compliance Archives - Page 6 of 12

why financial planning clients leave the financial adviser

Client Twisting: Why clients move

by Tony Vidler Clients move firms. It is just a fact of life. When they leave us most times we blame someone else…we call it “twisting” or “churning”. The immediate inference is the client only left because somebody else – who is less ethical – took perfectly good business and moved it for no […]

The uncertain road ahead for advice businesses

by Tony Vidler One certain thing for advice businesses is that there is a huge amount of uncertainty. Practice owners have had a lot of “alone time” in the last couple of years quietly contemplating the road ahead and trying to figure out what do they have to do to prepare, or adapt. […]

Compliance & social media use for financial advisers

How Advisers can remain compliant while using social media

by Tony Vidler The difficulty of using social media but remaining compliant as a financial adviser seems to be a concerrn cited as a reason to not use social media by those advisers. Various aspects of “compliance” are cited: the provision of best practice advice, privacy constraints, or legal responsibilities to a corporate stakeholder, […]

If It Is Not Simple, You Are Not Working Hard Enough

by Tony Vidler It takes a lot of work to make complex advice simple and succinct, and nowhere is this more apparent than in the creation of a financial plan or Statements of Advice. Those 40 page plans, or worse those 80 page plans and pieces of written advice, are barriers to consumer engagement […]

A financial advisers best weapon: The Meeting Agenda

by Tony Vidler One of the most powerful weapons in an advisers armory is the Client Meeting Agenda. Yet, so few use them regularly…. The client meeting agenda sets up the entire professional relationship – not just the next hour or so that you happen to be with a client. In addition; It minimises […]

How To Get Paid For Each Piece Of Advice You Give

by Tony Vidler Here’s a simple strategy for getting paid fairly for the advice you give….and I mean getting paid for ALL the advice you give…every step of the way. There are broadly three possible parts to any client work: 1. Planning 2. Implementing, or “putting in place” any planning recommendations 3. Ongoing […]

The Art Of Giving Suitable Advice Which Is Defensible

by Tony Vidler The most challenging area in forming a professional opinion is ensuring that it is “suitable advice”, as what is suitable is subjective – until the time comes somewhere in the future to see if the advice actually worked. Despite the issue of nobody actually knowing whether advice really was suitable much […]

Handling Regulatory Uncertainty

by Tony Vidler The regulatory uncertainty level amongst advisers is just about at an all time high. It’s not just new rules that create the uncertainty; it is the shift to principes-based or outcome-focussed regulation that doesn’t have the definitive and prescribed series of “thou shalts” and “thou shalt nots” which creates the most uncertainty. […]

Best Practice Advice Means Meeting Client Expectations Too, doesn’t it?

by Tony Vidler What constitutes “Best Practice” advice process is a constant work in progress, but it does not develop as rapidly as either technology or client expectations do. In fact, there is a distinct probability that the gap between what professionals call best practice advice and what clients expectations of best practices are continue […]

How Much You Know Is Not That Important

by Tony Vidler Professional financial advisers know way too much to be used in any given client meeting or engagement. Yet too many think that how much you know is what matters. One of the great skills of the super successful professionals in fact is figuring out what stuff they know which is not […]

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