WP TV

WP TV brings you closer to the industry's most influential leaders and thinkers. Click on the videos below to watch the interviews:

Showing 19 - 27 of 33

Convergence of financial service roles to be seen as an opportunity

Financial services in 2013 is seeing the broking and planning professions increasingly converge. This week Wealth Professional caught up with Mark Woolnough of ING Direct for his insights into how this convergence can produce opportunities for planners.

Video transcript below:

Stephanie Zillman:  Financial services in 2013 is seeing the broking and planning professions increasingly convert.  Mark Woolnough of ING Direct says the industry convergence represents an opportunity for planners.

Mark Woolnough, ING Direct
Mark Woolnough:  I think for ING Direct we are trying to follow the trend and keep abreast of the whole financial services world.  Recently with the integration of our Advisor Division and our Broker Division into a true third party distribution model, we are actually able to learn a lot on both sides and to share wisdoms and war stories for want of a better term with the respective partners, as we see that convergence model really working together and promoting a lot of opportunities out there for both planners and brokers.  
 
Stephanie Zillman:  With the FOFA reforms due to roll out as of the 1st of July, Woolnough says the industry changes may have caused a reluctance among planners to enter the mortgage space, but this needn’t be so.
 
Mark Woolnough:  With FOFA planners are still a little bit of shy of looking at mortgages, but they understand the value of diversification.  So we are seeing a lot of brokers potentially having some chances and opportunities to create some networks and to connect with financial planners and I think that spells some good news ahead for consumers.
 
Stephanie Zillman:  While significant opportunities abound for planners willing to expand their skill set, Woolnough adds that entering the mortgage space must be done with careful preparation.
 
Mark Woolnough:  Look, I think there is a select few that can actually pull off the mortgage broker and the financial planner very very well.  We see an element of that within our portfolio, but what you are starting to see now is that professional networks are actually starting to move closer together and they are prepared to talk to one another and potentially still operate under the same brand.  For the consumer it’s just a holistic advice, but it’s more strategic partnerships and joint ventures behind the scenes.  So I think that works quite well when a trusted advisor on either side can forward a referral to their trusted partner and colleague to look after the customer.
 
Stephanie Zillman:  This is Stephanie Zillman reporting for Wealth Professional TV.
  • Aged care advice in demand Aged care advice in demand (views 7945)

    Australia's population is ageing and with that comes a need for good advice. We speak to aged care specialist Brendan Ryan of Macquarie Bank about his area of expertise.

  • Invaluable client advice as budget looms Invaluable client advice as budget looms (views 7304)

    Financial planners are in overdrive as clients look for advice ahead of May's Federal Government budget. We speak to Andrew Zbik of Omniwealth on preparing for expected changes to superannuation.

  •  ASIC answers all of your FoFA questions ASIC answers all of your FoFA questions (views 8561)

    ASIC Commissioner Peter Kell talks to Wealth Professional journalist Donna Sawyer about FoFA and what you need to know about acting in your clients' best interest

  • Summer Series: Perfect your account management strategy Summer Series: Perfect your account management strategy (views 5677)

    Now is the time to get your sales and account management strategy in place for the year ahead. We speak to Doug Mathlin of FrontRunner Consulting Group for his top tips on getting it right.

  • How to be a wealth winner in 2013 How to be a wealth winner in 2013 (views 7228)

    It's been an eventful year for financial planners - and it's just a taste of what's to come. We speak to Mark Ballantyne of Financial Wisdom and Andrew Rocks of Announcer for their thoughts on the challenges you'll face in 2013 and how to come out on top.

  • Finance sector struggles to shake off 'man's world' image Finance sector struggles to shake off 'man's world' image (views 6394)

    The latest eFinancialCareers survey has found nearly two-thirds of the industry believe gender discrimination exists in the workplace - but is it a perception problem? We speak to George McFerran of eFinancialCareers and Nareen Young of Diversity Council Australia for their thoughts on workplace diversity.

  • How to sell your business How to sell your business (views 6798)

    The financial planning industry is gearing up for a mass exodus ahead of FoFA - but there are a few things you need to know if you're selling your business. We speak to Mike Stewart of Radar Results and Anthony Hunt of Hunts' Group for the dos and don'ts of the sale process.

  • Platforms weigh in on opt-in debate Platforms weigh in on opt-in debate (views 8249)

    Platforms move to lobby Canberra as consultation begins on opt-in. We speak to Connie Mckeage of OneVue and Kelly Power of BT for their thoughts on the proposed regulations and what planners can do to prepare for implementation.

  • Advisers angered by FSC proposed churning policy Advisers angered by FSC proposed churning policy (views 9096)

    The FSC's proposed churning policy has ignited a furore among financial planners who say it unfairly targets honest advisers. We speak to NSW AFA Director Marc Bineham and Sulieman Ravell of Funds Focus for their thoughts on the controversial proposal.