Elixir launches financial planning pricing research
Elixir Consulting has launched a follow-up survey to its Adviser Pricing Models Research which looks at obstacles and methods used by financial planners in creating a fee-based remuneration model.
Many advisers are still in the dark about the appropriate pricing for advice, as the industry continues to get clarification on the upcoming Future of Financial Advice (FOFA) reforms package.
Elixir Consulting managing director Sue Viskovic said the research aimed to unveil some of the mysteries and challenges faced by business owners when creating a fee model.
"We want to understand what the majority of businesses are doing and also delve deeper with those who have already implemented fees in their business in order to assist advisers around the country to improve, update or maintain their own pricing models," Viskovic said.
The research, first conducted in 2009, will also see the expansion of the research into increased focus on risk and stockbroking pricing models.
The company is conducting Adviser Pricing Models Research for the first time since the announcement of FOFA, as part of which all advisers will have to dump a commission-based remuneration model and switch to fee-for-service by July 2012.
Elixir Consulting is calling financial advisers to participate in the survey, which involves legal agreements protecting the identity of participants and the information they provide.
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