The Social Adviser | Consultation agency

The Social Adviser

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24.01.2022 Most #Advice & #Service firms operate FAR below their optimum profitability levels. There are so many levers that you can pull within your business to make it substantially better, yet in my experience, almost all of those will fail unless you have first built the strongest foundations. Of course, the foundation of every service firm is client engagement, value translation, value delivery and pricing. Yet how much time have you actually invested in mastering the art and scien...ce of these areas? How much external input have you sought? How much time have you spent objectively reviewing your skills, your process and your business? I certainly don’t mean compared to your peers; after all, they are likely making the same mistakes as you. The truth I have come to realise is that every single Adviser and Advice Firm I have ever encountered has gaping defects in the foundations of their businesses. Things that are challenging to fix not because they are difficult to do, but because they first require an evolution of thinking and a change in behaviour to achieve. If you want to move from being a good Adviser to being a great one, then look in the mirror and start with your foundations. Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales

18.01.2022 #businessgrowth #financialplanner #adviser Why it’s NEVER been a #better time to be a Financial Adviser in Australia. Ok, so I know this is counter to how most Financial Advisers in Australia have been feeling over the last two years. However, I wanted to give a reality check on feelings vs business reality. Royal Commission, FASEA & bad media are just a couple of the contributors behind the reality that we have.... Decreasing supply - YUP plenty of Advisers are still on the way out and much fewer are on the way in. Increasing barriers to entry - you guessed it, all this extra hurdle jumping means it’s harder to enter the market. much harder. Increasing demand - every year things get more complex and the need for real Advice is growing not decreasing. However, if you keep going as you have been without adapting, then you are going to be out-competed by those who are evolving. The gym membership model for pricing Advice no longer works, you have to go deep with every client. That means your fees need to go up and so does your ability to translate value. Clients WILL pay you for the touchy-feely Advice that does not require an SOA or a license. What a time to be an Adviser just make sure you are not stuck in the way it’s been done before, that time is over. Do you agree? Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales

17.01.2022 WARNING RANT! #Accountants & #FinancialPlanners ZERO EBIT IS NOT OK! Just the last 2 days, met with 1) An Accounting firm - 1.4 Mil in fees after adjusting for true owners salary there is an EBIT of ZERO! Estimate 18 months to increase Fees to 1.95 Mil without any further overhead. In fact, I expect we will reduce the cost to serve. 2) Met with a Fin Planning firm. $900k of Revenue with normalised EBIT of ZERO! A serious case of underpricing and over delivering. Estimate 18... months to take that to $1.8 million in revenue and from zero EBIT to $800k of EBIT. (Only increase in expense will be paying current team members more). Current owner is working 7 days a week! Not for long... I can tell you that! We are putting him back with his family if I have to handcuff him to his kids. Having Advisers in this position is NOT OK! What you do is INVALUABLE! If you are in this position or similar, take some action. Get some help, make some radical change, so that you can be taking your rightful position in society. Let's get your business models sorted so that you can move onto doing cool things like working ON YOUR BUSINESS and scaling it.

17.01.2022 #Mastering #Client #Engagement Are you creating major cognitive dissonance for your clients because you are not explicitly setting their expectations? Psychologically we fill voids of expectation with our imagination, if you have not clearly and explicitly set the experiential expectations of your clients then you are more than likely creating significant amounts of cognitive dissonance for your clients during their engagement with you.... Understanding how to pre-empt and frame expectations can be one of the most powerful ways to create an exceptional Advice experience with your clients. Do you want the ability to keep your clients accountable? Then tell them you are a professional nagger and that your job is to make sure that they do the small things necessary at the right time to make sure they can get to where they want to be. Expectation management is perhaps one of the greatest tools for having a well trained, engaged client base that gets massive value from their interactions with you. Please share your tips for how you explicitly set the expectations of your clients. #FinancialAdviser #Accountant #FinancialPlanner #Clients #ClientEngagement #Expectations Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales

14.01.2022 If you truly want to build the BEST #client focused business then start by not making it client-focused. Instead, make it YOU focused. Who are you, what is the real value you want to bring to your clients, who do you choose to do it for and on what terms. This is a fundamental shift in perspective for most people in practice. You are not there to serve clients on their terms, you are there to serve them on yours.... That is the only way you will ever create the greatest value for the right people. That is the only way you will live your greatest potential and truly find your power through service. That is also the best way to build a truly profitable and referrable business. So tell me are clients joining your business or are you joining theirs? Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales

10.01.2022 The #PlainTruth is that anytime is the right time to reset your fees with clients. There is always a reason to delay, there is always a better time when markets are better, when you have a scheduled review scheduled etc etc. If the story has changed ie you need to change your fees with clients then in almost all situations the time to do it is now.... You do not have to wait until there is a task or a new project to work on with your clients or some other trigger point. Simply call them or make an appointment and explain what you are doing and why and ask them if that is ok. The fear is in your head. Be honest, be clear and make sure you are creating enough value that you will be there in the future for your clients. Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales

01.01.2022 This one is for the #FinancialAdvisors The greatest value you bring to the table is in helping your clients find #clarity about what is most important to them in their lives and to make the decisions necessary for them to get to where they want to be. If you focus on investment returns or just as dangerously, let your clients focus on their returns as a measure of your value then you are subverting any chance of them truly taking on board the real value you bring to the table.... This is especially true in the good years, as it becomes so easy for an Adviser to use the returns as a leave pass for their review and the necessary restatement of value. Be #explicit about your #value and take control of the value perception in your relationship with #clients Baz Gardner Founder - The Social Adviser https://www.thesocialadviser.com https://www.bazgardner.com https://www.linkedin.com/in/bazgardner https://about.me/BazGardner https://www.linkedin.com/company/the-... https://twitter.com/iambazgardner https://www.instagram.com/iambazgardner #FinancialAdvice #Accountant #Engagement #ProfessionalServices #Sales