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.

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!

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.

It’s been a big year for Mayflower Consulting, hence the lack of regular newsletter. Not that we like to brag, but there was a successful $10b Responsible Entity transition in March – one of the biggest of its kind in Australia - and Mayflower Consulting might have been involved. But that’s all in the past right? So here’s what’s next…
 

There are few management ideas that have made as much difference to me as this one. And it’s such a straight forward idea.

Mayflower Consulting has partnered with Objective Corporation (www.objective.com) to provide an end-to-end management service for PDSs and other related regulatory documents. Combining the power of the Objective Keystone document management platform and good old-fashioned project management, Mayflower Consulting will work with fund managers and super funds to take the pain out of PDS!

Mayflower Consulting Managing Director, Sarah Penn, was recently interviewed by AccountantsDaily for their podcast series. She discusses ‘horrified expressions’, dieting, pricing, marketing and more. You can listen via the Accountants Daily website download from iTunes or subscribe to the podcast in your favourite podcast app. 

Marketing is a funny thing. On the one hand, it looks so simple – anyone can write an article and send an email these days. And with all the great online tools, it should be easier than ever before to promote your business. Right? Wrong.

Don’t sell yourself short – make sure you’re charging your clients appropriately and channelling your value where it’s needed.