{"id":68377,"date":"2023-10-31T15:48:16","date_gmt":"2023-10-31T05:48:16","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=68377"},"modified":"2024-10-29T15:32:41","modified_gmt":"2024-10-29T05:32:41","slug":"future-of-risk-advice-glass-remains-half-empty","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/10\/31\/future-of-risk-advice-glass-remains-half-empty\/","title":{"rendered":"Future of Risk Advice &#8211; Glass Remains Half Empty"},"content":{"rendered":"<div id=\"polls-311\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>I\u2019m more optimistic today about the future of the life insurance advice sector than I was 12 months ago.<\/strong><\/div><div id=\"polls-311-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Disagree <small>(54%)<\/small><div class=\"pollbar\" style=\"width: 54%\" title=\"Disagree (54% | 101 Votes)\"><\/div><\/li>\n\t\t<li>Agree <small>(34%)<\/small><div class=\"pollbar\" style=\"width: 34%\" title=\"Agree (34% | 64 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(12%)<\/small><div class=\"pollbar\" style=\"width: 12%\" title=\"Not sure (12% | 23 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_311_nonce\" name=\"wp-polls-nonce\" value=\"4821396f0a\" \/>\n<\/div>\n\n<p>Little has changed in the last year when it comes to the adviser perspective on the future of the life insurance advice sector.<\/p>\n<p>As we go to press, just over half of those voting in our latest poll (52%) disagree they&#8217;re more optimistic about the future of life insurance advice than they were a year ago. 35% do agree they&#8217;re more optimistic, however, while 13% are unsure.<\/p>\n<p>When we launched this poll last week, we asked whether enough water had passed under the bridge since we asked the same question 12 months ago for you to have developed a slightly more positive (or perhaps more negative) outlook around the future of life insurance advice. The outcome so far reveals, sadly, that your collective answer to this question tends towards the negative. Here again is a reminder of how you voted a year ago:<\/p>\n<p><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/10\/231024-Latest-Poll.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-68313\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/10\/231024-Latest-Poll.png\" alt=\"\" width=\"690\" height=\"193\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/10\/231024-Latest-Poll.png 690w, https:\/\/riskinfo.com.au\/news\/files\/2023\/10\/231024-Latest-Poll-300x84.png 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/a>We could take a stab at what this poll outcome means. For example, does it mean that, while risk commissions have been confirmed as having been retained, this actually means little-to-nothing if they&#8217;re to be retained with the current 60\/20 commission caps and 24-month responsibility period? The intuitive argument here is that there&#8217;s little point in retaining risk commissions if the current remuneration caps act as a significant barrier to the ability to maintain and grow a commercially viable life insurance-focussed advice proposition.<\/p>\n<p>But rather than Riskinfo speculating, we&#8217;re more interested in what you think. While we never claim scientific rigour around our poll outcomes, we&#8217;re nonetheless very interested to understand what it means to you that an even higher proportion of the Riskinfo audience has a negative outlook on the future of life insurance advice today than you collectively did a year ago.<\/p>\n<blockquote><p>What will need to change before more advisers see their glass half full&#8230;<\/p><\/blockquote>\n<p>&#8230;This may in turn lead us to another question, such as: What will need to change before more advisers see their glass half full when it comes to the future of risk advice? What will it take? Is it all about easing the LIF commission caps and the 24-month responsibility period &#8211; or is it more nuanced and more complex than that?<\/p>\n<p>We welcome your thoughts as always as our poll remains open for another week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Little has changed in the last year when it comes to the adviser perspective on the future of the life insurance advice sector. As we go to press, just over half of those voting in our latest poll (52%) disagree they&#8217;re more optimistic about the future of life insurance advice than they were a year [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":68383,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49,270],"tags":[],"class_list":["post-68377","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-polls","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/68377","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=68377"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/68377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/68383"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=68377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=68377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=68377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}