Dealer group sentiment indices launched
Research company Tepana Financial Indices has entered into a partnership with My Dealer Group to launch what it is describing as a suite of indices to provide licensees with quantitative analysis on how well advisers rate them.
The two companies said the indices would include:
- Adviser Loyalty Index (Net Promoter Score [NPS] measuring loyalty and adviser retention).
- Licensee SQI (Service Quality Index quantifying satisfaction and the importance of various service elements, together with reasons for any dissatisfaction).
- Adviser API (Adviser Professionalism Index: Education and Training).
Together, the indices offer licensees critical quantitative measurement on how advisers rate them in relation to their competitors, their perceived strengths and weaknesses and their opportunities for business growth.
My Dealer Group was launched by Pinnacle Practice around 12 months ago.
Pinnacle director Anne Fuchs said the partnership with Tepana Financial Indices meant the company would be able to quantify information and also offer NPS and SQI analysis to licensees.
"We believe this research is critical to the survival of licensees in a post-FOFA [Future of Financial Advice] environment," Ms Fuchs said.
"Dealer groups benefit from this kind of analysis because they can see what advisers value and adjust their service offerings to meet the market."
Recommended for you
Insignia Financial has issued a statement to the ASX regarding a potential bid from a third global private equity business to acquire the firm.
More than 30 advisers fell off the FAR during the Christmas and New Year period, according to Wealth Data, with half of these coming from licensee giant Entireti.
With next-generation heirs unlikely to retain their family’s financial advisers after receiving an inheritance, Capgemini has explored how firms can work with younger generations to maintain a relationship.
The use of technology and data analytics will be a way for advice firms to grow in 2025, according to Adviser Ratings, with those who are using it successfully reporting 10 per cent higher profit margins.
