Sue Viskovic

Top advice firms display operational maturity, which is evidenced by ten essential characteristics, leading to EBIT margins of 35-40 per cent and employee and client satisfaction scores of 90+ per cent, according to a new paper produced by Vital Business Partners (VBP), in partnership with Zurich Financial Services Australia (Zurich).

Titled, Optimum Operating Models for Advice Firms, the paper examines how advice firms are redesigning their operations and leveraging AI and automation to address key challenges, namely the requirement to do more with less, due to declining adviser numbers, mounting compliance requirements and rising client expectations.

Leveraging VBP’s experience working with advice businesses of all sizes, the report details the ten foundational building blocks of a high-performance operating model, including clarity of roles, documented processes and measurable service standards, backed by “leadership that leans in”.

According to Sue Viskovic, Head of Consulting at VBP, efficiency alone is no longer enough to guarantee success.

It is how a firm is structured, including its organisational design, team architecture and operational model, that determines its ability to consistently deliver high quality advice and client outcomes at scale.

“The firms that thrive are those that combine structure, systems and leadership to create businesses that are both scalable and sustainable,” Viskovic said.

“At their core, they’re also client obsessed. Client service is cultural not positional, and everyone in the firm, from the front line to back office, shares responsibility for delivering an excellent client experience.”

In addition to qualitative attributes, the VBP report also provides eight quantitative metrics to help readers define a high-performance advice firm and benchmark their own performance.

These factors include EBIT margins of circa 35-40 per cent, high employee and client advocacy, revenue of around $1 million per annum per licensed adviser, and an employee cost ratio of 45 per cent or less.

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Michael Pillemer

Specialist risk insurer PPS Mutual has launched the inaugural 2026 PPS Mutual Risk Practice of the Year Award. This landmark award celebrates excellence in risk advice nationwide.

The award will spotlight advice practices that generate greater than 50% of their annual new business revenue from life insurance-related advice. Entrants will be assessed across five core pillars: customer excellence, commercial strategy, continuous improvement, cultural strength, and industry contribution.

Michael Pillemer, CEO of PPS Mutual, said the award comes at a pivotal moment for the profession: “The life insurance industry has endured an unprecedented wave of regulatory change, rising compliance obligations, and increasing operational pressures. Delivering quality risk advice is now more complex and challenging than ever. Yet advisers remain central to protecting Australians’ financial futures.

“Risk advice is the bedrock of financial security for millions of people – but it is also one of the most underappreciated parts of our industry. Through this award, we want to recognise those advice practices that are excelling under pressure, setting new standards, and helping to build a stronger, more sustainable future for life insurance in Australia. Importantly, this award isn’t just about recognition – it’s about empowerment. By elevating the winner’s profile and growth potential, we’re investing back into the advice community we serve exclusively.”

The winner will be announced ahead of the Riskinfocus 26 Risk Advice CPD Tour, Australia’s premier life insurance professional development event. As part of their prize, the winning practice will take part in Q&A sessions at each of the six Riskinfocus 26 events nationwide, sharing their philosophy and insights with peers across the country. Their travel and accommodation will be included, along with a complimentary table of eight at their hometown Riskinfocus 26 event.

To further support business growth, the winner will also receive a strategic marketing tailored prize package including:

• A technical SEO review and growth report from Jaywing, a data-driven digital agency specialising in SEO, analytics, and performance marketing, to improve online visibility and business performance.
• Eight custom social media posts and a complimentary graphic design package to promote their service offering.
• A media release developed and distributed by Madden & Assoc., a Sydney-based specialist communications firm focused exclusively on financial services.

The judging panel features some of the most respected leaders in the life insurance and advice sector, including:

• Angus Woods, Managing Director of Adviser Ratings
• Sue Laing, Technical Director at The Risk Store Consulting
• Peter Sobels, Publisher of Riskinfo
• Marc Fabris, Digital Consultant and Founder of Risk Hub
• Sue Viskovic, Head of Consulting at Vital Business Partners

Applications are now open and close on 27 October 2025.

