04 Feb How many clients will welcome an increase in advice service fees?
Here the Elixir team tackle another couple of burning questions highlighted in the recent AFA Webinar. The question posed was "From your experience, what fraction of clients will welcome an increase in advice service fees because undeclared commissions received previously have ceased. How does this make...
05 Nov The Bottom Line About Your Bottom Line
Respected industry contributor, Elixir Consulting founder, Sue Viskovic, offers a future pathway to success for risk advisers that she says can and does work. This pathway articulates a risk advice business model that embraces a combination of both fees and commissions… There are roughly three months...
11 Sep Busy really is the new stupid
We see it all the time: overwhelmed advisers making the mistake of working harder and putting in more hours just to get more done...
11 Sep Will 12 month service agreements be a problem in your business?
Lots of things to consider here, be it logistics or a bigger issue of whether clients see enough value in your proposition to re-sign every 12 months. Here's some advice that helped one adviser who was struggling with this...
11 Sep You can’t keep charging all your fees to Super
Are you in the habit of collecting all of your fees from clients' Super funds? With greater scrutiny on the sole purpose test, you'll be wanting to rethink this for each client...
15 Feb Are you going to be impacted by grandfathered commissions being switched off?
I originally posted this article in Feb 2019 and it's even more relevant now in October 2019, as the ban on Grandfathered commissions has just been legislated. Whilst our original thinking was that you had until the 1st January 2021 to replace or transition this income to fees,...
08 Feb How are you feeling after the Royal Commission Announcements?
If you’re only reading news articles and social media commentary because you don’t have time to read the full 530 pages of Mr Hayne’s report from the Royal Commission, you’re not alone… But this may be adding unnecessary stress, causing you to worry about things without...
17 Dec She who dares wins? A success story.
“Award winning” – It’s a phrase often seen in professional headlines on LinkedIn and other marketing channels...
17 Nov Educated clients are better clients.
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,...
04 Feb What’s the future of risk commissions?
The structure of risk commissions in Australia is set to change. As it stands right now, commissions for risk advice are a legitimate form of remuneration for advisers (except in certain circumstances). However, the writing is firmly on the wall that the commission model as we know it will change. The question is not if – but when.- 1
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