AFA LIFE INSURANCE ROADSHOW 2015

Transcription

1 Great advice for more Australians INVITATION TO THE AFA LIFE INSURANCE ROADSHOW 2015 Facing into Transition Who should attend? All advisers on life insurance Practice managers Licensee leaders BDM s and PDM s EARN UP TO 3CPD POINTS PJ Byrne, finalist in the AFA Adviser of the Year 2014, and risk advice legend Russell Collins OAM, head the speaker list for this valuable workshop that will explore the threats and the opportunities brought about by the Life insurance Framework. If you advise on Life insurance, you need to attend. Event Partners

2 Welcome & Introduction Brad Fox AFA CEO Where & When Facing into Transition The changes announced in the Life Insurance Framework (the Framework ) are the most significant disruption to the life insurance advice market for decades. Advisers, particularly those that own their own practice, are facing challenging decisions about their future and the AFA Life Insurance Roadshow Facing into Transition will workshop the critical issues, options and opportunities. The Framework doesn t give us all of the outcomes that we thought were fair and reasonable, but we were able to retain hybrid commissions in the face of strong opposition from government, the Financial System Inquiry, consumer groups, mainstream media and the Trowbridge Report. As the detail of the framework is worked out we are continuing to lobby on issues like clawback. In the meantime, advisers providing risk insurance advice need to move forward and adapt to the Framework. This roadshow is focussed on exactly that. y How can fees be combined with hybrid commissions? y How can lapses be minimised in the first three years? y How can cash flow be managed? y What new conversations and strategies do advisers need to develop? The panel of presenters to support the workshop include a leading psychologist, David Peake to help overcome mental roadblocks to change. Sue Viskovic will bring to life different business and remuneration models demonstrating cash flow impacts and business valuation advantages. Russell Collins and PJ Byrne will then take the theory into practice and talk about implementing real changes to your business and to your advice conversations. Finally, we open the thinking up to all attendees as our experts form a panel to interactively discuss your thoughts and concerns. This roadshow workshop is the right place to start shaping your own answers on how you will continue to provide valuable life insurance advice. WEEK 1, AUGUST 2015 WEEK 2, 1-3 SEPTEMBER 2015 HOBART 10.00AM PM *please note different session times Tuesday 25 August 2015 Wrest Point Convention Centre 410 Sandy Bay Road, SANDY BAY TAS 7005 ADELAIDE 8.00AM PM Wednesday 26 August 2015 The Ellington 23 Hackney Road, Hackney SA 5069 PERTH 8.00AM PM Thursday 27 August 2015 Parmelia Hilton 14 Mill Street, Perth 6000 WA MELBOURNE 8.00AM PM Tuesday 1 September 2015 Crown Melbourne Studio 3, Level 3, West End, Crown Melbourne 8 Whiteman Street, Southbank SYDNEY 8.00AM PM Wednesday 2 September 2015 The Westin Sydney 1 Martin Place, Sydney NSW 2000 BRISBANE 8.00AM PM Thursday 3 September 2015 The Gabba Gate 1, Corner of Stanley and Main street Woolloongabba QLD 4102 Morning Tea provided at each location (working lunch in Hobart) Price AFA Members: $35 Table of 10: $350 AFA Non Members: $80 AFA Life Insurance Roadshow 2015 Page 2

3 Programme Overview The event will run from 8.00am pm MC Brad Fox, AFA CEO Please see overleaf for full synopsis 8.00am 8.15am 8.45am 9.25am 9.50am 10.35am 11.20am Arrival PROFESSIONALISM & LEADERSHIP ADVISER Morning Tea BUSINESS ADVISER ADVISER AND BUSINESS Facing into transition Brad Fox, AFA CEO The forces of disruption The life insurance framework How are client expectations changing? Change how will you cope? David Peake, Organisational Psychologist, Team Gene Tools to see new possibilities How to identify and remove barriers to change Reinforcing new behaviours for you and your team Examining the reality of less cash flow, alternative remuneration models and business valuations Sue Viskovic, Elixir Consulting What financial impacts are likely and calculate how it affects you Practical examples from different businesses What it costs to provide insurance advice and ways to get paid for it Putting the theory into practice making a success of the new world for risk advice PJ Byrne & Russell Collins OAM, Two leading advice experts discuss how they see the change New conversations that encourage the acceptance of fees Avoiding the pitfalls of clawbacks Interactive workshop to explore your questions and plans to change Brad Fox will moderate an open discussion drawing on the panel of experts to respond directly to issues and ideas raised by attendees. Event Partners We are very pleased to have the support of the following partners for this event. AFA Life Insurance Roadshow 2015 Page 3

