Fortnum creates professional advice framework

Traditional licensee models of measuring adviser performance on sales and revenue are outdated and won't survive the advice industry's transition to professionalism.

That is the view of Fortnum Financial Group, which believes its newly-created professional advice framework will successfully drive Fortnum and its underlying practices into the future.

Fortnum designed the framework to provide advisers with a guide to assist them in delivering quality, professional, client-centric advice to increase business efficiency and profitability, driving sustainable growth.

The framework consists of three foundational pillars that Fortnum believes underpin the provision of quality financial advice and client service; professional principles, professional judgement and professional advice processes.

"In a world of change, it is important to have a professional advice framework to provide the basis of business and advice solutions. Well-resourced, innovative and advice focused licensees are ideally positioned to help advisers prepare for, and capture opportunities to enhance the client experience," Fortnum chief executive Neil Younger said.

"We have established the foundation to call ourselves a professional advice services business and we will continue to focus on the outcome and the standard of advice," Younger said.

In addition, Fortnum managing director Joel Taylor said the framework should provide the basis for advice provided by advisers.

"It is a way to ensure consumers have access to quality advice so that businesses can access the things they need to help them grow and succeed," Taylor said.

Read more: Fortnum Financial GroupJoel TaylorNeil Younger
Editor's Choice
EMMA RAPAPORT
The Productivity Commission has released its anticipated draft report on alternative default models in superannuation, looking at ways to introduce more competition in a system where members do not exercise fund choice.
JAMIE WILLIAMSON
Following research into the future of product innovation and development, Nikko Asset Management Australia has created a new executive role to drive the firm's product agenda.
EMMA RAPAPORT
New-York based financial firm Goldman Sachs is planning to launch an ETF which will invest in high-yield corporate debt, according to documents filed with the US Securities and Exchange Commission.
ALEX BURKE
Two Contango MicroCap (CTN) directors were removed following an extraordinary general meeting and a third resigned prior to resolutions being passed.
Videos
Brought to you by
8 MAR 2017
Having the patience to wait for attractive investment opportunities forms a crucial component to the disciplined, value-based investment approach at Auscap Asset Management. The Auscap Long Short Australian ...
Get it Daily
Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.
SUBSCRIBE
Products
Pocket investment guides featuring adviser case studies and a glossary.
Investing trends and strategies from the industry’s thought leaders.
Putting the spotlight on investment products that matter.
Expert Feed
Christopher Page
FS ADVICE
A new era
After years of back and forth, the legislation to increase the professional standards of financial advisers has been passed. The new ...
Stephen Fay
FS SUPER
Starting at the insurance base camp with focus on value
Insurance can be a complex beast, but in a period where its reputation may be strained it is all the more important to talk of some ...
Christopher Page
FS PRIVATE WEALTH
Redefining the family office
While the family office model has traditionally been the preserve of the ultra-rich, this may be changing very soon. Last week, Findex ...
Michelle Baltazar
FS MANAGED ACCOUNTS
Like rocket fuel to a Spaceship
When a superannuation fund calls itself a Spaceship and nobody bats an eyelid, you know you're entering a new era in retirement investing. Spaceship's ...
Featured Profile
Professional Subscription for $295
(inc GST) for 1 year.
SUBSCRIBE
OTHER PUBLICATIONS
FS Advice
The Australian Journal of Financial Planning.
Get the free iPad app
Download the Financial Standard iPad app for FREE.
DOWNLOAD
Link to something 71ODLvtL