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.
Tony Bates This confirms my suspicion that post FOFA (especially after today's Senate announcement) the banks and AMP will wish to divest the "advice" piece of the wealth management pie and there is no one big enough to sell to. They will transition some advisers to 'platform distribution' but write off the rest. BOLR finished too. Institutional, non-aligned tensions persist as AMP announces Genesys shakeup
Matthew Walker Perhaps it's risk profiling that is underpinning poor advice - period.
Perhaps more of a focus on meeting the clients objectives rather than how they 'feel' at a particular point in time is a better place to start the conversation.
I agree with Venn, advisers need to be better educated about why and how to use profiles - amongst other things. Poor financial advice is often underpinned by bad risk profiling
The Australian financial planning industry is evolving and going through lots of change.
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