Same old, same old. You guys just don't want anything to change. You don't/won't/can't acknowledge there is a problem and don't/won't/can't see that life products are just another product. Stop playing the victims and move on.
Private health insurance products are complicated, expensive and important yet how many of you sell these to your clients or provide any input on them at all. The number advising on home and contents insurance is going to be very similar. If you don't think those examples are relevant, I'd suggest they are as this is where life products are going to end up too.
The value is in your advice and service, not the product, yet you insist on being paid for the product. That approach worked well for stockbrokers until clients found out they didn't need them to access the product. Clients go direct on private health insurance because they don't need you and the same for home and contents. How long until they realise they don't need you for life products either?
The argument that client won't pay is promoted by those too scared to try and/or with a vested interest in nothing changing. Plenty of advisers do charge a fee and clearly plenty of their clients are happy to pay it.
15-20 years ago no one would pay for financial planning advice. Now its standard practice and the fees aren't trivial. Some advisers moved to fees voluntarily, some had to be pushed. I get the feeling many on here will need to be pushed.
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