8 Steps You Need to Take Right Now To Sell Your Financial Planning Firm in 2017

Warren Buffet says that “risk comes from not knowing what you’re doing”. You may be running a successful and thriving financial planning practice but do you know how to sell it to the right buyer at the right price? If the perfect buyer strolled through the door tomorrow, would you be ready to launch into the sales process? Many practice …

[Survey results] Will the nimbleness of small practices leapfrog large firms?

Following on from our article earlier this year that examined the results of the Centurion Industry Snapshot, we thought we’d take another look at this data and whether the size of a practice, specifically its revenues, had an impact on the planner’s views of the market, growth targets and potential exit strategies. The survey asked our clients a number of …

Advice makes a difference – practicing what we preach

Financial planners, like many others in the professional services space, are in the business of selling ‘advice’. Advice around how, where, when, why and what decision making is required to accumulate and protect assets at various stages throughout their lives. Often this advice is about assisting clients to avoid making poor decisions and choices. Often, the most critical time for …

3 questions I ask every buyer I meet

While buyer activity levels will always fluctuate due to a myriad of factors such as the economy, industry reforms, changing regulatory conditions and seasonality, there are also some clear consistencies when it comes to buyers’ behaviour and sentiment. The best way for me to explain this is to share the two questions I ask every buyer I meet and the …

Rolling back stamp duty

Benjamin Franklin said there were only two things certain in life – death and taxes. And while many of us make healthy choices to extend our lives as long as possible, there is not a whole lot that can be done to avoid paying tax. Tax that seems to be ever on the rise. However, in what is a pleasing moment, last week …

Mistakes most sellers make

When benchmarked against the average family home, a financial planning business is a valuable asset. Yet, when it comes time to sell this valuable asset most financial planners are underprepared and inexperienced. Poor preparation, lack of knowledge and lack of experience in selling, often equates to poor results at the time of sale compared to the alternative. For many, selling …

Expensify – Expense Reports that ‘Don’t Suck’

Managing expense reports is a time-consuming and, let’s face it, downright annoying process which is why I was drawn to the tagline of a nifty little app Expensify. Expensify markets itself as creating “Expense Reports that Don’t Suck”, and true to its word, that’s exactly what it does. The app is simple to set up and use, eliminates paper, and …

Trowbridge driving changes ahead for the Insurance industry

Trowbridge ramifications have once again made headlines after a draft Code of Practice, covering both insurance sales and claims, was issued in March by an appointed working group. Whilst still only in draft, there have been a number articles discussing issues with the insurance claims process, the responsibility of the advisor throughout the claims process, and the lack of input …

SxSW Interactive 2016 – The Best of the Festival

On my bucket list is attendance at the annual South by South West Festival (or SxSW) in Austin, Texas. The event features three key streams – Interactive, Film and Music – and attracts many thousands of attendees over a two-week period in March. Whilst I enjoy both film and music, it’s the Interactive Stream that I am most attracted to. …

A Disconnect and an Opportunity

In December 2015 Centurion ran an Industry Snapshot survey that many of you participated in. We asked a number of questions about the impact of existing and pending reforms as well as your projections for revenues and growth in 2016. What became apparent is a disconnect between the potential ramifications of reforms on practices and growth projections for 2016. In …