by Jim Stackpool | Oct 20, 2024 | Advice is not a Product, Advice Products, advisers v distributors, AI, Best Interests, Conflict of Interest, Future of Financial Advice, Hayne Royal Commission, LIfe Choices, Separation of advice from product, Serve the Greater Good, Value of Advice, Value Proposition
$88 Advice? Welcome to the future. Financial providers are releasing new advice offerings in response to the first tranche of the Delivering Better Financial Outcomes legislation. An annual $88 will give Colonial First State (sorry, firewalled) superannuation members...
by Jim Stackpool | Aug 24, 2023 | Advice Conversations, Advice is not a Product, advisers v distributors, Brand Development, Client Offerings, Conflict of Interest, Consequences, future of advice, Future of Financial Advice, Goals, Hayne Royal Commission, Leadership, Public Good, Quality Advice, Royal Commission, Serve the Greater Good, Value Proposition
Every August, I spend an evening at my old school answering questions from Year 11 students as they share their post-school career options. My sessions are generally Q&A events for kids interested in small businesses. Last week’s questions ranged from what...
by Jim Stackpool | Jul 27, 2023 | Advice is not a Product, advisers v distributors, Brand Development, Conflict of Interest, Consequences, future of advice, Future of Financial Advice, Hayne Royal Commission, Leadership, Public Good, Quality Advice, Royal Commission, Serve the Greater Good
The problem with super is super. Since the 2002 Financial Services Review, there have been at least a dozen enquiries, commissions and reviews into Australia’s superannuation, insurance, investment, and financial services industries. Last week APRA and ASIC jointly...
by Jim Stackpool | May 4, 2023 | Advice is not a Product, advisers v distributors, Conflict of Interest, Corporations Act, Future of Financial Advice, Hayne Royal Commission, Leadership
If plumbers need new pipes, and if the cobbler’s kids need new shoes, does it follow that a lawyer needs new laws? Maybe. Michelle Levy’s three-page plea to the government to adopt her Quality of Advice Review recommendations in this week’s AFR is a...
by Jim Stackpool | Feb 16, 2023 | Advice is not a Product, FSC, Future of Financial Advice, Hayne Royal Commission, Leadership, Separation of advice from product
There’s good and bad in the Quality of Advice Review (QAR) released by Treasury last week. The good is the proposed framework for the delivery of affordable financial products. For Australians less interested in advice and more focused on making simple purchases, the...
by Jim Stackpool | Nov 10, 2022 | Advice is not a Product, Advice Products, advice skills, advisers v distributors, Best Interests, best practice, Consultative Approach, Delivering Value, future of advice, Hayne Royal Commission, Leadership, Professionalism, Quality Advice, Value of Advice, Value Proposition
Do you ask your doctor what her fees will be next year? No, neither do I. Why do clients ask what the future ongoing fees will be for their financial advisers? Because, unlike doctors, they pay ongoing rent to their advisers. Is that typical of professionals?...
