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I was surprised to see 81% of advisers continue to follow the percentage charging model. Surely, the drop in fund values means a consequent fall in income. And how many firms can afford that?
People outside financial services don’t understand the difference between different types of insurance.
While the various academies continue to help attract and train new advisers, advisers like myself need to also grow and alter business processes to ensure as many potential new clients as possible can unlock the value of advice to help them through tougher economic times.
The more that you can make it clear to all your clients that debt is nothing to be ashamed of and that the key to tackling it is to understand the scale of the problem and devise a plan with a trusted person, the more we will all be able to help people through these unprecedented times.
Doing things others take for granted can be a rigmarole, stressful and expensive for customers whose needs are non-standard in some way.