Russell Hutchinson has recently been approached by several risk advisers keen to learn more about diversifying revenue streams and reducing the exposure of your business to a single revenue type – commission. This has undoubtedly been highlighted by the MBIE review of FAA/FSP. Aligning revenue to the client that you serve reduces conflicts of interest and can create a more professional environment for the provision of broader financial advice from a risk perspective.
Investment advisers have been the main source of information about adopting fee-based models. However, there are practical differences in the process of providing advice on risk and financial risk transfer through the use of insurance and investment advice processes.
Advisers wishing to explore the process of incorporating fee for service models in a facilitated workshop where every participant brings ideas and contributions should contact Russell. He is keen to run the workshop (free of charge) for a group of a maximum of twelve participants in Auckland, and a similar number in Wellington if there is demand.