Under pressure Every so often the industry conversation returns to the threat of margin compression; fancy language for the fact that maybe you won’t be able to charge so much in the future. For Financial Planning businesses, the 1% p.a. fee model has been the bedrock. What if that comes under pressure? I’ll be honest, I’m torn on this issue. There’s lots of talk about margin compression, but I’m not yet seeing it. It’s still industry chatter, not consumer driven. However, I can see … [Read more...] about Financial Times They are A-Changin’: Rise of the Robos
We’ve reached the end of 2018 and you definitely deserve a break after the hard work you’ve put into your business this year. Here at FP Advance we’ve hit on some major topics to inspire, challenge and support you in growing your business this year. These three really got people talking, so we thought we’d share them again in case you missed them first time round. Have a relaxing Christmas break and here’s to great things in 2019. Are You Outrageously Expensive or Too … [Read more...] about Setting Your Fees, The Truth about Hard Work, and How to Beat Big Business: Our 3 Most Popular 2018 Articles
Winding down As we head into the last weeks of the year it’s time to slow down and refresh your hard-working brain. Here are a collection of great must-read business articles we shared on FP Advance social media this November, to give you a new perspective and start you thinking about next year. Great words about leadership and business from some great thinkers. Well worth a read. A human touch in a digital world Ryan W. Neal Pure Robo advice hasn't quite become the threat some … [Read more...] about Working Alongside Robo-Advisers and 4 more must-reads for your business
Seeing the future There’s a lot of industry talk about the future of advice, and some of it is quite confronting. What will clients want from their adviser in the next decade? Will it be materially different from what they wanted in the last decade? Unfortunately, a lot of the information I see on this topic is sensationalist; trying to grab your attention. I’ll try not to fall into that trap myself as I give you a few thoughts on what’s happening, and how it might impact your decision … [Read more...] about Are You Ready for the Future of Financial Planning?
Out of service How many businesses do you interact with where the service is total rubbish? If you’re like me, then the answer is “far too many”. Let me give you some examples: My big local hardware chain store, selling hardware supplies for the garden and outdoors, is appalling. There’s hardly any staff, and those I’ve spoken to are unenthusiastic and know very little about the ten million products that they stock. I don’t blame the individual staff for this, by the way; a fish always … [Read more...] about Is Financial Planning Facing an ‘Amazon Moment’?