Most advocated dealer group revealed

Chris Kennedy and Aleks Vickovich / August 20, 2013 / 0 Comments

The latest Investment Trends report has named the Australian Financial Services Licensee with the highest levels of advocacy in the industry, as ranked by financial advisers.

Westpac-aligned dealer group Securitor has received the highest net promoter score (NPS) in a survey of 1,141 financial advisers conducted by Investment Trends in April and May.

According to the 2013 Planner Business Model Report, “Securitor had the highest level of advocacy from its planners, with those who are most happy with it often citing the excellent support and compliance services, being pro-active in tackling FOFA related issues and keeping them informed”.

The survey also gauged adviser satisfaction with their licensee’s level of “support, flexibility and proactivity” and collated feedback from advisers on issues such as staff and client retention, research, IT and business development support.

Reflecting on the results, Securitor and Licensee Select managing director Matt Englund told ifa the strong result can partly be attributed to a comprehensive adviser education program.

“We were really excited by the feedback from our advisers, and really appreciative that it validated the great work the team’s been doing with our advisers over the last 12 months and the last three years,” Mr Englund said.

“One of the things that came through really strongly in all of the engagement with our advisers: a strong education program that lays out what the next 24 months looks like in terms of the work we do with our advisers, a clear articulation of the value that we deliver and the clients that we serve.”

More broadly, “dealer group advocacy has increased again and is now the highest it has been for four years”, the report states.

Increasing satisfaction with licensee services may reflect what Investment Trends has identified as a generally rosier outlook for the advice industry as investor sentiment returns.

“Planners are more positive in 2013 following a boost to their inflows with investor confidence returning in early 2013,” the report states.

Investment Trends senior analyst Recep Peker said this growing optimism from advisers may in part be related to stronger demand for advice.

“New client inflows, which were depressed between 2009 and 2012, increased by 22 per cent in the 12 months to May 2013 thanks to the return of investor confidence,” Mr Peker said.

“This has helped boost planners’ confidence, their outlook and their business profitability.”

Recep Peker will be expanding on the report’s findings at the 13th annual Wraps, Platforms & Masterfunds Conference in the NSW Hunter Valley this week. Final tickets available: http://masterfundsconference.com.au/#&panel1-1

SUBSCRIBE TO THE IFA DAILY BULLETIN

promoted stories

News