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5 Simple Steps To Audit Yourself
by Tony Vidler        How can an adviser be confident their advice is good before trouble starts?  In other words, how do you audit yourself? There are 5 key things that the adviser must do – and be able to evidence afterwards – to show that they have worked for the benefit of the client, and […]
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challenge your thinking
Innovation in delivering Financial Advice: Does it have to be this way?
by Tony Vidler        “Innovation” and “delivering financial advice” do not usually go together for the majority in the industry. The way advice is delivered by tens of thousands of professionals tends to gravitate to the same methodology.  There is safety hiding in the herd, right?     Then the  type of advice delivered by tens […]
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influencer soft skills
The Essential Soft Skills Needed To Influence
by Tony Vidler        To influence others requires softs skills rather than hard core sales skills and techniques.  The financial adviser is supposed to be an influencer…our role is to influence others to make better decisions than they would otherwise have made. In order to become a more effective adviser the ongoing development of the […]
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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 […]
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SOA
A Statement Of Advice should be a “statement”
by Tony Vidler        When it comes to providing advice in writing to a client there is undoubtedly unnecessary complexity usually.  In fact the proverbial “Statement Of Advice” has become anything but a “statement”.  It generally takes the form of a tome… And a “tome is a scholarly work…usually large, heavy and laborious in its detail“. […]
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Compliant Advice: Here are the only 3 things that matter
by Tony Vidler         Whenever the topic of compliance, or the “advice process”, comes up most advisers see themselves like this: Everyone is throwing everything at you with the sole intention of destroying you, right? As a consequence, compliance is largely considered a burden.  As is usually the way of these things a substantial body […]
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Compliance Can Be Torture For Consumers
by Tony Vidler        Compliance has a lot to answer for.  Compliance can be torture for consumers, and that is not good for them or the industry. One of the truly negative consequences of evolving best practice advice standards is the trend to torture clients with excessive paperwork.  Now torture is a rather harsh word, and […]
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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, […]
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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 […]
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best-practice-advice
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 […]
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