retention

Financial planning

Long-term career development pivotal for retention beyond PY

Two licensees have shared how providing a structured career pathway that extends beyond the Professional Year is critical to ensure candidates won’t pursue other opportun...

Financial planning

The business cost of losing a staff member

While hiring new staff in a financial advice practice inevitably incurs expenses, Striver’s Alisdair Barr says the greater business cost can come from losing the skills o...

Financial planning

How can advice firms boost PY retention?

Providing well developed professional year programs and offering flexible working arrangements are two key drivers leading to higher retention of new advice entrants, two...

Financial planning

New adviser retention makes positive recovery

The number of new entrants in the financial advice profession who have since departed this year has seen an improvement from the amount that left in 2023....

Financial planning

Half of employees considering career change

With advice firms reporting challenges around staff retention and hiring, half of employees say they are willing to change careers in the next 12 months and pay isn’t alw...

Financial planning

How to prevent young adviser exodus

Two advice professionals have discussed why three-quarters of advisers looking to leave the industry in the next 12 months are under 40, and what can be done....

Superannuation

Employees urge greater mental health investment

Australian workplace mental health is still a work in progress, as one in four employees experience a high level of stress at work and one in five of those say they will ...

Life/Risk

Freedom admits to dodgy policy retention practices

Freedom’s retention practices make it “unnecessarily difficult to cancel [insurance] policies” with just 28.5 per cent of customers trying to cancel funeral insurance cov...

Life/Risk

Insurer hit with 72 attempted cancellations daily

Freedom received 72 cancellation calls a day from customers for its funeral insurance policy over a 13-month period, with 13 per cent of those calls coming during the fir...

Financial planning

Planner demand up, client retention down

New Investment Trends research has revealed that demand for good financial advice has never been higher but planners are struggling to retain clients in an environment wh...