Watch my latest video presentation for easy tips and tricks to deliver a better onboarding experience to your clients!Read More
Professional insights and industry observations, sharing our experience and expertise is at the heart of what we do.
I recently participated in an interesting online discussion about ongoing fees and annual reviews – specifically what to do when your service package includes an annual review but you can’t get the clients to the table no matter how hard you try. It got me thinking about what an ethical approach to this issue looks like. Here were my initial thoughts.Read More
I recently had the pleasure of speaking at the Accountants Daily Strategy Days. My presentation was focused on how to market your business. One issue that I had a bit of a rant about was blogging. Everywhere you look there’s someone telling you that content marketing (aka blogging) is the ONLY WAY TO GO and if you aren’t doing it, you’ll get LEFT BEHIND.Read More
Recently I talked about the findings from a piece of research that Vanguard did in 2016. You can read about that here. I am also pretty keen on the old market research, and did some of my own with consumers who have seen an adviser for the first time in the last year or so. There were lots of interesting findings, but one that was seriously concerning. It turns out, that your clients aren’t really sure if they can trust you, even after they have implemented your advice!Read More
Yesterday I heard about a report that Vanguard put out last year, focusing on what determines trust in an advice relationship. They surveyed 3400 advised clients (in the US but the findings can be applied here I think) and found that the key factors could be grouped into three areas: Functional, Emotional and Ethical. Emotional factors account for 53% of the overall trust that the consumer has, Ethical factors 30% and Functional factors only 17%.Read More
So, life is pretty crappy right now in the land of financial advice. Between the Royal Commission, the Dover implosion, ASIC’s ongoing war on compliance issues, the court cases and the new education standards, you could be mistaken for thinking that we are seeing the beginning of the end of financial planning.
While I agree that the industry is in the middle of a pretty tough time, I really believe that the long-term future for financial advice, and financial advisors, is excellent. And here’s why…Read More
I was lucky enough to meet with the Financial Ombudsman Service recently. I specifically wanted to find out what product providers could be doing differently when it comes to complaints regarding investments, super and insurance. My particular interest is around PDS disclosure, but of course FOS considers much more than just offer documents. It was a fascinating discussion and here is a summary of the key issues that FOS are currently seeing.Read More
It’s all about goals these days. Goals based advice, the new AMP Goals system, for example. And not just in advice. There’s a plethora of podcasts about how to achieve your goals, how to set goals, why you need goals, the list goes on!Read More
I’m a member of a couple of Facebook groups that focus on improving financial advisory businesses. There’s always lots of interesting discussion, and I’ve noticed a bit of a theme of late of “I have had enough of Xplan/Coin, what should I use instead?” Which is generally followed by lots of advice and comments from other planners. Which is great, except the advice never includes the idea that you should step back and work out what you need before buying new software.Read More