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If any advisers think that the large product providers and platforms are not making a play for your clients loyalty right now, then think again. They well and truly believe the clients are shared between the 2 parties and they are making very obvious moves to directly market to them on a regular basis to ensure the client sees their brand many more times than they may see your own.
They are suggesting to clients to contact them directly to request a rebate of commissions and fees, cancel insurance they may not need and to consider their more contemporary product range.
This is all about the client associating first with the platform and second with the adviser and eventually it is a play to eliminate the adviser and have a direct client relationship and increase profit .
It is obvious, it is devious and it is manipulative.....and it's about winning the client's loyalty and controlling the game.
For these superannuation platforms, the reason being used is Trustee responsibility to act in the best interest of their members. This means they could do almost anything if they could justify a potential member benefit as a result.
This is like Coles and Woolworths and the corner store...look out and be vigilant because they want your client to be their client.