compliance Archives - Page 2 of 12

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 […]

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 […]

Sales Technique Is The Key To Opening Minds

by Tony Vidler “Sales Technique”…the very phrase sends shudders down the spines of professionals today it seems. Despite the focus on our increased technical knowledge and the emphasis upon good process, financial advisers do actually have to “sell” – even if they don’t want to face up to that. A large problem for many newer […]

How to take the “R” out of FREE Advice

by Tony Vidler Traditionally the financial services sector has been almost entirely remunerated via commission, and many advisers are still grappling with the basic question of how to make the transition – even if only in their minds – from working solely on commissions to charging clients directly for advice and/or service. Consumers perceived […]

Nobody Believes Your Advice Is Actually Impartial AND Free

by Tony Vidler The problem with “FREE” is nobody believes that whatever you are offering is actually free. It might seem free in terms of there being no invoice or obvious price tag, but that doesn’t mean it is “free” does it? Consumers today are alert, have a world of information in their pocket […]

Effective or Efficient? Which do Advisers need to be?

by Tony Vidler Which is more important when running an advice business: being effective or 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 of how […]

How To Get Buy-In From Clients To Full Advice

by Tony Vidler Clients often want advisers to deal with just one element of financial planning…their current “burning issue” that triggered the need for advice to begin with. Getting them to engage in full advice can be tough and they need to understand what you CAN do for them, and where your knowledge and skills […]

How do you know your financial advice is suitable?

by Tony Vidler Knowing that your financial advice is suitable for a client is something that every professional adviser is willing to attest to, but proving it when challenged can be incredibly dificult. Advisers are increasingly being challenged and therefore seeking assurance that their practices are robust and will withstand such scrutiny. Whether that scrutiny […]

Are you sure your clients know what else you COULD do for them?

by Tony Vidler All too often advisers are disappointed to find that a client has done business elsewhere…that their “main” adviser could have done for them! The reason is usually a very simple one: the clients do not know everything we could do for them. Or perhaps they did know, but forgot. Or worse, […]

Professional Triage: Targeting The Immediate Need

by Tony Vidler A huge mistake many advisers make is trying to deliver comprehensive advice to a client concerned only with an immediate need. We need to recognize when triage is required, as opposed to when ongoing nursing is needed. The immediate need is the more often the trigger for an advice client to coluntarily […]

compliance

SEARCH BY SUBJECT AREA

Get financial adviser coach blog updates via email.

Other useful resources

Fresh ideas delivered to your inbox