Former Wallaby Phil Kearns has been in the hot seat at Centric Wealth for five months and reflects on industry reform and the road ahead. After seven years at Investec, Kearns felt the need for a new challenge and started his new role as CEO of Centric in December last year.
Mark Lowe Dear Simon,
I think that the situation is a little more complex than you portray.
There is certainly a desire from the big players to appear to be meeting the standards but equally many of the planners in the larger groups are wanting to see improved standards and making suggestions to management how this can be achieved.
Eventually those planners who do not wish to measure will move on to retirement or into roles with other groups where perhaps less is expected of them, for example a coaching role or a marketing role.
Larger groups have the structure to allow pronouncements on training standards to be made so it is not really unexpected that they should do so.
Mark Dam wall holding back financial planning standards is showing some serious cracks
Adam Tucker I agree, transparency is extremely important. I've agreed to give Simon another interview and you should be reading it here in Professional Planner mid next week - thanks for your interest! In the meantime let me say that we are committed to help breakdown some of the negative perceptions of the financial advice industry that are becoming so wide-spread and entrenched. Through our work benchmarking and collecting data on the experience of clients working with superb financial planners, we have seen first-hand how financial advisers transform the lives of their clients. For some time it has weighed on us that the data we have forms a story that is so rarely told and so, because we have evidence that supports the value of Australians engaging in financial planning with great financial advisers, we are doing our bit to get the message out there using the tools and resources we have. There's a lot more to talk about so please stay tuned. Thanks for your comment. Meet Australia’s most-trusted financial planners. How do you become one of them?
Matthew Walker This is an excellent initiative, however I do wonder how they can make such claims about having he best of the best if they do not consider any advisers outside of the ones that have paid for their services.
Can they really justify their claim to be the most trusted in the industry?
Perhaps if they had a broader sample... Meet Australia’s most-trusted financial planners. How do you become one of them?
The Australian financial planning industry is evolving and going through lots of change.
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