Practical AFSL compliance coaching, solutions and training for financial services licensees — Australia-wide
Originally published | 29th March 2018
Some habits are hard to break.
Being a financial adviser/planner (whichever term you want you use) means you are providing guidance and direction to your clients, not simply taking direction from them and placing products.
This seems to be the case mostly with life insurance advice when it appears that advisers are still uncomfortable in having the discussions with the client.
Originally published | 28th September 2018
“Always two there are, no more, no less. A master and an apprentice”
With these words comes the thoughts of the new era of professional advisers that is almost upon us.
The industry is in a spin about the new education standards, CPD standards and the competency exam that will need to be done.
All of these things, whether you like it or not, will benefit our industry in the long term as they improve the education standards of the industry.
Originally published | 1st October 2018
Is the remake of a classic ever as good as the original?
I love a good reboot, Hawaii Five-0, Magnum PI, Macgyver. These are all great because the originals have been brought into the current.
But some reboots haven’t really worked. Think about the reboot of Ghostbusters or The Fantastic Four, even Batman, the way DC continually reboots.
Originally Published | 30th October 2018
There are lots of questions being raised at the moment about the benefits of being licensed through an Australian Financial Services License or being self-licensed.
And when considering this I think that the easiest way I can explain the differences is as follows.
What is the difference between renting or owning a home?
Originally published | 03/02/2019
As the father of evolution theory, Charles Darwin once said that “It is not the strongest of the species that survives, not the most intelligent that survives. It is the one that is the most adaptable to change.”
If you have been in our industry for more than five minutes, I am sure you can relate to this.
Originally published | 06/02/2019
“Cry ‘Havoc!’ and let slip the dogs of war.” (William Shakespeare’s Julius Caesar). This quote was spoken by Mark Antony shortly after Caesar’s assassination in the William Shakespeare play, Julius Caesar.
If you believe the media, this seems to have been the outcome of the Royal Commission. We have Justice Hayne releasing his final report and then we have both the Government and the Opposition crying Havoc in response.
Originally published | 17/02/2019
It is interesting that over the last couple of weeks I have read the diatribes of advisers who are bemoaning the changes that will come about because of the Royal Commission. It is interesting that we have yet to fully hear from the Australian Financial Services Licensees (AFSL) that have been caught up in so much of the misconduct.
The reason why we haven’t heard from them, in my opinion, is because they don’t care. These AFSLs are vertically integrated so the advice component is not important to them. The only thing important to them is selling products. And this leads to unethical behaviour.
Originally published | 06/03/2019
If you love or have loved comics in the past you will understand the stories of the heroes and the vigilantes.
The heroes are generally those types that come in as soon as trouble happens and save the day whereas the vigilantes are patrolling the streets, generally in the shadows and are ready to pounce on trouble as it happens.
Originally published | 13/03/2019
One of the things that I am constantly discussing with advisers is how to formulate an advice document that meets the obligations of evidencing your recommendations are in the best interest of the client.
Originally published | 19/04/2019
We all know the saying; the definition of insanity is doing the same thing over and over again and expecting different results.
This is what it can be like in compliance teams around the country.