{"id":51956,"date":"2020-09-01T17:37:13","date_gmt":"2020-09-01T07:37:13","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=51956"},"modified":"2024-10-30T08:45:23","modified_gmt":"2024-10-29T22:45:23","slug":"fees-for-risk-advice-an-emerging-reality","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/09\/01\/fees-for-risk-advice-an-emerging-reality\/","title":{"rendered":"Fees For Risk Advice an Emerging Reality"},"content":{"rendered":"

More advisers are building fees into their risk-only advice proposition to either replace or supplement life insurance commissions. This is one of the major findings stemming from the fifth edition of Elixir Consulting’s Adviser Pricing Models Research Report<\/a>, which was released this week.<\/p>\n

The report considers the pricing models used by 273 advice businesses around Australia. Among other elements, the report looks at how advisers charge for their life insurance advice, both when it\u2019s included in a comprehensive financial plan, as well as when provided as a stand-alone piece of advice.<\/p>\n

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Elixir Consulting business coach and co-author of the Adviser Pricing Models Research Report Fifth Edition, Graham Burnard …a lot of advisers have a limiting belief when it comes to charging fees for risk advice<\/figcaption><\/figure>\n

In focussing on the relevant findings for insurance-only advice, Elixir Consulting’s<\/a> Graham Burnard<\/strong>, reports 52 percent of advisers surveyed said they operate on a commission-only model and never charge a fee for insurance-only advice: “However, this means 48% of the participating advisers do charge fees of some sort,” notes Burnard, who elaborated that, of the remaining 48 percent who charge a fee of some description:<\/p>\n