4 Programme synopsis Brad Fox AFA Chief Executive Officer Facing into transition Brad Fox, AFA CEO and a former financial adviser, will discuss how financial advice is going through a period of disruption that necessitates advisers to consider new approaches and business models. The life insurance framework is only one of the significant forces of change to be considered. We are at a tipping point. The history that led to the Framework including the negotiations that took place, the political pressure for change, the compromises that were made and the implications for advisers and their businesses, clients, licensees and insurers will all be considered. David Peake Organisational Psychologist, Team Gene Change how will you cope? David Peake is a passionate Organisational Psychologist and has been assisting organisations to transform, grow and re-engineer their businesses for over 20 years. His involvement in the roadshow is to help advisers identify and remove their own barriers to change. Behavioural patterns and biases live within each of us it s what makes us resistant to change, to new ideas, to innovation and ultimately to transformation. Advisers will benefit from learning the tools that will allow them to see new possibilities and alternative solutions to problems. These tools are essential for advisers looking to renew the advice, fee and value models they use with their clients. Sue Viskovic Elixir Consulting Examining the reality of less cash flow, alternative remuneration models and business valuations Sue Viskovic is Australia s leading provider of independent research into adviser pricing models. The Life Insurance Framework poses a number of difficult challenges for advice practices around remuneration models, including how to deal with the introduction of a three year responsibility period. Sue will bring both research findings and case studies that demonstrate a range of solutions for advisers to consider on how to prove value and receive appropriate remuneration for life insurance advice. This includes a How to Guide for a practice to transform from their existing model to a sustainable, profitable model for the future. The balance between cash flow and future business value is critical. Brad commenced as the CEO of the AFA in Jan Previous to this Brad was a practice owner and adviser and spent 5 years as an AFA Board Member including 2 years as the AFA President and was the inaugural chair of the Genxt initiative. He has demonstrated his leadership skills consistently since winning the AFA Rising Star Award in 2008 and brings both passion and foresight to the advice landscape. Brad attended the Stanford Graduate School of Business Executive Education Strategic Leadership Program in 2012, holds the FChFP and a B.Bus (Econ & Fin). David is currently the CEO and Co-Founder of Team Gene Pty Ltd, a boutique business consultancy linking capability to strategy for effective business transformation. David has worked across many industries including banking and finance, insurance, financial planning, government, mining and healthcare. David has specific expertise in Strategy, Leadership, Change Management, Cultural Change, Business Transformation, Process Re-engineering and High Performance work teams. In addition, David is one of a handful of consultants who have extensive knowledge of the Australian Leadership Archetype study, a 2-million dollar cultural imprint study revalidated in 2011 that identified the specific cultural drivers that motivate Australians to engage at work. Sue Viskovic is the Founder of Elixir Consulting; a proud mother of four; a CFP, a sought-after speaker; a business coach; and author of a number of books and programs designed for advisers. With over 15 years experience in financial services, with roles spanning banking, funds management, advice and licensee services, Sue has built her career and her business on helping financial advisers, accountants and risk specialists to improve the way that they run their businesses and deliver advice. Sue founded Elixir Consulting 7 years ago and has grown it to a national organisation with a team of people providing training and coaching to advisers around the country. Sue is also the creator of the Juice Console, a business planning and management software system that is used in advice businesses all over Australia. AFA Life Insurance Roadshow 2015 Page 4

5 Programme synopsis PJ Byrne Mr Insurance Peer to peer learning has always been a key attribute of the AFA and 2014 Adviser of the Year finalist PJ Byrne from Mr Insurance will bring a wealth of practical experience to share with advisers. PJ moved his practice to a combination of fees plus hybrid commission in January this year and has never been more successful at finding the right clients and convincing them to implement insurance solutions. It hasn t all been easy though and PJ will talk advisers through his personal challenge in adopting a different remuneration model. Russell Collins OAM Risk Insurance Communication Skills Russell is the master of the client conversation with over 40 years experience and recently released his book Skills that Succeed: A Communication Guide for Risk- Based Financial Advisers. He will bring powerful examples of how to demonstrate value to a future client that means they will accept paying a fee and won t shop you on price. Specifically Russell will offer suggestions on conversations that create long term client commitment and significantly reduce lapse rates, especially early in the life of a policy. PJ leads the Mr Insurance team. His knowledge of the insurance industry runs very deep. He has more than 15 years experience finding the right insurance solutions for families and their businesses. His advice is always tailored to suit the needs of the client he is serving. PJ personally attends to the needs of his clients, from providing advice and information through to assisting with claims management and completing the annual review, he makes himself available. PJ has personally ensured more than $10million in claims have been paid to his clients promptly. Outside of helping clients PJ is married to Meaghan and has two young daughters Sienna and Matisse. PJ is a passionate fisherman that according to his stories even catches a few. PJ enjoys getting away with the family in their small caravan or exploring on his mid-life crisis Harley Davidson. Russell operated as a Financial Adviser in the Risk Insurance market from the time he entered the Financial Services Industry in February 1971 until his retirement as an Adviser on 30 June He qualified for the prestigious Million Dollar Round Table in 1972 and attended his first MDRT meeting in In 2012, he attained 40 year membership within that organisation. He is a Life Member of MDRT and a member of the MDRT Honour Roll. He holds the Diploma of Life Insurance through Deakin University. In 2003 he was awarded the Association of Financial Adviser s (AFA) Inaugural Award of Merit, as well as Life membership of the AFA, and was also awarded the AFA s highest honour the Michael Murphy Award in Russell has spoken on the subject of Risk Insurance at numerous State and National AFA conferences, the 2009 FPA Conference, and at the MDRT annual convention more times than any other Australian. There is no one-size fits all approach to the future so the AFA Life Insurance Roadshow Facing into Transition will conclude with an interactive Q & A session where our presenters plus a senior representative from each of the roadshow partners will be available to field questions from the floor. This is a chance to float your own ideas around solutions, or particular challenges that you may have and add to the thinking about how to create a positive, successful future for life insurance advice. Specific issues like new entrants to advice, starting a practice, business valuations, regional challenges and employee remuneration as examples could all be brought up for discussion. AFA Life Insurance Roadshow 2015 Page 5

6 AFA AFA National National Partners Partners Platinum Silver Bronze Member Benefits Diamond Ruby Sapphire Family of brands Family of brands Family of brands Financial Planning Media Partners The AFA would like to thank and recognise the following companies for their support (July 2015) AFA Life Insurance Roadshow 2015 Page 6