Industry news and views from Panacea and our partners.
Client Centred Advisers
Client Centred Advisers: 94% of clients say trust matters most. So why don’t advisers study it?
According to Vanguard research, 94% of clients say trust in their adviser is critical to their overall satisfaction.
Client Centred Advisers: Helping clients stop living in life’s waiting room
One of the most common assumptions people make is this: “I’ll be happy when…” I’ll be happy when I can retire. I’ll be happy when the mortgage is paid off. I’ll be happy when I have enough money. I’ll be happy when I can work less. I’ll be happy when I’ve achieved financial freedom. At first glance, these seem like perfectly reasonable goals. In fact, many of them are exactly the kinds of goals financial planners help clients work towards every day.
Client Centred Advisers: Why money is never just about money
Perhaps one of the most important things to understand about money is that people don’t experience it rationally. They experience it psychologically.
The overlooked asset in financial planning: your own well-being
What is wealth? According to Google’s AI Overview, wealth in financial services is defined as: “The total net value of all assets owned by an individual or household, including financial holdings and property, minus any outstanding debts or liabilities.” In other words, the cold, hard numbers.
Turning great conversations into paying clients
A financial planner once told me about a meeting he had with a prospective client. The conversation was going brilliantly. They had been talking for nearly an hour. The client had opened up about their financial situation, their worries about retirement, and hopes for their children.
Beyond the numbers: the quiet power of vulnerability
As a financial practitioner, it’s easy to stay in familiar territory. Talking with clients about products, investments, and financial strategies.
Seven ways the role of a financial planner is gently shifting
Changes in financial planning don’t always arrive with a bang. Sometimes they come quietly, over time, almost unnoticed – unlike something externally imposed, such as Consumer Duty.
Why deep rapport matters more than ever for financial planners
Most financial planners are well-versed on the technical aspects of planning – investment knowledge, asset allocation, and financial strategies.
The law of action - why action beats attraction
Do you want to build a better, more profitable practice but finding progress is painfully slow? You have probably heard of 'The law of attraction'. The idea gained huge popularity when the film and then the book, 'The secret' was released.
Seven ways to become effortless to do business with
One of the keys to creating a thriving practice is to make it effortless for clients to say 'Yes' to doing business with you.
The end of sales techniques: How authentic connection drives results
Being able to positively influence someone and confidently sell your services are essential skills if you want to build a thriving financial planning practice.
The 8 Keys to a Brilliant Financial Planning Fact Find
A successful financial plan begins with an in-depth fact find. Gathering meaningful information from clients is the foundation for creating compelling, tailored strategies. But there’s more to it than just collecting data - the art of uncovering soft facts is equally vital.
How to start a financial planning conversation
There still seems to be a substantial number of advisers and firms that kick off a client conversation with some version of ‘Let me tell you about me (my firm, my process, etc)’. The problem with this is not that a client does not want to know this information. Maybe they do or maybe they don’t.
Why your financial planning practice culture is the key to delivering exceptional service
Are you committed to delivering exceptional client service?
Real financial planning - is it just about the money?
Far too many financial advisers and planners seem to assume that a client’s primary interest is in financial products, investments, and what the markets are doing.
The biggest challenge (and opportunity) in the financial planning process
In a perfect world a client goes through the financial planning process and implements the recommendations and advice they are given. As a result, they are happy and achieve their goals. Yet we are not living in a perfect world, which presents both a challenge and an opportunity for financial planners and their financial planning process.
Will your financial plan pass the 'so what' test?
Imagine that you have gone through the discovery process with your client and your next meeting is to present your carefully crafted financial plan. You want the meeting to be a success and have the client be enthusiastic about your recommendations.
Integrity: It is more important than we think
As professional people we highly value integrity, right? We like to think of ourselves as being a person of integrity and we want other people to act with integrity towards us.
Top ten essential inter-personal skills for financial planners
Is technical ability a guarantee of a successful and prosperous career as a financial planner? For me, the answer is ‘no’ because being a successful practitioner is just as much about people as it is a technical role. So, in this article I am looking at my top ten essential inter-personal skills for financial planners. I would also add that whilst I am calling these skills, they are far more than just learned behaviours. They are deeply rooted in your state of being and cannot be faked.
Financial Planner? Are you selling drills or holes?
In my career as a financial adviser the training and qualification process was all about pensions, investments, insurances, tax, markets, trusts, risk, and so on. So, in the beginning this is what I talked to people about because this is what I thought you did. It did not occur to me until several years later that I was selling something that no one really wanted.
Why does attachment ruin client engagement?
Successful client engagement has many aspects, and this article explores one of the most crucial.
How to ask great financial planning questions
Asking great financial planning questions is the foundation of creating a highly compelling plan for your client. When your client can clearly see that their financial plan is going to be an essential part of getting what they most want then why wouldn’t they be excited about it?
Listening is a super power
Perhaps the most underrated skill for a financial planner or adviser is listening.
Stress free goal setting
What is your experience of goal setting? For me, I would set goals because it seemed like a good idea to know where I wanted to get to. Yet I found that, at times, the process could become quite stressful. I have also heard many people share that this is their experience too. So, if stress free goal setting is something that would be valuable to you, I invite you to read on.
Why elevator pitches don't work
What prompted me to write this piece about elevator pitches was reading an article published by Asana. It said: ‘A good elevator pitch can be the difference between landing your next big opportunity or falling short of the competition.’ Really? Does this stack up?
Client meetings: why speak from your heart and not just your head?
If you were forced to do just one activity in your business and had to relinquish everything else, what would that one activity be?
My favourite Einstein quote and why it matters
One of the biggest challenges for financial planners and advisers is getting stuck on a plateau they cannot seem to move past. Can you think of a recurring problem or limitation in your business?
A new way of thinking about financial planning fees
Although there seems to be plenty of information on the process of increasing your financial planning fees, there is far less on the thinking behind it.
What use is financial planning without strong leadership?
Highly effective financial planners and advisers are not only good at delivering great advice; they are also strong leaders.
Ten powerful ways a financial planner can deeply serve clients from the first moment
As a financial planner or adviser, it is powerful to be of service from the very first moment you meet them.