financial services Archives

Why your FREE service is a barrier to getting the right business

by Tony Vidler Most professionals at some point offer complimentary initial meetings or consultations with clients as a “free service”. It simply isn’t true, and that in itself prevents the right sort of clients coming your way. The fundamental reason why this just doesn’t cut it with consumers is because they don’t believe […]

What you need to know if you buy to grow

by Tony Vidler As many advice businesses reach maturity it is common to consider whether they should “buy to grow”. Should they buy another practice, or more commonly, should just buy a book of business from another practice. The typical reasons suggested for wanting to grow through acquisition are: 1. Get new […]

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. […]

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 […]

What your clients are REALLY worth to you

by Tony Vidler How much do you really think a good client is really worth to you? Most financial advisers will easily work through the basic formula of the average fee/sale per client multiplied by the number of transactions they have with you each year, and then multiplied by the number of years you […]

Which Clients To Keep; Which Ones To Fire

by Tony Vidler More clients is good, right? But when you have plenty of clients on the books the question becomes which clients to keep. Or which ones to get rid of. Actually, advisers should be constantly asking these questions regardless of how big their book of clients actually is. They are not questions […]

This 1 Thing Could Lose You More Than 50% Of Your Clients

by Tony Vidler For just about any practitioner to lose clients is bad, but losing 50% or more of their clients in a year would be a disaster. It is enough to jeopardise a practice entirely of course, but even in a best case scenario it will hurt horribly, and for quite a long […]

Maybe Financial Advisers Could Be Selling Coffee?

by Tony Vidler Do you remember when petrol stations competed on client service? Fundamentally they were all selling the same basic commodity, at about the same price, to anyone who drove up. That included the regulars who lived in the area and who had high lifetime value and the out-of-towners cruising through who just needed […]

The challenge of the DIY consumers for Financial Advisers

by Tony Vidler Some telling research was done by Dr Claire Matthews of Massey University that highlighted the DIY (Do It Yourself) consumers mindset, and the challenges which that poses for financial advisers. The research was specifically on “KiwiSaver and Retirement Savings”, and explored some of the issues and attitudes of Kiwi’s. While the research […]

Marketing places where Advisers just HAVE to be

by Tony Vidler Even if Financial Advisers don’t feel the need to do marketing I would suggest that there are still some marketing places to be for advisers who feel they have enough clients. Even when prospecting for new clients is not a particular issue, professional credibility is. Suppliers, potential referrers, Centres Of Influence…they […]

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