Digital technology has changed the way planners give financial advice, but how can advisers continue to provide a service when investors increasingly take a more hands-on approach to their financial future?
Defining good financial advice can be difficult. Too often, clients believe that a good return on their investment relates to good advice, and too often financial planners perpetuate this myth.
Robo-advice is becoming more popular as a standardised alternative to traditional financial advice, but how can planners add value in the face of “digital disruption”?
The world of financial services is changing, and so is the market for financial planners. How can advisers keep up with this change and capture new opportunities?
When not approached responsibly, investing can be like gambling – luck of the draw. With the help of a good financial adviser however, investing can be more like an exact science with a high chance of success.
Have you done anything this week within your business (or at home) to improve a task that you work on every day or every week? Is there something about that task that allows you to complete it in less time? Could you spend an extra five minutes working on it to create an outcome that is more valuable than what you currently produce?
Estate Planning is, in many cases, treated by financial planners as an afterthought. But the glaring fact is that 45% of Australians not have a valid Will – this should be seen as an opportunity for Financial Planners to engage on this with their clients and do more.
Knowing the future value of your business starts with knowing more about your existing clients and future ones than you think.
You might think you know what your “ideal” client looks like but chances are that this has changed in recent years and you might be missing out on golden opportunities.
I was just listening to the Neil Diamond song, Forever in Blue Jeans. Money talks. It talks in volumes when it comes to allowing you a life of choice. However for many people (not everyone), it’s not the money itself that really matters. It’s the psychological and emotional freedom it provides to enable people live life the way they choose, that makes them happy.
Only three per cent of planners provide “good” advice. This is a startling statement but one independently backed by the ASIC Shadow Shopping Study report released in March 2012.
No More Practice Education Pty Ltd
Level 1, 10 Shelley Street, Sydney NSW 2000
