Our latest poll explores the reasons that advisers and advice practices choose to move their business from one licensee to another. We are asking:
What are the two most important factors that would cause you to change or consider changing dealer groups?
The move by Wealthfarm, one of Garvan FP’s largest practices, to Synchron, is the latest in what appears to be a fluid market in the lead up to the formal implementation of the FoFA reforms from 1 July 2013. (see: Wealthfarm Joins Synchron).
All licensees are striving to put their best foot forward as many advisers seem to be asking themselves the question about which licensee will be the best fit for their practice: “Do we stay with our current licensee, or do we move?”
During the last week there has also been a very active discussion within the Australian Risk Advisers LinkedIn network, where advisers around the country have provided their opinions about the important elements they believe should be considered when deciding whether to move licensees or to stay where they are.
The key factors listed in our poll are based in part on this adviser discussion. They include:
- Fees and dealer splits
- Approved product lists
- Licensee owner (institution or ‘non-aligned’)
- Culture of the dealer group
- Support services
- Compliance support
Tell us what is important to you, either in terms of why your current licensee is the right fit for your practice, or why you are looking elsewhere, and what you are seeking…
