Specialist risk advice practice, Australian Financial Risk Management (AFRM) has been named as ‘Practice of the Year’ within the TAL Business Partnership Program.
The award was based on contributions and involvement in the TAL business partnership community, unique business developments, business growth, client lapse rate and feedback from the advisers, clients and TAL business
TAL Sales Development Manager for NSW/ACT, Mitchell Ramsbotham said AFRM encapsulated what the industry looks for in an advisory business.
“AFRM was founded in the late 90’s and are risk only specialists. They have near 10 million inforce with TAL and have been long time supporters and key contributors to our growth,” Ramsbotham said.
AFRM Director, Mark Hoskin said the recognition of the commitment it made to good practice, within an industry which is often under scrutiny, was important and was built on services to clients and strong relationships with insurers.
“We believe this helps to ensure our clients will be treated fairly at claim time,” Ramsbotham said, adding “We have now managed over $100,000,000 worth of claims for our clients since the inception of our business in Newcastle in 1997.”
AFRM Director Nick Hatherly said the practice had managed claims ranging from one off payments of $12,000 for a broken collarbone, to what AFRM believed was the largest income protection claim in Australia, where the client is receiving around $50,000 per month until age 70 and had received $7.6 million in benefits so far.
“We give advice expecting every client to make a claim. Most people think making a claim is something they will never have to do but around 1 in every 50 of our clients has had to do this,” Hatherly said, adding the adviser’s role should continue to include actively managing claims for clients.
“As specialist risk advisers we have close relationships with our preferred insurers. We know the people we will be dealing with when we manage a claim for our clients. We also know that they have a willingness to treat our clients fairly and to do what is right,” Hatherly said.
