Self-licensed advisers want peer-based learning

IOOF/advisers/self-licensed/

8 November 2017
| By Malavika |
image
image image
expand image

Self-licensed financial advice businesses wish to chart their own course but they also desire peer-based learning, according to IOOF.

A survey of self-licensed businesses in the IOOF Alliances network showed peer-based learning was especially desired to learn how solutions such as managed accounts, fintech engagement and family advice could be implemented to fulfil clients’ best interests.

IOOF Alliances national manager, Andy Marshall said self-licensed businesses wanted to hear how other businesses had successfully developed and articulated these solutions.

“Self-licensed businesses may be fiercely independent but they all strive for above-average client engagement scores and profitability, often achieving net promoter scores in the 90s,” Marshall said.

“Facilitating knowledge sharing amongst its member firms is one way that IOOF Alliances helps self-licensed businesses maintain these metrics in the face of changing customer profiles and increased regulatory requirements.”

The survey also showed advisers were seeking practical tools and expertise to gain efficiencies in advice delivery, compliance, and client engagement.

IOOF Alliances said it had recently launched new client engagement tools and templates that covered brand positioning, pricing methodologies, client psychology, and an end-to-end client experience assessment.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 3 days ago

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

1 month ago

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

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

3 days 13 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 6 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo