Opinion

Certainty Blog

A Disastrous 2020?

A Disastrous 2020?

The 11th March 2011 Fukushima nuclear disaster caused by the Tohoku earthquake was the worst nuclear accident since Chernobyl in 1986. However, while no deaths are due radiation exposure from the disaster itself, new research suggests that more people suffered and...

The Advice Yips…

The Advice Yips…

Read Good Walk Spoiled? I reckon it’s a great book. It’s about golf, but really a story about characters. Characters under pressure. That’s golf – either a casual hit or a classic test of character. At the highest levels of the game, the classic tests can be...

Valuable Connections – The Future of Advice  

Valuable Connections – The Future of Advice  

When we focus on ourselves, our world contracts as our problems and preoccupations loom large. But when we focus on others, our world expands. Our own problems drift to the periphery of the mind and so seem smaller, and we increase our capacity for connection. Daniel...

Financial Advice: A loss leader for lost leaders?

Financial Advice: A loss leader for lost leaders?

“Life moves on, and so should we.” Have you read Who Moved My Cheese by Spencer Johnson? It’s one of those annoyingly good books that easy to read, makes lots of good sense, yet hard to implement. It reminded me of the state of financial advice in Australia....

Can Financial Planning Firms Survive?

Can Financial Planning Firms Survive?

When do you know you are going out of business – just before you do. Why? Framing Bias. Amos Tversky and Daniel Kahneman explained this years ago. Basically, when options are framed positively, most of us have a natural bias to favour that option. Whereas when options...

Car Parking, Superannuation and Advice Fees

Car Parking, Superannuation and Advice Fees

Our #2 Daughter, the family’s leading actress, recently flew off to find work hopefully in Netflix’s expanding presence in Vancouver, BC. Going for a couple of years, or longer based upon future stardom, the family wanted to hang around until her final few steps with...

How about we regulate the price of financial advice?

How about we regulate the price of financial advice?

Paying for financial advice is like paying for electricity. Really? Yes, according to Alan Kohler, Editor-In-Chief at InvestSmart.com.au. Alan knows a thing or two about investing. His web page offers lots of investment options with a who’s who of experienced people...

Setting Better Standards

Setting Better Standards

President Trump resets standards tweet by tweet. Telling four Democratic congresswomen to ‘go back’ to where they came sets new expectations of how the world’s most powerful office deals with a contrary opinion. Last week, new standards of governance were recommended...

The Big Short II, III, IV etc…

The Big Short II, III, IV etc…

“At the end of the day, average people are going to be the ones; they are going to have to pay for all of this. Because they always, always do” ~ Mark Baum, played by Steve Carell in THE BIG SHORT.   We still don’t get it. Did you see or read The Big Short? Great...

The Advisers Netflix Moment

The Advisers Netflix Moment

My eldest daughter loved her first job. It was in our local video store during her last years at high school. Way back, she was always the one we had to drag out of the place by the collar of her Wiggles dressing gown every family video night. Her joy working there...

What to learn about our financial lives from the pre-election polls

What to learn about our financial lives from the pre-election polls

Another election, another upset, another realisation. The realisation is that the pre-election polls distracted everyone from what quiet Australians were thinking. They were out of touch and a significant distraction. So be careful when you hear the first promises the...

Over-priced plans

Over-priced plans

I love flying. Always getting distracted by overhead planes, I’m regularly tuning into flight radar to check out stuff. Obtained my fixed and rotary wing license thirty years ago and would have the world aeronautical charts up on my walls if the family let me. The...

Value before Price

Value before Price

Is now the time to join the crowd shifting to industry funds? It depends on the value being sought. Value means different things to different people. Whether buying your morning coffee or another pigeon to your flock, we all value things differently. In many ways, the...

What I learned about financial advice from Kodak

What I learned about financial advice from Kodak

Remember how we used to buy memories? We’d buy some film for our camera. While we don’t buy film anymore, we still value memories. In fact, we value and share memories more than ever – about 300 million photos uploaded every day. That growth wasn’t anticipated,...

