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Making a plan & checking it twice


Over the festive season, it’s traditional for the media to publish lists: top ten trends for the year ahead, issues, predictions (not to mention the wishes) and so on. And they’re always a good read and cover a wide range of important topics relevant to business planning; managing current clients and attracting new ones, industry profile/reputation, technology, attracting and retaining good people, industry regulation, adviser qualifications and business models all receive a mention.

So, as 2018 unfolds, we’d urge you, if you haven’t already done so, to consider which particular issues are relevant to your business this year and what you intend to do about them. While all will be important, there will probably be one or two that stand out as ‘non-negotiable’ for you this year. The one factor that won’t go away but is often left off such lists is… the aging demographic – yes, we’re saying it again! How will aging clients and retiring advisers play out for your practice?

Have all relevant issues already been factored into your plans for the year? If they haven’t as yet… it’s not too late. We can assure you, your efforts will be rewarded:

Further information: Key Findings on Business Planning in the Australian Advisory Industry

Click the link to read a short article on Business Health’s FRVII Key Findings on Business Planning.<<Future Ready VII, Key Findings – Business Planning>>



Adding ‘communication’ to your 2018 plan…

gives further rewards

There’s no doubt that our financial services sector will again be in the public’s eye in 2018. A Royal Commission tends to attract a lot of attention and interest! Hence the importance of effectively communicating with your clients in a proactive, meaningful and frequent manner.

This article includes one of our own ‘top five’ lists: Business Health’s top tips for effectively communicating with clients: <<Who’s on first! (with apologies to Abbott & Costello)>>.

Consider the following results from Future Ready VII:



Be Prepared…

‘those’ questions are coming

Currently, Australians are facing an unusually large number of unwelcome events in the public service arena, leading to continued criticism in the media and from the public (Sydney transport, SA electricity supplies, lack of resources for police and hospitals etc). It is interesting to observe how various spokespersons are communicating (or not) with the public during these situations. Undoubtedly the communication in each situation is a difficult ‘gig’, but we nevertheless can’t help but think that a little more could be done?

Which gets us to financial services – another area which will undoubtedly find itself in the media spotlight in 2018. What is your plan for when you get ‘that call’ or ‘those’ questions directly? Are you confident that your business (yourself and your staff), will be able to competently handle an unexpected and difficult query from a client, prompted by perhaps an unfavourable article in the press? If you are, well done – roll on 2018. If you’re not, then at the very least we urge you to:

  • Get on the front foot and ramp-up your communication efforts. Proactively and frequently reinforce the many benefits you provide to your clients. Your CVP, website, testimonials and case studies all have an important role to play here.
  • Document a simple process within your business as to what should happen if such a call comes in – who answers it and what do they say.
  • And if (when) financial services appears in the media, organise a briefing for all your staff to discuss and plan your response.



Your say…

Send us your insights and Ah-hah! moments (we love to hear about ideas that are working for you!). Prizes for those we have not heard before. Some we have heard recently…

  • Use client photos in various updates, videos and social media articles, to present the personal side of what is very often an intangible product (financial planning).
  • “Measure what is measurable. Make measurable what is not”.
  • Tone from the top.




Converting unique insight into practical, proven solutions

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