OnePath launches program to support advisers deal with FOFA
OnePath has announced the launch of the Valuing Advice for Growth program, the first in a series of initiatives the platform is unveiling in order to support aligned dealer group advisers in meeting the requirements of Future of Financial Advice (FoFA) reforms.
OnePath said the Valuing Advice for Growth program will provide advisers with a training opportunity to "road test" their FoFA strategies, including developing pricing models, reviewing their scaled advice offerings and "reinforcing their client value propositions."
The program will specifically help advisers to segment their existing clients by revenue and other key metrics, identifying the financial impacts of new service offerings on an adviser's business, and updating advice documents, including statements of advice, said OnePath.
Commencing in October, each workshop will run for four days and run up until 2012.
Upon successful completion of the program, advisers will receive 56 continuing professional development points from the Financial Planning Association of Australia.
A condensed version of the program known as FutureReady, will also be offered to OnePath's key business partners who are not part of OnePath's aligned dealer group network.
"The program will provide advisers with a range of practical examples, support tools and templates, access to specialist software for the development and pricing of service packages, plus ongoing coaching and support of our dealer group teams," said ANZ general manager advice and distribution Paul Barrett.
"The program will give our aligned advisers the personal and business confidence they need to deal with the impending changes."
Recommended for you
Financial Services Minister Stephen Jones has shared further details on the second tranche of the Delivering Better Financial Outcomes reforms including modernising best interests duty and reforming Statements of Advice.
The Federal Court has found a company director guilty of operating unregistered managed investment schemes and carrying on a financial services business without holding an AFSL.
The Governance Institute has said ASIC’s governance arrangements are no longer “fit for purpose” in a time when financial markets are quickly innovating and cyber crime becomes a threat.
Compliance professionals working in financial services are facing burnout risk as higher workloads, coupled with the ever-changing regulation, place notable strain on staff.
