by Jim Stackpool | Sep 12, 2018 | advisers v distributors, Certainty Advice, Consultative Approach, Fee For Service, Future of Financial Advice, Mindsets, Pricing Advice, Royal Commission, Value Proposition
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...
by Jim Stackpool | Sep 18, 2015 | Certainty Advice, Engagements, Leadership, Minimum Pricing, Pricing Advice, Pricing Committees
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...
by Jim Stackpool | May 19, 2014 | Case Studies, Fee For Service, Leadership, Value Proposition
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...
by Jim Stackpool | Feb 3, 2014 | Client Offerings, Fee For Service, Leadership, Pricing Advice, Pricing Committees, Value Proposition
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...
by Jim Stackpool | Apr 17, 2012 | Benchmarks, Business Performance, Pricing Advice
It’s a good question? I got challenged in a workshop the other day from a seasoned and successful owner of a financial planning firm when I cited that, in our experience, BEST PRACTICE profitability target is around 40% (ebit) per advice client per annum. “What rot!”...
