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Tahn Sharpe is a Sydney-based financial services journalist with a background in financial planning. He writes on advice, superannuation, investment, banking and insurance issues, is a certified SMSF Adviser and holds an Advanced Diploma of Financial Planning. Contact at [email protected] ....
Marketing in financial advice is an area – like IT infrastructure and HR management – that is fundamental to practice management but not a core skill for advisers. For small practices, especially, a lack of marketing savvy can weaken the chance of growth. Underpinning this issue is the broad thematic of advice value, and the need for advisers to help their market understand what it is they do so well. ....
Managed accounts present a clear value proposition for most advice practices, with the agility of its operations meaning trades can happen across the board and in an instant. So what’s it like for a firm going from wrap platforms to managed account platforms? What are the challenges, dangers and opportunities? Also, what's the product landscape like, how do the big producers like Blackrock put model portfolios together and to what level does consultancy with advisers come into play? ....
Since the advent of the Professional Year for new entrants to advice, practices have struggled to structure effective programs to foster talent. Despite the inherent challenges, some are managing to identify talent and align the education mandate with the job of bringing someone through the system. ....
Client pricing is a crucial element in financial advice, but the methodology used by practice managers is often not as robust as it should be. So what are some of the common mistakes made when structuring a pricing policy, and what can advisers do to ensure the value of their service matches their remuneration? ....