I hope that everyone reading this can agree that more people need to get financial advice. And that we should stop the ‘my advice is better than yours’ fisticuffs. Choice is good. We all need to do a better job of helping people find the right advice.
To grow the size of the overall advice pie we have to focus on the elevator pitch: What do we do? Who do we help? What makes us special?
Consumers want to know in simple terms exactly what the service will entail, what time sacrifice is required, how we will talk to them, who will talk to them, what we will charge them (illustrated in pounds as well as percentage) and whether it is a one-off or ongoing service.
If everyone could put this on one PowerPoint slide and slap it on their homepage, we would be doing consumers a huge favour. More people could confidently choose the advice they want, at the time they want it, from the channel or person they prefer and at a price they are comfortable with. Simple, right?
Holly Mackay is chief executive of Boring Money
