compliant advice Archives - Page 2 of 3

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 […]

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 […]

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 […]

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 […]

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, […]

You can do personal online-only advice

by Tony Vidler There are some great reasons to go digital in your advice process, especially if you live in a city where traffic gridlock, exorbitant parking costs and insane commercial rents drive up your overheads and kill your productivity. For many advisers now of course, there is no choice but to go digital-only. […]

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 […]

Compliant Advice: Paper Beats Scissors Every Time

by Tony Vidler When it comes to compliant advice Advisers really need to grasp that they are playing a game of “Rock, Paper, Scissors” with every client engagement now. There almost certainly will be an instance where a client throws the Rock…. We try to beat it with Paper. Complaints authority or regulator takes to […]

Time to get with the program on regulation

by Tony Vidler For all the distractions, downtime and inefficiency that comes with new (or more) financial services regulation it is very easy to see it as an imposition. Many advisers conclude that regulation is simply bureaucracy which in itself creates little to no value. I am no fan of meaningless bureaucracy, but […]

Soft Dollars are terminally ill….thankfully

By Tony Vidler, CFP CLU ChFC I’m calling it: Soft dollars for financial advisers as we know them today is officially “terminally ill”. Their death is not quite guaranteed, but the odds are very high that they shall die soon’ish… But I personally think they will die far faster than most expect. And thank God […]

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