Recently, I ran a session for a group of 20-years plus CFP veterans. What became evident was that their idea of using technology and engaging collaboratively with clients was very different to mine.

It is common knowledge that a trusted adviser has a far higher chance of selling products or services than one who is not trusted. However, what is meant by the word trust?

Many New Zealand financial advice firms need to fundamentally rejig their way of doing business, to improve client retention, drive down costs and improve the bottom line.

The Santa myth can teach financial advisers a lot about the three levels of trust in the adviser-client relationship.

So you've read FMA's DIMS guidance note and decided it is all too hard? Hopefully not - non-corporate AFAs shouldn't be overwhelmed - and retaining DIMS may be good for business.

A simple answer you might think. But, when we posed this question to the expert panel at the recent Finology Conference, it quickly became evident that they would struggle with who to recommend.

In theory, investment advisory businesses should be booming but the reality is many are just limping along. Where is the disconnect and what needs to change?

The DIPPIE population is sizeable, growing, and affluent - and, they have a number of pressing needs including finding a financial adviser they can trust...

By 2031, the number of Kiwis aged 55-plus will grow to around 32% of the total population. Advisers need to develop different skills needed to really understand and help clients as they approach and enter retirement.

Increasingly, financial advisers operating in the investment space are reassessing their fee structures. Strategi has identified some remuneration trends.

Most people don't understand money - they understand what it does for them. Once you realise this, it is much easier to build a relationship with clients in a productive, less stressful and more holistic way.

A sizeable number of the Disclosure Statements we've reviewed are unnecessarily complicated and are turning a straight forward process into a nightmare.

The FMA's latest AFA Monitoring Report makes interesting reading. The findings support our conclusion after our review of over 500 client files in the previous 12 months - that is, that many AFAs need to do a better job with Statements of Advice.

The traditional approach to the six-step financial advice process teaches advisers to be consultative - but moving to a more collaborative approach would help guard against being replaced by technology, online product sales and banks' standard offers.

On the Reader's Digest NZ Most Trusted Professions 2012 survey, financial advisers ranked 31 out of 40. To improve trust, we need to deliver the advice services clients value most - and a recent survey provides valuable insights into what that is...

In the past, trust was built via face-to-face meetings with clients or prospects. However, in today's busy world with low cost and easy access to technology, things have changed. Trust can now be built from afar...