Value of advice

Practice leaders: valuing advice for growth



Is your practice ready for the Future of Financial Advice (FoFA) reforms?

As we move to a world where you will need to explicitly ask your clients to pay a fee for your service, the future success of your practice will depend on how well you can articulate the value of the advice you provide.

If you are a Compass financial adviser and part of OnePath's aligned dealer group network, you and your practice staff are eligible to undertake the Practice Leaders - Valuing Advice for Growth program. This program will equip you with the personal and business confidence you need to transition your practice in line with the FoFA reforms, including the switch to fee-for-service and other key practical changes for your business.

Upon successful completion of the program, you will receive 56 Continuing Professional Development (CPD) points from the Financial Planning Association (FPA) of Australia. Read the Value of Advice for Growth course outline to find out more.

The Valuing Advice for Growth program consists of four, one-day workshops spanning over the course of several months, giving you the opportunity to apply the key outtakes from each workshop into your practice.

The program will help you to:

  • define and refine your Client Value Proposition (CVP)
  • segment your client base by revenue
  • define your service offers and keep them documented
  • develop the confidence to have the fee-for-service conversation with your clients
  • develop a profitable fee model and back-end processes
  • create an action plan to transition your business operations by the July 2012 FoFA deadline.

Valuing Advice for Growth is exclusive to OnePath aligned advisers at a subsidised cost of $990 which includes:

  • four, full-day workshops facilitated by OnePath training partners, The Encore Group and Phuel
  • workshop pre-reading guides and workbooks
  • tools and templates to assist with your business transition
  • a 12-month subscription to the Fees4Service.com website, where you can build your advice and ongoing service offers and scenario test pricing and cashflow impacts
  • a copy of The Financial Adviser's Guide to Fee for Service.

Whether you need to develop, implement or validate your FoFA strategy, we are here to help. Visit the OnePath registration site to sign up for Valuing Advice for Growth.