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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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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The Top Challenge In Shifting From Product Sales To Advice Delivery
by Tony Vidler        Lots of financial advisers are still figuring out how to get paid for advice delivery, not just implementation of product solutions.  Now, the simplistic answer is of course: “easy…just position for it and tell clients that’s how you work now.” That answer really is glib though and doesn’t touch upon the […]
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