In The Media RSS

People power (Professional Adviser 21-01-10)

Brett Davidson, chief executive of FP Advance, says getting people planning and ongoing management right will result in a more effective business. view

Ahead of the pack (Adviser Evolution November/December 2009)

Marketing is all about ensuring that your calls, emails and messages get heard above the rest of the noise and a little time and passion spent on this part of your business can make you stand out from the crowd. view

Get rid of the over-engineering (Citywire - New Model Adviser 07-12-09)

Some of the processes advisers use to engage and service clients are unnecessary and they devalue businesses. Keep them simple and keep them effective. view

It’s never too early to start planning for the end (Professional Adviser 03-12-09)

Brett Davidson, chief executive of FP Advance, says exiting a business is inevitable and exit planning should be a key strategic consideration for all business owners. view

The review meeting toolkit (Marketing Hub 02-11-09)

In the last few articles we have looked at how to build a highvalue review service for your clients. In this article I want to offer you some further ideas about the sort of tools you can use to ensure clients are able to appreciate the value of the service. view

Pricing your review service correctly (Marketing Hub 02-11-09)

Having created your ongoing review service to support your client value proposition, you will need to review both the way and how much you charge. view

Beware overengineering (Marketing Hub 02-11-09)

In our coal-face work with advisers we often find back-office systems – not to mention staff – creaking under the weight of an over-engineered review process.This is often the result of a genuine desire to deliver outstanding value to clients and to justify the charges. view

Making your review service stand out (Marketing Hub 02-11-09)

What makes a review service stand out in the client’s mind? Until clients go through a review meeting with you and come out the other side having seen it and experienced it for themselves, they are not in a position to judge its value. However, you can position it as a high-value service by stressing how important regular reviews are and demonstrating this with a clear and structured approach. view

Creating a review service (Marketing Hub 02-11-09)

In the next few articles we are going to focus on how to create an ongoing review service for clients that they will value highly. view

The power of client case studies (Marketing Hub 02-11-09)

Articulating your value proposition to new clients is often a challenge for advisers. However, the first meeting storyboard and first meeting kit we have already looked at give the adviser the structure – and the confidence – to position their value in a consistent manner. view

Making your proposition tangible (Marketing Hub 02-11-09)

Having developed your compelling first meeting storyboard to help sell your proposition to prospective clients, you are still faced with the challenge of how to make what you do tangible for clients. In this piece, we will create a ‘first meeting kit’ that will turn your intangible product – financial advice – into something tangible for the client. view

Get real, build a business, you’re not in the movies (Citywire - New Model Adviser 28-10-09)

The attitude that you can just tweak your business model or ‘build it and they will come’ will not bring you success in either developing or exiting your business. Make sure your proposition offers value. view

Pricing on the cake (Adviser Business October 2009)

Pricing is a difficult area for most advisers but it does not have to be complicated. The key is to make sure it is understandable and transparent for your clients. view

Win-win relationships last longer (Citywire - New Model Adviser 14-09-09)

Great advisers are those who put their clients at the centre of their business and ensure they make a profit that reflects the effort they put in. view

The rewards of reviews (Professional Adviser 03-09-09)

Brett Davidson, chief executive of FP Advance, explains how advisers can use thereview process to add value for clients and grow profits. view

Website presence (Professional Adviser 20-08-09)

Brett Davidson, chief executive of FP Advance, explains how the right website can help attract and retain the right clients. view

Using your office to position your business (Professional Adviser 06-08-09)

Brett Davidson, chief executive of FP Advance, explains why the traditional method of IFAs meeting clients at their homes no longer projects the image that high-quality advisers aspire to. view

Interview with Brett Davidson (Macquarie 01-08-09)

This month Brett Davidson, Chief Executive of FP Advance, talks to us about his experience in the industry and his interests outside of work. view

Striking a chord (New Model Adviser 20-07-09)

James Harvey grows his client book by ensuring his seminars hit the right note. view

Maximising profits for minimal investment (Professional Adviser 02-07-09)

Brett Davidson, chief executive of FP Advance, explains that effective client management is a key driver of profitability. view

The first meeting storyboard (Marketing Hub 03-06-09)

Now that your client segmentation, propositions and pricing are sorted, all we have to do is find an effective and compelling way of communicating it to new clients at a first meeting. That is exactly what the First Meeting Storyboard is designed to do. It is simply a series of presentation slides, either in PowerPoint or hard copy, designed to help you sell your service proposition – not products – to your prospect. view

