{"id":13842,"date":"2012-01-17T19:48:12","date_gmt":"2012-01-17T09:48:12","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=13842"},"modified":"2012-01-17T19:48:12","modified_gmt":"2012-01-17T09:48:12","slug":"cost-of-opt-in-still-looms-large-for-advisers","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2012\/01\/17\/cost-of-opt-in-still-looms-large-for-advisers\/","title":{"rendered":"Cost of Opt-in Still Looms Large for Advisers"},"content":{"rendered":"<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/issues-impacting-profits-of-advice-practices\/\" target=\"_self\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1228               aligncenter\" style=\"border: 0px\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" \/><\/a><\/p>\n<p>Advisers continue to hold concerns over the\u00a0potential bottom line costs\u00a0to their business\u00a0that would be imposed by a client opt-in advice process.<\/p>\n<p><!--more-->In response\u00a0to our question:<\/p>\n<p><strong><em>What single issue will have the biggest impact (positive or negative) on the profitability of your advice practice in 2012?<\/em><\/strong><\/p>\n<ul>\n<li>41% of advisers have said the implementation of\u00a0an opt-in process is what they believe will have the greatest (presumably negative) impact on their practice profits<\/li>\n<li>27% believe the national economy will have the greatest impact on the bottom line of their business in 2012<\/li>\n<li>Only 9% of advisers said the banning of investment and superannuation commissions will have the most significant impact on their business profitability this year (we wonder what this percentage would have been if we had asked the same question only a few years ago).<\/li>\n<\/ul>\n<p>The concern over the cost of opt-in appears to have as much\u00a0to do with the ongoing uncertainty over the fine details associated with its implementation, as there is with a fully priced projection, the estimates of which still range from $11 to $95 and up to $250+ per client.<\/p>\n<p>We also note that the vast majority of advisers do not count the prospect of continuing to receive volume bonus payments as being a major contributing factor to their profitability in 2012.<\/p>\n<p>As we approach crunch time in February and March for the tabling of two reports in relation to elements of\u00a0the FoFA Bills,\u00a0including opt-in requirements, our poll remains open for you to add your vote if you have yet to do so, and to\u00a0leave your comments&#8230;<\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/riskinfo.com.au\/polls\/issues-impacting-profits-of-advice-practices\/\" target=\"_self\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1228               aligncenter\" style=\"border: 0px\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2009\/05\/vote-now.jpg\" alt=\"Vote Now!\" width=\"108\" height=\"47\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers continue to hold concerns over the\u00a0potential bottom line costs\u00a0to their business\u00a0that would be imposed by a client opt-in advice process.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,49,270],"tags":[],"class_list":["post-13842","post","type-post","status-publish","format-standard","category-compliance-regulation","category-general","category-polls","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/13842","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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=13842"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/13842\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=13842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=13842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=13842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}