{"id":46904,"date":"2019-10-29T09:44:22","date_gmt":"2019-10-28T23:44:22","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=46904"},"modified":"2019-10-29T09:44:22","modified_gmt":"2019-10-28T23:44:22","slug":"renewed-call-for-advisers-to-re-think-their-value-proposition","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2019\/10\/29\/renewed-call-for-advisers-to-re-think-their-value-proposition\/","title":{"rendered":"Renewed Call for Advisers to Re-Think Their Value Proposition"},"content":{"rendered":"

Respected industry coach, Chris Unwin<\/a>, has renewed his call for advisers to re-think how they add value for their clients.<\/p>\n

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Industry coach Chris Unwin …much of the problem in communicating value exists only in the mindset of the adviser<\/figcaption><\/figure>\n

As the industry edges towards the final stage of the Life Insurance Framework remuneration reforms – where upfront commissions will be capped at 60 percent from 1 January 2020 – Unwin says it’s becoming ever more critical for advisers to deliver a quality advice experience\u00a0 which in turn creates the perception of value in the mind of the client or the prospective client.<\/p>\n

Unwin says the delivery of a quality advice experience and having that perception imprinted in the mind of the client can open doors to new advice business model possibilities that don’t necessarily rely on commissions to be sustainable.<\/p>\n

While Unwin believes risk commissions will eventually be banned, his message to his peers is that, as long as a quality advice experience is delivered and is perceived to have been delivered, clients will be prepared to pay for that quality advice service.<\/p>\n

Unwin stresses there are three crucial elements associated with advisers delivering value:<\/p>\n

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  1. Creating the value experience in the first place<\/li>\n
  2. Clearly communicating that value to the client or prospective client<\/li>\n
  3. Differentiating the adviser’s value proposition from other advice services the client may be considering<\/li>\n<\/ol>\n

    He says there are many steps that can be taken during the initial advice process that demonstrably deliver value to the clients, such as:<\/p>\n