The Dwindling State of Risk Advice
Risk advice in Australia is at a crossroads. Despite its critical importance, recent data, like that from Adviser Ratings, paints a worrying picture: just 493 advisers driving 50% of new risk business sales. That’s not just a statistic; it’s a call to action.
We recognise the immense value that risk advice brings to the table, not just from a financial standpoint, but as a vital safeguard for Australians against life’s unforeseen challenges. It’s clear: we need more advisers to incorporate risk advice into their practice. But it’s not as simple as it sounds. With an evolving industry landscape, there are myriad hurdles and complexities that practices face daily.
Bridging the Gap with Risk Hub
It’s this very challenge that spurred the creation of Risk Hub. We aim to make a difference, guiding advisers through the intricacies of risk advice, providing them with the tools, resources, and insights they need.
Piloting with LFG
One crucial step in this direction is our collaboration with Loyalty Financial Group (LFG). Together, we’re delving deep into diverse business models, identifying unique challenges, and devising tailored solutions. Why? Because every adviser, every practice, has its own story, its own set of challenges, and deserves a bespoke solution.
A Collaborative Approach
I’ve always believed in the power of collaboration, and the initial feedback from the Loyalty network only reaffirms this belief. There’s a genuine interest for growth in risk advice and a keen desire for support. We’ll be excited to share more insights from this feedback in the coming weeks.
Risk Hub’s Broader Vision
Now, while our partnership with LFG has garnered media attention, and rightfully so, I want to emphasise that our vision extends far beyond. Risk Hub is for the entire industry, every adviser, every licensee. Our mission is to collectively support the growth of risk advice landscape in Australia.
In closing, if you’re as passionate about risk advice as we are, I invite you to join us on this journey. Let’s share our experiences, learn from one another, and work towards a future where more Australians have access to risk advice.
If you have personal experience, stories or tips you’d like to share – feel free to get in touch! <Contact Us>