Most financial planning business owners start out as experts in their field of financial planning. They are financial coaches to their clients first and foremost and have built serious businesses over time, putting their clients and staff first. Many of our clients who sought us...
The Elixir Consulting team is fortunate enough to have worked with hundreds of successful financial advice businesses around the country. One of the attributes we see in the most successful businesses is that they have a very clear sense of their target clientele and what...
We are currently dealing with the twin challenges of creating messages for clients and staff in an environment of huge uncertainty and then delivering these messages remotely, with all of the challenges this can bring. Engaging with people remotely does not mean that meetings and discussions...
Here the Elixir team tackle another couple of burning questions highlighted in the recent AFA Webinar. The question posed was "From your experience, what fraction of clients will welcome an increase in advice service fees because undeclared commissions received previously have ceased. How does this make...
Respected industry contributor, Elixir Consulting founder, Sue Viskovic, offers a future pathway to success for risk advisers that she says can and does work. This pathway articulates a risk advice business model that embraces a combination of both fees and commissions… There are roughly three months...
We see it all the time: overwhelmed advisers making the mistake of working harder and putting in more hours just to get more done...
Lots of things to consider here, be it logistics or a bigger issue of whether clients see enough value in your proposition to re-sign every 12 months. Here's some advice that helped one adviser who was struggling with this...
Are you in the habit of collecting all of your fees from clients' Super funds? With greater scrutiny on the sole purpose test, you'll be wanting to rethink this for each client...
I originally posted this article in Feb 2019 and it's even more relevant now in October 2019, as the ban on Grandfathered commissions has just been legislated. Whilst our original thinking was that you had until the 1st January 2021 to replace or transition this income to fees,...
If you’re only reading news articles and social media commentary because you don’t have time to read the full 530 pages of Mr Hayne’s report from the Royal Commission, you’re not alone… But this may be adding unnecessary stress, causing you to worry about things without...