Insurances.net
insurances.net » Personal Insurance » It's Time To Get Personal
Auto Insurance Life Insurance Health Insurance Family Insurance Travel Insurance Mortgage Insurance Accident Insurance Buying Insurance Housing Insurance Personal Insurance Medical Insurance Property Insurance Pregnant Insurance Internet Insurance Mobile Insurance Pet Insurance Employee Insurance Dental Insurance Liability Insurance Baby Insurance Children Insurance Boat Insurance Cancer Insurance Insurance Quotes Others
]

It's Time To Get Personal

It's Time To Get Personal

It's no coincidence that following two years of volatility the local bank manager has reappeared

. Once again you can share a cup of tea with someone paid to know your name, not your account number. Why this renewed commitment to personal service? It's what customers now demand if they're going to give you their hard-earned cash.

This change won't surprise planners. Some may have felt it first-hand as clients, in response to plummeting portfolio balances, question their planner's investment ability.

What planners may not know is that Responsible Investment (RI) advice is one way to create client relationships that are honest, mutually satisfying and based on long-term objectives.

What is responsible investment advice?It's Time To Get Personal


It may in fact be more helpful to explain what responsible investment advice is not. It's not about being an ethical or responsible person. It's not even about meeting obligations to provide appropriate advice based on your client's needs. Such attributes are essential to being a planner (they're legal requirements) but they don't constitute responsible investment advice.

"Responsible investment advice is the ability to create a wealth management plan that achieves a client's financial goals while at the same time supports their personal views regarding issues like how the environment should be treated, what sort of society they want to live in or how companies should act and manage their resources," said Louise O'Halloran, executive director of the Responsible Investment Association Australiasia (RIAA), the peak body for RI in Australia and New Zealand.

How is RI advice different to traditional advice?

Responsible investment advice seeks to create a wealth management plan that incorporates what's important to your client in all parts of their life.

"The client-adviser relationship is stronger when there is an alignment of values - it's a deeper connection than going for the same footy team It is the responsibility of an adviser to manage a client's money to achieve their financial goals in line with their personal values," said Justin Medcalf, an RIAA-certified planner who started his specialist RI advice business, Green Equity Management (GEM), a year ago.

"At the end of the day it's about really knowing your client," said Lisa Greeve, principal adviser for Greeve and Associates in WA, which is also certified by RIAA. "If you really do know your client and take the time to talk with them at length about their values, you will learn of any ethical leanings. It's then about structuring your investment solution to consider their areas of concern."

Greeve now stars her conversations with clients around what they truly value and then works out where money fits in. This is a very different approach to the one she used as a bank planner.

"You can't offer this advice and not be authentic - people will see straight through you if you are just 'greenwashing'. You can't control markets or investment performance but you can understand what's important to your client and design a plan that matches their risk profile and values," Greeve said.

Why should investors care about the environment and society?

Some planners may ask, isn't your role purely to achieve the highest return possible for your client? "My clients don't want to only know the financial performance of a company, they want to know about the company's environmental performance and their employee conditions," said Karen McLeod, a planner with Ethical Investment Advisers, one of the first dedicated RI practices in Queensland, certified by RIAA since 2008."Our clients expect returns that go beyond financials - they want to do good while making money."

RI-trained planners say this is a common position. It's the inclusion of the Environmental, Social and Governance (ESG) considerations that enhance their planner-client relationships, provide a point of difference from other planners and give professional satisfaction.It's Time To Get Personal


"There is also the fact that there are pressing environmental, social and governance issues that you need to protect your client's investments against," cautioned Medcalf.

About Ethical Investment Advisers

Queensland-based Ethical Investment Advisers Pty Ltd is an ethically minded and socially conscious financial services firm that specialises in ethical investments and self-managed superannuation funds. With combined experience of 36 years in the Australian investment market, its ethical investing services include strategy and insurance advice, ongoing management and investment portfolio management.

by: Ethical Investment
How To Hire A Personal Injury Compensation Lawyer Is Hiring A Las Vegas Personal Injury Lawyer Expensive? Hard Work Might Put You In Need Of A Las Vegas Personal Injury Lawyer How To Hire A Personal Injury Lawyer In 3 Steps How To Choose A Personal Injury Lawyer ? Liven Up Your Personal Checks With The Characters From Suzy's Zoo How To Choose The Best Personal Injury Attorney In Atlanta, Ga Quickly A Diverse Range Of Personal Injury Claims Exists Today How Your Clients Conquer Adversity As A Personal Trainer Personal Injury Attorney Bakersfield - When You Are Not At Fault Insurance Quote Without Personal Info Cruises With Personal Injury Lawyers Things To Be Taken Care Of While Choosing A Personal Injury Lawyer
Write post print
www.insurances.net guest:  register | login | search IP(18.209.66.87) Moskva / Moscow Processed in 0.014208 second(s), 6 queries , Gzip enabled debug code: 36 , 4887, 967,
It's Time To Get Personal Moscow