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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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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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advisor-risk-tolerance
What is YOUR Risk Tolerance as an Adviser?
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 […]
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compliance-focus
Client Focus or Compliance Focus?
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 […]
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follow-advice
How To Make More Effective Advice Recommendations
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 […]
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visual-aids-in-advice
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 […]
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Replacing Insurance: Right? or Always Wrong?
by Tony Vidler         Replacing insurance – or “Churning” as it is often called –  is a topic guaranteed to generated heated debate within the industry.  At one extreme there are advisers whose entire business seems to exist by churning anything and everything that they can get their hands on…regardless of consequences to the consumer.  At […]
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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, […]
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