Financial Planning

New video series reinforces value of advice

Financial services firm ClearView has launched a video series to assist advisers in effectively communicating the value of receiving professional financial advice with their clients.

The series, called Advice under the bonnet, was developed as a result of feedback from advisers indicating their need for tools to assist in client acquisition, client engagement and practice development in a post-royal commission environment.

The support facility specifically covers off three aspects of the client and planner relationship, being the process of the two parties getting to know each other, how advisers can prepare and present a financial plan, and how a financial plan can be implemented and the advantages of receiving ongoing advice.

The launch of the video series has been well timed as it has never been more important for advisers to be able to express the value of their advice proposition to their clients, ClearView distribution general manager Christopher Blaxland-Walker said.

“There are changes coming down the line, such as annual opt-in requirements and restrictions on the fees that can be paid from superannuation accounts, which means advisers must reinforce their value because people won’t opt in for services they don’t value,” Blaxland-Walker said.

He said the education process regarding the benefits of receiving professional financial advice is a responsibility product providers need to embrace as well.

“There are a plethora of reasons why more people don’t seek professional advice. Some think they don’t need it, some can’t afford it, many don’t understand the advice process and others don’t know who to trust and where to go,” he said.

“We may not be able to convince everyone, but we can clearly map out the advice process for consumers to make an informed decision based on facts.”

The video series is part of ClearView’s “Future of Advice” program, which is designed to provide advisers with a range of tools to assist them with their client-facing activities.

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