Have you heard? The Perfect Storm is brewing...

22nd May, 2017

I’ll not beat about the bush. The world has just changed for Financial Advisers and Planners in the UK.

One word:

Vanguard, the US passive funds giant entered the UK market with a GIGANTIC bang last week. It will now offer its funds DIRECT to investors for an annual administration charge of 0.15% which is capped at £250,000. There is no charge for investment above this.

Do you realise where this is heading?

In the US, Vanguard are taking money off US Advisers left right and centre. And they are now hiring 3000 advisers with a minimum of the CFP designation so they can give clients ultra cheap investing advice, together with a financial planning service, for… get this…. 0.30%.

That’s just 30 bps.

That's 0.30% pa total cost versus up to 3.5%pa including adviser charges.

Who do you think is going to win?


Us ‘untrusted’ Advisers** 

** according to a recent CISI 'Financial Planning Week' Survey

- or whiter than white, super cool, super trusted, Vanguard?

There are going to be huge changes in financial services in the next few short years. Many we can't predict. Technology is playing a major role. But one thing's now for sure: if you've positioned yourself in the 'investment space' you'll be like a retailer competing with Amazon.

Here’s the thing: If your business is transactional based or investment focused, you may want to think deeply about your service model. Fast.

The solution to all of this is actually quite simple.

Whether you know it or not - and whether you capitalise on this or not - there are THREE parts to your job.

1) Lifeplanning

2) Financial Planning


3) Financial Advice. Financial Advice is anything to do with advising on, recommending, reviewing, implementing and / or transacting financial products and investments.

This third part of your job (financial advice) is what clients value least - and it’s quickly becoming commoditised. As is evidenced by Vanguard.

The trouble is, this is where the majority of advisers (and planners) spend their time and keep their focus.

But if you keep your focus here, you could soon be dead in the water. If you’re charging for anything that can now (or soon can) be done online, you could soon be stuffed.

The facts are simple. If you want to secure your fees going forward you’re going to have to communicate and deliver REAL value.

In fact you're going to have to WOW your clients. Not just in year one, but year after year after year.

But you don’t WOW clients with Financial Advice / product implementation.

You don’t WOW clients with technical talk.

You don’t WOW clients with uncontrollable promises of greater returns. (Anyway, research shows that the chances are YOU WON’T outperform Vanguard long term!)

Please read this carefully…..

You WOW clients with Lifeplanning and Financial Planning.

And that’s what BACK2Y is all about.

BACK2Y is the Lifestyle Financial Planning Conference. It’s about getting back to WHY you do your job. Not to distribute products on behalf of the investment industry, but to help your clients get a better life. A life well lived.

You do that with Lifeplanning and Financial Planning.

THAT is where your true value lies.

THAT is where you earn your stripes.

THAT is where you justify your fees - and the only reason why you'll KEEP getting paid.

Ignore this at your peril.

Whether you like it or not, there is a PERFECT STORM brewing: MiFID II, increased FCA scrutiny on fee models, forthcoming inevitable bear market, increasing consumer awareness, robo-advice… and now VANGUARD.

Advisers who think they can continue to charge 1% a year for ‘managing money’ (total costs of up to to 3% to 4% pa using some DFMs) compared to just 30bps with Vanguard, well.. they must be nuts.


But you don’t have to be one of them.

It's time to build a client value proposition, which is ‘intangible, incomparable and uniquely human’ where clients can ‘feel it’ but they can’t price it, or compare it with anything else. This is the one value proposition that will never become a commodity.

So grab a seat to BACK2Y, and you’ll see how, with a few tweaks and a change in focus you can knock your clients' socks off and secure your future by putting more focus on the two parts of your job that you CAN control: Lifeplanning and Financial Planning.

There’s still a few Super Early Bird Tickets left here: EARLY BIRD TICKET

For more info and the inspiring programme for the day, go here: www.BACK2Y.co.uk

I’ll see you at BACK2Y.

Grab a seat.

I promise you, your clients will thank you for it.

Trust me.


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