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With the goal of recognising individual financial advisers and advice businesses for their work with clients, aged care initiatives, and general excellence in the area, Aged Care Steps (ACS) is expecting an even greater nomination pool this year.

“We’ve loved being able to put a spotlight on the growing field of aged care advice, especially being able to celebrate the amazing advisers and businesses that operate in our industry and lead the way in having a positive impact on their clients” said Louise Biti, Director – Aged Care Steps.

2025 sees two categories available for nomination – one for individual advisers and one for advice businesses. Advisers are able to self-nominate or put forward colleagues or fellow advisers. This year’s categories are:

• Aged Care Adviser of the Year
• Aged Care Advice Initiative of the Year

The ‘Aged Care Adviser of the Year’ award recognises and celebrates financial advisers who have successfully incorporated aged care advice into their advice propositions to support older Australians and their families.

“Professionally, this is a very special award to win. To be recognised by my peers is validation of the work I’m doing in delivering quality aged care advice. And personally, the award also acknowledges all the hard work I’ve put into aged care advice over the years. It’s wonderful recognition for the work I truly love doing.”
Katie Spence, Sage Care Advice, 2024 Winner, Aged Care Adviser of the Year

The ‘Aged Care Advice Initiative of the Year’ category (formerly known as the ‘Aged Care Advice Program of the Year’) will once again spotlight a financial services business that is creating and undertaking aged care advice initiatives that advocate for and promote aged care advice to their clients or wider community.

Previous award winners have been acknowledged for their tailored programs, advocacy, and strong leadership and promotion of the importance of aged care advice.

“We’re incredibly proud that our Ageing with Grace Support Service has been recognised by our peers by taking out the 2024 Aged Care Advice Program of the Year Award. This award means so much to us, because it reflects what we care about most – supporting families through the challenges of aged care with compassion, clarity, and confidence.”
Kara Treeby CFP^®, Story Wealth Management, 2024 Winner, Aged Care Advice Program of the Year

Applications are now open

Applications will be reviewed and assessed by our external panel of respected professionals.

Phil Anderson (GM Policy, Advocacy & Standards at FAAA) and Sue Viskovic (Founder of Elixir Consulting) are returning for their third year as judges, and Andrew Inwood (Founder of CoreData Group) is joining this year’s panel for a second time.

Full details of the Awards and the nomination and application processes are available here.

The 2025 applications close on Friday, 26 September at 6pm AEST.

In a year when aged care is set to become more expensive and more complicated, with the introduction of the new Aged Care Act and fee changes, highlighting and promoting advice excellence is more important than ever.

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The ACS Aged Care Adviser of the Year Awards recognise and champion the work done by exceptional aged care advisers across the country, helping people navigate the increasingly complex landscape that is aged care planning.

“We are very proud to announce the winners of the 2024 ACS Aged Care Adviser of the Year Awards”, said Assyat David, Director of Aged Care Steps.

“The exceptional quality of submissions that we received is a testament to the passion, talent and dedication within the aged care advice industry and proof of the tangible difference aged care advisers are making in their clients’ lives. Congratulations to all the finalists and winners – your work exemplifies the very best in aged care advice.”

2024 Winners

This year’s judging panel included Phil Anderson, FAAA, Sue Viskovic, Elixir Consulting and Andrew Inwood, CoreData Group, who have selected the winning advisers under three categories:

• Aged Care Adviser of the Year
• Aged Care Advice Program of the Year
• Aged Care Advice Excellence Award

Aged Care Adviser of the Year Winner – Katie Spence

Katie Spence has been recognised for her work simplifying and effectively communicating the concept of aged care financial advice to clients and their families, ensuring they’re able to understand their options and plan appropriately. She has been recognised as an exemplary Adviser by her clients, who have built a strong referral network in acknowledgement of her work with each of them and the effect she has on their peace of mind as they plan for their own future or that of their loved ones.

