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Sep 30, 2024 | 
advisorpedia.com | Sue Viskovic
The VBP Consulting team collectively spend many hours every week working with advisers in the art and science of getting their pricing models right. Part of this process involves understanding the true cost of advice, but this is only one step in the exercise. Cost does not equal value.
An important part of the art in pricing is to look from the client’s perspective to determine what value they will gain from the advice and service provided.
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Jun 30, 2024 | 
ifa.com.au | Sue Viskovic |Keith Ford
For firms seeking to enhance their results in the upcoming financial year, active engagement in strategic planning – and involving the entire team in the process – is essential.
There's never been a better time to run a financial advice firm.
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Aug 4, 2023 | 
advisorpedia.com | Sue Viskovic
Goal setting. You’ve heard all the one liners….
‘If you don’t know where you are going, you’ll end up someplace else’
‘Fail to plan and you plan to fail’
‘A goal is a dream with a deadline’
In my post “The problem with goal setting”, I reveal the single biggest contributor to achieving your goals, and why writing them down just isn’t enough.
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Apr 4, 2023 | 
professionalplanner.com.au | Meredith Booth |Sue Viskovic |Tahn Sharpe |Simon Hoyle
An ideal financial planning client has between $2 million and $8 million to invest, is happy to pay substantial annual fees, takes advice, turns up to annual reviews and is a pleasure to deal with, according to Back Office Hero principal Mark Lewin. These clients should produce an average profit margin each of $7000 based on them paying fees of between $8000 and $35,000 a year and will be likely to happily refer new clients to the firm, he tells Professional Planner.
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Mar 31, 2023 | 
advisorpedia.com | Sue Viskovic
Referrals from trusted sources are the preferred way for most clients to find their financial advisers. However, some advisers struggle to create fruitful referral relationships while others have real success in developing deep, sustainable, and profitable relationships with key referral partners.
In this article, we will discuss the Seven R’s of Successful Referral Relationships to enable advisers to deliberately cultivate active and prosperous relationships with other advice professionals.
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Mar 23, 2023 | 
advisorpedia.com | Sue Viskovic
We all know the upheaval that the financial advice profession in Australia has experienced in recent years, with many advice firms struggling amidst increasingly complex regulatory and legal obligations. Adviser numbers have dipped below 16,000 and it is widely predicted that this number has further to fall in the years ahead. Many who are left are suffering from ‘change fatigue’ and in desperate need of inspiration and the confidence to implement different business strategies.
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Mar 9, 2023 | 
advisorpedia.com | Sue Viskovic
The last few years have been long and hard for many in financial services, with difficult markets, legislative change, squeezing margins and negative publicity creating a perfect storm that for some, has robbed them of their drive and energy.
This is the opening sentence of an article that we published over a decade ago, in RiskInfo magazine in 2012; and the only thing we’d add to that perfect storm today to bring it up to date might be ‘education requirements’.
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Feb 26, 2023 | 
professionalplanner.com.au | David Sharpe |Simon Hoyle |David Bell |Sue Viskovic
It may only be February but the theme for the 2023 is focusing very clearly on making it easier for financial advisers to serve their clients and, critically, for clients to have access to advisers. While there have been no immediate changes introduced yet as a result of the Quality of Advice Review, there has been almost universal acknowledgment that there must be systemic change in order for the system to work – both for consumers and for planners. This can’t just be tinkering at the edges.
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Feb 21, 2023 | 
advisorpedia.com | Sue Viskovic
Resilient advice firms recognise that their staff are not only their biggest cost in the business, they are also their biggest asset, and pose their biggest risk.
Just as your client value proposition (CVP) defines what your clients will pay you for, your employee value proposition (EVP) is what will attract and retain quality people. In the midst of a global skills shortage, applying a conscious focus to invest in your biggest asset and build your EVP is imperative.
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Feb 13, 2023 | 
professionalplanner.com.au | Chris Dastoor |Claudia Pritchitt |Meredith Booth |Sue Viskovic
Scale has become a buzzword for advice practices but for businesses to grow, it must be done off the back of organic growth according to a panel discussion. “Always prioritise organic growth over M&A… [an acquisition] should be the cherry on top,” Macquarie Group head of new business Jamie Melville told the Professional Planner Advice Practitioner Summit. Alteris Financial Group epitomised this philosophy – after building organically it made the decision to pursue M&A.
