There’s no denying uncertainty within Financial Services is at an all-time high. However, in light of this, Scott Farmer of Bravium believes this is a golden opportunity for Financial Advisers to re-evaluate their business models, think about how they can add and articulate their value to their clients and continually evolve.
He doesn’t for one minute think it will be easy, but he’s confident it will be worth it if Advisers are to continue making a meaningful difference to clients lives and build profitable businesses.
Bravium has been supporting a fee for service model since 2009. Taking a totally holistic approach, Scott and his team will not take on new clients who are only looking for specific transactional advice.
This episode is a deep dive into Scott’s value proposition and the process he has built to ensure his team are continually going above and beyond for their clients.
Episode highlights:
4:10 - How industry uncertainty is prompting Advisers to re-evaluate their business models
6:15 – How you transitioned to a fee for service model
12:00 – What’s the first step to letting go of insurance commissions?
22:45 - Why Advisers are underestimating the cost of providing advice
32:35 – What’s your initial engagement steps with clients?
38:45 – Why you built your own cashflow fintech solution?
Show Notes:
Scott Farmer LinkedIn - https://www.linkedin.com/in/scott-farmer-57647825/
Bravium - https://www.bravium.com.au/
SavvyApp - https://www.savvyapp.com.au
XY ON TOUR Event Info & Tickets - https://co.xyadviser.com/xyontour-podcast
XY Adviser Online Training Platform -
https://www.xyadviser.com
General Disclaimer -
https://www.xyadviser.com/disclaimer/
This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience.
They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.