What’s conflicted advice?

What’s conflicted advice?

The Chinese-based Huawei Group seems to be conflicted. Despite being recognised as a world-leader in forth-coming 5G telecom technology, western countries are reticent to trust them to advise, build, and maintain their future data highways. Similarly, Robert Muller’s...

Hayne – Set – Re-Match

Hayne – Set – Re-Match

 “When you're up to your armpits in alligators, it's difficult to remember that the original objective was to drain the swamp.”   The Hayne report was an anti-climax. When our Treasurer announced the report with “From today, the banking sector must change, and...

What Price Advice?

What Price Advice?

My family is full of creative types. All the kids and wife are active artists, except me. Actresses, writers, drawers, and designers. All super talented - of course. But I was a tad surprised when some of their drawings and works were recently bought for use on a...

A hope too high for FASEA?

A hope too high for FASEA?

Have you heard of FASEA? It’s the relatively new Financial Standards and Ethics Authority, established in April 2017, well before last year’s Banking Royal Commission, to set the education, training and ethical standards of licensed financial planners. It’s creating...

How To Find The Right Financial Adviser

How To Find The Right Financial Adviser

How do you identify the right financial adviser? It’s hard. Moreover, it is potentially getting harder. Last week the government’s chief economic adviser – the Productivity Commission - recommended the formation of an expert panel to select the ten best superannuation...

How To Determine The Value Of Advice Post Royal Commission

How To Determine The Value Of Advice Post Royal Commission

Have you read Robert Cialdini’s book Influence? Great book. I re-read it over Christmas. It reminded me of the influential ‘short-cuts’ in our lives. Those psychologically engrained triggers we each develop that either warn, encourage, hinder or help us quickly make...

What my garbos can teach the banks…

What my garbos can teach the banks…

I’ve always left a case of beer out for our garbos each Christmas. However, this year they were not able to accept it. It’s ‘not part of council’s new code of conduct’. Really? I value the job done by our garbos in the early hours every Tuesday morning. Value was...

Genuine People caught in disingenuous places?

Genuine People caught in disingenuous places?

Maybe there is a beast…maybe it’s only us.” ~ Lord of the Flies – William Golding What happens when genuine people are caught in a disingenuous place? What did the people working on Manus Island caring for Australia’s unwanted refugees best do about their...

What’s really at stake post Justice Hayne’s Royal Commission?

What’s really at stake post Justice Hayne’s Royal Commission?

What’s really at stake post Justice Hayne’s Royal Commission? It’s bigger than the gob-smacking headlines such as CBA telling it’s board one thing and ASIC another, even the new Chair of CBA considering the Hayne royal commission a threat to stability, or the poor...

Valuable conclusions from our Royal Commission?

Valuable conclusions from our Royal Commission?

I didn’t hear much about value in the Banking Royal Commission reporting. Pity. Specifically, I didn’t hear much about the value Australians have been seeking in their financial lives from their bankers and advisers. Counsel assisting Mr Hodge QC came close to it when...

How Advice Firms Grow – Wobble Theory

How do Advice Firms Grow? In many ways. But I believe there are distinct patterns that if understood as part of a bigger cycle, it may help you grow faster or appreciate how you are growing (or why you are not growing as you'd hoped). I've developed a growth model...

How to identify good Advice Conversations…

    How do you know you're having good financial advice conversations? What are the things to listen out for, to query, or to notice to confirm you having good advice conversations to ensure you're on track for your best possible financial future? It's not...

The new financial advice models – it has to be about value

  For many inevitable reasons, traditional financial advice models are changing. To date, there have been two main aspects underpinning the delivery of personal financial advice. These two aspects have been the amount of money an individual has, and the financial...

No strings attached financial advice – it’s the future of advice.

No strings attached financial advice – it’s the future of advice.

