Powered by MOMENTUM MEDIA
moneymanagement logo
 
 

Finding efficiencies essential to post LIF advice

LIF/risk/life/adviser/

23 February 2016
| By Nicholas |
image
image image
expand image

Advisers are being urged to find efficiencies in their businesses before the impact of the Life Insurance Framework (LIF) impacts their revenue, Synchron director, Don Trapnell, believes.

Trapnell said that "no matter how many ways you slice and dice it, life insurance advisers will be suffering from 1 July", as they feel the effects of the LIF.

Responding to the needs of advisers, Trapnell said Synchron had developed two systems to help advisers work more efficiently.

"For this reason, we recently launched SyncAdvsr, a new software package designed to reduce the amount of work advisers have to do to maintain their business," he said.

"We also introduced a referral arrangement with AdvantEdge Financial Services which allows Synchron advisers to refer finance broking to an AdvantEdge licensed adviser and be paid for that referral.

"We know that at any point in time, one in seven consumers is reconsidering their mortgage and finance arrangements. We believe it is appropriate that Synchron advisers be afforded the opportunity to satisfy that need by referring clients on to a licensed finance broker and be remunerated for it.

"The arrangement with AdvantEdge will facilitate that."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

3 weeks ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

4 weeks ago

So we are now underwriting criminal scams?...

7 months ago

After last month’s surprise hold, the Reserve Bank of Australia has announced its latest interest rate decision....

3 weeks 2 days ago

WT Financial’s Keith Cullen is eager for its Hubco initiative to see advice firms under its licence trade at multiples which are catching up to those UK and US financial ...

3 weeks 6 days ago

While the profession continues to see consolidation at the top, Adviser Ratings has compared the business models of Insignia and Entireti and how they are shaping the pro...

1 week 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND