Banking on inertia post the Royal Commission

Although the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry is probably nowhere near its conclusion, it certainly has already had an impact on the public’s …

Why lazy customers could save you today but kill you tomorrow

In most businesses, customer apathy is not a good thing. If your customer is apathetic, they’re unlikely to feel loyal towards your business, let alone be an advocate for your …

The problem with picking winners – in the World Cup and in superannuation

As a football fan, the FIFA World Cup in Russia has so far been an extraordinary one. From a footballing point of view, it has been a fantastic event, with …

Have confidence: clients value your ongoing advice

The “fees for no service” failures uncovered by the Royal Commission were deeply disturbing. But equally concerning is a narrative that has arisen in the financial services community as a …

Six steps to rid your business of conflicted remuneration

Across the financial planning industry an estimated 10 per cent of all practice revenue is grandfathered conflicted remuneration. If this stream of income were to be turned off tomorrow it …

The advantages of a more agile research approach in fast-changing markets

In an environment where there has never been more information readily available to all, consumers and business decision makers alike must have quicker access than ever before to deep research …

10 Things Dover Advisers Have To Do Right Now

In the end, the demise of Dover Financial Advisers mirrored its founder’s appearance at the royal commission in March: a short period of intense scrutiny followed by a quick collapse. …

Chicken Little, ostriches and the real role of leaders

On June 4 and 5 the heads of leading financial planning licensees met in the Blue Mountains west of Sydney for the annual Professional Planner Licensee Summit. It’s fair to …

CoreData Announces The 2018 Australian Licensee Award Winners

CoreData Announces The 2018 Australian Licensee Award Winners Changes to adviser loyalty, satisfaction and needs have driven significant swings for some licensee’s in the Annual CoreData Licensee Survey – highlighting …

Home loan growth dives – has APRA gone too far?

The release of the latest Australian Prudential Regulation Authority (APRA) monthly banking statistics show annualised monthly growth in home loans has dropped to 2.25 per cent – the lowest growth …

Don’t Let The Royal Commission Do All The Talking

Well then. What a whirlwind the royal commission’s public hearings on financial advice were. Heads rolled – not least of all, the AMP chairman and CEO – and billions of …

A game-changer for ethics code-monitoring bodies

The Australian Securities and Investments Commission (ASIC) has proposed a change to the new financial adviser professional standards legislation to allow code monitoring bodies to proactively collect information from advisers …

Behavioural analytics at work

Getting a good grip on behavioural analytics can increase productivity and improve the service planners deliver to their clients. But you first need to know what you’re looking for, and …

The royal commission and the damage done

When the royal commission ends I will have a new job for Kenneth Hayne. I am going to pay him to record Australian poems for me to listen to. Not …

Time to end the never-ending superannuation debate

Like most people my age, I must admit that I spend many hours on social media, which is probably many hours more than I should. One viral post doing the …

The four biggest challenges for advice in industry super funds

If the royal commission recommends the separation of product and advice when it reports later this year, super funds providing intra-fund advice to members will be caught between contradictory regulatory …

How to stop ‘customer-centricity’ being a meaningless mantra – part one

The inescapable mantra across businesses (even government) today, is that the “customer” is at the core of what they do – the idea that “we live to serve”. While many …

The three pillars of a licensee’s ‘human response’ to restoring trust in advice

The royal commission inquiry into misconduct in the financial services industry is different from other inquiries the industry has been through and addressing the issues it has exposed will require …

Five reasons licensees must adapt to prosper

Calls for individual licensing of financial planners may have merit, and are certainly growing in volume, but they often overlook or undervalue the benefits of being authorised by a licensee …

How building a community enhances professional accountability

If there’s an upside to the public hearings of the Royal Commission into Misconduct in Banking, Superannuation and Financial Advice, then Futuro Financial Services managing director Paul Kelly says it …