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 independence
Preparing for Module 3 Homework: your service matrix How many planned meetings were held? How many client-initiated meetings were held? What services did the client receive?
Agenda… Module 3: Your ‘IFA DNA’ Delivering value Service structures Minimum service standards Establishing what services you “Fees For No Service” risks will provide as an independent Setting clear service expectations financial adviser
Your ‘IFA DNA’
What role? TECHNICIAN OR SAGE
What positioning? OR BESPOKE VOLUME
What structure? TRANSACTIONAL OR RELATIONSHIP
What breadth and depth? COMPREHENSIVE OR LIMITED
What approach? OR ‘FIX IT’ OBJECTIVES-BASED ADVICE ADVICE
What commitment? OR MAKE IT HAPPEN MAKE IT AVAILABLE
What client profile? OR CLEAR PROFILE RANDOM
Service structure & form ‘Old world’ model Transactional model Relationship model Services bundled or unbundled?
Meredith’s story
Professional service standards What is the purpose of your engagement? Are there start & end dates or is the service ongoing? What services are you delivering, specifically? What minimum standards exist for the services you will provide?
Living your professionalism Every client engagement is documented by a service agreement All engagements are renewed at least annually
Parties Purpose of engagement Explanation of the service Structuring a Deliverables to expect Terms of Scope creep arrangements Engagement Fees & payment arrangements Completion/renewal arrangements Next steps
Your IFA DNA Service Structures Recap … Minimum service standards “ Fees for No Service” risks Setting clear service expectations
Assessment & Resources Delivering Value Required reading resources Multiple Choice questions Complete to unlock the next Module Resources carry CPD points
Agenda Module 4: What do you do for a living? Redefining value Planning as a product Charging for insurance advice Connecting purpose and process Turning off asset fees and commissions … profitably Quantifying the opportunity
Preparing for Module 4 Homework: clarifying your service matrix Services listing looking forward Deliverables listing Service allocation, client-by-client Your service is your product
Preparing for Module 4 Insurance Homework: clarifying your service Superannuation matrix Investment Goal planning Services listing looking forward Estate planning Deliverables listing Taxation Service allocation, client-by-client Cashflow Your service is your product Debt Centrelink Business advisory
Preparing for Module 4 Insurance Homework: clarifying your service matrix Needs analysis Services listing looking forward Holdings report Deliverables listing Market research Recommendation Service allocation, client-by-client s Application Your service is your product Settlement Life & General
Preparing for Module 4 Superannuation Homework: clarifying your service matrix Holdings report Opportunities Services listing looking forward advice Deliverables listing Market research Recommendation Service allocation, client-by-client s Application Your service is your product Rollover Settlement Retail, Industry, SMSF
Preparing for Module 4 Investment Homework: clarifying your service matrix Holdings report Services listing looking forward Performance report Deliverables listing Market research Valuation Service allocation, client-by-client Cashflow forecast Your service is your product Unrealised gains Asset allocation Recommendations
Preparing for Module 4 Goal Planning Homework: clarifying your service matrix Goal setting Services listing looking forward Goal blueprinting Deliverables listing Family timeline Family tree Service allocation, client-by-client Retirement Your service is your product planning Progress reporting
Final words … Clarity builds confidence, trust, and value.
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