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Two for the Price of One show synopsis
"After only three months into “Cultivating Advice™” we had already recovered the return on our investment in the program, and it's only got better since then.” - Errol Woodbury, Woodbury Financial Services
Interested in Learning from the Masters? show synopsis
As part of our commitment to world-class skilling in fundamentals of advice we are taking a small group of our clients across to Bill Bachrach’s Academy 1 four-day program in San Diego between July 10th and 13th.
Are SME Owners Your Target? show synopsis
Are SME owners one of your current or prospective niches? Do you want to significantly accelerate your firms success and penetration in these niches?
Edition 49: View edition
In search of the Holy Grail… ”high quality clients” show synopsis
Many of you would agree that high quality clients are seen as the holy grail for financial planning firms, especially those aspiring to be as successful and profitable as possible.
Turbo-Charging Your Growth... show synopsis
"The “Cultivating Advice™” program has turbo-charged our business’ positioning in key niche markets. As a result we’re now targeting a four fold improvement in business income”
Research Paper: "The Wealth Management Edge" show synopsis
The term “Wealth Management” is omnipresent in today’s financial services industry. It has become a truism that wealth managers generate greater success than do other types of advisors and that advisors therefore should move toward the wealth management model. To this point, however, it has been unclear whether the industry has genuinely embraced true wealth management.
Edition 48: August 2007 View edition
Getting in Touch show synopsis
When it comes to contact with your clients how much is enough? Research has proved repeatedly that clients are looking for more than investment expertise from their financial advisers. They want an adviser who knows what they really want out of life, understands their worries and is even there to do some handholding.
Accelerate Your Success: Cultivating Advice Shows You How... show synopsis
Our upcoming program of Cultivating Advice is open for bookings. There are five reasons why you should see if you qualify for one of the remaining spots in our exclusive program....
Edition 47: May 2007 View edition
Can too much of a good thing ever be a bad thing? show synopsis
The recent super changes have created a boon for financial planners – every advisory business we talk to is extremely busy at the moment with clients taking advantage of the opportunities provided by the rule changes, as well as the usual end of financial year rush. Add to this the resources boom, the booming Australian economy, the entrance of private equity players and you can see why now is truly the best of times to grow and develop a financial advisory business.
Accelerate Your Success: Cultivating Advice Shows You How... show synopsis
Our upcoming program of Cultivating Advice is almost here. There are five reasons why you should see if you qualify for one of the remaining spots in our exclusive coaching program:
Edition 46: View edition
Tactics for surviving the financial planning drought show synopsis
Mention to anyone in the industry that you’re trying to recruit an experienced planner for your practice, and they’ll tell you you’re not Robinson Crusoe. Planner recruitment is one of the big issues currently facing our industry. It’s tough out there, and will probably only get tougher if our industry grows at the predicted 10% plus rate this year.
Edition 45: View edition
Time out from the “Silly Season” show synopsis
Christmas is approaching far too fast, but before we all get too deeply immersed in the silly season it’s worth spending some time reviewing the highs and lows of the year for your business.
Christmas Quiz – win a free Dashboard report worth $4950 show synopsis
All of us at SCAT would like to thank you for your support during 2006 and to wish you a festive holiday season and a new year abounding with health, happiness and prosperity. As Christmas is a time of giving, we’d like to give something back to one of our lucky subscribers.
Edition 44: View edition
In Search of the Holy Grail ... ... "high quality clients" show synopsis
Many of you would agree that high quality clients are seen as the Holy Grail for financial planning firms, especially those aspiring to be as successful and profitable as possible.
Edition 43: View edition
Is Your Team Structured for Success? show synopsis
Recent Dashboard research shows that profitability is linked to staff ratios and structure. In a nutshell, as you hire more staff and structure the team effectively, profitability improves.
Edition 42: View edition
Build a World Class Business for the Quality Private Client... show synopsis
A world class advisory business will provide you with a great income, make your professional life easier and make your clients customers for life. How can you achieve all of this? Provide a 21st century service experience for the quality private client.
Edition 41: View edition
Take a Break and Boost Your Profits show synopsis
It’s official – working less and exercising more can actually be better for your bottom line, and not just the one below your waist!
Edition 40: View edition
Are you a financial administrator or a financial planner? show synopsis
Do you spend most of your time advising and talking to clients and referrals or on investment and administration activities? Of course you’ll all say (indignantly!) that you are focused on client activities, however our Dashboard research suggests otherwise.
Edition 39: View edition
Dashboard Mythbusters show synopsis
The financial services industry is full off myths - catchy phrases rolled out with the best of intentions by experts to improve our practice management, but when it comes to the myths surrounding how to run successful financial planning businesses, we’ve found that a lot of the common ones are more like old wives' tales.
Edition 38: View edition
Do your business New Year resolutions make our top ten list? show synopsis
Welcome to 2006! The start of any new year is traditionally a time for reflection and more importantly for looking ahead. It's a time to consider the changes we want (or need) to make in both our personal and business lives and resolve to follow through on those changes. But, why is it that New Year resolutions often fall by the wayside?
Edition 37: December 2005 View edition
How well your business is structured to deliver on your client value proposition... show synopsis
This article is the 5th and final in a series discussing the key value drivers of successful financial planning businesses. The focus of this article is how well your business is structured to deliver on your client value proposition.
Edition 36: View edition
Measuring Client Value ... show synopsis
This article is the 4th in a series discussing the four key value drivers of successful financial planning businesses. The focus of this article is how we determine the quality and strength of your client proposition...
