Online credibility needed for successful expansions

By tlewis ·
November 02 2015

Online credibility needed for successful expansions

Building professional referral partnerships and establishing a credible presence online is key if advice firms are to expand interstate, according to Verse Wealth.

Speaking to Adviser Innovation, Verse Wealth co-founder Corey Wastle said building credibility and a professional presence online is essential if any expansion is to be successful.

Mr Wastle, who is in the process of expanding his Melbourne-based firm into Sydney, said partnering with the right professionals is also needed if the firm is to grow within its new market.

"Finding the right businesses or professionals that work with [our ideal client] and have similar values to us in terms of advice and client experience - they're the sort of people that we resonate with […] and [so] we can build partnerships that last," he said.

Mr Wastle argued that LinkedIn is the ideal platform to source such partnerships.

"LinkedIn is just a fascinating place to be able to systematically find those people and take relationships offline that evolve with the right people quite quickly."

According to Mr Wastle, the firm's use of LinkedIn has been considerably successful in terms of creating referral partnerships in Melbourne, and is now showing results in Sydney.

Mr Wastle also noted the benefit of constructing an online presence.

"When people get that first impression of you, you need to be seen to be credible and different and stand for the things that you want to stand for."

He said advisers can build their presence online by publishing information on LinkedIn, their website, Facebook, and through blogs.

"The consistency is important and allows the people that have similar values to you to be able to resonate with you and want to make time to talk to you or meet you," he said.

In addition, Mr Wastle said it's only a matter of time before advice firms are required to incorporate a virtual advice capability.

"Consumers are incredibly time poor, they want things when they want them [and] on their own terms. I think for a lot of busy professionals and business owners, making consistent time to travel into an office is probably unnecessary by the time we get to 2020 at least."

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Online credibility needed for successful expansions

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