Education is a wonderful thing. Many of us strive to attain higher education to improve ourselves, raise our prospects in life, help others or pursue an important cause.
If you’re looking for truly unvarnished opinions on life’s issues go and visit an internet forum.
Recently I visited the financial section of one of Australia’s largest web forums. In the aftermath of the most recent scandal to rock the financial services industry it made for sobering reading. Again the industry was suffering a broad brush beating. Some truthful media reports about one section of the industry were fuelling some big misconceptions about the whole industry.
As of July 31, the current ASX bull market had been running for 784 days. Volatility had almost subsided and that twitch most people developed during the GFC had finally disappeared. Consistent good market returns had made some people excited. Other people started becoming extremely nervous.
Can you simply articulate your process for clients, from the here and now to their ideal future? Have you found a way to engage with potential clients even when they’ve exited that first meeting?
I don’t have to tell you costs are a big factor when running a financial planning business. I’d argue it’s why over 80 per cent of the industry are now shadowed under the wing of a bank or institution. Economies of scale are a great help in driving costs down, but if you’re focussed on your client you want to ensure it’s the client who is the primary beneficiary of cost efficiencies and no one else!
The advent of FOFA now provides a public reference point to use when explaining to clients (and potential clients) how you’re one of the few who actually want to put their interests first and act as a true fiduciary.
Being prepared at review time can mean happier, better engaged clients, writes FYG Planners’, CEO, Peter Mancell.
When it comes to money, people can be tough beasts to educate. Often there are two groups who have a particularly hard time with money – the gullible and the sceptical, writes Peter Mancell, Managing Director, FYG Planners
With a little hard work up front, you can transform your financial planning software into a tailored experience for you and your clients – improving business efficiencies and keeping you ahead of your peers, writes FYG Planners’ Peter Mancell.
An environment that encourages advisers to share their skill sets and knowledge base ultimately removes internal competition and eliminates the “BS hierarchy” often associated with advice businesses, writes FYG Planners Managing Director Peter Mancell.
No More Practice Education Pty Ltd
Level 1, 10 Shelley Street, Sydney NSW 2000
