Yesterday we announced that the Find An Adviser solution on the new ASX website is powered by Adviser Ratings, with advisers from Canaccord Genuity, Morgans Financial and Ord Minnett featured initially. Several other stockbroking firms will launch shortly with the potential for over 2,000 financial advisers to be ultimately showcased, winning free leads from the pool of more than one million unique visitors per month.
It coincides with the release of the ASX 2020 Investor Study that confirmed 84% of advised investors found their adviser helpful during COVID-19, while 63% of non-advised investors were open to getting advice in the future. Confirming there are still barriers to overcome, 25% of investors said they could not find a suitable adviser.
This ASX result follows our initial SAAS Find An Adviser white-label for AustralianSuper, which features a wide selection of third party “preferred partner” advisers. This site has already generated substantial traffic to those advisers over the last 12 months.
These two partnerships and we trust the many others to follow in the future, make advice accessible for more Australians. It is consistent with our company mission to grow the penetration of advice within the community, in turn introducing new opportunities to financial advisers, and to build trust and transparency in the advice industry.
We are excited about how this white label service has great utility to reach different consumer demographics with varying advice needs. Examples of this include:
- Life insurers, struggling with growing books of orphaned policy holders, typically wealthier and approaching pre-retirement
- Smaller industry super funds with members concentrated within single industry sectors with common generic risk profiles
- Administration platforms, dealing with growing pools of orphaned investors
- Larger fund managers, growing their consumer profile with listed product but not able to handle direct investor inquiries
- Subscription-based organisations, seeking to add value to their memberships
- Employers, seeking to improve employee engagement by offering financial well-being programs to all staff
For advisers, we strongly encourage you to claim your profile on Adviser Ratings to expedite or improve your chances of being included in these solutions. Every white-label client will generally have different target audiences and therefore different criteria for the advisers they want to feature. However, the one thing they all have in common is that they want advisers with completed profiles and a willingness to engage with new customers.