Nobody can deny it’s been a massive year for financial services - and in particular the financial advice industry. Never before has the industry seen so much scrutiny and regulation change.
Over the past year we have delivered updates and plain language explanations on regulation, ASIC reforms, and Royal Commission outtakes - and they have consistently ranked at the top of our performance charts as most engaged with and clicked on articles.
This demand, and your direct feedback, has led us to develop further tools and insights to give advisers exactly what they deserve - timely, insightful information to assist in your thinking and implementation of regulation into your practice.
The first of these tools is our new white paper series, launched this week, titled Tomorrow’s Advice.
Part one explores the issue of transparency, and a guide to various pieces of legislation that require advisers to tailor their advice process to be as transparent as possible. There are many long term benefits to these pieces of legislation and regulation - they do however, mean that advisers will in many cases need to overhaul their processes again.
We won’t stop there. We will continue to explain in plain language the changes coming from the Royal Commission, and ask leading experts from around the industry to help explore how best they be implemented. We will also continue to advocate what great advice can do for people via our work with the mainstream media and live events.
We believe advisers are one of the biggest solutions to a looming crisis - an economic tsunami that will see up to 80% of Generation X fall short of a comfortable retirement. If we can help you transition your business through these times of extreme change, and continue to provide you with insight, tools and peer learning, we can make sure you thrive, and in turn are able to continue to give advice to thousands of Australians.
We often get people writing in asking us to recommend advisers to them. While it’s impossible as an independent education platform to make specific recommendations to advice firms, we do educate people as to what to look for in a quality adviser. Transparency is a key part of trusting the advice you receive.
Until next time
The opinions expressed in this content are those of the author shown, and do not necessarily represent those of No More Practice Education Pty Ltd or its related entities. All content is intended for a professional financial adviser audience only and does not constitute financial advice. To view our full terms and conditions, click here.
Every day I talk to people in our industry who are under intense pressur....