Katie and Tim are clients of Reine Clemow and his right-hand-lady Donna Loverick at Acquira Wealth Partners in bustling Southport. You know what struck me listening to them? Katie and Tim were very informed, aware and particularly certain of one thing. They didn't...

Future Australian Advice – predictions as the banks exit…

Future Australian Advice – predictions as the banks exit…

Another bank is exiting wealth. Saying his objectives are all about simplification, NAB CEO Andrew Thorburn used unsurprisingly similar language to ANZ's CEO Shane Elliott nearly two years prior when he too concluded that they really did not understand advice enough...

Advisers fighting to retain their ‘grandfathering’? What?

Advisers fighting to retain their ‘grandfathering’? What?

What's with financial advisers fighting for their 'grandfathering'? Should you care? Quite possibly. Because it could be your money the advisers are fighting to hang onto. Firstly, what does grandfathering mean? Wikipedia suggests that 'grandfathering' "is a provision...

AMP? The future…

AMP? The future…

The future of AMP? I reckon they’ve only one option. But first, a reminder of those days pre the 2000 Sydney Olympic Games. I first heard the term ‘puzzle-palace’ in the reception of AMP Alfred Street’s Sydney foyer – it was just pre-Games. The helpful guy manning...

What I’m learning from the cute ads from the banks?

Have you noticed? Maybe I'm watching too much TV? (c'mon the Commonwealth Games are on!) But I can't help notice how many cute ads the big banks are pushing at us. (BTW - if interested, check out this great piece from We Are Social - explains nicely the five main...

The stone rejected by the builders, turns out to be a cornerstone?

Penny works within a busy accounting and financial planning firm in Brisbane. Raised and spent most of her adult life in the small country town near Toowoomba, she knows all about close-knit Australian communities and how important they can be for each other. She's...

Seeking Financial Advice? Understand yourself first…

Seeking Financial Advice? Understand yourself first…

Plato wrote a few centuries ago that the 'cure of a part should not be attempted without treatment of the whole'. A glimpse at most adverts for financial advice seems to contradict his philosophy. Most adverts suggest self-managed super funds, or low-fee investment...

Valuable Client Meetings – The Secrets of the Value Approach

Valuable Client Meetings – The Secrets of the Value Approach

What are the secrets to consistent and successful delivery of your most important client meetings? Firstly, rapport-building is over-rated. Whilst I agree that rapport provides a vital oil between all successful relationships, I reckon too many advisers use rapport...

Don’t take that advice – because it ain’t advice…

Don’t take that advice – because it ain’t advice…

I hope Commissioner Hayne's recommendations are going to help us all understand that the vast majority of today's financial advice is not financial advice. Initial messages from his Royal Commission suggests he is focussed on how we've ended up with a banking and...

Why the adviser’s voice recorder is the surgeon’s scalpel

Why the adviser’s voice recorder is the surgeon’s scalpel

Interested in fast-tracking your team's understanding of client value by at least 50% in just a month? I'm serious. I appreciate your business training and development is already a priority, but is it focused on the 'heart' of your advice skills? If you are not...

What the Hayne Banking Royal Commission can Learn from Good Schools…

What the Hayne Banking Royal Commission can Learn from Good Schools…

Kids go back to school this week. For us, after 24 years of secondary schools, we're down to the last two - time flies. Our youngest seems OK going back, particularly to catch up with mates. There are also particular teachers and coaches whose classes and teams he’s...

ANOTHER CRACK IN LONG-STANDING ADVICE WALLS?

ANOTHER CRACK IN LONG-STANDING ADVICE WALLS?

Did you see this piece just before Christmas? Fin Services minister Kelly O'Dwyer putting forward legislation no less to empower ASIC with product intervention powers and the ability to now ban aspects of long-standing remuneration practices where there's a direct...