Aged Care Advice Program of the Year Winner – Story Wealth Management

In 2024, Story Wealth Management launched their specialised program, the ‘Ageing with Grace Support Service’, designed to address and support the financial, logistical, and emotional challenges faced by seniors and their families through a financial advice lens.
With the program’s mission of meeting the growing demand for aged care advice in their client base and wider community, they have already had great success, and established partnerships with local Care Coordinators, elder law specialists, and service providers.

Aged Care Advice Excellence Award Winner – Zachary Dodds

The Judges of this years’ awards have chosen to recognise an additional Financial Adviser for the excellence demonstrated through his nomination. As well as growing his impact on clients in the past year, Zac was a key organiser in the newly-established Aged Care Expo held in Geelong, bringing together a range of specialist providers and educators to provide quality information for the community.

Zac was also instrumental in Muirfield’s participation in Seniors Week and a number of seminars and workshops, allowing clients and the wider community to self-educate on the importance of aged care financial advice before making the next step of speaking to a qualified adviser to create a tailored plan.

A great year for aged care financial advice

As evidenced by this year’s winners and finalists, the aged care financial advice sector is home to a range of exceptional financial advisers who are also business leaders and community advocates. Aged Care Steps is proud to be able to acknowledge and celebrate the successes of the leaders in this field and support them in their shared goals of helping Australians access high-quality aged care financial advice.

In the current environment where aged care advice decisions are becoming more complex and fees are increasing, it is important for older Australians and their families to have access to quality aged care advice from licensed financial advisers who demonstrate advice excellence as well as passion, empathy and commitment.

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Now entering its third year, the awards continue to recognise the amazing work of Australian financial advisers in the ever-growing field of aged care advice.

“These awards play an important role in drawing attention to and celebrating excellence in aged care advice. As individuals seek out financial planners to plan their retirement, we want them to know they are collaborating with some of Australia’s best advisers, recognised for their significant influence on the industry and their clients’ well-being,” said Louise Biti, Director of Aged Care Steps.

“We’re delighted to announce the 2024 finalists for both the Aged Care Adviser of the Year and the Aged Care Advice Program of the year and congratulate them all on this achievement,” continued Biti.

Advisers have been nominated under two categories:

• Aged Care Adviser of the Year
• Aged Care Advice Program of the Year

‘Aged Care Adviser of the Year’ recognises an individual adviser who is deemed to have demonstrated outstanding professional commitment in providing aged care advice to older Australians and their families.

The ‘Aged Care Advice Program of the Year’ category recognises an Australian adviser or financial services business that has actively advocated the promotion of aged care advice amongst their client base, referral networks, peers, or local community.

The 2024 awards were reviewed and assessed by an external panel of respected professionals comprising Phil Anderson, Sue Viskovic, and Andrew Inwood. The judges recognised the exceptional quality and calibre of the submissions and were also impressed by the volume of submissions received this year.

The 2024 Finalists are (in alphabetical order by first name):

• Aged Care Adviser of the Year
  • Belinda Veriton – RFS Advice
  • Brenda Will   Bruining Partners
  • Craig Phillips – Phillips Wealth Partners
  • Dean Winfield  – Planrite Advice Group
  • Joe Formica   Progressive Financial Solutions
  • Katie Spence – Sage Care Advice
  • Robyn Clelland  – Corso Provate Wealth (Nanna’s Planners)
  • Robyn Clelland – Muifield Financial Services

• Aged Care Advice Program of the Year
  • Alteris Financial Group
  • Muirfield Financial Services
  • Phillips Wealth Partners
  • Story Wealth Management

Aged Care Steps will be announcing the winners of the awards on 21 November 2024.

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Bryce Quirk

Colonial First State (CFS) today announces the launch of CFS 10X, a new offering designed to help ambitious financial advice practices grow their business.

CFS 10X will deliver a series of dedicated events and webinars as part of its ongoing commitment to the advice community.

Commenting on the launch, CFS Group Executive Distribution Bryce Quirk said CFS 10X will give advisers access to the right education, expertise, community, and opportunities to see them achieve their goals.

