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Client Complaints: Fight it, or just Fix It?
by Tony Vidler Client complaints are a fact of life. It is virtually impossible to run a service business where everyone is happy 100% of the time, as human beings are involved and they are unpredictable creatures with ever-shifting expectations. The art of good client complaint handling is knowing when to fight and when to […]
by Tony Vidler Financial Advice is not going through some changes; constant change is the new normal. Whatever regulatory stuff you are going through now in your particular jurisdiction will not be an end to it. It will be ongoing. More importantly though, regulatory change is not the BIG change which will become the constant […]
Commission-Based Life & Health Advisers Need To Get Moving
by Tony Vidler There is clearly a mood afoot for various industry stakeholders to see up-front commissions reduce in size in a number of financial products, particularly in life and health insurance products. It will become a self-fulfilling prophecy of course, as the more it gets debated the greater the acceptance of the inevitability. […]
How to balance client time with practice development
by Tony Vidler A genuine challenge for advice firms right now is balancing client time as well as do all the work necessary to lift standards and improve business systems. There are after all only so many hours in a day, but then there are deadlines for when new standards and rules have to be […]
Is Insurance Churn Really The Issue We Think It is?
by Tony Vidler Any time an insurance product is replaced by an adviser with an alternative one someone begins howling about “insurance churn” or “twisting of policies” and the immediate inference is that something unethical just occurred. Sometimes that is true of course, and there are undoubtedly bottom feeders in the industry who survive by […]
by Tony Vidler The perpetual worry for financial advisers in the often over-regulated environment is “how can I be sure that my advice will pass the test?” The concern is understandable given that policymakers typically do not understand the difficulty of applying any sort of objective assessment of suitability to professional opinions – which […]
by Tony Vidler Is there a cunning plan for your practice to thrive amidst the changes coming at the financial advice sector from all directions? What is the plan then? What is the strategy? Those 2 questions might look like the same question, but they are not quite. The cunning idea, or the strategy, is […]
Choose your words carefully…they can change the choices that prospects make!
by Tony Vidler There are decades of good quality research now which help us understand how people are influenced, and what words or language are most likely to influence them. The words that financial advisers choose to use matter more than ever before if we want people to follow our advice given that professional advice […]
There are 2 big questions before you fire a client.
by Tony Vidler I encourage you to try this: fire a client. It is liberating, and it moves your thinking and sense of self worth onto a different professional plane. Pretty much everyone who has been in professional practice for more than a year has at least one or two clients who are just a […]
Give clients time to think and "Buy In" with this simple trick
by Tony Vidler There is a wonderfully simple technique that all professionals should be using every time they make a recommendation…. …of the challenge giving advice in what is usually a difficult area for consumers to comprehend easily or rapidly. Consumers usually need a few seconds longer in processing time as the concepts financial advisers […]