{"id":32952,"date":"2016-04-12T19:42:27","date_gmt":"2016-04-12T08:42:27","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=32952"},"modified":"2016-04-13T08:13:49","modified_gmt":"2016-04-12T21:13:49","slug":"advisers-like-elder-statesman-idea","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/04\/12\/advisers-like-elder-statesman-idea\/","title":{"rendered":"Advisers Like &#8216;Elder Statesman&#8217; Idea"},"content":{"rendered":"<div id=\"polls-160\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Should older advisers be re-licenced as \u2018elder statesmen\u2019 assisting younger advisers to grow their business?<\/strong><\/div><div id=\"polls-160-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Yes <small>(66%)<\/small><div class=\"pollbar\" style=\"width: 66%\" title=\"Yes (66% | 173 Votes)\"><\/div><\/li>\n\t\t<li>No <small>(27%)<\/small><div class=\"pollbar\" style=\"width: 27%\" title=\"No (27% | 70 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(8%)<\/small><div class=\"pollbar\" style=\"width: 8%\" title=\"Not sure (8% | 21 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_160_nonce\" name=\"wp-polls-nonce\" value=\"3a9fa74c2f\" \/>\n<\/div>\n\n<p>The majority of advisers have signalled their support for an &#8216;elder statesman&#8217; or &#8216;custodian&#8217; concept as one solution for mature age advisers seeking an exit strategy from the sector.<\/p>\n<p><!--more-->Responding to our <a href=\"https:\/\/riskinfo.com.au\/news\/2016\/04\/05\/32912\/\" target=\"_blank\">latest poll<\/a> that asks whether older advisers should be re-licenced as \u2018elder statesmen\u2019 assisting younger advisers to grow their business, 62% have lent their support to this idea. However, 28% are against this option, and 10% are on the fence.<\/p>\n<p>Comments that have been registered in favour of this proposition have mostly waxed lyrical on the broader question of whether existing experienced advisers should be required to achieve a minimum educational qualification in future:<\/p>\n<p style=\"padding-left: 30px\"><em>&#8220;Will gaining a general degree help me help my clients with their insurance in any way? Will completing in a course on TTRs &#8230; help me help my clients with their insurance in any way?&#8221;<\/em><\/p>\n<h6>Stop trying to hold on to the past&#8230;<\/h6>\n<p>While in a minority, the comments from advisers voting against the question addressed the issue in a more specific manner. Their argument is that if experienced, mature-age advisers can serve the industry as custodians and mentors, they should charge a fee for sharing their expertise, rather than continue to access renewal commissions:<\/p>\n<p style=\"padding-left: 30px\"><em>&#8220;If people with insufficient qualifications are so valuable, they should change their business model and become consultants to the qualified advisers who have no &#8216;soft skills.&#8217; They should charge a fee for this work (because people value what the service they provide) and they can use this income to transition to retirement.&#8221;<\/em><\/p>\n<p>And this:<\/p>\n<p style=\"padding-left: 30px\"><em>No. It&#8217;s called consulting. They can charge fees for their service and advice in guiding advisers if that is what they want to do and how they add value. Stop trying to hold on to the past.<\/em><\/p>\n<p>Where do you sit in this debate? Does <a href=\"https:\/\/riskinfo.com.au\/news\/2016\/04\/05\/re-licence-older-advisers-as-mentors-instead-of-requiring-re-education\/\" target=\"_blank\">Paul Tynan&#8217;s proposition<\/a> hold merit? Tell us what you think, as our poll remains open for another week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The majority of advisers have signalled their support for an &#8216;elder statesman&#8217; or &#8216;custodian&#8217; concept as one solution for mature age advisers seeking an exit strategy from the sector.<\/p>\n","protected":false},"author":3,"featured_media":32996,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49],"tags":[4247],"class_list":["post-32952","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-polls","tag-feature"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32952","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=32952"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/32952\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/32996"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=32952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=32952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=32952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}