Charging an appropriate fee (Marketing Hub 03-06-09)

Having established your charges for upfront advice, what is it appropriate to charge for the implementation of that advice and the regular ongoing review service?Well, let’s start by contrasting the ‘old’ and ‘new’ models. view

Where and what should you charge? (Marketing Hub 03-06-09)

Last time we looked at the various points in the client relationship where the adviser adds value. In theory, every point at which value is added is an opportunity to charge. So let’s revisit some of the key points in the advice process at which it should be pretty straightforward to demonstrate value add to clients.We’ll start with delivery of advice. view

Pricing - Price is what you pay value is what you get (Marketing Hub 03-06-09)

Having decided what level of service you will offer each client segment, how do you decide what you will charge for it? This is an area most advisers struggle with. Usually, they have never stopped to think about the value they add to their clients and, when they do discover their true value, they struggle to communicate it effectively to the client. view

Creating your service standard (Marketing Hub 03-06-09)

Now that we’ve seen the way the airline industry apply the principles of segmented service standards let’s design our own. So what should be in it? Frankly it’s up to you. The starting point has to be asking “What do my clients want or expect from me?” This is the first sticking point because, in our experience, most advisers don’t know since they’ve never posed the question to clients. view

Ensure the pricing is transparent and fair (Citywire - New Model Adviser 01-06-09)

Out of the various approaches to pricing, advisers should be aiming for the premium space – but for this, they must offer the highest quality service. view

The Best Financial Plan in the world? (Financial Planner June 2009)

To borrow from a classic advertisement: “Carlsberg don’t do Financial Planning but if they did it would probably be the best Financial Planning in the world”. So what would it look like? Brett Davidson, chief executive of consultants FP Advance, explains. view

First impression (Adviser Business June 2009)

Even when advisers have carefully segmented their client bank and developed carefully differentiated service standards for each segment, one of the biggest sticking points for advisers is how to communicate their proposition to new clients in an effective and compelling way. That is exactly what the first meeting storyboard is designed to do. It is simply a series of presentation slides (powerpoint or hard copy) designed to help you sell your service proposition (not products) to your prospective client. view

Set on segmentation (Adviser Business May 2009)

In our consulting work, we very often find advisers running themselves into the ground trying to deliver a first-class service to every single client. What is more, many of these clients are not generating sufficient recurring income to make a C Class service profitable, never mind A Class. view

Box Clever (Adviser Business, Money Marketing April 2009)

Advisers must come out fighting if they are going to keep ahead of regulatory changes and survive the recession with their businesses intact. view

IFA profits rocket with ‘proper' client segmentation (Published on IFAonline 24-04-09)

The "effective" segmentation of clients, including grouping them by value and differentiating the service they receive, can more than double a firm's profitability. view

IFA business health tool launched (Published on IFAonline 24-04-09)

Determining profit and revenue per client and per adviser are just some of the functions available to firm owners via a tool launched this week. view

Staying true to the core (Professional Adviser 23-04-09)

Bluefin’s decision to close down its networks operation and offer its members a transfer to Sesame makes a lot of sense for the group. view

IFA profits can rocket with ‘proper’ client segmentation (Professional Adviser 23-04-09)

The “effective” segmentation of clients, including grouping them by value and differentiating the service they receive, can more than double a firm’s profitability. view

The big money prefers smaller firms (Financial Times 10-04-09)

Wealth advisers in the UK are overhauling their models to distinguish themselves from more expensive private banks and win more clients, according to a new survey of the industry. view

Simplifying your life (Professional Adviser 09-04-09)

The business of providing financial advice is very simple, but many advisers overcomplicate it. Clients want someone they can trust to help them set some objectives (based on what they already know they want), put a plan into action and keep it on track. Not so complicated. view

Standard bearer (Adviser Business April 2009)

Advisers that have decided to move from a transaction-based businessmodel to one that builds real value for its owners by creating a long-term recurring revenue stream will struggle to do so without a compelling client value proposition. Put yourself in the shoes of any potential new client – howmight they be feeling? view

The next model (Adviser Business March 2009)

Innumerable column inches have been devoted to the impact the RDR (or retail distribution implementation plan as it is now called, so game on) will have on the financial advice sector in the UK. Let’s be honest, we left the FSA with few choices. We have, as an industry, not done nearly enough to address the issues we and the FSA have known about for years. Disclosure hasn’t worked. According to the FSA “every disclosure initiative we have tried has underperformed”. view

