Centrepoint introduces fee model for part-time advisers
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.
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