The confusing financial advice marketplace…

The confusing financial advice marketplace…

Have you tried to understand the financial advice market? If so, you’ll know it’s confusing. For instance, the ANZ bank announced last week it is selling its financial advice division for $975m to another financial services firm called IOOF. Eight years ago, the ANZ...

WHY AREN’T ADVISERS PLANNING

WHY AREN’T ADVISERS PLANNING

Does this amaze you, or what? Rob Bertino highlighted the issue earlier this week in the Fin Review (it’s behind a firewall, but you’ll get the drift). His findings are that only 12% of financial advisers are commiting succession plans to paper. Does that make sense...

Why should valuable advice be paid for up-front?

Why should valuable advice be paid for up-front?

“Too many people today are paying for financial advice like they pay for a meal at a restaurant,” says Terry Powell a Principal of PF Private Wealth and a Certainty Adviser based in Geelong, Victoria. “You only pay at the end of the meal, regardless of the...

Good advice? Just wait a while…

Good advice? Just wait a while…

For Jeff Thurecht and Mia Taylor, Certainty Advisers with Evalesco in Sydney’s CBD, it takes a little time for people to recognise what genuinely valuable advice is. That’s OK for them. They understand quality advice relationships aren’t created overnight. An...

ETHICAL V INDEPENDENT FINANCIAL ADVICE

ETHICAL V INDEPENDENT FINANCIAL ADVICE

Are you noticing more and more discussion about being an ‘independent’ adviser? Specifically the section 923a of Corporation Law definition of independent. Hats off to those advisers committed to the s923a road – it certainly is one far less travelled. The pursuit of...

WHEN FINANCIAL INSTITUTIONS OFFER ADVICE…

WHEN FINANCIAL INSTITUTIONS OFFER ADVICE…

World-class financial institutions? AMP is currently revamping its financial advice business. As part of its long-term growth plans, CEO Craig Mellor stated that he intends to make his company more customer-oriented. AMP recently established an alliance with United...

The ‘cultural cringe’ of financial advice meetings

The ‘cultural cringe’ of financial advice meetings

While money is the most pressing problem to all our clients, it’s surprising how few Australians are engaged in the financial advice industry. How can the same industry devoted to helping people make sound decisions around money turn everyone off so much? I believe...

Get a compliance degree – or get out?

Get a compliance degree – or get out?

Treasurer Scott Morrison’s recent Recommendation 25 seeks to advance the need for advisers to have a relevant tertiary degree. While advancing yourself through study is never a bad thing, I want to ask if compliance degrees are absolutely the best way to advance the...

No prizes for second place when it’s all about the revenue split

No prizes for second place when it’s all about the revenue split

Tell me if this ‘mutually beneficial relationship’ sounds familiar: You have a new relationship with an accounting firm with great prospects. With five partners, a good name, and a similar culture to yours, there’s no reason why you shouldn’t provide wealth advice to...

Too much, too soon? When success becomes a curse

Too much, too soon? When success becomes a curse

There’s good success and bad success but all success comes with strings attached. For financial advisers, the biggest challenge with success is increased activity. Not only does success draw in new clients but existing client work typically also increases. The result...

Is Robo-advice advice?

Is Robo-advice advice?

If you can learn how to drive a car, you can learn to manage your own money. That claim was recently made by the chief executive of a new fintech startup – BigFuture Pty Limited. The cloud-based wealth management service is on a mission to “democratise wealth...

Is this a new generation of advice appearing?

Is this a new generation of advice appearing?

I reckon financial advice industry is entering a new phase of professionalism and opportunity, only everyone doesn’t seem that excited about it. As with any change there are many advice licensees and practices that refuse to embrace anything new  and evolve. No matter...

How to Start Great Advice Conversations

How to Start Great Advice Conversations

Great financial advice isn’t about the money – it’s about something much more meaningful. Great advice is about taking clients to places they haven’t been. Great advice is about helping clients manage their un-manageable things. Unfortunately though, when it comes to...

