Last month’s topic was “How a Financial Planner adds value to a Portfolio?”, a major component being Behavioural coaching. The month before the topic was “The Value a Planner Adds to a Portfolio”. This month the focus is on “What is Behavioural Coaching?”. There are many long-term investment charts that show how portfolio values increase over time but even with this proof many investors react to short term market volatility which can often undermine attainment of long-term objectives. Managing this reactionary behaviour [...]
An article based on a 16 year study by Vanguard Investments Pty Ltd. Last month I reported on a 16-year study by Vanguard Investments that found a financial adviser effectively adds around 3% to the value of a client’s portfolio over time. The real significance of this is that you can have a finance professional take care of one of the most important jobs in your life (funding your retirement) for very little, if any, real cost. This can even be [...]
Financial planning has seen significant growth over the past two decades because, as a rule, it works. Unfortunately, there are exceptions that have left the public's perception of the industry in very poor shape. Even trust, the most powerful tool a planner has is diminishing. Given the following research I can't understand why the industry isn't pushing back with all its might. --------------------- A 16 year study by Vanguard (latest report from July 2018) has found that this figure is about 3% net added to a portfolios return. This is [...]
Websites can look fantastic and there is no shortage of suppliers of websites, portals, data analysis, one-off experts for SEO and social media. There is also no shortage of enthusiasm within practices. So why is it that few practices are happy with the results generated by their digital resources? Of recent times, we’ve asked our clients why this is still the case and we have arrived at some conclusions. We explain the problem and offer a solution. Digital resources consist of [...]
Referral partners are the second biggest source of new business for accountants. However, these groups lack the professional development and coordination to maximise returns. We can help. PlannerWeb works with groups of referral partners to develop the revenue potential of their client bases. Often referral partners include financial planning practices, accounting practices, law firms, mortgage brokers and insurance brokers. Plannerweb coordinates a group's marketing to maximise returns and professionally manages referrals to ensure there is oversight and follow-up. The overall aim [...]
This client (who has some 15 staff across two offices) employs PlannerWeb’s premium digital marketing service. They have tried for many years, using newsletters in the main, to supply more to their clients and to enhance communications and client experience. The results have been poor and they feel readership, and therefore value, has dropped to almost nothing. They have also tried a number of other strategies such as sales training, social media and SEO but none have delivered. They now [...]
After years of comparing how practices use newsletters and articles to help develop the potential in their client base the results are more than interesting. Time and again newsletters do no more than transfer information to clients but in recent years clients have changed quite a lot. Newsletters may have been OK when they were printed and sent but that ‘habit’ has severely hampered the use and benefits of new technologies. Newsletters make the practice feel happy because they’ve done [...]
A new study has found that while a majority of Australians feel unprepared for retirement .....
An industry lawyer has urged SMSF practitioners to carefully scrutinise any life insurance arrangements .....