Centrepoint introduces fee model for part-time advisers

fees/advice/advisers/financial-advisers/

27 April 2021
| By Mike |
image
image image
expand image

The competition between licensees to attract good financial advisers amid continuing the continuing adviser exits is heating up with Centrepoint Alliance announcing a new fee structure aimed at attracting those who choose to work part-time.

Flagging the move as breaking new ground, Centrepoint group executive advice, Paul Cullen, pointed to recent Roy Morgan research showing part-time work is a growing trend notwithstanding the fact that financial advice has not traditionally been viewed as a part-time profession.

He said financial advice was no different to any other occupation and that advisers should be entitled to be supported by their licensee if they required flexible work arrangement to balance work and family commitments.

Cullen said he had noted increased demand for part-time opportunities within the advice sector in recent years, particularly with respect to working parents and those with carer responsibilities.

The new Centrepoint fee model is available to financial advice firms with more than one authorised representative with variable costs including governance and research queries along with technical and compliance support being pro-rated according to the number of days worked.

As well, the planning group is offering advisers taking maternity or paternity leave the ability to suspend fees for up to 12 months or pay a reduced fee if they wish to retain access to masterclasses and webinars and to complete their continuing professional development requirements.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 5 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 1 day ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

2 days 21 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5