“This year CFS will be using both research and practice case studies into the key drivers of business growth to help advisers unlock opportunities. Driving efficiency, achieving scale and expanding your tech capabilities are just some of the areas CFS 10X will be exploring with practices this year,” Mr Quirk said.

CFS 10X is comprised of four key pillars: Your Business, Your People, Your Clients and Your Expertise. A full schedule of national events and webinars will be supplemented by masterclasses from leading experts.

“We know that advisers are looking for practical solutions when it comes to people management and developing a high-performance team,” Mr Quirk said.

“We also know that practices are eager to understand how they can automate their processes to unlock efficiencies and provide even better service to more clients,” he said.

“This is why one of the first events we’ll be launching through CFS 10X will give advisers access to peer benchmarking, insights and solutions from an industry-wide research study into practice management and productivity,” he said.

In partnership with CFS 10X, Elixir Consulting recently conducted a national research study to discover what’s working well and what’s holding some firms back from reaching their true potential.

With a focus on back-office operations that impact business effectiveness and client experience, the research creates industry benchmarks and solutions to help practices break through efficiency barriers, understand effective ways to structure teams and design sustainable business models.

Elixir Consulting founder and managing director Sue Viskovic will unpack the research in a national webinar on 28 February.

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Sue Viskovic

VBP has created three new roles in its leadership team to assist the firm’s continued expansion in the financial advice industry.

The appointments follow VBP’s recent acquisition of specialist financial planning consulting and coaching firm Elixir Consulting.

Amanda Yun joins VBP as chief growth officer and Shaun Nesbitt has been appointed chief information and digital officer. In addition, Elixir founder Sue Viskovic will become VBP’s general manager consulting.

David Carney, VBP’s chief executive officer, says the appointments as well as the acquisition will help take VBP’s evolution to the next level.

“We are significantly expanding our service offering to continue supporting our clients with their growth at a time of continuing change in the financial planning landscape.

“VBP has a 10-year track record of providing this support and with the addition of Amanda and Shaun to the business, as well as the expertise of the Elixir team, we have significantly deepened the level of assistance we can provide,” he says.

He added that the combined business of VBP and Elixir will position the business as the ‘go to’ growth partner for advice firms looking to innovate and scale.

“Harnessing the experience of Elixir and boosting it with the scale and expertise of VBP means we are better positioned to provide the specialist support and assistance that advice practices need.

“VBP now has the resources to deploy a bespoke team on a project basis to assist clients in executing the priority projects from their strategic planning, and to take full advantage of opportunities in the current environment.

“Over the next year, VBP will focus on helping firms innovate by investing in intelligent automation solutions, cyber and governance security as well as new coaching programs.”

VBP has also recently rebranded from Virtual Business Partners to Vital Business Partners, reflecting its role within the financial advice community and its 10 year track record.

Mr Carney says that while the business will still be widely known as VBP, it was important to make the subtle name change to Vital Business Partners.

“The new name is more reflective of our future direction and desire to be a vital partner in our clients’ future success. Dropping the word Virtual allows us to move away from a traditional outsourcing business and recognises the human connections that are very much the core of each and every client relationship.”

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Sue Viskovic

AMP has boosted its Life Insurance Framework (LIF) resource hub with the launch of a new video tutorial series and practice diagnostic tool to assist advisers in assessing and managing their LIF readiness.

The video tutorial series, developed in conjunction with independent advice expert Sue Viskovic, features eight tutorials focused on practice management and aims to help advisers work through considerations from pricing and revenue models, to target market and value propositions.

The new diagnostic tool, which is now available to EFA’s, follows the release of an aligned adviser version, and helps advisers uncover areas of their business that may need attention. It also provides an action plan to prepare their practice.

AMP’s Director Insurance Proposition Greg Johnson said advisers are managing through a period of significant change and they’ve worked hard to identify how their businesses will be impacted by the legislation taking effect from 1 January 2018.

