Panacea Advise has unveiled a new guide for financial advisory practices entitled Getting Ready for the Future of Advice.
The guide, which Panacea Adviser has commissioned, in partnership with business consultant John Joe McGinley – head of Glassagh Consulting, is designed to help advisory businesses adapt to the many and varied changes affecting the industry and show how they can identify, respond and develop to manage these changes. The firm believes it is how advisers react that will determine their future success so this guide is designed to make this a positive reaction.
Within the guide there is a range of information, support, advice and tips on a variety of topics which are designed to help businesses respond to change in both a positive and profitable manner through methods such as social media, strategic alliances and goal setting.
Working through the guide will enable advisory firms to develop a number of written and personal goals which allow a positive reaction to ongoing change and to ensure they take maximum advantage of the opportunities that arise.
The areas under review include a detailed look at the variety of changes advisers have to continually contend with, a prediction of how this might change the profession and provision of advice in the future, an analysis of how social media can be utilised to engage and communicate with clients and to develop the next generation of advice services, and finally how to put in place the necessary goals to ensure the business is ready for the future of advice.
The guide aims to develop advisers’ and business owners’ thought practices when it comes to change management and how they need to ensure up-to-date knowledge and learning breeds strong and positive responses which take the business in the right direction. It also includes an ‘ideas checklist’ which includes 10 questions to help either individual advisers or businesses stimulate ideas and to help establish where they, or the firm, is currently at.
From this, the guide user can work through the ideas contained within it, to eventually form a variety of goals and work out a marketing plan to achieve them.
Advisers can access Getting Ready for the Future of Advice, from the following website link: www.panaceaadviser.com/futureofadvice.
Derek Bradley, CEO of Panacea Adviser, said: “We have been saying that these are ‘momentous times’ for the advisory profession for what seems like a generation and yet that sense of unending change remains with us, and will do for the foreseeable future. Which effectively means that all businesses and advisers need to ensure they are continually in a position to be able to react, and react positively, to the variety of developments that appear week after week, month after month, year after year.
“This is why we have commissioned this new guide, ‘Getting Ready for the Future of Advice’, in conjunction with John Joe and Glassagh Consulting, to take advisers and owners through a process and a plan of attack in order to ensure the necessary responses to ongoing change are embedded within. By having a written plan, by setting out both short-term and long-term achievable goals, and by acting upon the needs of the market, industry, clients and business, there is a much better chance of the adviser and firm being fit for client purpose now and well into the future.
“The guide takes users through the entire process, from identifying the ongoing changes to how they can learn from them, what they should be putting in place to move forward, the opportunities that exist to take them to this next level, and the ideas, support, research, information and help which is in place to move them there and ensure they can take the opportunities which exist.
“This is a chance for the Panacea community to use this guide to ensure they are in the best shape, and position possible, to react and respond, and to put in place all the necessary adjustments in order to deal with a marketplace which shows no sign of embracing the status quo anytime soon.”