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The dark side of niching
In my last video, I (maybe) sold you on the benefits of niching. But it's not all sunshine and ewoks – you're going to have to get comfortable with ways of doing business that may seem counterintuitive at first. So, in this video, let's explore some of the potential downsides of going down this path:
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Second chances
I broke up with Xplan. I was done. Too many things needed to change in the relationship, and there was too little time for those changes to happen. But then, after a period of seeing other software, we got back together. Watch the video below to find out how the love affair was rekindled.…
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What everyone gets wrong about niching
Despite popular misconceptions, niching isn't actually about demographics or specific types of advice. Instead, it's about delivering a tailored service at scale. In this video, I'll explain why.
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The biggest mistake I made with my fees
Let’s talk about one of the most common (and costly) mistakes I see advisers make when it comes to fees. I say this with love, by the way, because I used to do it too: I’d have a great first meeting, we’d agree on the scope and they’d pay the upfront engagement fee, which covered the SOA. (Or, back in the day, we’d wait…
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Why I strongly suggest you take on a PY adviser
When I first became an adviser, I was young, naive, overconfident and generally had no idea what I was doing. I’d spent many years as a senior paraplanner at a large practice with advisers specialising in all areas. And during those years, I’d developed enough knowledge that I figured, “Well, if they can do it, why can’t…
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When the engine stalls
My career began in the back office, which seems to be the norm when progressing through the ranks of a financial planning firm. The years I spent in this role gave me a good guide on how things should be done – from the ground up. The back office is called the engine room for a good reason; without it, we would stall. I…
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Why I'm dipping my toes into private markets
Over the past year or so, there’s been a lot of buzz around private markets. Whether it’s private equity, private credit or infrastructure, these asset classes are no longer the exclusive domain of institutions and ultra-high-net-worth clients. They’re becoming more accessible, more productised and more relevant to the…
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The delicate balance of profit, people and purpose
When you hear the word growth, what comes to mind? For a lot of people, it’s numbers – bigger profits, more clients, more staff, more everything. But I’ve been thinking about this a lot lately, and I reckon we need to look at growth a little differently, both in business and in life. Growth in business – is more really…
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Growing your PY adviser
Nurturing young talent is crucial for the growth and sustainability of our profession. Having worked in this field for 32 years and hired numerous team members, I've found that guiding new advisers through the professional year (PY) is key to our success and growth as a business. But how do you keep them motivated…
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I'd like to invest in the automatic dog feeder from China
It was some time ago now that we received a couple of odd emails from clients. Let me set the scene: The first email was from a client wanting additional cash to buy a caravan. Given that our client base is predominantly retirees, this was quite typical and par for the course. I’ve known Bev (not her real name) for a very…