A practice management consultant has called on advisers to regain their ‘mojo’ after being confronted with regulatory burdens and negative public perceptions.
Speaking at the van Eyk annual conference in Sydney yesterday, Encore Group national practice development manager Matt Fogarty said the Future of Financial Advice (FOFA) reforms had taken an emotional toll on the industry.
“For many, FOFA has been all-consuming and it has worn us down,” he said.
“Advisers have suffered a confidence shock; it has hit our idea of the value we bring to clients and rattled our business confidence,” he added.
“The wind has been knocked out of our sails and we need to get our mojo back.”
Fogarty said advisers need to re-engage with the valuable role they play in clients’ lives and not be distracted by the “perception problem.”
“To prosper post-FOFA, absolute client focus will be the key,” he said.
SUBSCRIBE TO THE IFA DAILY BULLETIN
News
- 27 Jun 2017ASIC cracks down on s923A non-complianceBy Aleks Vickovich
- 27 Jun 2017GPS Wealth to be acquiredBy Aleks Vickovich
- 26 Jun 2017Former AMP adviser gets permanent banBy Staff Reporter
- 27 Jun 2017ABA demands rejection of state-based bank taxBy Staff Reporter
- 26 Jun 2017ASIC extends super SOA deadlineBy Staff Reporter
- 27 Jun 2017New Trilogy fund aims for retireesBy Staff Reporter
- view all
