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16% of Australians use a Financial Planner- Time for Talking is Over.

By: admin|

Traditional planning companies need to reshape their whole business models before there will be a change of acceptance by the mums and dads of Australia. Shortly a solution will be released that will finally make clients more dependent on their advisors and AAMC is involved in this journey. The most important thing to also remember is the traditional business models now need to change so that clients can tell one person all their needs and then the advisor will satisfy them. This subject matter has been debated and talked to death for too long now and it’s time for action.

Financial Planners model of today cannot survive tomorrow, unless they fully understand that Accountants are still the  most trusted advisor overall in the clients eyes, so how can everyone reshape their business models to offer clients a complete range of services, coupled with a fee for service model.

Basically whilst I have also worked under a commission model in my past life as I needed to place food on the family table, I have like many of us seen too many bad behaviours driven by the commissions opportunittes and this is turn has turned the very clients we need to survive away from us, as per the 16% only now using a Financial Planner.

To restart this new model one may also need to look at the wording/title of Financial Planner and understand many do not deal with that business model anymore as is also evident by the large number of self managed super funds operating in Australia 460,000 with approximately 900,000 trustees with many controlling their own destiny.

Talk or act, these choices are available to every individual as to delay will see technology replace many in the current outdated roles and business models of today.

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