Delivering Value Establishing what services you will provide as an - - PowerPoint PPT Presentation
Module 3 Delivering Value Establishing what services you will provide as an independent financial adviser How to calculate your fees How to collect fees Recap of When to collect your fees Module 2 How to renew your fees Protecting your
Establishing what services you will provide as an independent financial adviser
Module 3
How to calculate your fees How to collect fees When to collect your fees How to renew your fees Protecting your independence
Homework: your service matrix
How many planned meetings were held? How many client-initiated meetings were held? What services did the client receive?
Module 3:
Establishing what services you will provide as an independent financial adviser
Your ‘IFA DNA’ Service structures Minimum service standards “Fees For No Service” risks Setting clear service expectations
Agenda…
‘Old world’ model Transactional model Services bundled or unbundled? Relationship model
What is the purpose of your engagement? Are there start & end dates
What minimum standards exist for the services you will provide? What services are you delivering, specifically?
Every client engagement is documented by a service agreement All engagements are renewed at least annually
Parties Purpose of engagement Explanation of the service Deliverables to expect
Scope creep arrangements Fees & payment arrangements Completion/renewal arrangements Next steps
Your IFA DNA Service Structures Minimum service standards Setting clear service expectations
“Fees for No Service” risks
Delivering Value
Required reading resources Multiple Choice questions Complete to unlock the next Module Resources carry CPD points
Module 4:
Connecting purpose and process
Agenda
What do you do for a living? Planning as a product Charging for insurance advice Turning off asset fees and commissions … profitably Quantifying the opportunity
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product Insurance Superannuation Investment Goal planning Estate planning Taxation Cashflow Debt Centrelink Business advisory
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product Needs analysis Holdings report Market research Recommendation s Application Settlement
Insurance
Life & General
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product Holdings report Opportunities advice Market research Recommendation s Application Rollover
Superannuation
Settlement Retail, Industry, SMSF
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product Holdings report Performance report Market research Valuation Cashflow forecast Unrealised gains
Investment
Asset allocation Recommendations
Homework: clarifying your service matrix
Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product Goal setting Goal blueprinting Family timeline Family tree Retirement planning Progress reporting
Goal Planning
Clarity builds confidence, trust, and value.