The proposed death of ‘independents’ thanks to tough markets, tighter legislation (e.g. opt-in, dealer group overrides) and growth plans of the majors is all based on old thinking.
We’ve got to get over the old days!
Those predicting the death of great, independent advice from great advisers aren’t getting out enough.
They are stuck in the world back when everyone smoked and coffee was instant!
There are scores of great independently minded 30-something advisers (and older advisers with ‘young’ thinking) who want to build a business, not build their egos, that will make a real impression on their ideal clients who will pay for quality advice, not quantity of product, and will NEVER link up with a product provider and follow the franchised offering.
The franchise model of advice is a valuable component of the future, but not the only component. Not everyone eats regularly at franchises.
Forecasting the demise of the independent adviser due to FOFA is similar to forecasting the demise of advice due to MySuper when exactly the opposite will be true.
What do you reckon?
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