{"id":11085,"date":"2011-06-22T09:11:29","date_gmt":"2011-06-21T23:11:29","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=11085"},"modified":"2021-04-15T10:17:05","modified_gmt":"2021-04-15T00:17:05","slug":"news-in-brief-9","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/06\/22\/news-in-brief-9\/","title":{"rendered":"News in Brief&#8230;"},"content":{"rendered":"<ul>\n<li>Radar Results Update &#8211; Drop in Risk Practice Values<\/li>\n<li>Asteron&#8217;s FoFA Lobby Pack<\/li>\n<li>MLC Online Video Program<\/li>\n<li>Marc Bineham Wins National Award<\/li>\n<li>Insurance Sales on the Rise at RI<\/li>\n<\/ul>\n<p><!--more--><span style=\"text-decoration: underline\"><strong>Radar Results Update Shows Drop in Risk Practice Values<\/strong><\/span><\/p>\n<p>Industry acquisition firm, <a href=\"http:\/\/www.radarresults.com.au\/index.htm\" target=\"_blank\" rel=\"noopener\">Radar Results<\/a>, has released an update to its financial planning recurring revenue multiples, following April&#8217;s Future of Financial Advice (FoFA) announcement.<\/p>\n<p>While revenue multiples have remained relatively steady for investment clients, the firm&#8217;s results show that the\u00a0value of risk clients has dropped by approximately 0.5x since September 2010.<\/p>\n<p>According to Radar Results, the current recurring revenue multiple for risk clients (average age under 50 years) is 3x to 3.5x for city\/CBD practices, and 2.7x to 3x for regional\/country practices.<\/p>\n<p>The revenue multiples are based on actual prices paid for financial planning practices or client registers since May 2011.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>Asteron Launches FoFA Lobby\u00a0Pack <\/strong><\/span><\/p>\n<p>Asteron has launched a &#8216;lobby pack&#8217; to help advisers educate their local federal MPs on the implications of FoFA.<\/p>\n<p>The pack includes an introduction letter, a document outlining key discussion elements to be raised with the MP, and two leave-behind flyers highlighting the underinsurance problem and the value of financial advice.<\/p>\n<p>In an email to advisers, Executive General Manager, <strong>Jordan Hawke<\/strong>, said there was still time for the industry to act.<\/p>\n<p>&#8220;The Future of Financial Advice is in our hands. And as an industry, we can unite to shape our own future,&#8221; Mr Hawke said.<\/p>\n<p>Advisers can contact their Asteron Sales Manager for a copy of the pack.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>MLC Launches Online Video Program<\/strong><\/span><\/p>\n<p>MLC has launched a new online video program called Insurance Perspectives.<\/p>\n<p>The insurer says the monthly videos will be used to share perspectives on key industry issues, business initiatives and ideas.<\/p>\n<p>The first video features an interview with <strong>Duncan West<\/strong>, Executive General Manager of MLC Insurance, and can be accessed from <a href=\"http:\/\/www.mlc.com.au\/mlc\/im_considering_mlc\/adviser\/news_and_information\/insurance_perspectives_videos.html?WT.ac=Insurance Perspectives\" target=\"_blank\" rel=\"noopener\">MLC&#8217;s website<\/a>.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>Marc Bineham Wins National Award<\/strong><\/span><\/p>\n<p>Sydney-based financial adviser,<strong> Marc Bineham<\/strong>, has been named Professional Investment Services&#8217; (PIS) Risk Adviser of the Year.<\/p>\n<p>Mr Bineham was chosen from more than 1257 financial advisers in PIS&#8217; Australian network, who were judged on a combination of factors including production, professional standards, ongoing activity, business growth, and advocacy of the group.<\/p>\n<p>Speaking about the award, Mr Bineham said it was a great honour and very unexpected.\u00a0 &#8220;Noall &amp; Co. is delighted to be acknowledged for all its hard work,&#8221; he said.\u00a0 &#8220;It is the appreciation from our clients and the dedication of our staff that really makes us feel proud about what we do.&#8221;<\/p>\n<p>Mr Bineham is the NSW\/ACT State Director of the Association of Financial Advisers.<\/p>\n<p><span style=\"text-decoration: underline\"><strong>Insurance Sales on the Rise at RI<\/strong><\/span><\/p>\n<p>RI Advice Group (RI, formerly RetireInvest) says that its life insurance sales have increased by more than 300% over the past 2 years.<\/p>\n<p>CEO <strong>Paul Campbell<\/strong> attributed the growth to the repositioning undertaken by the business in late 2009.<\/p>\n<p>&#8220;Organisational changes, including the appointment of <strong>Col Fullagar<\/strong> in 2009 to drive RI&#8217;s in-house risk capability, has meant advisers are getting more support through the risk process.\u00a0 RI&#8217;s risk training program has also been significant with several courses being held including field underwriting, calculating the benefit amount and sales skills,&#8221; Mr Campbell explained.<\/p>\n<p>According to RI, risk insurance production from those attending the training courses showed an increase of 62% over the past six months.<\/p>\n<p><span style=\"text-decoration: underline\"><strong><\/strong><\/span><\/p>\n<p><strong><\/strong><\/p>\n<p><span style=\"text-decoration: underline\"><strong><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Radar Results Update &#8211; Drop in Risk Practice Values Asteron&#8217;s FoFA Lobby Pack MLC Online Video Program Marc Bineham Wins National Award Insurance Sales on the Rise at RI<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-11085","post","type-post","status-publish","format-standard","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/11085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=11085"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/11085\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=11085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=11085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=11085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}