As a risk specialist adviser, I’m prepared to explore alternative propositions such as consulting or general advice as a way to retain my relationship with my clients and to extend my involvement in the industry.
- Disagree (46%)
- Agree (37%)
- Not sure (17%)
Our latest poll is drawn from two recently-reported initiatives which seek to offer an alternative career path for risk specialist advisers:
Important in this conversation is the need to clarify that these offers and this debate is not about how to circumvent or ‘get around’ minimum education standards mandated by the Government and implemented via FASEA.
Rather, this discussion is one which considers different career options for risk advisers who elect not to meet the new minimum education requirements but who still seek to continue to add value for the clients they serve.
… the empathy that exists between the adviser and the client is the glue which holds their relationship together
In the vast majority of instances, the empathy that exists between the adviser and the client is the glue which holds their relationship together. And it appears that at least a proportion of risk advisers who aren’t prepared to meet the new education standards still want to find a way to maintain an engagement with their clients in a way which will continue to add value, even if this is not as an authorised representative delivering personal financial advice.
Of the two offers that have been reported by Riskinfo during the last week, one scenario involves the adviser ceasing to be an authorised representative and becoming a consultant, working in conjunction with the authorised representative in serving his/her client base and sharing the renewal commissions.
The other scenario sees the adviser retain their authorised representative status, but only provide general advice; not personal advice.
Such offers may appeal to many or they may appeal to few. It’s not our role to assess the legitimacy or the value of these propositions, but we’ll be keen to hear from you as to your own assessment of these two initiatives and their potential to offer a genuine career alternative for some or for many.
Let us know what you think and we’ll report back next week…