Financial advisers who plan to work remotely could not only save themselves money, but their clients as well, says the director of a non-aligned advice practice.
Speaking to ifa for an upcoming feature article, co-founder and director of Absolute Wealth Advisors, Dean Holmes – who currently works remotely from the UK – said advisers who want to work remotely will see a number of savings, as will their clients.
"If you were doing this full-time and working remotely from home, there would be a lot of cost savings," he said.
"The rent in the city CBD is expensive. If you don't have to have meetings with clients face-to-face, then that is a big saving as you don't have to pay rent and you don't have to rent a boardroom."
Mr Holmes added that advisers who work remotely can also help their clients save money.
For example, clients whose adviser is city-based face the cost of transport or steep parking fees when attending a face-to-face meeting, he said.
"It can cost $80 to park in [Sydney's CBD]," he said. "So, if I invite a client for a meeting here [in the city] it is going to cost them $80 for them to come and see me."
Advisers who may be considering working remotely should, however, think about testing out how it will work within their business before jumping straight in.
"The next client you take on, try doing a Skype meeting or the next review that you are trying to do, do it remotely," he suggested.
"You can still be in your office and at your desk; just make your client the remote person. That's a good way to test things," Mr Holmes said.
"Test your assumption about whether clients will actually embrace the technology – that is a good way of doing it."
SUBSCRIBE TO THE IFA DAILY BULLETIN
24 Jul 2017Aussie robo-adviser expands to EuropeBy Staff Reporter
24 Jul 2017Advice market ‘ripe for disruption’ from overseasBy Staff Reporter
24 Jul 2017IFAs drive managed accounts growthBy Larissa Waterson
21 Jul 2017ClearView adviser re-appointed to TPBBy Staff Reporter
21 Jul 2017ASIC may get phone-tapping powersBy Tim Stewart
20 Jul 2017Former FSC, Turnbull government staffer joins BTBy Staff Reporter
- view all