For most of your financial planning career you’ve fought hard to ‘bundle’ your advice to clients. What does ‘bundled advice’ mean? It means the client gets everything included for one fee; in this case the ongoing 1% of assets under management, or flat fee that you charge (whichever version you prefer). I realise that initial advice is usually offered as a stand alone fee-based option, albeit with the belief that a very large percentage of people who take your initial advice … [Read more...] about The (not so new) trend
Forward Thinking
Forget About Goals, Rise of the Robos and Why We Hate to Plan: Our 3 Most Popular 2019 Articles
To round off 2019, I take a look at the most popular blogs that have resonated most with the readers over the course of the year. They hit some major topics like effective planning, changing financial times and building systems that will make your business great. If you missed them the first time around, here they are for you to catch up on. I hope you enjoy them. Here's to a great Christmas and a wonderful New Year. Forget About Goals, Work on Systems Goal setting gets … [Read more...] about Forget About Goals, Rise of the Robos and Why We Hate to Plan: Our 3 Most Popular 2019 Articles
Cyborgs, Subscriptions and Other Observations From 2019
2019 is almost over. What the hell happened? Here are my top 5 themes from the year just gone: 1. Hiring Was Tough I’ve never known a labour market so tight in my whole career (29 years). It didn’t matter who I spoke to, where they were located, or what position they were hiring for, it was incredibly tough to find suitable candidates. If that was your experience too, don’t stress; you were not alone. If that wasn’t your experience and you snagged someone amazing for … [Read more...] about Cyborgs, Subscriptions and Other Observations From 2019
Should you be working harder? (Not in my opinion)
There’s good stress and there’s bad stress. Bad stress? Relationship problemsFinancial worriesWorking too much Good stress? Challenging work ExerciseLearning to play Hendrix on my guitar And while we know we need a certain level of stress in our lives to feel alive, if we go too hard for too long, stress can build up. James Clear wrote a blog about it: The Theory of Cumulative Stress. Here’s one great point (one of many in fact) he made about his gym … [Read more...] about Should you be working harder? (Not in my opinion)
Financial Planning by numbers
Financial Planning firms that understand their numbers outperform those that don’t. Why? Because they can pinpoint where the issues are and fix them. They spend their time working on the right issues. Let’s Consider Profitability Are you making as much as you could or should? It’s a question every business owner asks themselves periodically. To answer that question you need to know that there are two profitability numbers to focus on; Gross Profit and … [Read more...] about Financial Planning by numbers