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Let’s be honest with our honesty
by Tony Vidler Disclosure is back on the regulatory agenda again, and the rules will undoubtedly be changing yet again. There is no doubt in my mind that disclosure of costs, fees and conflicts enhances trust and professional credibility. However, there is also no doubt in mind that disclosure can be taken so far that […]
What you need to know if you’re going to 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 […]
by Tony Vidler A constant question for many advisers, particularly when they’ve been sitting about over a break quietly contemplating the road ahead, is what do they have to do to prepare, or adapt? Obviously there is enormous uncertainty about what lies ahead for advice businesses; some of it predictable and some of […]
by Tony Vidler An adviser who plans on being in the business for another couple of decades asked what the point is in paying for an expensive and fancy CRM system. Honest. He did ask that. He has a list of clients in Outlook and has the clients home addresses, phone numbers, and sometimes […]
by Tony Vidler The elite performing financial advisers are substantially better at positioning themselves professionally than average advisers are. That positioning really pays off too: surveys suggest that they get 2.5 X MORE business from new clients than average advisers. And to really highlight the performance difference they are getting vastly higher business levels […]
Give clients the Red Carpet. (But only a small one!)
by Tony Vidler What is more effective: running a client seminar with 100 guests, or running 5 client events of only a dozen or so at a time? Research suggests that the best financial advisers tend to run smaller and more intimate client appreciation events, and do them regularly. The best advisers […]
by Tony Vidler Knowing and working exclusively in your niche is nirvana for most professionals. Your niche is that absolute sweet spot where what you are fabulous at overlaps with what you love doing, and it is something that other people value and will pay you for. It is not a simple […]
Written Advice: Should it be Clear? or Concise? Or Effective?
by Tony Vidler When it comes to communicating our advice to clients we are guided by the words used by the regulators, or law, to guide us in how that should be framed or delivered. Or we think we do. The written advice, be it financial plans or Statements Of Advice being […]
by Tony Vidler Just about every professional says they want to be growing their business….they want fresh ideas; the business satisfaction of solving new problems for new people; they want to do something NEW. When you ask whether they want new business or whether they want new clients, there is usually a delicate […]
by Tony Vidler Many firms facing increased overheads and infrastructure costs in the next few years are considering acquisition or merger strategies as a survival or growth strategy. Generally there appears to be 5 main reasons that advisers suggest as their reasons for acquisition of another business. They are: 1. Get new […]