Studies into what motivates advice consumers – and pricing this financial advice – have revealed a vast chasm between planner models and client expectations.
Speaking earlier this week at the Professional Planner Dealer Group Summit in the Blue Mountains, Scott Graham, principal of The Customer Champion, said advisers must begin by placing the client at the centre of their business model.
Graham’s segmentation research, developed in conjunction with Professional Planner, looks to pair advice strategies with appropriate clients.
“If you are serious about your businesses going forward, you will need to change,” was his challenge to the delegates present.
To watch an interview with Scott Graham, click below.
Sue Viskovic, managing director of Elixir Consulting, said licensees could be doing more to assist their planning practices with pricing strategy.
“There are a whole range of advisers that are still in the process of creating their pricing models and a lot of them are discovering that it is a lot more than just crunching numbers,” she said.
Viskovic said many factors have to be considered with pricing and that there are no easy answers.
To watch an interview with Sue Viskovic, click below.
