80% of the fee for service models within Australian financial planning firms won’t work in three years time. In their quest to get “legislation-ready” for Monday 2nd July 2012, most planning firms are not thinking through their hastily implemented fee for service...
Financial advice is only required when people lack financial certainty. Considering the heap of uncertainty in the financial world at present, I wonder why the advice revenues of financial advisory firms aren’t increasing at a pace like that of revenues generated from...
Implementing a fee for service proposition for your financial planning business without addressing the fundamental issue of adding real value for your clients is akin to getting dressed up as a mighty Sydney Swans player and thinking you’re therefore entitled to play...
When Glen Penno and Scott Donoghue rang us for advice about pricing a job, they were feeling that all the hard work they’d invested in their new advice proposition and new pricing methods might have been a great big waste of time. In just a few short hours, they were...
Earlier this month, we ran a workshop with values-based planning guru Bill Bachrach. 185 advisers from around Australia and New Zealand gave up their Saturday and came along for an intensive skilling day, to understand some of the concepts behind Bill’s value-based...
One of the criteria for taking advice is needing it. If people don’t believe they need advice, they won’t take it, and they definitely won’t pay a premium for it. People will generally seek advice when they face a complex situation in their lives that they want to...