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Many advisers are concerned that the Life Insurance Framework will damage their business by reducing their income and driving up the cost of life insurance. I wrote this article for specialist risk advisers in Risk Info Magazine, sharing my belief that while it is important to...

Educating clients is part of the adviser’s role and most will have a well prepared and polished process to do so, but it can become tiresome (and time consuming!)running through this process with each and every client. In this article first published in RiskInfo magazine,...

We're thrilled that our MD, Sue Viskovic was featured this month in an article in the Chamber of Commerce magazine. Set amidst stories of great entrepreneurs and business ideas, in a publication read by business owners, Sue was given the opportunity to share a small...

We are at a point in history where the changing needs and desires of consumers, the evolution of technology and increasing intervention from government are converging on the advice profession to force significant change. While an adviser may have been able to ignore (or simply miss) the changing needs of potential clients, and remained naive to the impact of changes in technology, the new adviser education standards and changes in the Life Insurance Framework will significantly impact most business owners. They now have to act - if they don't they may no longer be licensed, or may simply go out of business when their cashflow takes a significant hit. "Oh great", I hear you say - "yet another article trying to scare me about robo-advice, insurance commissions, my relevance in a changing world etc". Well don't worry - I know you get enough of that elsewhere. No, I want to give you some thoughts on how to get through it.
I wrote an article recently for Risk Adviser magazine, that I have recreated here for our subscribers. There are some significant changes afoot to the last bastion of advice commissions, and we’re getting a little concerned that advisers are being lulled into a false sense of preparedness by well-meaning, albeit inexperienced supporters. I’ve been very vocal in sharing our view that this does not mean the end for insurance advice, and that we may see an even stronger demand for professional risk advice, but I’ve also not sugar-coated it. Any adviser who currently receives up-front or hybrid commissions, be they risk-focused or provide risk in a broader proposition will find it challenging to make the changes necessary in their business. It will, however, be well worth it - as our experience shows us that the type of thought process and change required will have a dramatic impact on a range of areas of their business, not the least of which, their bottom line. Here is what was published in Risk Adviser…..
We've been busy these past few months, starting to work with advisers on how to handle the proposed Life Insurance Framework when it gets implemented.  Two weeks after receiving confirmation that the new government is supporting the industry-proposed new Frameworks, I thought it might be helpful to share a few free resources we've developed.
Unless you’ve been under a rock, you’ll be aware that there are significant changes coming very soon (January 1st) to the life insurance industry - changes that will have a very real and immediate impact on advice businesses. I have recently finished a series of workshops around Australia, talking with advisers about what the new life insurance framework will mean to their business.
There is something that starts to happen in businesses around this time of year ... as financials get completed, and people take a few weeks to refresh after the end of the financial year, their mind starts some fresh thinking about just what they'd like to do differently in this new year. 

"The first step toward success is taken when you refuse to be a captive of the environment in which you first find yourself."[/caption] Running an advice business can be a tough gig at the best of times. Right now, you’re contending with legislative change, media perpetuating consumer...