Client segmentation for winners (Citywire - New Model Adviser 16-03-09)

Making client segmentation a winner for your clients and your business is not as easy as ABC. You must drill down further to match your services to their needs. view

Segmented Service Standards (Marketing Hub 05-03-09)

Having explored how we can effectively segment our clients, we now need to design and consistently deliver to each segment a level of service that meets their needs, that they value and for which they are prepared to pay. view

Client Segmentation - Where do I start? (Marketing Hub 05-03-09)

In the previous article we looked at the benefits of segmentation. Now it’s time to get to work on actually segmenting your existing clients. view

Why Client Segmentation Is Critical? (Marketing Hub 23-02-09)

The area of business management that is most poorly done infinancial services – at provider level as well as adviser level – is client segmentation. View

Preparing your business for 2012 (Marketing Hub 23-02-09)

The editor’s observations early in the new year that the Retail Distribution Review will bring with it some significant challenges for most traditional, transactional IFAs was right on the money. View

The power of PR (Professional Adviser 18-12-08)

In a recession the tendency is to cut back on areas such as marketing and PR but it is the most forward thinking companies that will use PR to greatest effect in these times, argues Elizabeth Holt. view

Broken model (Adviser Business October 2008)

We have seen numerous learning academies springing up all over the place in recentmonths, supported by providers either operating alone or, more usually, in some sort of collaboration with the PFS/IFP aimed at helping advisers attain diploma-level qualifications in readiness for the increased standards resulting fromthe retail distribution review. view

A problem shared (Adviser Business September 2008)

Question: I am looking to recruit a paraplanner. What sort of skills should I be looking for and how can I use them to best effect in my business? How can I also make sure that I retain them? view

Value is in the eye of the beholder (Published on IFAonline 14-07-08)

An IFA client has started working through his existing clients, one by one, face to face to present his new proposition. view

Bullet proof business stratagy (New Model Adviser 07-07-08)

The retail distribution review (RDR) is starting to get the industry thinking about what it might look like in the future. However, you don’t need to wait for the outcome of the RDR to start work on your business strategy. view

You can take them with you (Professional Adviser 03-07-08)

From this month’s survey it was clear that for most advisers looking to switch from a commission-focused to a fee-based business model, the biggest concern was how to persuade their clients to accept the new way of working. view

Making the most of the web (Professional Adviser 03-07-08)

Client contact via the internet is the quickest, easiest and cheapest way to stay in touch, reassure and cement relationships. view

Time for IFA's to change thinking on client value (Published on IFAOnline 06-06-08)

John Robinson's Viewpoint. view

Monthly survey (Professional Adviser 05-06-08)

Advisers responding to our survey this month said referral business from local accountants can often bring in little new business. view

FP Advance offers online course for transitioning IFA'S (Citywire, NMA Edition 19-05-08)

New model consultancy firm FP Advance is to launch an online course for advisers transitioning to fees planning, in a bid to capitalise on increasing enthusiasm for new model planning. view

Ask the consultant (Professional Adviser 24-04-08)

A strategic marketing plan forces a business to assess its strengths and so helps refocus on key messages for both new and existing clients. view

Advisers warned not to get hung-up on RDR outcome (Published on IFAOnline 23-04-08)

The outcome of the Retail Distribution Review (RDR) should not matter as advisers must change their business models to succeed anyway, according to transition planner FP Advance. view

How can financial planners succeed in difficult markets?(Published on IFAonline 18-04-08)

Jim Constable's Comment. view

Credit crunch...what credit crunch? (Published on IFAonline 08-04-08)

John Robinson's Viewpoint. view

Ask the consultant (Professional Adviser 13-03-08)

The first challenge for most firms transitioning their business model is improving their operational effectiveness. This month's question for our business consultant is how to start implementing the processes to achieve this. view

None of us are as smart as all of us (Published on IFAonline 20-02-08)

Jim Constable's Viewpoint. view

The first client meeting (Professional Adviser 31-01-08)

Every two weeks we ask advisers to highlight a particular business or technical issue and we then put that issue to a consultant or industry expert for their views and guidance. view

Tackling the 10 most common mistakes planning firms make (Financial Planner Dec 2007)

Most planners want to improve peformance but what are the common business mistakes they make? Brett Davidson of consultants FP Advance provides some answers. view

Moving to a Fee-based Financial Planning Model (PIBA 27-11-07)

