profitable practice

SEARCH BY SUBJECT AREA

Get financial adviser coach blog updates via email.
Enter your email address to follow this blog and receive notifications of new posts by email.
Join 318 other followers

sidebar_tony
Facebook: 2831, Twitter: 13061, LinkedIn: 689
Practice Growth Requires Leadership More Than Management
by Tony Vidler        The most frequent thing I see that prevents great practice growth and holds advisers back from developing their dream business is a lack of vision. I don’t mean “vision” in the namby-pamby buzz-word sense of having a beautiful set of words on a plaque on a wall that nobody really cares about. […]
Read more.
6 Things Banks Taught Us About Building A Super Profitable Business
by Tony Vidler         The most profitable business to have in financial services is a bank. They know how to make money.  They understand that the more you know about your customers the more business you can do with them.  Not “will do with them”….but “can”. And that makes a lot of money for them. […]
Read more.
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 […]
Read more.
10 Mistakes That Advice Businesses Keep Making
by Tony Vidler        So many advisory firms do not realise their potential, and the top mistakes which hold them back are more often than not nothing to with their ability to be great advisers. They tend to fall into the category of being basic commercial mistakes. So the main mistakes that advice businesses keep […]
Read more.
The Strategic Evolution Of Advice Firms
by Tony Vidler        The evolution of advice firms into different service and revenue models is happening already of course, but the majority of financial advisory firms appear to still be trying to figure out what the next evolutionary step might be. There’s a classic cartoon that shows the way forward for those advice firms when […]
Read more.
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 […]
Read more.
ideal-balanced-practice
Balancing Adviser Needs and Clients Wants
by Tony Vidler        The professional Financial Advisers’ needs matter as much as the Clients’ wants.  Consumer groups & regulators will probably disagree of course, but the ideal practice is one which surely achieves this balance isn’t it?  After all, practitioners are trying to earn a living and meet the wants and needs of their own […]
Read more.
robo-advice
The Cyborg Practice: Blending Robos With Advice
by Tony Vidler        Future advice practices will be cyborgs; blending robos with advice.  Robotic product and solution delivery together with humans managing relationships and working on strategy will be the single commercial “organism”.   You see, I am convinced that robo-advice models will succeed and prosper. I am also convinced that human advisers will […]
Read more.
great-practice
This is how a Great Practice is built
by Tony Vidler        To make the transition from being a great adviser with a good job to a great adviser with a great practice there are a number of key decision points and areas which have to be done well.  Get them right, and in the right order, and a great professional practice is […]
Read more.
practice-development-hurdles
The 3 Barriers To Adviser Business Success
by Tony Vidler        There are 3 distinct barriers every adviser must manage in their career if they want business success. I am defining “business success” as having more than a job.   Success therefore is wanting their job to become their business.  Each of the hurdles is a defining point which can see an adviser plateau […]
Read more.