility of fee resistance in delivering financial advice, and how we present our service is a large part of that problem. Price is always a problem in the absence of obvious value. It doesn’t have to be…we just need to think through […]

How can you be sure that your advice will pass the test?

by Tony Vidler The nagging worry for financial advisers in today’s environment is “how can I be sure that my advice will pass the test?” The concern is understandable given that policymakers typically do not understand the difficulty of applying any sort of objective assessment of suitability to professional opinions – which is fundamentally what […]

How to balance client time with practice development

by Tony Vidler An ongoing challenge for advice firms is balancing client time with all the practice development work necessary to have a better business. There are after all only so many hours in a day, but then there are deadlines for when new standards and rules have to be met if one is to […]

Is Insurance Churn Really The Issue We Think It is?

by Tony Vidler Any time an insurance product is replaced by an adviser with an alternative one someone complains about “insurance churn” or the “twisting of policies” and the immediate inference is that something unethical just occurred. Sometimes that is true of course, and there are undoubtedly bottom feeders in the industry who survive by […]

Professional Practice Evolution: What Separates Modern Professionals From The Past?

by Tony Vidler There are lessons to be learned from the evolution of the modern professional practice for those who are not quite there yet. When you compare the two – the modern professional financial advisory practice, and the historic product-focussed financial services brokerage business – it seems there are 5 distinct points of difference […]

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