What do you do for me? – Those First Crucial Five Minutes…partIV

What do you do for me? – Those First Crucial Five Minutes…partIV

What’s your role? What do you do? How do you best describe your role when positioning what you do with clients,  potential new prospects, or alliance partners? I’m especially interested to understand what you say in those first vital minutes of a meeting when you are...

Those Crucial First Five Minutes – Don’t Assume…

Those Crucial First Five Minutes – Don’t Assume…

In Part 1 of this series about the first five minutes of client meetings, I discussed the importance of “setting the context of the meeting” to effectively take control  of important client engagement and progress meetings. The focus of Part 2 and second crucial...

Engaging Advice Clients – The First Five Minutes – Part 1

Engaging Advice Clients – The First Five Minutes – Part 1

What do you reckon? Are those first five minutes of the advice conversation between adviser and client crucial? Or is that the time for good old-fashioned rapport building? In the past ‘advisers’ (or ‘product distributors’ or ‘salespeople’) focused those first five...

What does success look like?

What does success look like?

When people hear the ‘certainty proposition‘ for the first time, no matter how much they might like the sound of it, they understandably ask how will they be able to determine the value or success of this approach? Prior the delivery of a ‘certainty’ proposition, the...

Focusing on high net worth clients? Really?

Focusing on high net worth clients? Really?

Is your advice firm striving to crack the ‘High Net Worth’ market – i.e. rich people? It’s not getting a bit ‘old-fashioned’ for advice firms is it? I suppose if you use other people’s money to make your money, the high net worth client is a logical focus. Similar to...

Trying to explain best interest (and governance)…

Trying to explain best interest (and governance)…

Spoke to a financial advisory firm last week who were very excited about their very own investment platform which they now intend to offer to their advice clients. The ownership of the platform is a couple of the original owners of the financial planning firm....

Advice is not a product – Part III

Advice is not a product – Part III

Homes aren’t products. Most Australians wouldn’t pay strangers to squat in the rooms of their homes. Why do Australians accept the fees from the many faceless manufacturers, platform providers, planners, fund managers who crawl all over their superannuation? Because...

Advice isn’t a product – Part 2

Advice isn’t a product – Part 2

Advice isn’t a product. Advice is far richer, deeper and more valuable. At the heart of good financial advice is a on-going conversation that ignites life’s possibilities and helps realise their attainment. Despite the banks alluring advertising, the value in the...

Advice isn’t a product.

Advice isn’t a product.

Do Woolworths sell advice? Do Coles sell advice? Do banks sell advice? None of these groups sell advice. They all sell products. Unfortunately when it comes to financial advice, Australia’s consumers don’t know the difference between financial advice and financial...

Do your clients deserve the best you can deliver?

Do your clients deserve the best you can deliver?

Do your clients deserve the best you can offer? Remember your first clients? Remember how hard you worked to really excel and hopefully earn their trust and future work? Back then you knew shoddy or late work would not provide the opportunities to get off the...

Why Do Advice Clients Buy – Part 2

Why Do Advice Clients Buy – Part 2

Do clients buy for the returns you offer or the certainty you provide? Time for a re-think? Is it time for a re-think as to why advice clients will buy from you? Consider the following: the Grattan Institute recently suggested that Australians are paying way too much...

Why Do Advice Clients Buy? – Part 1

Why Do Advice Clients Buy? – Part 1

Why do your advice clients engage? For greater returns or greater certainty? I was reminded of this question looking at Google’s headlines last week with their ‘driver-less’ car? Did you see them? Google are making big promises about “changing our world” – what do you...

What I learnt about financial advice from a milk ad…

What I learnt about financial advice from a milk ad…

You know that milk ad where the guy walks into his corner store asks the lady for milk? She blandly spiels out the multiple varieties of different milk. Having asked a simple question, the guy gets confused now not knowing which one is right for him. He just wants...

Tell me why your firm is shifting away from asset-based fees?

