Debt Stress linked to reduced Employee Productivity

Debt Stress linked to reduced Employee Productivity

Debt stress and its associated ill health looms as a core workplace issue for Australian employers.Over 50% of respondents to AMP’s 2016 Financial Wellness Report indicated that they are not confident about their financial position, and struggle to even meet their day to day household expenses. Debt (50%), retirement (35%) and providing for their family (34%) lead the list of financial concerns for people. Just paying the bills was as high as 32% of all respondents. According to AMP’s data, 25% of employees (2.8 million people) are facing financial stress, the worst sectors being Accommodation and Food Services; Health and Social Services; and Administrative Services. While low income is strongly […]
A collaborative approach to client wealth creation

A collaborative approach to client wealth creation

The Wealth Creation industry is changing – and it has to. Regulation is putting pressure on traditional approaches. Significant and ongoing changes to tax laws, financial product rules, lending products, property markets, superannuation rules and our daily lives are pressuring us to perform, and require more complex financial strategies. A successful strategy is a cohesive one where all the elements work together so the client meets their goals, within their risk tolerances. Relying on one Advisor to be abreast of all of this, at any given time of a client’s financial journey, is presents a significant challenge. Clients forced into self-managing the products, structures and assets that make up their […]
Outsourcing – When it makes sense for your business

Outsourcing – When it makes sense for your business

Sometimes it just makes sense to outsource. We all have limited hours within a day, and this restricts what we can and cannot achieve. As business owners, we are also limited by money - what we can and cannot afford. Quite often, in order to find a solution, or to fill a gap, the business hires a new staff member. But, that in itself can come with a number of headaches we would rather avoid. Outsourcing Cash Flow Management Many advisors think about providing Cash Flow Management Solutions to their clients, but when they begin assessing the software, staffing and compliance costs, it all gets too much. It gets thrown into […]
Are you talking or shouting at your clients?

Are you talking or shouting at your clients?

How many clients do you actually talk to? Actually engage with, not just send out an email with your latest blog or some other marketing tactic you’ve been told to implement by a consultant. Chances are that you don’t speak to that many at all. Now, think about the number of clients you don’t talk to, and how much money they currently bring into your business. For many people, this would be a sizable chunk of their business. Imagine what would you would do if you lost 10% or 20% of these clients, what your business financials would look like. Would you need to lay off staff? If you lose […]
Client expectations – a matter of competition

Client expectations – a matter of competition

When was the last time a client referred you onto someone? When was the last time a client told you what they thought of your service, in a good way? When was the last time you had a client leave you? If clients aren’t referring, aren’t talking, or worst of all are leaving, it’s a sign that things are wrong. It’s important you keep clients engaged, and happy, in order to retain them. As we’ve said before happy engaged clients = more profit. I am sure we all know the flow on effects of more profit. Making small changes, with a bit of outside help, can change the way you […]
Providing value in a growing market

Providing value in a growing market

The Australian marketplace is changing, and it is changing rapidly. Now more than ever, we are expected to be doing more for less; see more clients, get more business and achieve higher profits, all for less money and even less time.