Maybe financial advisers could be selling coffee?

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Do you remember when petrol stations competed on client service? Fundamentally they were all selling the same basic commodity, at about the same price, to anyone who drove up.  That included the regulars who lived in the area and who had high lifetime value and the out-of-towners cruising through who just needed the go-go-juice so... Read more continue reading

Advice practices have a social media presence, but referrals remain a challenge for many

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The majority of advisers who attended BT’s recent social media webinars have a presence on social media, however only around a third are converting their social media activities to referrals. Nearly 400 people attended BT’s three-part social media webinar series, during which BT conducted a survey on advisers’ social media usage, gaining valuable insights into... Read more continue reading

The shortcut to creating trust

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Simply creating trust with a prospective client is the initial hurdle to having them engage in the advice process.  To be fair the required level of trust initially is relatively low – can they trust you not to waste their time…can they trust that you really know what you are doing….can you be trusted to... Read more continue reading

Is your marketing budget as big as your dream?

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Nobody likes a budget – even financial advisers don’t. But a marketing budget for your business is a good budget…it’s an investment in growth. Even well established advisory firms usually want growth as they usually  want to do more business with higher value and more challenging client cases. For early stage advisory practices the marketing... Read more continue reading

Socialise with key clients and get more business

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We know intuitively that when we socialise with key clients it builds trust and ultimately we get more business. More conversations create more opportunities, right? What we don’t know though is how much more business it leads to…so we often wonder how much more we should socialise with key clients, right? I came across some... Read more continue reading

Advisers and accountants may need to rethink M&A plans

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The accounting and financial advice industry is awash with buying opportunities and cashed-up buyers are in poll position to snag quality assets with the institutions out of the running, according to a new paper by AZ Next Generation Advisory (AZ NGA). Build or buy: A guide to merger & acquisition fundamentals, the second paper in... Read more continue reading

Build capacity with virtual assistance

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Increasing professional service capacity is a challenge… do you wait until the decrease in service levels is costing you business? Or do you spend money you haven’t made yet to provide service which is not required by the extra clients you don’t have yet? As a financial planner, what extra roles do you assume when... Read more continue reading

The power of a vision: Because your future has to start somewhere.

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Vision is the thing that initially drives all progress.  Somebody’s view of how something can be…will be….is the catalyst for achievement of great change. Who will ever forget  the power of one man’s vision: “I have a dream….”? His vision of how the world could be. Should be. Would be. One day. But what was... Read more continue reading

Financial institutions spend 14% of operating costs on change management

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Financial institutions are spending, on average, 14% of annual operating costs on change management functions in order to drive greater productivity gains, a new PwC study has shown. According to PwC’s report, “Productivity 2021 and beyond: Upskilling the workforce of the future to create a competitive advantage in financial services,” more than one in four (27%) firms are spending more... Read more continue reading

A strong duty of care for seniors will increase the value of your business

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Strange as it might seem, financial advisers might be on the cusp of a golden era. Not only will it enhance their bottom lines, but it will increase the market valuations of their practices. For those that focus on senior Australians, the financial rewards could be even more pronounced. There are myriad reasons for asserting... Read more continue reading