Platform switching paving a better way for clientsBY ANNE-MARIE ESLER | TUESDAY, 30 JAN 2024 3:33PM |
Latest News
Insignia chief draws 'hard line' on NCAs giving retirement advice
Insignia Financial chief executive Scott Hartley said he draws a hard line when it come to the new class of advisers (NCAs) giving retirement advice.
Entireti launches consulting program for AFSLs
Entireti has launched a new program to support self-licensed firms to design and execute strategic initiatives, while improving performance and competitiveness.
Private credit bodies issue investor protection guidelines
Australia's private credit industry has introduced new voluntary guidance aimed at strengthening lending practices, improving transparency and addressing regulatory concerns around investor protections.
Many advised Aussies feel financially worse off: Report
A new report reflects that despite being advised, almost four in 10 Australians (37%) found themselves in a worse financial position than a year before.
Further Reading
Cover Story
Advice with soul
SACHA BURCHGART
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
FOUNDER & MANAGING DIRECTOR
BURCHEART PTY LTD
Though she initially tried, Sacha Burchgart couldn't escape the call of a career in financial advice; it just took staring down her own mortality to see what's possible when you do things differently. Jamie Williamson writes.
Expert Feed
What people really want when they say 'financial freedom'
APT Wealth Partners highlights the importance of distinguishing the unique financial freedom desires of each client.
Private markets in Australian wealth management: Impressively diverse and a positive outlook
Australian wealth managers' appetite for private markets is growing as increased product varieties and better access continue to drive adoption.
Are weight-loss jabs creating a new advice opportunity?
Clients who lose weight and improve their health often overlook how the change impacts their retirement dynamics and insurance policies.
How technology is turning tax complexity into client clarity
What used to be a relatively simple back-of-the-envelope calculation is now much more challenging, Morningstar says.
After my own sale of advice business and retirement I worked for a colleague on shifting hundreds of substantial clients to identical portfolios on a much lower cost platform. The saving to the clients was in the order of $700 a year each.
I worked out a way to generate accurate comparisons and embed them in standard letters and accompanying SOAs to send to clients and invite them to just sign and return if all clear or ring my colleague or make a time to come and see him.
Initially my colleague was expecting me to be there three days a week for 18 months, sitting in on client meetings then generating the resulting paperwork. As I laboured through the first few and the different software etc. it looked like I was not getting there. Then the system fell into place, easily done by permanent secretarial staff and I did myself out of a year's highly paid work.