Video: Estate Planning

From

With an ageing population and increasing divorce rates, the demand for estate planning solutions will continue to grow rapidly in both the short and long-term. For many advisers, the term ‘estate planning‘ conjures up thoughts of complex, highly technical advice solutions such as wills and testamentary trusts. Whilst some aspects of a comprehensive estate planning […]

continue reading

Hot business tip no. 2: Survey your clients

From

It may seem self evident that you care about what your clients think, and yet – according to Rod Bertino from Business Health – only 15% of practices formally seek feedback from their clients. The same survey – of around 2,000 advisers – found that those who do formally seek feedback from clients are on average 73% more profitable than […]

continue reading

AFA: What consumers really want from their advisers

From

What financial advice clients really want from their advisers is a strong professional relationship. This is one of the findings of New Frontiers, a white paper which assessed the views of over 12,000 financial advice clients over a period of four years, conducted on behalf of the Association of Financial Advisers (AFA) by Business Health, […]

continue reading

Premium Wealth Management releases succession planning Safety Net for advice firms

From

Member-owned financial planning group, Premium Wealth Management, today announced the launch of the next phase of it’s succession planning program ‘Succession Ready’; The Premium Safety Net. The Premium Safety Net provides Premium advisory firms with an immediate solution to preserve the value of the business and removestress for families in the event of unexpected illness […]

continue reading

What do your clients think of you?

From

Few advisers would disagree that providing top class client service is a critical part of running a successful practice, but it is dangerous for planners to assume that they know what their clients think of their service unless they ask them. Even then, asking the wrong questions, or the right questions the wrong way, may […]

continue reading

Benchmarking financial planning practices

From

The advent of benchmarking and the “Balanced Scorecard” have provided many Australian advisory businesses with some fabulous information over the last few years. However, the warning by Mark Twain that there are“lies, damned lies and statistics” should be borne in mind by practice principals who are considering using industry benchmarks as part of their planning […]

continue reading

ASIC: corporate insolvencies on the rise

Official figures released by ASIC today reveal corporate insolvencies have risen 4.4% in the 2010-11 financial year to date. ASIC’s Senior Executive Leader of the Insolvency Practitioners team, Adrian Brown, said that despite a decrease in external administration appointments in May compared to the same time last year, these latest figures show the number of […]

continue reading

Operational Compliance – Can We Tick All the Pre-FoFA Boxes?

From

While we don’t intend to debate the merits (or otherwise) of each component of the Future Of Financial Advice (FoFA) reforms in this article, like everyone who is truly committed to building a robust and sustainable advice profession, at Business Health we have been following the discussion surrounding the reforms with great interest. However, while […]

continue reading

Not To Do In 2011

From

Notwithstanding the rollercoaster ride which has been financial services for the past few years (forever it seems at times!), there’s no doubt in our mind that another challenging year awaits us all. The financial services marketplace has been changed irrevocably in our view – there can be no going back to the way it was. […]

continue reading

2010 – How ‘healthy’ are Australian practices?

From

As Australia’s baby boomers move inexorably towards their retirement, many will turn to their financial adviser for help and guidance. How much will they need to fund their retirement? What about all those complex taxation rules? How can I begin to help my children out? And so the questions continue. This will undoubtedly place the […]

continue reading