{"id":56456,"date":"2021-06-29T18:22:48","date_gmt":"2021-06-29T08:22:48","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=56456"},"modified":"2024-10-30T08:44:47","modified_gmt":"2024-10-29T22:44:47","slug":"latest-poll-risk-soas-in-60-minutes","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2021\/06\/29\/latest-poll-risk-soas-in-60-minutes\/","title":{"rendered":"Latest Poll &#8211; Risk SoAs in 60 Minutes?"},"content":{"rendered":"<div id=\"polls-257\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Can you produce and deliver a risk Statement of Advice in 60 minutes?<\/strong><\/div><div id=\"polls-257-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(86%)<\/small><div class=\"pollbar\" style=\"width: 86%\" title=\"No (86% | 120 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(11%)<\/small><div class=\"pollbar\" style=\"width: 11%\" title=\"Yes (11% | 15 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(4%)<\/small><div class=\"pollbar\" style=\"width: 4%\" title=\"Not sure (4% | 5 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_257_nonce\" name=\"wp-polls-nonce\" value=\"083cd52a6d\" \/>\n<\/div>\n\n<p>Our most recent Adviser Focus article written by <a href=\"https:\/\/www.astutewheel.com.au\/\" target=\"_blank\" rel=\"noopener\">The Astute Wheel&#8217;s<\/a> <strong>Michael Topper<\/strong> outlined how a short, simple, comprehensive and compliant risk Statement of Advice is achievable in 60 minutes. So, we thought we&#8217;d find out where you&#8217;re placed on this topic.<\/p>\n<p>Do you already produce risk SoAs in 60 minutes? If so, it&#8217;s possible you&#8217;re adopting some or all of the recommended steps outlined by Topper in his article (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2021\/06\/24\/risk-advice-in-60-minutes-think-it-cant-be-done-think-again\/\" target=\"_blank\" rel=\"noopener\">Risk Advice in 60 Minutes&#8230;<\/a>). If not, do you think it&#8217;s possible, given the current set-up within your own advice process?<\/p>\n<p>The ongoing commercial viability of risk-focussed advice practices in Australia is largely governed by two critical factors:<\/p>\n<ol>\n<li>The level of revenue the business has the capacity to generate<\/li>\n<li>The cost of delivering the advice solutions which generate the revenue<\/li>\n<\/ol>\n<p>While risk commissions are presently capped at 60\/20 under the Life Insurance Framework reforms, point number 2 above becomes even more important for advisers whose expertise and passion rests in serving the life insurance needs of the community.<\/p>\n<p>It follows then, that if a risk SoA can consistently be completed in 60 minutes, the productivity and efficiency gains may well become a significant factor in the future commercial viability of the advice business, especially if life insurance is the practice&#8217;s predominant narrative.<\/p>\n<p>As can often be the case, our poll question can raise more questions and take us to a broader discussion that touches on the many issues which presently impact risk focussed advisers and advice businesses and future that awaits them.<\/p>\n<p>We welcome your thoughts and will report back next week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our most recent Adviser Focus article written by The Astute Wheel&#8217;s Michael Topper outlined how a short, simple, comprehensive and compliant risk Statement of Advice is achievable in 60 minutes. So, we thought we&#8217;d find out where you&#8217;re placed on this topic. Do you already produce risk SoAs in 60 minutes? If so, it&#8217;s possible [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":56460,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,4474],"tags":[],"class_list":["post-56456","post","type-post","status-publish","format-standard","has-post-thumbnail","category-polls","category-practice-management"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/56456","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=56456"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/56456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/56460"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=56456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=56456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=56456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}