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Provide Appropriate Advice and Services

Provide Appropriate Advice and Services Diploma of Financial Planning Introduction to the Financial Planning Environment. Provide Appropriate Advice and Services. What differentiates us from other species is……. Communication.

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Provide Appropriate Advice and Services

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  1. Provide Appropriate Advice and ServicesDiploma of Financial PlanningIntroduction to the Financial Planning Environment

  2. Provide Appropriate Advice and Services • What differentiates us from other species is……. • Communication • In order to be able to provide appropriate advice and services, we need to first be able to communicate effectively…. Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  3. Body Language/Attire Communication Verbal Written & Presentation skills Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  4. World of Multi-media, technology & electronics Abbreviations Mood indicators Spell checks Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  5. But, to be a successful Financial Adviser, the #1 key skill is to LISTEN……. Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  6. Birdseye view of the Industry • Major Players – Banks, Financial Services and Dealer Groups – • Concentrated – Big 4 banks + AMP = 48% of Market • Rest is made up of independent advisers and non-bank owned dealer groups • The large institutions compete on basis of their reputation, ability to cross “sell” financial planning and products to existing clients Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  7. Smaller companies and individuals compete on basis of their own value proposition and speciality. • Currently, about 18,000 advisers in Australia and about 160 Dealer Groups But….the top 20 groups have more than 50% of market share! • …and just 3,000 of the 18,000 advisers are not aligned with any product manufacturer Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  8. Structure varies widely……. From AMP and CBA that have several hundred licenced advisers…. …… to a financial planning practice having just one adviser Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

  9. In General, advisers can be either: Salaried/employed by a principal or a large financial services house – under this structure, they do not usually own a share of the business and do not own the client relationship Or Own their own book and be licensed by a dealer group or have their own AFSL (in this structure, they could be either be a sole trader or be a director of their own company) Copy right TAFE 2013 – No materials from this presentation can be utilized without the prior written permission of TAFE NSW

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