It is times like these that makes the real value of the Dealer Fees you are paying obvious. This can be quantified by looking at the level, timeliness and relevance of support that your licensee provides to both you and your clients in such unprecedented times.
Most recently at Futuro, clients have been provided with tangible support in areas like:
- Practice owners supplied with an in-depth understanding of their legal obligations to their employees as we all moved to a remote office capability.
- Templated notices, which advisers can edit, to send to clients outlining how relationships can be conducted remotely.
- How compliance obligation can be met in a self-isolating business environment.
- Key partners have been asked to demonstrate how they are going to support our networks.
- Webinars and meetings have and will continue to be undertaken for the adviser networks with our asset consultants and managed account provider.
- Initiatives have been put in place that will significantly lessen the impact on our advisers. Items such as high-level legal opinions on a diverse range of topics such as, rights as a tenant and how to manage the landlord.
- Suggestions on how to manage the actual client meetings.
- Comprehensive fortnightly reporting from our Investment Committee detailing changes to the portfolios to mitigate client risks.
Importantly, those advisers who have not experienced a major downturn are being coached and supported through, what for them is unchartered waters, on ways to communicate with the clients through these difficult times.
All of this is assisting our networks to provide their clients with a level of comfort and to protect their practice income by strengthening client relationships into the future. In the end there are AFSL’s who simply provide a license and those that truly offer support.