CRM is a bit like a gym membership. You get what you put in. Use it occasionally, and you’ll see some small benefits. Use it correctly and you’ll become a powerhouse.
Robo-advice is coming and financial advisers need to be ready. But what is it and how will it affect the their businesses?
Not all advisers are created equal, nor are their clients. One size does not fit all and I believe it is incredibly arrogant to suggest that it does.
FOFA, the real F-word. I’m not going to sugar coat it. This legislation contains several onerous obligations for advisers that do not seem to be designed to protect consumers. Based on the current business models of most advisers, there will be a lot of additional compliance work to do. It will be expensive and uncomfortable. Okay, I sugar coated it a little.
From my conversations with our advisers, I know that they are very committed to their clients. They think about them and they review their files. They discuss financial strategies with colleagues as they relate to particular clients. They analyse their clients’ portfolios – both investment and risk. Overall, they keep their finger on the pulse.
What’s this all about? Do you know someone who spends more time fiddling with software to try and make it work for them than they do sitting in front of clients? Is this person you?
Centres of influence. Referrals. Below-the-line marketing. ‘Based on all the business cards I got at my last leads breakfast, we’re forecasting 150 per cent growth in the next two months’. Awesome, hey?
Of all the great ideas you never properly implemented in your business, a robust task and workflow system would have to be one of the most important.
No More Practice Education Pty Ltd
Level 1, 10 Shelley Street, Sydney NSW 2000
