Why Customer Feedback Is Your Best Friend
Overall, the industry has achieved a great deal in the last 5 years and is now responsible for originating roughly 55 - 60% of all new mortgages in Australia. Clearly, consumers are voting with their feet but that doesn’t mean the industry is without actual or...
Why Client-First Practices Ultimately Win
In this post, we set out the reasons why client-first practices ultimately win and provide some ideas about how to become a client-first practice. The industry is undoubtedly at its most important crossroad ever. It has the choice of continuing to pursue product-led...
FASEA Code of Ethics Guidance
This post provides FASEA Code of Ethics guidance about three words that every adviser should be focused on from 1 January 2020 in order to demonstrate compliance with the code. The relevant legislative instrument (Financial Planners and Advisers Code of Ethics 2019)...
FASEA’s Code of Ethics Values
FASEA's Code of Ethics values, which consist of five the (5) ethical values of trustworthiness, competence, honesty, fairness, and diligence is critical to your ability to demonstrate compliance. These underpin the prescribed twelve (12) standards. Often overlooked,...
FASEA Code of Ethics Frequently Asked Questions
This post provides a summary of frequently asked questions and related answers for the FASEA Code of Ethics. What is FASEA? FASEA is the acronym for the Financial Adviser Standards and Ethics Authority Ltd. FASEA was established by the Australian government in April...
FASEA Code of Ethics: Existential Threat or Golden Opportunity?
Lots of people in the industry are yelling right now because they have serious concerns about the introduction of the FASEA Code of Ethics. It commences on 1 January 2020, less than 40 business days from now, and has largely flown under the radar since its enactment...
Client Experience and FASEA Code of Ethics
The wealth management industry faces unique and significant challenges as it responds to a tsunami of regulatory change, including the FASEA Code of Ethics, which is legislated to commence from 1 January 2020 (less than 3 months away). A core issue the industry needs...
Why Client Feedback Matters More Than Ever
At a time of massive changes within the industry, it may surprise you to learn that less than 30% of practices collect client feedback on a regular basis. And even then, most struggle to understand and take appropriate action on the results. I'm regularly informed by...
FASEA Code of Ethics Values – Diligence
FASEA's Code of Ethics commences 1 January 2020 and is underpinned by five (5) values - this is a guide to Diligence. Diligence is action-oriented, so clients want to know if they can count on you to not only act in a manner that applies your knowledge to the...
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