The notion that an adviser might be able to transition their personal advice clients to a general advice model has piqued the interest of many in our Story of the Week, delivering an interim poll result that may surprise more than a few…
- Disagree (44%)
- Agree (38%)
- Not sure (18%)
Our latest poll is taken from a recent article we published on the prospect of advisers considering a general advice model as one option to extend their client relationships and their advice business careers (see: Risk Advisers Still Don’t Know Options…).
While our report focussed on the seemingly high proportion of advisers who were unaware that a general advice model may be a future option for some, the article didn’t address the actual feasibility of an adviser already engaged in delivering personal advice being able to transition to a general advice proposition for their existing clients.
Feedback received by Riskinfo suggests many – possibly most – advisers think it would be challenging to make this transition. Some may consider such a transition to be impossible, given their personal history with many of their existing clients.
But our question here is not about whether transitioning from personal to general advice in order to extend your career would be easy or difficult. Rather, the question is about whether you think it’s possible.
This conversation highlights the fact that there may exist – at least for some advisers – more options to extend their career than they may have previously considered. And as more advisers learn about how a general advice model may be structured, perhaps this will in turn offer new possibilities.
Each adviser will have their own unique view on this question because each has their own unique base of clients. So, when it comes to your own circumstances – and those of your clients – do you think a general advice model could be a potential option for you in future, especially for those who may not or have not elected to sit the FASEA exam and/or achieve the minimum education standards by 1 January 2026.
Tell us what you think and we’ll report back next week…