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Some financial advice firms continue to overlook crucial pieces of the puzzle needed to attract and retain talent, a new report reveals. Prepared by Business Health just last month, the ‘Swimming at the deep end of the talent pool’ report breaks down the findings of a compensation survey of Australian advice firms in a bid to better understand what firms are offering their staff in terms of remuneration and benefits.
Much has been said about the Quality of Advice Review recommendation to replace the “Best Interests Duty” with a duty to give “good advice”, and that advisers should be subject to a new “statutory best interests duty”. In doing so, the QAR calls out several failings of BID in its current form.
A productive business is a highly engaged place to work. In a service-based business, like an accounting and financial advice firm, productivity is the outcome of effective technology, processes and people. Yet, the importance of aligned, motivated people often gets overlooked when building productivity strategies.
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