Fees are only a concern for clients where they do not believe they are receiving value, says Centric Wealth chief executive Phil Kearns, off the back of feedback from the firm’s own clients.
According to findings released today by Centric Wealth’s newly formed client advisory group, demonstration of value and capital security is a higher priority for advice clients than the price of advice.
“For me and our advisers the most important message was that fees will only be an issue if the client does not believe they are receiving value,” said Kearns.
“We think this is an important reminder for our whole industry, given fees have been front and centre of all discussion for so long.”
Other pieces of feedback from the group included that clients want advice around major world events, such as “the problems in North Korea”, and the impact of these events on their capital security.
Advice around retirement was also listed as a key concern for the group, which Kearns said is now playing a valuable role in the management and strategic process at Centric Wealth.
Stimulate new ideas. Stimulate new thinking. Top up your CPD points and hear from industry experts with ifa’s Knowledge Centre. Keep up to date with the latest trends and reforms, all while adding to your CPD hours. Explore the Knowledge Centre now.
IOOF has completed the first phase migration of its legacy platforms and products on new proprietary super and investments platform, Evolve. ...
The Administrative Appeals Tribunal has rejected an adviser’s appeal for review of an ASIC banning order after he failed to show in court. ...
ROAR Software and Fin365 have partnered up for a new integrated solution. ...