Case Study – Building a Successful Risk Business


Adelaide adviser, Peter Moyle, has established a highly successful advice business that has drawn on experience he has gained during 30 years in the life insurance industry. In this case study, Mr Moyle talks about the key factors that have led to his success.


At a glance

Provided by: Peter Moyle
Experience: 30 plus years in the life insurance industry
Business: Integrated Financial
Specialty: Risk protection solutions for SME business owners


In detail

According to Mr Moyle, whose business, Integrated Financial, specialises in providing risk protection solutions to SME business owners, the success of his practice is based on simple principles.  He says he has applied the lessons learned over his career in the industry to shape the business he has today.

While he admits many of the ingredients to his success are quite basic, Mr Moyle says the challenge is not simply to understand what the ingredients are, but to successfully apply them in his practice, apply them consistently, apply them professionally and apply them every day.  According to Mr Moyle, an adviser must walk the talk, day in, day out.

While every adviser has his or her own story, each with their own influences, these are some of the ingredients that make up Mr Moyle’s recipe for success:

While many advisers enjoy success as generalist practitioners, Mr Moyle’s success has been built around becoming a specialist within a specific market segment.  Initially a general practitioner, Mr Moyle’s business began a significant growth trajectory only after he made the decision to focus on risk protection and business insurance.  The continuing success Mr Moyle has enjoyed since focussing all his efforts on one specific sector sees Mr Moyle emerge as a very strong advocate that “… specialisation for advisers is the way to go.”

Focus on Your Unique Ability
Mr Moyle’s message to other advisers is to work out what it is that they do best – what is their ‘unique ability’?  According to Mr Moyle an adviser’s unique ability is not a skill that only they can do, but rather the skill that they do best and are passionate about – the skill that sets them apart from others. 

Mr Moyle says his own unique ability lies in sales, marketing and building relationships.  At the same time however, he readily admits to shortcomings in other key areas required to maintain and grow a successful business. But this is where he stresses the vital importance of building a successful support team.

Each of Mr Moyle’s team within Integrated Financial possess their own unique abilities which match those other key areas of the business such as client management, administration, compliance, reviews, financial management etc.

Within his practice, Mr Moyle stresses the crucial importance of an ‘implementer’ who will ensure that all agreed measures are put in place.  He also highly values the unique skills of his team who will liaise with clients, underwriters, centres of influence etc, to ensure all elements are delivered in order for plans to be implemented.

specialisation for advisers is the way to go

Consistent Branding and Customer Experience
Ensure both the business and the adviser are identified with a brand that is viewed as professional, reliable and reflects the value of service provided.  While this component sounds self evident, Mr Moyle again highlights the importance of being consistent across the board with everything associated with his personal and business brand.  The client who experiences a consistent and quality service experience is more likely to develop lasting trust and is also more likely to become an advocate to others for the business.

Aside from the specialisation process, Mr Moyle endeavours to differentiate his proposition by sending ‘Happy New Year’ cards to his clients and centres of influence as opposed to Christmas cards.  While he admits this isn’t a substantial activity, Mr Moyle says sometimes it’s the little things that can make all the difference and it doesn’t have to cost a lot. Also, no one else sends clients Happy New Year cards.

Mr Moyle also hosts an annual film evening for many of his key clients and centres of influence, where the cost of the evening is generally covered by a single additional business conversion.

Integrated Financial also produces its own newsletter to clients and centres of influence and they have worked with marketing consultants to help them grow their business.

Mr Moyle also uses a public relations firm to manage the dissemination of his message to the public.  He says the success he has achieved in differentiating his message from competing practices, thanks to the heightened public profile of his business, more than compensates for the cost of his investment in his public relations firm.

Other Success Factors
Mr Moyle details three other key factors that contribute to the success of his practice:

  • Client surveys – have the courage to ask the tough questions of your clients about the service delivered to the client by you and your practice
  • Centres of influence – advice practices and centres of influence who participate in mutual value exchanges will usually develop into productive, profitable, long term relationships
  • Client referrals – Mr Moyle’s experience tells him to seek referrals from A class clients because A clients generally refer A class prospects, while C class clients usually refer C class prospects

Not surprisingly, Mr Moyle is enthusiastic about the future growth prospects for his business, whose success in addition to the above elements, is built on a foundation of the passion he and his support team have for his business: “I love what I do,” he said.