CPD: Togetherness drives us apart – rethinking estate planning in a COVID 19 world

From

COVID 19 has certainly brought families together. Massive job losses, mandatory working from home, and ongoing lockdowns and border closures mean Australians are spending more time together – and at home – than ever before. The composition of those households is also being reshaped across the country, as an estimated 300,000 adult children move back... Read more

CPD: The $71,000 email and the art and science of client retention

From

When 5 becomes 95 Client retention is regarded by many as the cornerstone of a successful, sustainable advice practice. And with good reason(s). The Harvard Business Review[1] tells us the cost of acquiring new customers is at least 5 times more expensive than keep existing ones. Furthermore, research by Bain and Company[2] (founders of the... Read more

CPD: Selling sprouts – 5 financial advice marketing tips that no one has told you about

From

Enter the phrase ‘financial advice marketing tips’ into Google and there’s a high chance you’ll be bombarded with a plethora of ideas on how to design your website, improve your search engine rankings, and run a social media strategy. But whilst there is undoubted value in giving attention to all these areas, making them a... Read more

CPD: The airline food enigma – The way clients think, and how 9 out of 10 advisers respond

From

The world depicted in many economics textbooks is populated by completely informed consumers who value choice and make perfectly rational decisions. Such a world is, of course, mythical. In the real world, decisions are an outcome of a complex interplay between our thinking styles and the way information is ‘framed’ or presented to us. The... Read more

CPD: What doesn’t kill us makes us poorer – the cost of care in Australia

From

Life, looking good in the ‘lucky country’? As the self-proclaimed ‘lucky country’, Australia’s impressive achievements across sport, science, and cultural pursuits, are often out of proportion to our modest size. Happily, another area where we ‘punch above our weight’ is in life expectancy, where Australia ranks amongst the best in the world. Since the very... Read more

CPD: Life Insurance 2030 – the products of the future

From

Introduction Competitive forces within the Australian life insurance market have long underpinned a strong culture of innovation amongst insurers. Recognising an imperative to improve the way customers and financial advisers access – and engage with – life insurance, the last decade has seen extensive insurer investment across areas such as process automation, data analytics, and... Read more

CPD: Claims Advocacy – from ‘value add’ to core advice offering

From

Introduction Compounding the impact of ongoing licensee consolidation and new professional development requirements, the LIF driven reshaping of adviser remuneration for life insurance advice – in the form of lower up-front commissions and higher renewal commissions – has left many advisers no choice but to rethink, and, in many cases, fine tune their business models.... Read more

CPD: Five steps to client engagement in times of crisis – part two

From

Uncertain times generally mean anxious clients. The double whammy of a health and financial crisis means the need for you to connect with clients is more important than ever, but comes at a time when face to face communication is not possible. The first part of this article, sponsored by Zurich Australia, examined the first... Read more

CPD: Five steps to client engagement in times of crisis – part one

From

The word unprecedented has been used with increasing regularity in 2020. We started the year in the middle of an unprecedented bushfire season that continued in its ferocity. The COVID-19 virus, which initially ravaged parts of China, is now a global pandemic. At a time when there’s an increasing (in fact, unprecedented) need for you... Read more

CPD: Health and wellness in advice – powering better financial and lifestyle outcomes for your clients

From

Introduction The topic of ‘wellness’ (or ‘wellbeing’) is one of increasing relevance to employers, product manufacturers, and – crucially – financial advisers. On one level this is because advisers should be always be mindful of major societal trends and evolve their service offering accordingly; but more importantly, because wellness can be one of the biggest... Read more