AIA Australia holds first Adviser Summit
Historically, Australia’s financial advice industry has played a significant role in protecting the health and financial security of everyday Australians. However, several developments of recent years have created challenges for advisers seeking to do this important work. For both the sake of the industry’s health and the best interests of its clients, a broad range of stakeholders will need to start working closely together.
AIA Australia hosts The Adviser Summit 2021
As one of the country’s leading insurance specialists, AIA Australia (AIAA) works hard to foster a robust, unified and sustainable insurance industry. It was this vision that inspired AIAA to invite a range of industry representatives to its sponsored event, The Adviser Summit 2021.
Held over three days devoted to different themes (The Regulatory Outlook, Small Business Success and Personal Wellbeing and Resilience), the Summit aimed to get different stakeholders discussing matters usually reserved for conferences and board meetings.
In addition to financial advisers, attendees included government speakers, health and wellbeing researchers, regulatory and industry bodies, market research and business coaching firms, and members of AIAA’s Executive Committee.
The Australian Financial Advisers Wellbeing Report 2021
While advisers may be adept at protecting the health and financial security of their clients, little research has been done into the mental health and wellbeing of advisers themselves. In recognition of this, in 2020 AIAA sponsored Dr Adam Fraser and Deakin University to conduct the first national study into the mental health and wellbeing of Australia’s financial advisers.
As Dr Fraser outlined in his Summit presentation, the Australian Financial Advisers Wellbeing Report 2021 found high levels of stress to be common among a high proportion of advisers, and that these stressors were commonly linked to the new education standards and regulatory changes introduced in recent years.
Significantly, the survey also found that advisers’ stress levels didn’t affect their commitment to their clients. Nonetheless, the situation is clearly one that needs to be addressed.
AIA Vitality Wellbeing Check-in Program
In March 2021, AIAA partnered with wellbeing solutions company, Mindstar, to launch the AIA Vitality Wellbeing Check-in Program. This health support service gives AIAA Priority Protection customers who use AIA Vitality the opportunity to book two free confidential one-on-one consultations with a Mindstar qualified mental health professional.
In the spirit of helping advisers find their voice, AIAA extended this offer to all Summit attendees.
Looking forward to the Adviser Summit 2022
Attracting more than 600 attendees over the three-day event, the Adviser Summit 2021 was a resounding success, setting a precedent for industry advocacy and creating a space for advisers to have their voices heard.
We look forward to bringing you next year’s Adviser Summit, set to run from 1-3 March 2022, and encourage all advisers to keep an eye out for further communications.
Of course, much of the event’s success depends on adviser involvement, so please contact your AIA Australia Client Development Manager or Associate if there’s a particular topic you’d like to hear about or speaker you’d like to hear from.
Copyright © 2021 AIA Australia Limited (ABN 79 004 837 861 AFSL 230043). All rights reserved. This information is intended for financial advisers only and is not for wider distribution. This information is current at the date of distribution and is subject to change. This is general information in summary only, without taking into account the objectives, financial situation, needs or personal circumstances of any individual, and may not be exhaustive. It is not intended as financial, legal, medical, taxation or other advice.
AUTHOR
Partner Article
Recommended for you
Hybrid securities can offer investors equity-like returns, yet with a lower level of risk. Here’s a rundown on hybrids and why they are attractive investment options.
Diversified managed funds could make an ideal addition to a managed account, as the broad toolset available to the fund manager enables them to seek outperformance and manage risk, according to Allan Gray.
The number of advisers using managed accounts has exploded in recent years, often at the expense of diversified managed funds. But diversified funds deserve a place in almost any multi-asset portfolio, held either within or alongside a managed account, according to Allan Gray.
Over the years government regulations regarding financial advice delivery has increased complexity, compliance costs and time to deliver advice. As a result, financial advisers have been forced to “orphan” their less affluent clients.
