Transitioning to SecuritorFAQS
Q: Is transitioning my business going to be hard?
A: The key to good change management is planning and believing in/committing to the end goal. Of course, there will be some challenging moments, but Securitor can help you remain focused on the outcome. We’ll also help you embed the new processes into your day-to-day business.
Q: Will I see a drop in revenue once I move to fee-for-advice?
A: 81% of advisers who currently operate a fee-for-advice model believe that their business will be either the same or better off under the proposed regulatory reform. These advisers, who have already made the change, are confident about the future of their businesses – and see the opportunity that the new environment can bring. Source: Proposed Financial Service Reforms – Adviser Sentiment and Outlook, Wealth Insights, May 2010.
Q: How is the Securitor Fee-for-Advice Transition Model different from other dealer groups?
A: The Securitor difference is our ‘diagnose before you prescribe’ approach. We understand there is no one-size-fits-all approach to advice businesses, so we tailor a plan for you and your practice. The other key difference is Securitor’s Practice Development Managers who will support you to drive the change into your business.
Q: I’ve already started on the journey to change my business. Can the Securitor Fee-for-advice Transition Model still help me?
A: Our ‘diagnose before you prescribe’ approach means we can help build a plan to suit your business needs. You won’t have to undertake the full process if you are well on the journey to fee-for-advice readiness. For example, Securitor can help you implement the remaining changes to transition your business and assist you to embed new processes into your business for a smooth transition.
Q: The proposed changes haven’t been passed as law. Do I need to change or should I wait and see?
A: Change is best managed one-step at a time. Incremental change works better than revolutionary shift, so it’s important to start planning now. The proposed changes will take effect in 2012, but regardless of legislation, the industry has committed to a path of greater transparency and removal of remuneration via commission.
Q: I’m interested in finding out about the Fee-for-advice Transition Model. What next?
A: You can give us a call on 1800 053 205 or contact a Securitor representative from your state to book your initial Reform Readiness Consultation.
