practice management Archives - Page 8 of 26

Why didn’t the client call ME?

by Tony Vidler “Our clients did business with another adviser and didn’t call us to do it – Why?” How often have I heard this from advisers? Too often. It is possible that they just don’t think you are very good, or maybe they just don’t like you. Maybe that is why…but then, why […]

The 4 Cornerstones Of Practice Value

by Tony Vidler Every self-employed financial adviser hopes to retire one day and cash in on their practice value. It’s usually a big factor in their own retirement planning. And so it should be, after what is usually decades of building a great business. Years of grind, rejection, self-investment and self-improvement and more than […]

How do you know when you have a “great practice”?

by Tony Vidler “Great” is so subjective isn’t it? Having a “great practice” is a subjective assessment too…what is great to one adviser might be considered ordinary to another. But the true measure for each (I think) is: “When it is delivering the income and lifestyle that you imagined.” However, that outcome is potentially […]

Where should your Professional Development focus be: becoming a Brilliant Technician or an Orchestrator running the show?

by Tony Vidler Professional development is all the rage…the regulators and the professional associations and training providers in the compliance space are all putting it top of mind continuously. And virtually all of them have an extremely narrow focus when it comes to the concept of developing a professional. They want to develope brilliant […]

Engage, Engage, Engage…Make prospecting a PROCESS!

by Tony Vidler If real estate is driven by location, location, location, then surely the prospecting process is driven by engage, engage, engage. I’ve previously posted about the problem with generating referrals consistently largely coming down to the lack of engagement with, and by, clients. A process of engagement is also often the missing […]

The 10 Things That Successful Advisers Just Do Better

by Tony Vidler The most successful advisers just do better at some things than the average advisers…they are not necessarily better advisers. They just do some things better, and that makes them more successful. Most of those things they do better are not actually about being a better adviser, they are about being better […]

The Maximum Value Zone Of Service For Advisers

by Tony Vidler For many professional services firms delivering value from actively lifting service levels is a means of differentiation, while also creating maximum value for the practice. Improving profitability through service differentiation is good for the practice of course, however it is not a sustainable differentiator in itself which then threatens future profitability. […]

Showing gratitude: Do your clients know that you value them?

by Tony Vidler Silent gratitude achieves nothing. Yet, gratitude is one of the most powerful emotions because it highlights to others that you value them, or what they have done. But gratitude is worthless if you never express it. It also happens to be one of the most simple ways of building client and […]

Who are your most valuable clients?

by Tony Vidler It may seem an obvious question however understanding who the most valuable clients are to a firm is not always as simple as it seems. There is often an innate understanding of who they are however it is often not underpinned by any analysis or hard data. Even when it is […]

Segmentation: Why not have everyone as “A” Clients?

by Tony Vidler Segmentation of clients in your database is sensible, and some sort of labelling to differentiate them is necessary. The idea behind segmenting clients into different categories is to introduce efficiency into a practice while recognising that not all clients are of equal commercial value to the firm. It is also a way […]

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