Orphan clients evolving into a consumer crisisBY PAUL TYNAN | THURSDAY, 16 FEB 2023 9:26PM The financial services industry dilemma of having sufficient resources and advice practitioners to service the needs of orphan customers is not a new story, it's a crisis ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Adviser fakes exam certificate, cops ASIC ban
ASIC has slapped a permanent ban on a financial adviser who doctored her exam certificate and continued to provide advice without the proper qualifications.
Sequoia chief's job at stake in upcoming EGM
Sequoia Financial Group will hold an Extraordinary General Meeting (EGM) in June that will consider a resolution to remove chief executive and managing director Garry Crole.
Goldman Sachs ditches robo-adviser Marcus Invest
The investment bank is offloading Marcus Invest to Betterment just three years after announcing it will launch the digital adviser.
Fortnum, PFS launch parent company
Fortnum Private Wealth and its newly acquired advice business Professional Financial Services (PFS) will operate under a newly launched parent company brand, Entireti.
Cover Story
Passing the baton
LIAM ROCHE
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
Liam Roche's experience in customer relationships and paraplanning has set him up for success as a financial adviser. Now undertaking the Professional Year, the advice associate at Eureka Whittaker Macnaught tells Karren Vergara how a new breed of advisers is flying the flag.
Expert Feed
Five steps to drive high performance in advice firms
Australian financial advice firms have dealt with major industry reforms over recent years, and now encounter a shifting economic environment.
Solving the advice gap challenge
In today's evolving technology landscape, there is rapidly growing interest in leveraging digital solutions to address the various challenges, particularly ...
Engage: How to create enduring client relationships
The not-so-secret sauce of enduring client relationships is an effective and engaging onboarding process. Do it well and you will likely have clients ...
Financial control
The term financial control generally evokes a weaker party being controlled by a stronger one. This might be in a relationship where one partner controls ...
Perfectly explained.
Wow Paul, great read...thank you.
Unfortunately the industry failed themselves when the opportunity to stand up presented itself.
The abolition of commissions in the FP industry whilst maintaining them for mortgage brokers makes absolutely no sense, the only difference being that the mortgage broking industry stood up and fought for their industry.
Whilst Financial Planners and their pathetic associations (FPA particularly) just gave up.
And now as you highlight all the unintended consequences are playing out with the end consumer the ultimate loser.
Great article. So much harm done to a valuable service industry & so many people now unable to afford much needed advice. I am one of the Financial Planners who decided to leave after 20 years - a very tough decision.
great article Paul
Well explained. Such a shame common sense has never been applied to financial planning regulation!
What a pity you weren't part of the debacle called the Hayne RC...or the QAR.