That said, Australia seems to be leading the way in direct client communication and marketing strategies with digital communication platforms catering for a new type of existing client that has recently become digitally engaged following COVID 19, and demanding more online information from their providers to help them make an informed decision.
Looking into the future and the future generational needs of prospective clients, having the digital and automated communication capability to engage with existing and new clients will be a crucial aspect of an organisations client retention and growth strategy.
Australia’s geographical range between major cities has certainly helped minimise the impact of COVID 19 in my opinion and already things are starting to get back to normal in financial services as opposed to the UK where revenue retention strategies will be paramount for institutions and IFA businesses as the full economic impact of furloughs tailing off comes to fruition.
Yes, COVID 19 seems to have impacted financial services in the UK more than Australia; however, the UK should be proud of the fact that we are seeing the green shoots of growth in people that want to become a financial adviser.
It’s also very pleasing to see the growing number of advisers becoming chartered, compared to a reversing trend in Australia that reminds me of the post RDR reforms back in 2012, if that’s the case then it could be quite a few years before we see the same green shoots of adviser growth.
About Tony Beaven MBusLship, CMgr, FIML, GAICD, CCBI, CCRP, Dip, PFS
Tony is currently CEO of an award winning international consultancy business, specialising in Governance, Risk and Compliance oversight for financial institutions, in the UK and Australia.
He has extensive experience in the design and implementation of SME restructures and cultural frameworks having successfully implemented a number of change transformations throughout financial institutions, internationally.
Tony is also a subject matter expert in Organisational Change, Leadership, Ethics and Strategy having presented to the Australian Institute of Business and the Governance Risk & Compliance Institute of Australia on leadership, Governance and Ethics.
His diverse skill-set includes Neuroplasticity and soft skills training in financial services, innovation, brand marketing and digital communication strategies at individual and institutional level.
Tony’s Educational Profile
- Master of Business Leadership (incorporating HRM, Strategic Management, Business Ethics, Organisational Change, Diversity) Charles Sturt University
- Chartered Manager, Chartered Management Institute
- Professional Banking Diploma, Chartered Banker Institute
- Regulated Level 4 Diploma in UK Financial Services, Chartered Insurance Institute
- Professional Mortgage Adviser, Chartered Banker Institute
- Graduate of the Australian Institute of Company Directors
- Fellow of the Institute of Managers and Leaders
- Certified Compliance Risk Professional GRCI
- Grad Cert in Compliance and Risk Management GRCI
- Advanced Diploma in Financial Planning (Financial Service) Kaplan
- Self Managed Super Fund Accreditation, Kaplan
- Responsible Manager accreditation, Kaplan
- Nominated for the categories of: Thought Leader & upcoming Leader award, Finsia Leadership awards, 2011.
- National Leadership Award AMP Financial Planning, Australia, 2011
- Compliance Professional of the year, Governance Risk Compliance Institute of Australia, 2018.
- Brian Sharpe Memorial award for Innovation in Governance Risk and Compliance, GRCI, 2019. (White Paper on Ethical frameworks and influencing the culture in organisations).
- Finalist for the categories of Mentor of the year and Fintech thought leader of the year 2019, Australian Fintech Business Awards