Twenty-one years ago, I conducted a qualitative survey of Australian financial advisers with John J. Bowen Jr and Russ Alan Prince. The objective was to identify the client proposition advisers regarded as crucial to the future of financial advice. Russ’ team had...
There’s good and bad in the Quality of Advice Review (QAR) released by Treasury last week. The good is the proposed framework for the delivery of affordable financial products. For Australians less interested in advice and more focused on making simple purchases, the...
How much do you charge for a Statement of Advice (SOA)? Do you price based on complexity? Do you have a minimum fee regardless of complexity? Do you reimburse the SOA fee when the prospect becomes a client? CRUCIAL There is no question that SOAs are crucial when...
I’m currently working with several firms considering a client base or business purchase. Each has different reasons. One wants to achieve more significant ‘economies of scale’. One wants to fill a gap in the range of expertise. One is on an...
All the best for 2023! Ready? Neither am I. A reflection on the 2013 advice marketplace and three thoughts on what advice might look like in ten years – 2033 – might be helpful for your steps in 2023. Despite the exceptional upheavals over the past decade,...
Advisers thrive because they anticipate, worry, prepare and manage complex client issues. Good advisers are masters at it. Great advisers are masters at doing the same for themselves. There are several hurdles facing advisory firms in 2023 – for advisory teams...
