FSLAA implementation impacts snippet
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Implementation of FSLAA will probably cause some advisers to leave the sector. How many? We provide two snippets of our work on modelling losses. We have more...
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FSLAA implementation impacts snippet
- 1. www.chatswood.co.nz www.basenz.co.nz FSLAA implementation impacts Two quick snippets of FSLAA implementation impacts work
- 2. www.chatswood.co.nz Financial Services Management Consulting Adviser motivation and capability The big question is – how do you assess these factors? I think the answer is to rigorously test capability, and the extent to which there is engagement, tells you about motivation… … but only with regard to your brand, of course!
- 3. www.chatswood.co.nz Financial Services Management Consulting Modelling losses through transition We considered the numbers of risk advisers at different levels of production and then modelled different rates of loss through three transition points: entering transition, leaving transition, and post-transition. • Starting with a pool of roughly 4,320 (AFAs and RFAs) producing about $128 million of new annual premium in sales each year we considered the numbers of leavers. • Losing the first 50% of advisers reduces production by only about $8m. Losing a further 25% (540) advisers reduces production by a further $8m. • Not all production is lost – some of these advisers would switch to become nominated representatives in Financial Advice Providers. If you would like to review the model, please ask me for a copy.
- 4. www.chatswood.co.nz Financial Services Management Consulting Chatswood Consulting Fran Hutchinson Database analyst BEng Kelly Pulham Business development manager BSR Russell Hutchinson Director, strategy, sales and marketing consulting MBA, GDipMktg Jerusalem Hibru Marketing assistant BCom, MMktg Rob Dowler Consultant, industry and compliance BA, BSC, Dip. Bus. Studies (Personal Financial Planning) Shaun Dowler Consultant, data science BE, PhD Wanyi Yang Consultant, financial analysis MIntFin, PHD
- 5. 5 THANK YOU! © Chatswood Consulting Limited Visit us at www.chatswood.co.nz This presentation is a confidential publication. This material is Copyright. No reproduction permitted in whole or in part except without the prior approval of Chatswood Consulting Limited and BASE. Public reference to material in the report requires reference to Chatswood Consulting Limited and must be sought and received in advance. While every effort has been made to ensure the accuracy of the information contained in this document, Chatswood Consulting Limited take no responsibility for actions undertaken by readers that may have been made either in whole or in part on the basis of the information contained in this report.