Adviser Ratings has announced the launch of “Adviser Connect”, which it describes as a “matching service between advisers and licensees” aiming to work with “best of breed financial advisers and licensee groups to facilitate growth”.
A post on its website published yesterday says it is in “constant dialogue” with advisers seeking its “guidance” on which licensee to choose, leading to the launch of the new service.
“We have information on the licensee market — technology offering, lead generation opportunities, fee structures, compliance requirements, training support and so on,” the post said.
“We want to connect advisers (new and existing) and licensees with shared values and a vision of improving and enhancing the reputation of the industry, making quality advice more readily available and delivering better financial outcomes for all Australians.”
The website also indicates that Adviser Ratings is an authorised representative of iPraxis, a licensee specialising in limited AFSL services for accountants.
Adviser Ratings was launched in 2014 as a consumer-facing platform aiming to allow the general public to rate financial advisers.
It has subsequently launched a number of B2B initiatives such as the new matchmaking service and the FinForward conference held in March.
At the time of its launch some financial advisers raised concerns about their inclusion on the platform without permission.
Former Adviser Ratings spokesperson Christopher Zinn told ifa at that time that the data underlying the ratings platform was sourced via a commercial transaction with Rainmaker Group, a research house and publisher of Financial Standard.
Mark Rantall, then-chief executive of the FPA, said the professional association would be keeping a “watching brief” on the development of the Adviser Ratings business.
To get real adviser ratings…do members of the aoifp have to sign up to a consumer friendly ethical agreement? Do they have to agree to undertake cpd training. No? Ok then I’ll just believe your koolaid – whatever that is…im an ethical adviser because i say so, pick me! Maybe there is a need for independant validation. AR aren’t perfect, but they’re a start.
Any adviser that appears on this site is a COWBOY. You can find the unprofessional adviser easily by going to Adviser ratings. It astounds me that there are advisers out their claiming their Holley than thou I’m independent status but then appear on this site. Doctors and other professional do not get rated and don’t need to be, nor should any adviser that wants to help lift professional standards appear on this site. Please remember Some of the most highly rated advisers were Storm Financial Planners and we know how this ended up. It is for these reasons that for the good of all Australians that this site should be torn down.
That’s your choice McGlashen, but in an ever growing online world there is the opportunity to embrace it or ignore it. I see it as a great opportunity for advisers who want to embrace it, and get some third-party validation going. Even if a client refers me to their friends and family, they are still going to google me. Isnt it better that they can see that others have recommended me? And who says that doctors and other professionals dont get rated? And even if they dont, why shouldnt they? I would want my GP to refer me to the guy he would get to operate on him, not his mate from Uni who is just ok at fixing knees…
You talk about independence and i’m not sure what your rant was actually meant to say but one of the good things about the AR website is that it shows is who advisers actually belong to. If an adviser is with Finwiz it shows they are linked to CBA, if Meritum its NAB, if its RI Advice your with ANZ, Magnitude with Westpac, Hillross or Charter with AMP, etc, etc, etc.
Great Work Adviser Ratings!
We all know the process of choosing a great business partner who aligns with your values can be a minefield, so having a trusted resource will be great! You guys have done a fabulous job in promoting Great Advice & it’s great to see that you are moving in this direction to promote Great Advice Partnerships too! Well done! 🙂
Don’t take any notice of the above negative comments, stay focused & continue to push forward with positive change! Love your work! 🙂
this is a really thin attempt at establishing bonafides – and in all reality probably does the public a disservice. My own details are inaccurate – incomplete – and yet information to the contrary is available on the public record – Way too much Nanny state for my liking –
‘Given that any adviser that is member of the AIOFP doesn’t get a high rating because they aren’t members of the FPA or AFA institutional family is complete crap. But standard institutional bias of the whole industry.
And an adviser that has a more difficult Graduate Diploma of Financial Planning gets a lower rating than an adviser with the standard DFP.
This site has so many holes and crap rating processes, it doesn’t do it self any real service except some fluffy ratings and an overall plan to extract fees from advisers to be rated.
Hey, what about an adviser who has a Master of Financial Planning? I suggest some of you should take some lessons in grammar. By the way, a DFP back in the day had the same degree of difficulty as the graduate diploma of financial planning today. I agree that the adviser rating site does not really hold as most good advisers don’t brag about themselves and just get on with the job. There have been many advisers have won the adviser of the year after nominating themselves. It is akin to fund manager of the year, who cares?
sorry to go off tangent but….The old and original DFP the same degree of difficulty as a Grad Dip. What are you smoking dude? : )
This is a blatant cash grab – advisers will need to pay a fee and / or AFSL’s will need to pay to be on the panel. This is being done by others and it is a pay to play business model which adds no value beyond writing a few words of why an adviser should choose one AFSL over another – this is called advertising and certainly not matching. Tinder has more transparency and integrity!
The real way for an adviser to find a dealer group they might be interested in is going to the ASIC website to find current and former advisers listed and then picking up the phone to make a few random calls and ask some hard questions. Anything below that demonstrates a lazy and stupid adviser who should be in a sub standard dealer group.
cmon these adviser ratings sites are crap ! why would a consumer with brains ‘believe’ that x adviser has 22 five star ratings etc when that adviser may have 500 + clients, the other (excluding the mum, wife, brother, best man) may not have been encouraged to rate ! Imagine an adviser asking a less than happy client to rate! These sites a feel good that does not in any way with any credibility rate advisers, as always ask your friends colleagues, family first for a referral !!!! cmon give us all a break it is purely a commercial engine ! [b]Planners don’t get sucked in[/b]
To prove my point I just [b]’Liked[/b]’ my own article !!!!!!!! I feel really good now !!!!!!!