Tell me why your firm is shifting away from asset-based fees?

It was a simple question and I knew I didn’t do it justice when it was asked. In fact, I didn’t realise it’s significant until afterwards. I blurted out a quick response which didn’t properly answer it. I’ve thought about it since. In fact, I’ve thought a lot about...

Bankers banking on their banking future…

Bankers banking on their banking future…

Brad Cooper – chief executive of Australia’s BT Financial Group (a division of Westpac Bank) provided insightful observations in the Australian Financial Review last week regarding shifts in the UK financial advice market and potential implications for our market here...

Ready?

Ready?

Ready? Are we ever ready for new things? In retrospect, don’t all of our attempts at new things suck initially? Were you ready for your first child? Were you ready for  your first ever client? Were you ready for your first ever employee? Were you ready for the...

Advice professionals don’t take commissions

Advice professionals don’t take commissions

Advice professionals don’t take commissions. The latest twist in the Future of Financial Advice exposes even more what the real debate is about – trust. Not reducing red tape. ASIC reckoned a couple of years ago only 18% of Australians sought out an adviser. Last year...

How will everyday Australians afford quality financial advice?

How will everyday Australians afford quality financial advice?

Remember when coffee was instant? Remember those cafe bars which boasted only 5 cents a cup? Now Australian’s are paying at least $3.25 a cup. Could you imagine convincing the cafe bar coffee addict of yesteryear they’ll be paying at least 65 times the price in years...

What comes first – prospecting or value?

What comes first – prospecting or value?

Got a call last week from an old client for whom we did benchmarking work fifteen years ago. His son joined him in business about five years ago. Sensibly at that time, they made the hard decisions required to setup a sustainable foundation for their future making the...

Is your pricing strangling your business dreams…

Is your pricing strangling your business dreams…

Finding it hard to get to those important but non-urgent projects? Happy with activity, but still hoping it will soon reflect on your bottom-line? Feeling lost as to how others seem to find time that you can’t? Blaming your software, systems, procedures or people for...

Having better advice conversations…

Having better advice conversations…

Assuming your advice clients are engaging for the long-term rather than short-term (and therefore you aim to earn on-going fees every year, not just the first year), then a re-think on the ‘depth’ of engagement between your firm and its advice clients might be...

Needed! Great financial advice leadership, less financial advice sales…

Needed! Great financial advice leadership, less financial advice sales…

Life Insurance has to be sold mate! I have heard the above line often from financial planners and life agents claiming that without ‘sales tactics’  and ‘insurance commissions’ a lot of Australians would be in fair worse position than they are today if they hadn’t...

Financial Project Managers tend to price ‘the lot’

Financial Project Managers tend to price ‘the lot’

I ended my last post by asking you whether, if your role was not so much that of a ‘financial planner’ as a ‘financial project manager’ for your advice clients, you would still price just for your ‘bit’ of advice. One thing is becoming clearer to me. There are an...

Two approaches to pricing

Two approaches to pricing

In my last post, I posed the question whether you price the whole job for your clients, or only your part of it. I’ve found there are generally two approaches to pricing jobs where our advice is interwoven with ‘other financial aspects’ in our clients’ lives. The...

How do you price your advice?

How do you price your advice?

When delivering your advice, do you price the whole job?  (Or just your piece of advice?) There are a number of reactions to this question. A common response is something like: “No. It’s irresponsible and, in fact, stupid to put yourself and your firm in a position...

Limited by your own advice beliefs – Part 2

Limited by your own advice beliefs – Part 2

In my last post (Part 1), I shared my memory of a conversation that took place at one of my recent one-day workshops in Brisbane, between Lance Cheung of the ‘tiny giant’ firm Parinity, and a number of older, more experienced advisers.  The conversation launched when...