Advisers looking to transition their business from a sales based up-front commission model to one that charges ongoing fees for access to advice need to have a clear transition plan. view

What is the role of the introducer? (Published on IFAonline 27-11-07)

Jim Constable's Talking Point. view

What Do I Get For My Money? (Published on IFAonline 1-11-07)

John Robinson's Talking Point. view

Experienced (Professional Adviser Supplement)

We found that by concentrating on fewer clients we could service them properly, add value and so charge fees and we were no longer working ridiculous hours. view

Opportunities, not roadblocks (Professional Adviser 11-10-07)

Have you ever thought of compliance as a marketing tool? asks Brett Davidson. view

IFP conference - New model advisers worth more says FP Advance (Money Marketing 03-10-07)

New model adviser businesses are worth more money than companies that run on traditional models, according to consultant FP Advance. view

Tips From The Coalface September 2007 (IFP E-News 27-09-07)

We are pleased to announce a new regular feature in E-News. Brett Davidson at FP Advance will be giving us his "Tips from the Coalface" on a monthly basis - the first one takes a look at the "Cavendish Medical Priority Card". view

How lucky do you want to be? (Published on IFAonline 19-09-07)

The idea that it is a good thing to be lucky has been around for some time. A quick search of any internet quotes engine will tell you things like “it’s better to be lucky than it is to be good” and “successful people are very lucky, just ask any failure”. view

Robinson's Talking Point, Understand Before You Buy (Published on IFA Online 23-08-07)

In the current climate, post Retail Distribution Review, more press space is being given over to discussion on issues like client segmentation and client proposition. view

New Models Are Hot Property (New Model Adviser 09-07-07)

As the financial services industry matures, the value of a new model business is increasing rapidly from that of an old model business, creating opportunities for those who understand how sale value is created. view

The Way Forward Is Out There (New Model Adviser 11-06-07)

How capable is the average small IFA of competing with investment management professionals and delivering an equal quality of service? view

Taking Responsibility For Our Actions (Professional Adviser 10-05-07)

The FSA is seeking input on the wrap market as part of a discussion paper to be released in June. The financial advice industry will shoot itself in the foot unless it addresses the underlying problems with its current business model, says Brett Davidson. view

Stop the Victims and Survivors Syndrome (Published on IFAonline 20-04-07)

Jim Constable's Talking Point. view

Industry wants focus on service, not products - FSA (Published on IFAonline 11-04-07)

Initial feedback on the retail distribution review supports a move away from the focus on products towards the range of services which reflect consumer needs, says the FSA. view

Actions for Implementation of Client Segmentation (Professional Adviser 06-04-07)

When Chief Executive of FS3 Ltd Michael Godfrey attended FP Advance’s seminar on client segmentation, he decided that this was the route his business should take. view

The ABC of Moving On (New Model Adviser 02-04-07)

Deciding to change your business model is a big step, but completing the migration successfully can seem more of a leap of faith. view

Drains and Radiators (Published on IFAonline 22-03-07)

Jim Constable's Talking Point. view

FP Advance Calls On Regulators (Professional Adviser 08-03-07)

Transition planning firm, FP Advance, has joined the debate on commission calling on regulators to help IFA's build a more effective business model instead of axing commission. view

Life Begins at Four P's (New Model Adviser 05-03-07)

There are many ways to calculate the ‘correct’ fee level for your business but at FP Advance we like to keep this very simple. view

Bankhall offers aid in fees move (Financial Adviser 08-02-07)

Bespoke workshops to assist IFAs in fees transitioning. view

A Whole New World? (Professional Adviser 01-02-07)

Brett Davidson, Chief Executive of FP Advance, believes advisers can make the transition of their business models to focus on service, not selling, without seeing a massive hit to revenue. He tells Nick Paler how he is using experiences from work in his native Australia to develop this concept in the UK. view

The Price is Right? (New Model Adviser 29-01-07)

When charging fees it is key to clarify not only what this levy is and where it applies but also the added value you bring to the client which justifies it. view

FP Client Holborn Financial Topped Latest Mystery Shop (Financial Adviser 11-01-07)

FP Advance client, Holborn Financial has topped the latest ‘Mystery Shopper’ survey by FT publication Financial Adviser reviewing financial advisers in the Wimbledon area. view

Getting advisers on board (Financial Adviser 11-12-06)

The market for outsourced investment management is growing strongly with a range of alternative strategies establishing market share. Fund of funds, manager of managers, discretionary management, and passive investment strategies are all making their mark. view

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