Restoring client confidence and trust in the advice industry
Professional Planner hosted a roundtable event which addressed some of the key issues facing the advice industry in winning back and maintaining client confidence and trust.
Key issues you should know about
Resolving the issues in the advice industry
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The role of education, disclosure and policy in resolving the issues facing our industry
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What level of financial literacy can our industry realistically achieve?
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What do we do about the 7 out of 10 Australians who don’t get advice?
What clients are thinking
- Client perceptions of planners - ‘Are they really working for me?
The industry's grey areas
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Remuneration structures (fee-for-service versus commission based). What is best for our industry?
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Roles and obligations of licensees (directors of companies) in terms of their investors and clients.
Business structures
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Distribution versus advice businesses. Is the distribution business model (tied to a product) part of the problem?
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Can changing regulation help the issues when bad behaviour is present?
Financial advice is clearly of benefit to individuals, society and the economy. The issue is rebuilding client confidence and trust and improving the perception of the industry.
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How do you re-build client confidence and trust?
We believe the first step in overcoming some of these issues may be to become more resilient to what is happening around us.
Visit our ‘Resilient thinking in trying times’ page today. It includes tips on how to exert greater control over your; motivation, way of thinking, emotional wellbeing and accomplishments.
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