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Do you actually have a Strategy?
by Tony Vidler I get it: coming up with a competitive strategy can be hard. But it is even harder if you don’t know what “strategy” is to begin with. And if you don’t what strategy is and haven’t deliberately decided what yours is, then you are destined to bob along in the general stream […]
by Tony Vidler New rules and regs are coming everywhere you look, and the uncertainty level amongst advisers is just about at an all time high. The most common question in the business that people like myself are being asked is “what should I do?” Get clear about what you want from your business. […]
by Tony Vidler There’s a classic cartoon that shows the way forward for advice firms when it comes to how they must evolve. It is called “The evolution of an entrepreneur” and even though it is aimed at those starting out, it captures where the advice industry has come from and where it currently sits […]
by Tony Vidler Asking financial advisers what THEIR risk tolerance is seems odd to many at first glance. However, when contemplating what changes should be made in response to more regulatory reform this is the NEXT question which should be addressed after answering the “what do the new rules say I have to do?” question. […]
The Ideal Practice: Balancing Your Needs & The Clients Wants
by Tony Vidler Heresy: The Professionals’ needs matter as much as the Clients’ wants. It shouldn’t be heresy to say this aloud 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 […]
Where will the greatest disruption to your practice come from?
by Tony Vidler Disruption has long been a feature of financial services distribution. Generally disruption occurs with new market entrants, product innovation, shifting strategic focus on the part of suppliers in relation to control or autonomy of distributors….but disruption has typically come from within the industry itself. Many years ago I read a piece of […]
Why Advisers Need To Invest In Their Businesses, Now
by Tony Vidler For most of my advisory career there has been a very real opportunity for advisers to operate “lifestyle” businesses. It has enabled them to largely choose when they will work; who they will work with; and how much they will earn. It has cost little to run and required virtually no […]
Using Practice Technology As A Competitive Advantage
by Tony Vidler In professional services everyone is looking for a competitive edge, and how we implement and use practice technology is an area that often has untapped potential to provide us with business advantages over the competition. When it comes to deciding HOW you wish to compete strategically there are not that […]
Getting Strategic Clarity For Your Practice Is Just Like Giving Advice
by Tony Vidler The most important business-building step is having a well-defined strategy, yet strategy is one of the most misunderstood concepts in professional services. It is an area that many advisory firms struggle with, and frequently find themselves without any clearly defined strategy for how they will achieve their business objectives. That is […]
Advisory Firm’s That Are “Going Out Of Business” Without Even Realising It
by Tony Vidler I have a strong sense that a lot of advisory firms are “going out of business” at the moment and don’t even realise it. Markets are going well, and commission and fee rates are still at the high end of the scale, and there are still plenty of consumers using […]