Renowned US business coach, Dan Sullivan, says all financial advisers must get used to a future without commissions.
Mr Sullivan advocates the need for all advisers, irrespective of the nature of their services, to charge a fee for the wisdom and advice they deliver to clients and that they should move away from commission-based remuneration.
Mr Sullivan says there is [...]
Financial Services Minister Bill Shorten has told advisers this week he is not convinced that a client opt-in process every two years will have a significant impact on the cost of running an advice business.
We would like your opinion on this issue, where we are asking:
To what extent will a two-year client opt-in process impose [...]
What lessons should Australia’s life insurance industry learn from the devastating floods across Queensland, northern New South Wales and Victoria earlier this year?
Our latest poll question asks:
Has consumer perception of Australia’s life insurance industry been adversely impacted by fallout from the Queensland floods?
Another way we could have asked this question is whether you believe consumers [...]
The Industry Super Network contends client opt-in measures will reduce advice fees for consumers. Do you agree?
Our latest poll question asks:
Advisers have questioned whether the implementation of Future of Financial Advice (FoFA) reforms will increase the number of Australians who will access advice from financial planners.
Our latest poll question asks:
The most contentious outcome from last week’s Future of Financial Advice reform announcement was the Government’s decision to ban risk commissions inside superannuation.
There are so many issues and questions associated with this move, such as whether most consumers will in future be able to afford superannuation risk advice. We will monitor and report on all these [...]
Recent industry speculation suggests the practice of churning life insurance policies is set to become a thing of the past. But what is the opinion of advisers on this issue?
Our latest riskinfo poll asks:
Will the introduction of ’Client Best Interest’ legislation have a significant impact on reducing churning?
‘Client Best Interest’ legislation will be part of the soon-to-be announced [...]
One of the issues stemming from last week’s announcement of the Female Excellence in Advice Award forms the basis for our latest riskinfo poll question, which asks:
Would the introduction of more female risk advisers have a meaningful positive impact on Australia’s underinsurance crisis?
This question relates to underinsurance and gender inequality in the financial services sector. While [...]
The recent announcement that Europe and the UK must switch to unisex insurance rates for all consumers is the catalyst for our latest riskinfo poll, where we ask:
While advisers have clearly indicated their concerns over a client opt-in structure under Future of Financial Advice reform proposals, they have voiced little to no objection over the proposed introduction of a statutory fiduciary duty requirement that advisers act in the best interests of their client.
Our latest poll questions asks:
