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Australian Unity Personal Financial Services given 98 percent approval rating by their advisers

09 Sep 2015
In a recent formal survey of their practice principals, Australian Unity Personal Financial Services was given an almost unanimous vote of confidence.

Chief Executive Officer of Australian Unity Personal Financial Services, Mr Steve Davis, said the licencee scored highly in all key areas.

“In terms of how happy the practice principals are with our overall service to them, 63 percent of advisers said ‘highly satisfied’, and 35 percent said ‘satisfied’.

“To the question of whether our advisers would recommend another adviser to join us, 68 percent said ‘highly likely’, and 17 percent said ‘likely’, with 15 percent saying ‘possibly’.

“Further, as to whether our advisers think our support, guidance and service represent good value for money,  88 percent responded with ‘usually’ to ‘always’.

“And 87 percent indicated we add value to their practice ‘usually’ to ‘always’,” Mr Davis said.

He added that a large number of Australian Unity’s specific services and cultural imperatives were given approval ratings of over 90 percent.  These included:

The helpfulness of our staff
Tailoring our services to match advisers’ needs
The reliability and responsiveness of our services
Technical and strategy support
Compliance reviews and assistance
FDS service
Investment and asset allocation assistance
The quality of our Approved Product List and investment research
Model portfolios
Marketing tools
Xplan functionality
Help with using Xplan
Client and COI newsletters
Guidance on developing centres-of-influence relationships
‘Best practice’ service
Annual conference
Professional Development Days
Admin academy
Brokerage assistance
Assistance when new regulations are introduced
Keeping advisers informed about issues that will affect them
Delivering on our promises
“The survey results are very pleasing and strongly confirm that we have a very attractive model for advisers, particularly as we are a mutual organisation focused on helping our advisers, and not a bank or life insurance company.

“Our relationship with our advisers is based primarily on a full service offering, with a broad open-architectured APL for wrap accounts, direct and managed investments, and risk insurance.

“And, importantly, we never rest on our laurels and we never take our advisers for granted.  We are always looking at ways to improve our service to our advisers, and building new services which can help our advisers become more efficient and profitable, and provide a better value-add service to their clients.

“The results from this survey reinforce those from an independent industry-wide survey* in 2013 which rated Australian Unity Personal Financial Services the number one dealer group in Australia for adviser satisfaction.  AUPFS scored 90 percent overall which was well ahead of the industry average of 68 percent,” Mr Davis said.

Australian Unity Personal Financial Services currently has 101 planning practices, 183 advisers and 22 mortgage brokers operating in all mainland states and the ACT. 

*The service quality scores were derived after researching a representative sample of advisers from each of the AFSLs for 19 service factors; the scores were then weighted in line with the importance of each of the nineteen service factors. 1,015 advisers contributed to the national research project in June 2013 conducted by Tepana Financial Indices.

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