Limited by your own advice beliefs – Part 1

Limited by your own advice beliefs – Part 1

I was running one of my one-day advice workshops the other day in Brisbane. We were talking about the calculation and pitching of advice fees in second and subsequent years when one of the attendees, an ex-ANZ Private Banker, made a comment along the lines of...

Are your fees linked to the reasons clients will pay them?

Are your fees linked to the reasons clients will pay them?

It didn’t go as well as I’d hoped. They were seeking advice and direction for their combined financial planning and accounting operation. We didn’t get far, because two of the three partners believed the financial planning proposition was all about investments and the...

Why are clients paying your fees?

Why are clients paying your fees?

Why are clients paying your financial advisory fees? Here’s some real examples taken from last week’s conversations between the advisers we work with and their clients: “I just want to stop worrying as to whether I can afford the basics…” “I just want to get away a...

The overturning of APES230

The overturning of APES230

I ended my last post on the shallowness of slogans with the observation that any serious attempt at reform in the financial advice profession must focus on reforming the profession’s structure and the incentives inherent within it. Which brings me to the extraordinary...

Shallow slogans

Shallow slogans

Clients come first. No arguments. How could anyone argue against such a clear sentiment? How could any professional financial adviser argue to the contrary? Hang on. What if that phrase was just a well practised ‘sound-bite’, used like the phrase ‘how are you going?’...

The bluntest weapon of choice – Price.

The bluntest weapon of choice – Price.

Expect to see a lot more of this type of advertising similar to this recent ad from the AMP giant. Also expect to see some significant ‘creative destruction‘ consequences. Is there anything wrong with ‘specials’ and ‘discounts’ ? Of course not – my wife loves...

Rich conversations:  Uncomfortable and transformative

Rich conversations: Uncomfortable and transformative

What is a ‘rich’ conversation? From my observations of firms that do them well, rich conversations differ from the majority of conversations in a number of ways. And they can be hard in the beginning. All of a sudden asking new (and existing) clients questions like...

The emergence and growth of rich conversations

The emergence and growth of rich conversations

How could you possibly make your advising any better? Has the thought occurred to you that the greatest advancement you might make in your advisory business isn’t a new product, service, platform or dealership? That it might just be how you advise your clients? For...

RG246 – Manna from Heaven or poor regulatory compromise?

RG246 – Manna from Heaven or poor regulatory compromise?

So all potential conflicted remuneration ‘arrangements’ between Australia advisers and their providers entered into prior 1st July 2013 are ‘grandfathered’. Is this a good or bad thing? Dunno. When I first heard yesterday I was disappointed. But, as with most things,...

Real Life Success Story: Referrals

Real Life Success Story: Referrals

Recently, Dieter Tode of Wealth Plus Solutions has been getting an impressive number of referrals coming through. So we quizzed him about his approach. When asked what he thought was the most important thing he’d done in the process of seeking referrals, Dieter said...

Is Financial Services focusing on the right issues?

Is Financial Services focusing on the right issues?

What are we meant to do? I mean in our role as financial services professionals, what is our immediate focus when in front of our clients? Help the ambitious business owner get another extension to their overdraft , or help them restrain their financial ambitions and...

Professionalism Serves the Greater Good

Professionalism Serves the Greater Good

To my mind, professionalism was best defined by Robert MC Brown – a unique champion of APES230, amongst other causes. Robert has said on many occasions that professionalism is acting in a manner that firstly respects the greater good of the general public, then the...

Professionalism in the context of Advice Propositions

Professionalism in the context of Advice Propositions

Now let’s refer to the Advice Proposition Grid that we use with the financial advisory firms that use our business consulting. Simplistically, the Advice Proposition Grid attempts to define four broad advice propositions. Importantly it is expected that professionals...

Professionalism: Does the financial advice industry need it defined?

Professionalism: Does the financial advice industry need it defined?

Does getting clear definitions of Professionalism for financial services really matter? If your doctor’s practice received financial support from the drug companies she recommended, would you view that as professional? If you knew your accountant’s business would be...

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