12 Mar BY Sue Viskovic How do other advisers charge?
Ahhh that old chestnut. It’s a question that is asked every time an adviser starts to think about reshaping their own pricing structure. And this year, it’s on the lips of just about every adviser and PDM in the country.
Right now, advisers are facing rising costs, legacy income attrition, and the very real threat of digital disruption amidst constant negative media and poor consumer perception. To top it all off, the LIF has now passed the senate and they know that’s looming from January 1. They’re being forced to rethink their advice models, and at the heart of that, is how to price.
Whilst some advisers are savvy enough to keep their finger on the pulse and continually evolve their pricing, many don’t know how to make the changes necessary to price properly and evolve their service models. Those who are aware of their pricing shortcomings suffer anxiety, and those who are still riding the wave of an outdated model will find themselves under duress if they don’t take a reality check and start thinking about their future sustainability.
That’s why if there’s one piece of research your advisers REALLY need this year, it’s the Adviser Pricing Models Research Report fourth edition. If you’ve not seen it before, this report is an in-depth study into how advisers around Australia price their services. Much more than simply a benchmarking study on the numbers, this research uncovers service models, pricing structures, timing, success factors and alternative techniques that prove invaluable for advisers when considering how to solve their own challenges.
The fourth edition of the research will be released in April and while we’re gathering the data, we’re releasing our licensee packages, so you can secure access to this invaluable knowledge in bulk. If you’re wanting some specific proof to shake your advisers out of their comfort zone (or to prove what an awesome job you’ve done of helping them already) you can obtain a customised report to see how your advisers compare in a blind comparison against other licensees and the rest of the market. Or simply leverage your buying power to access the licensee package and be the hero to your advisers by saving them a significant amount off the retail price.
This info will be invaluable to your advisers AND powerful in the hands of your management team. It’s not enough to know the average engagement fee or charge-out rate. To really help advisers, your team need to know the intricacies of what makes a pricing model work, and in particular, how successful advice businesses are handling all the nuances of pricing insurance advice.
The Research will be released in two formats – the full, hard copy edition that includes all of the data – the numbers, key findings, evolving trends, challenges and solutions, pricing insurance advice, client case studies and full business model case studies. This is an enormous piece of work that’s conducted by specialised consultants with intimate knowledge of the context of the data, which is why the information is so relevant and meaningful. For those who don’t want the $1,650 worth of deep-dive into the information, there is also an Adviser Insights version, a summarised digital edition that includes the numbers, key findings and client case studies.
There are two base licensee packages to choose from, and you can build in additional copies depending on the size of your network. We’re even offering an early bird package for the next fortnight for licensees who can act quickly and confirm their orders by the 24th of March.
If you’d like to obtain an Elixir speaker to share these findings with your network, contact us to discuss your needs. Otherwise you can access the data as follows…
EARLY BIRD OFFER = $8,000 (+ GST),
ORDERS PLACED AFTER 24TH MARCH = $10,000 (+ GST)
- One hard copy of the full Adviser Pricing Models Research Report, valued at $1,650.
- Distribution rights of Adviser Insights digital edition to send out to up to 50 advisers in your adviser network, valued at $275 per copy. Additional copies available – see below.
- Presentation of findings to senior leadership team and/or PDM staff team.
EARLY BIRD OFFER = $17,500 (+ GST),
ORDERS PLACED AFTER 24TH MARCH = $22,000 (+ GST)
- Includes everything in option one PLUS
- Customised report detailing pricing analysis of your advisers compared to the market and other licensees in a blind comparison.
- Presentation deck of key findings, for your team to deliver at PD Days and/or in adviser offices.
Optional extras available for both packages
- Full research report – $250 per additional copy (retail price $1,650 each)
- Adviser Insights – package includes distribution rights to 50 advisers, add $50 per adviser between 51-150 and $20 per adviser over 151, valued at $275 per copy.