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According to Andrew Inwood of CoreData, there are 4 types of Financial Advisers - Oxes, Foxes, Islanders and Cruisers. Amongst the turmoil that is post Royal Commission, there’s no guess as to which type of Advisers who will, not only be able to sniff out opportunities, but to have the courage to turn these into bottom line positives.
As these name suggest, Oxes are too big and clumsy to shift quickly with the changing environment, Islanders are in their own isolated world, Cruisers are too comfortable to challenge the status quo and just want to sail into the sunset, but the Foxes are nimble and courageous, making quick and calculated decisions when it makes the most sense – when their lives depend on it.
It’s not only during trying times that those with “Fox-like” qualities triumph – in all environments, these types of Advisers would thrive because they never rest. They would always look for continuous improvement, often employing unconventional thinking and methods to deliver better value for their clients and higher profits for their business. Take Samsung as an example – a few years ago, it would have been unthinkable that Samsung would ever come close to Apple in the battle for the smartphone supremacy. And yet, today, it would seem that Apple is the one which may have some catching up to do. One of Samsung’s key success factor was to make huge phones before it was fashionable to do so – a courageous decision which saw it move ahead of the game.
So, what can the Adviser of today learn from this to set themselves up for success in the future?
- Be master of your own destiny - define how you will differentiate yourself
- Think differently about technology - no more following the crowd
- Be smart about selection process - look for integrations, free trials, best-of-breed, follow FinTech news
- Think like a Fox - turn your ideas into your own tools. Use your internal intellectual property to support your differentiation.
At YTML, we can help you to be nimble with technology solutions built specifically to allow you to deliver value to your clients, and at the same time, allow you to create scale within your business. Speak to us about Seido – a financial services App store which allows you to customise your Financial Planning tech environment.
And what of ways to differentiate your value proposition? YTML’s powerful technology, Highlighter, can convert your in-house excel tools and calculators to an online App within weeks and at a fraction of the cost it would take to bring something similar to digital life.
So be brave, be courageous - your future depends on it.
Recent articles
According to Andrew Inwood of CoreData, there are 4 types of Financial Advisers - Oxes, Foxes, Islanders and Cruisers.
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This is the feedback YTML General Manager Advice Delivery, Terri Ho submitted to ASIC on the example SOA provided in Consultation Paper CP 284.
Customer take up of life insurance advice could be adversely affected if Statements of Advice (SoA) for life insurance do not take a more balanced approach to the information they communicate. This is the feedback YTML General Manager Advice Delivery, Terri Ho submitted to the Australian Securities and Investments Commission (ASIC) on the example SOA …
DUMFRIES, Va. — John Dumoulin has never really set foot in an office. He works part-time at Chick-fil-A. But the 17-year-old from northern Virginia is the undisputed king of that bane of office wor…
The regulator’s draft SoA for life insurance needs to be restructured in line with the goal of making advice more transparent, YTML has said, suggesting that focus groups with advisers would ha
Adviser remuneration for life insurance does not need to be spelled out on the first page of a statement of advice (SOA), according to YTML Group. In a submission to ASIC’s consultation paper on a new example SOA for life insurance, YTML detailed why the example document needs to be more balanced.
There is something wrong with the dealer group recruitment model but a revolution is coming. Business owners are, in the main, cynical about recruiters so there is a certain degree of inertia they
It is not in Outsider’s nature to reinforce stereotypes of any kind, gender or race or otherwise. Sometimes, these things just land in his lap when he’s not even seeking them out.
There are too many choices of software in the industry, making it challenging for advisers to integrate new technology, according to advice consultancy YTML. Speaking at a media roundtable in Sydney, YTML director Terri Ho said the reason technology remains a challenge for advisers and licensees is because there are too many choices of software, …
Advisers are challenged by integrating new technology into their firm due to their being too many choices of software, according to advice consultancy YTML.
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Despite the wide variety of technology options available to help advisers streamline their administrative tasks, the vast majority of practices wer...
YTML is a software agnostic service provider, working with the advice industry to solve its software challenges.
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YTML is calling on advisers to extract more value from their relationship with their software by working in partnership with it.
By Cut+PasteMay 25, 2017Advice solution and tech provider YTML is calling on advisers to extract more value from their relationship with their software by working in partnership with it.YTML is…
YTML welcomes the announcements made overnight in the Federal Budget regarding the Government’s commitment to create an environment where fintech businesses can flourish in Australia. According to YTML CEO Kevin Liao, the backing by the Government to help position Australia as a world-leader in innovation and FinTech, reinforces its own philosophy to actively work and …
Technology itself is not a solution but requires collaboration to achieve strong user outcomes, says advice-focused fintech entrepreneur Kevin Liao of YTML.
Technology and advice solutions provider, the YTML Group (YTML) has been recognized as market leaders by being named finalist in three categories – Software Innovator, Compliance Innovator and CEO Kevin Liao for Fintech Entrepreneur of the Year. Speaking at the awards ceremony on Friday night, held at the Ivy Ballroom in Sydney, Liao said being …
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Advice IT consulting firm YTML has announced three new senior hires including the appointment of a former BT Financial executive. In a statement last week, YTML announced the appointment of Damian
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Technology and advice solutions provider, YTML, is appointing three new staff for senior roles to facilitate growth and meet an increase in demand for its products.
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Advice IT consulting firm YTML has partnered with risk software provider Omnium in aiming to deliver efficient life insurance software to advisers.
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Two fintech firms have partnered to provide financial advisers with a life insurance software solution.
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IT consulting and solutions provider Your Technology Made Lite (YTML) is offering advisers accessibility to the fintech space through Highlighter, ...
Fintech firm, Your Technology Made Lite (YTML), is integrating its Highlighter platform technology for advisers' in-house Excel solutions.
Fintech firm, Your Technology Made Lite (YTML), is integrating its Highlighter platform technology for advisers' in-house Excel solutions to boost accessibility and integration with online systems.
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Financial advisers will be able to effectively target the millions of Australians not receiving financial advice if they engage actively with technology solutions and engage in speaking engagements on the public level, according to Sydney-based IT firm, YTML.
By Cut+PasteJune 14, 2017The advice industry will struggle to take the next major step in its evolution unless more innovative solutions are delivered to market.According to YTML CEO Kevin Liao,…
We invite you to watch our latest video program on FSiTV featuring YTML Consulting director Piew Yap, as interviewed by Mark Smith, deputy editor of Financial Standard. In the interview, Yap explains how YTML - which stands for Your Technology Made Lite - has helped major institutions customise financial planning tools such as XPLAN, COIN and Adviser Intelligence for specific needs.
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The internal systems of many organizations have shocking user interfaces. This costs companies in productivity, training and even the customer experience. **Fortunately, we can fix this.**
Forbes Welcome page -- Forbes is a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle.
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