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Latest from the Blog
Accessible, professional, affordable Advice
Senator Jane Hume, Minister for Financial Services asked the question how does the profession provide accessible, professional and affordable advice? The Minister was speaking to Helen Dalley at the FPA’s Virtual Congress live Special Event (3/9/2020). To my mind the future of accessing affordable advice lies with the same business model for medical practitioners. After […]
FUM business acquisitions
When National Australia Bank (NAB) acquired MLC Limited in 2000 it paid $4.5 billion for the business. Twenty years later it has sold that business to IOOF for just $1.4 billion and, at the same time, has accepted continuing responsibility for the advice remediation and many of the other regulatory issues which flowed both before […]
Cost of financial advice
It’s in the client’s best interest that their financial adviser remains in business by charging a decent fee and make a decent profit, decently! Laws introduced by the Federal Government since 2001 have steadily increased the cost of advice to be more than $3,000 per client, per year*. The cost of AFS Licensing per adviser […]
