Historically, business has been a geographical meeting between suppliers and customers in order to exchange products and services.
However, the rise of the information age has changed this to a large extent, with buyers and sellers no longer required to be in the same place. Products and some services still have to be delivered in geographic proximity, but technology has made it possible to deliver information services remotely.
Yet many advisors still only see clients to which they can travel. They effectively ignore those outside their geographic reach.
Where this became really interesting was in the mining boom. Suddenly, you had a geographically disparate group of people all coming together to make squillions in the middle of nowhere. Many of them had similar financial services needs, and a number of opportunities existed to develop high value practices that dealt with these specialised needs. But unless you were prepared to relocate to mining boom town #14 somewhere in the Pilbarra, there was no real way that you could interact with these people with any scale.
Suitebox allows financial advisors to conduct face-to-face video conferences, present financial plans, and then most importantly, get immediate, compliant sign-offs from clients. If you and your client have access to the internet and webcams, you can conduct and transact business from anywhere.
Suddenly, the ability to build a scaled financial services practice that addresses a specific market vertical is available - without any geographic constraints.
How much better, faster and cheaper would your advice model be if you could focus with scale on specific verticals?