“The enhancements to the LIF hub will provide advisers with further tools and support to help them get across the line in transitioning their business into the new environment,” Mr Johnson said.

Enhancements to the LIF resource hub follow a range of LIF readiness activities, with licensee support including webinar training, master classes and specialist training for practice staff.

AMP LIF Resource Hub: https://www.amp.com.au/advisersupport/lif

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Sue Viskovic

Like anyone that has nurtured and worked tirelessly to produce an in-depth research report, yesterday’s announcement of the launch of the Adviser Pricing Models 4^th Edition Research Report puts to bed one of the most extensive research reports conducted by Elixir Consulting to date and provides a sense of relief to principal Sue Viskovic.

“This has been a mammoth task consolidating and analysing the data to produce the Adviser Pricing Models Research Report fourth edition. It includes in-depth data from 320 advice practices on how they charge for their services.” stated Mrs. Viskovic, “Pricing financial advice has always been complex, and when you add in a deep-dive to pricing insurance advice, with all of the variables we found used by advisers, it’s been no small feat to interpret the data into a piece of work that will be incredibly helpful for every adviser wanting to determine or refine their own pricing model.”

The research provides insights and the models being used and figures being charged, for pricing:

• insurance advice
• engagement fees for new clients with comprehensive and limited scope advice,
• engagement fees for aged care, estate planning, finance advice
• ongoing fees – for comprehensive and limited scope advice
• specific application of fee models in 6 client case studies, and
• complete snapshots of 6 different Business Models

“If you’d told me a decade ago that we’d now be In an environment where every adviser has to charge a fee for their financial advice, and yet there is more confusion and curiosity about pricing models than ever, I’d have probably laughed” shared Mrs Viskovic. “Whilst pricing is often talked about, the intricate detail of how advisers charge for their services is still elusive to most; today it remains a very private and commercially sensitive topic.”

“I want to say thank you to all those advisers that took time out to complete the research survey,” says Sue, “you were incredibly generous in sharing your pricing detail, your challenges, and the solutions you’ve found to overcome them. By doing so you have provided great insight into the depth and breadth of the pricing models used in the Australian Market.”

The Pricing Model Research Report 4^th Edition is now available for online purchase.

To highlight some of the take-outs from the research Sue Viskovic and co-author Lana Clark will be publishing a short series of videos of their discoveries during the countless hours preparing the data and compiling the research report.

“When we decided to expand on the questions we posed to advisers in this latest edition, we never dreamed that the responses would be so complex and detailed” states Ms. Clark, “Respondents have been so generous with the information, making this report this biggest and most in-depth to date.”

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Sue Viskovic

One of the biggest disruptors facing advisers who provide risk insurance advice is the Life Insurance Framework. This proposed legislation has disturbed a great number of advisers and cast light on the fact that pricing risk advice services is complicated, and the current commission model that has been the foundation of advice businesses for decades is under threat.

Sue Viskovic, Managing Director of Elixir Consulting is the pre-eminent expert in pricing financial advice, with over a decade of experience in coaching advisers and researching adviser pricing models across Australia. For the past two years, Sue has turned her lens on the specific challenge of pricing insurance advice with the intent to inform and empower advisers to successfully deliver an incredibly valuable risk service proposition and continue to build a profitable business.

This book reveals a step-by-step process you can follow to value and price your services and build a profitable business advising clients on their personal risk needs, with or without commissions. Written for anyone who provides advice on risk insurance, including both specialist risk advisers and financial advisers it includes adviser case studies to provide clarity and some great ideas to pursue.

“I’m delighted to launch this book to the market and provide some answers to a lot of the challenges that are perplexing advisers. I know that there is high emotion on this topic, and that advisers are feeling bruised and rather put-upon. I’m happy to say that three insurers, AIA, AMP and Asteron have sponsored the launch of the book and are keen to empower advisers to work through this challenging time and come out the other side with a stronger business model and a successful future” said Sue.

The book will be available for purchase from the Elixir website.

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