04 Feb How many clients will welcome an increase in advice service fees?
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...
17 Jan Funding advice fees with (tight) cashflow
Another burning question from the recent AFA Webinar related to how to help clients with funding their advice fees when they already have tight cashflow. The team at Elixir Consulting discuss this and give you practical ways to help your client with this very dilemma. If...
14 Jan How to juggle existing and 12 month agreements
A recent AFA Webinar highlighted a number of questions on the lips of many advisers. This one covers how to juggle existing service agreements while implementing new 12 month agreements. (We had a bit of a giggle after viewing the recording of this - the 'Brady...
05 Nov The Bottom Line About Your Bottom Line
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...
17 Sep Still using asset based fees?
A few thoughts here if you've been thinking of moving your fee model away from asset-based fees. We had a giggle in the office about this one...
16 Sep Your clients don’t underestimate you – do you?
During a busy week in the East Coast I reflected here on the habit of many advisers of undervaluing themselves...
11 Sep Will 12 month service agreements be a problem in your business?
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...
11 Sep You can’t keep charging all your fees to Super
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...
21 Feb What is the future of recurring revenue in your business?
This is a question that that’s been a consistent cause for advisers to reach out to us lately. We’re entering a time where there's no “passive income” from advice clients anymore. Every dollar you earn must have a corresponding service delivered in return, and that...
15 Feb Are you going to be impacted by grandfathered commissions being switched off?
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,...