How should advisers “think big”?

Back in the 1990s there was a cartoon series called Pinky and the Brain. It was co-created by none other than Steven Spielberg. The titular characters were two lab mice – the first an accident-prone goofball, the second a raging megalomaniac. The premise was neatly established by a brief exchange that prefixed every episode… Pinky:…

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Lifting the curse of the unhappy adviser

It seems reasonable to suppose our chances of finding happiness will increase if we work hard and earn well. I know this can’t be true, though, because I meet so many financial advisers who freely admit to being miserable. Sure enough, these individuals have put in the hours. Sure enough, they live pretty comfortably. But…

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Why robo-advice doesn’t have to be a threat

Remember the classic confrontation between man and machine in 2001: A Space Odyssey? Astronaut David Bowman is trying to re-enter his ship, but the vessel’s onboard computer, HAL 9000, refuses to let him in, famously telling him: “I’m sorry, Dave. I’m afraid I can’t do that.” When Apple launched Siri, the “digital assistant” built into…

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The danger of the adviser/planner divide

Financial Adviser

Anyone who dabbles in philosophy is likely to come across the concept of logical fallacies. Those of us who aren’t quite Bertrand Russell material may think of these as arguments that simply don’t stack up. One of the most common examples takes the following form: “All X are Y, therefore all Y are X.” The…

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The adviser’s dilemma

Some years ago I played a round of golf with an accountancy undergraduate. We needn’t concern ourselves here with who won. What I remember most vividly – and you may think this says something about my performance on the day – is a discussion about business management. At one point I asked the undergraduate if…

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Transparent succession planning

This year we introduced our Motivational Monday video presentations for advisers, ensuring they can stay up-to-date with the latest company news, tips to improve their business, new technologies at their disposal and much more. Recently we launched our three videos to help support advisers with their succession planning and we broke them down into the…

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Adviser specific support

Unlike other non-regulated business, financial advisers have a third administrative function governed by the authorities; on compliance, regulation and generic industry administration. Directly authorised firms tend to have their own staff for this activity or they outsource to other compliance firms, however the best system is t align with a company specifically set up to…

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Calculate your efficiency rate

A sole trader financial adviser working from home can measure how efficient they are by recording the actual hours they spend on specific client business. Each month, record the time you leave the house for a client meeting, the time you spend in the meeting and the return journey (or Zoom meetings). Record the time…

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Continued recruitment helps produce record turnover

With everything that’s currently going on, it’s great to be able to share some positive news. We have seen our turnover hit a record high of £5.5m (for the last 12 months from April 1 2019 to April 1 2020). A major contributing factor of our increase in turnover has been our continued recruitment of…

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