THE BEGINNING OF AFAN
What was the most prominent thing in your mind when you were conceptualising the business?
Our Founders and Directors Ian Macpherson and Craig Ball talk about the beginning of AFAN. Ian asks Craig what the most prominent thing in his mind was when they were conceptualising the business.
As mature advisers who have built relationships and businesses over decades, we are finding that our client’s insurance needs are reducing but they are needing access to additional services such as aged care, bespoke lending, retirement planning and more.
While I never have or ever will give advice on wealth accumulation or retirement planning I am required to undertake studies on these areas in order to continue providing advice in my area of specialisation.
It’s a bit like an obstetrician being required to undertake studies in neurology in order to maintain their occupation as an obstetrician.
The overwhelming feeling from older colleagues is that they are really angry and feel they have lost control, and that neither the AFA nor the FPA have been able to help them.
Advisers are sick and tired of taking the blame for a few bad apples in the industry, we are also sick of the increasing compliance and costs, the reducing income and business valuations.
When they have built relationships and their business over decades and were planning to use the value in their businesses to retire, this is no longer an option.
We do not accept that we have only two options “Get a degree, or get out”