Get financial adviser coach blog updates via email.
Enter your email address to follow this blog and receive notifications of new posts by email.
Other useful resources
Facebook: 2831, Twitter: 13061, LinkedIn: 689
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 […]
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 […]
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 […]
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 […]
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 […]
by Tony Vidler It seems to me that it is worth advisers asking themselves what their risk tolerance is as business owners given all the market and regulatory changes that have occurred in a reasonably short period of time. When contemplating what changes should be made in response to more regulatory reform or fundamental industry […]
by Tony Vidler I support a compliance focus 100% ….but I support a client focus 100% too. All too often it is impossible to achieve 100% for both simultaneously though. Where does a professional compromise? Or does one not compromise? I think this picture captures the challenge of delivering compliant “best […]
by Tony Vidler If we can make more effective advice recommendations we increase comprehension and engagement and shorten the implementation timeframe. That’s good for everyone involved in the process. More people will follow our advice, we help more people get the outcomes they are looking for, and business is better for everyone. So […]
Use Visual Aids To Create Better Advice Engagement
by Tony Vidler Advisers try to create simplicity from complexity, and the most effective way of doing that is to use visual aids. They create quicker understanding and better engagement simply because most people find it easier to comprehend new or difficult information when it is presented visually. We all know from personal […]