Quality debt and cash flow advice significantly improves client retention and is the key that opens the door to a customers’ whole financial world.
For an AMC who settles 1 home loan per week/4 per month/48 per year:
Upfront revenue of
in year 2
Based on an average home loan of $350,000
Rothman, G and Wang, H 2013, ‘Retirement income decisions: Take up and use of Australian lump sums and income streams’
‘Debt is money owed. Debt is a restriction. I want to pay back as quickly as possible.’
‘We don’t like owing. We have mortgage stress. I’d have sleepless nights thinking about the interest we are paying.’
In 2014, 600 advisers attended debt education sessions learning how they could better support customers.
93% of workshop attendees were satisfied or very satisfied with the debt education program, support and tools.
‘It’s at the front of most people’s minds so it’s a service that our clients cannot do without.’
‘Enables us to look at the full spectrum of advice across all areas and not limit those discussions to risk, superannuation and investment.’
‘I am really confident now because I know that I can deliver value and give my customers something they want. I am not “reaching” during the annual review.’