by Jim Stackpool | Jul 14, 2022 | Advice Clients, Advice is not a Product, Advice Products, Best Interests, Brand Development, Certainty Advice, client conversations, Complexity, Consistent, Consultative Approach, Delivering Value, Engagements, Financial Complexity, Financial Governance, future of advice, Greater Good, Hayne Royal Commission, Impact, Leadership, Professionalism, Serve the Greater Good, valuable advice, Value Proposition
I used to coach a guy I call Adviser Tony. Nice guy, experienced, founder of a successful advisory firm and well-respected in the advice industry. Tony once told me that when his clients ever squabbled about how they wanted to spend their retirement monies, he...
by Jim Stackpool | Jun 9, 2022 | Advice is not a Product, ASIC, Complexity, Financial Complexity, future of advice, Future of Financial Advice, Mindsets, Quality Advice, Separation of advice from product, Serve the Greater Good, valuable advice, value, Value of Advice, Value Proposition
Dear Minister Jones, Congratulations on your appointment as Minister for financial services. I read your early plans with both hope and trepidation about your priority to address the hot mess that is the Australian advice marketplace. I understand the weight behind...
by Jim Stackpool | Mar 23, 2022 | Advice Clients, Advice is not a Product, Client Offerings, Conflict of Interest, Financial Complexity, Greater Good, Public Good, Separation of advice from product, Serve the Greater Good, valuable advice, Value of Advice, Value Proposition
William Francis Sutton was an American bank robber. When asked why he robbed banks, he allegedly responded: “…because that’s where the money is.” Medicine has used “Sutton’s Law” when training students as a metaphor to...
by Jim Stackpool | Mar 3, 2021 | Advice Clients, Best Interests, Client Care, Client Offerings, Consultative Approach, Financial Complexity, Ongoing Relationships, value, Value Proposition
Marketers love a good slogan. Goals-based financial advice is a good example. Advisory firms sometimes differentiate themselves on their goals-based advice capability to understand and identify their advice client’s aspirations. Some institutional advisory...
by Jim Stackpool | Apr 5, 2018 | Consultative Approach, Financial Complexity, Financial Stress, Hayne Royal Commission
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...
by Jim Stackpool | Oct 13, 2014 | Conflict of Interest, Financial Complexity, Future of Financial Advice, Leadership
On Wednesday night a couple of weeks ago the latest round in the Future of Financial Advice (FoFA) saga limped through parliament heading for who knows where. Due successful lobbying by financial institutions, plus noise from incumbent industry associations and funds,...
