SEARCH

‘Let go of identity' to adapt, says AFA

Advisers must let go of parts of their identity to effectively adapt to change, says AFA chief executive Brad Fox.

In a speech to advisers at the AFA's National Practitioner Roadshow in Sydney yesterday, Mr Fox addressed the challenges of adapting to societal change.

“You’ve got to adapt to societal expectations,” Mr Fox said. “The difficulty of adapting is you’ve got to let go of some part of you.

“If you’ve been a successful risk specialist for 30 years, and you’ve charged upfront commissions all the way through, that’s part of your identity.

Advertisement
Advertisement

“If you’re an adviser that has always used a built-in commission product in the superannuation investment space, maybe that’s part of your identity or part of what it means to your success,” he said.

Mr Fox noted that while it is difficult to change established adviser behaviour, it is important to challenge it in order to move forward and progress as an adviser.

“Adaptive change is about taking the best that you have now and blending it with the best that you need for the future,” he said.

“It is hard to disrupt that, but it is essential that we challenge it – about whether it is the right thing we need to go forward.”

‘Let go of identity' to adapt, says AFA
Brad Fox
ifa logo

 

The ifa Excellence Awards are back in 2021 and nominations are now open! This prestigious accolade recognises exceptional professionals within the financial advice industry, shining a light on the outstanding achievements from the nation's best and brightest. If this sounds like you or someone you know, then nominate today for the ifa Excellence Awards 2021!

Adrian Flores

Adrian Flores

Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.

You can contact him on [email protected].

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.