{"id":13605,"date":"2011-12-07T08:05:51","date_gmt":"2011-12-06T22:05:51","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=13605"},"modified":"2021-04-15T10:20:42","modified_gmt":"2021-04-15T00:20:42","slug":"phone-advice-doesnt-have-to-be-limited","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2011\/12\/07\/phone-advice-doesnt-have-to-be-limited\/","title":{"rendered":"Phone Advice Doesn’t Have to be Limited"},"content":{"rendered":"

Phone-based advice should not be limited to simple, single-issue advice, according to ANZ’s Paul Barrett<\/strong>.<\/p>\n

Mr Barrett, General Manager Advice and Distribution at ANZ Wealth, said a common misconception was that people who used phone-based advice services were only interested in receiving limited advice.<\/p>\n

He was sharing the findings of a customer satisfaction survey which ANZ ran to determine the effectiveness of its MyAdvice telephone-advice service.<\/p>\n

The service, operated out of Melbourne, has grown from 25\u00a0to 35 planners over the past six months, and has provided over 1,200 pieces of advice to ANZ customers.<\/p>\n

The customer survey found that the average satisfaction rating was 7.9 out of 10, with 25% of clients rating their service experience 10 out of 10.<\/p>\n

Phone-based advice doesn’t equal simple advice<\/h6>\n

Mr Barrett said the survey also uncovered that clients were not simply seeking single-issue advice over the phone.<\/p>\n

“We’ve worked out that there are a lot of consumers out there who want holistic advice over the phone,” he said.\u00a0<\/p>\n

“Phone-based advice doesn’t equal simple advice. \u00a0It equals all types of advice. And face-to-face advice doesn’t equal holistic advice either. \u00a0A lot of face-to-face advice can be single-issue, simple advice as well.<\/p>\n

“Advice has evolved to this continuum, where you’ve got the execution-only services at one end… simple advice or limited advice, then you go onto holistic advice and then right at the top end you’ve got private banking and private wealth advice.<\/p>\n

“This is a really interesting development for us, because we always thought it was just going to be simple advice over the phone. \u00a0But to see it now branching out tells you that it’s about the mode of delivery. \u00a0The paradigm has changed a lot.”<\/p>\n

According to Mr Barrett, this paradigm shift has led to an increasing number of advisers looking to their dealer groups to provide them with simple advice tools.<\/p>\n

“I think with opt-in that’s going to be a massive opportunity. \u00a0Advisers will want us to help them get the opt-in, particularly if they’ve got large client bases.”<\/p>\n

Mr Barrett said that the group was currently piloting a service to help advice businesses leverage ANZ’s simple-advice infrastructure. \u00a0<\/p>\n

“Self-employed IFA-style businesses out in the suburbs, who want to be able to offer phone-based advice, either holistic or simple, can lean on this infrastructure and we can help them provide it,” he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Phone-based advice should not be limited to simple, single-issue advice, according to ANZ’s Paul Barrett.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,5,7],"tags":[],"class_list":{"0":"post-13605","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-compliance-regulation","7":"category-services","8":"category-technology"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/13605","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=13605"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/13605\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=13605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=13605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=13605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}