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Unregulated Advice
Where does Unregulated Advice fit within Financial Advice?
The truth is that most of the value that Financial Advisers can deliver to their clients does not require an SOA. It’s also true that every Adviser I have ever sat down with has large gaps in how they are articulating the value of the intangible value that their Advice brings (that is a very large data set).
The focus on the rational, tangible and process-driven aspects of Financial Advice and an inability to articulate the deeper implied value of Advice has led the profession to under-deliver to clients and also to produce impaired business profitability.
In my experience working with Advisers, this means 50-70% less revenue per client and a very large multiple of reduction in client outcomes and value perception.
Unregulated advice is just a way for you to go far deeper with your clients and to be far more transformational to their lives. It's time for Advisers to totally re-examine what it is they do and how they articulate their value and charge their clients.
If you do this properly, not only will your clients become raving fans your business will also become far more profitable and with far less proportionate time and cost allocated to compliance.
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By The Social AdviserWhere does Unregulated Advice fit within Financial Advice?
The truth is that most of the value that Financial Advisers can deliver to their clients does not require an SOA. It’s also true that every Adviser I have ever sat down with has large gaps in how they are articulating the value of the intangible value that their Advice brings (that is a very large data set).
The focus on the rational, tangible and process-driven aspects of Financial Advice and an inability to articulate the deeper implied value of Advice has led the profession to under-deliver to clients and also to produce impaired business profitability.
In my experience working with Advisers, this means 50-70% less revenue per client and a very large multiple of reduction in client outcomes and value perception.
Unregulated advice is just a way for you to go far deeper with your clients and to be far more transformational to their lives. It's time for Advisers to totally re-examine what it is they do and how they articulate their value and charge their clients.
If you do this properly, not only will your clients become raving fans your business will also become far more profitable and with far less proportionate time and cost allocated to compliance.