Edition 35: View edition
Profit - The Value Driver of a Successful Financial Planning Business... show synopsis
Following on from our last edition of Dashboard Notes, in this edition we take an in depth look at the 2nd of the four value drivers of a successful financial planning business, namely profit...
Edition 34: View edition
Focusing on the Value of Income show synopsis
In our previous edition of Dashboard Notes, we discussed valuing financial planning businesses and introduced the four main drivers we believe are important when it comes to assessing value – Income, Profit, Clients and Structure. Our view is that any valuation must incorporate an assessment of all of these factors, as opposed to the current industry approach based on either multiples of recurrent income or buyer of last resort (BOLR) provisions...
Edition 33: July 2005 View edition
The value in correctly valuing financial planning businesses show synopsis
The issue of how much a financial planning business is worth is one that many in our industry are obviously very interested in, either from the business owner’s perspective or from the licensee’s/owner institution’s perspective.
Edition 32: View edition
Making Client Segmentation Really Work ... show synopsis
We’ve all heard of client segmentation, but articulating exactly what it means in a financial planning context is not so easy. However those advisers that are able to articulate and implement client segmentation within their business understand how important it is in adding significant value to their bottom line...
Edition 31: View edition
How can you triple your profits - a case study show synopsis
A few months ago in Dashboard Notes we gave you some pointers on how to make more profits for your business during 2005, based on our analysis of the most profitable firms in our Dashboard database...
Edition 30: View edition
Should Financial Advisers be paid less when stockmarkets fall? show synopsis
Share markets have enjoyed a strong period of growth over recent years, particularly within Australia. This has been excellent news for many investors who have seen high returns for their portfolios – some even as high as 30% or more. It has also been good news for Financial Advisers who have seen their incomes increase by as much as 40% during that period. Perhaps this is a coincidence, perhaps not...
Cultivate the Quality Private Client and Transform Your Practice show synopsis
Achieving substantial success as an adviser requires sharp focus and informed, systematic processes. Accordingly, Cultivating Advice - CEG Australia's exclusive coaching program - helps advisers address and enhance every part of their business in order to successfully work with the wealthy...
Edition 29: View edition
Build a World Class Business for the Quality Private Client... show synopsis
A world class advisory business will provide you with a great income, make your professional life easier and make your clients customers for life. How can you achieve all of this? Provide a 21st century service experience for the quality private client.
Edition 28: View edition
Focusing on the Niche... show synopsis
Profits still seem to be getting made from a focus on the retiree marketplace rather than a wealth accumulator marketplace. However, we are seeing new business models emerging from advisory practices that are specialising in the wealth accumulator marketplace that might challenge the current paradigm that is focussing where the retirement money is...
Edition 27: View edition
The Key to Client Contact... show synopsis
The ability of advisers to be in front of their clients – CONTACT – and to communicate with them on issues that the client finds important – CONTENT – is critical to the success of client-focussed advisory firms...
Strategic Consulting and Training Present the Asset Innovation Awards... show synopsis
Strategic Consulting and Training is proud to announce the inaugural Asset Innovation Awards. For the past four years we have worked closely with Asset and we are excited to be involved with this initiative...
Edition 26: View edition
Profits are made from active clients not inactive clients… show synopsis
As industries evolve, old paradigms are discarded. Still today, there are financial advisers who believe that large client bases are a good thing, particularly if their firm is attached to large dealer groups who offer old-fashioned buyer of last resort adviser retention strategies. However, recent Dashboard research confirms new trends that large client bases tend to reduce a firm’s profitability...
Edition 25: August 2004 View edition
The Quickest Steps to Improved Profitability... show synopsis
According to recent Dashboard research, Ralph Waldo Emerson had it about right when he was quoted as saying “...our chief want in life is finding someone who can make us do what we can do”. From Dashboard research we have found that those business owners who have implemented a form of external board of advice, external coach or respected business relationship with an external business development manager, have enjoyed significant growth in the most important business measure – their bottom line!
Edition 24: View edition
Sales & Marketing Paradigms for the Advice business… show synopsis
We believe there are eight key paradigms that define ‘best practice’ in the development of a sustainable, scalable, and profitable advice-based financial advisory business. The first of these is the focus on quality clients…
Edition 23: View edition
“How many clients can an adviser profitably service?” ... show synopsis
There are probably as many opinions regarding the above question as there are advisers. Most advisers miss the point of the question, because they are advisers first and business people second.
Edition 22: May 2004 View edition
Do this Quick Quiz… show synopsis
We constantly use subconscious quick measures in life to determine our actions. The bathroom scales, our car’s fuel gauge, the all ordinaries index, our heartbeat rates, the morning weather report’s temperature forecast and lots of others all serve to help us make quick decisions. What measures can principals of advisory businesses quickly use to determine their actions? Try this Quick Quiz…
Edition 21: View edition
“What are Your Best Profit Drivers?” show synopsis
Research completed in March suggests that traditional drivers of profit such as cost control, client segmentation models, and planning/advice activity are not the predominant drivers of profitable firms. In the ‘olden’ days, advisers believed profitability was achieved with large client bases, or high activity businesses or keeping costs low. Today, smarter financial planning firms are achieving nearly twice the profitability of average firms by different means. How are they doing it?
Edition 20: March 2004 View edition
Clogging up our back offices – Inactive Clients show synopsis
Dashboard research suggests the industry is still quantity rather than quality focussed. Averages of 900 total clients per adviser but only 203 active clients per adviser raises a significant question – Are we running our businesses as business people or are we running our businesses as advisers? Putting aside the question of taking trails from inactive clients, why is the industry still holding onto significant numbers of inactive clients?