Disqus - Latest Comments for NobbyK

Re: AFA Slams Lack of Evidence, Generalisations in QoA Review Submissions

NobbyK — Tue, 12 Jul 2022 21:27:23 -0000

Perhaps if CHOICE has a problem with life insurance and who buys it or it's sold to, I could refer them to the families of people to whom I delivered claim cheques. The problem with life insurance is that it is generally not enough at the time.

Re: ‘Flawed Logic’ in QoA Review Submissions – AFA

NobbyK — Tue, 05 Jul 2022 17:39:57 -0000

Ofcourse CHOICE would complain about commission being inappropriate, so perhaps now CHOICE could become either an underwriter for acceptable insurance or be held liable for the demolition of insurance offers to suitable clients. As for the ISA, being a union industry representative organisation, they only want insurance inside super so they can can offer automatic inferior cover which would lapse when a member leaves their fund. Once again they all show their juvenile attempts at logic. Little wonder there is no respect for these organisations! All of whom ofcourse depend on member funds and fees to pay their salaries!

Re: Cairns Post jumps gun with Cape closure story

NobbyK — Mon, 22 Mar 2021 04:59:01 -0000

Thank goodness I've been lucky enough to have visited the Tip a few years ago, after having been through all the other places to visit along the way.
Given the opportunity, I would be excited to jump into a 4WD and drive up there again tomorrow. But if this story is true, then I wouldn't bother wasting my fuel going past Cooktown. The whole trip was about getting to the tip with everything else being a bonus along the way.
This decision to close off the Tip for whatever reason will only serve to drive a further wedge between travellers and aboriginals who were original inhabitants, not owners.
Without the support of travellers and the Australian government, aboriginal communities will lose the income and opportunities. This country belongs to all who live in it.

Re: Underinsurance in Australia – a Life Underwriter’s Perspective

NobbyK — Thu, 27 Aug 2020 21:45:49 -0000

The need for insurance is on display every day. As if Covid wasn't a reason enough to have insurance, the storms in Melbourne last night unexpectedly took 3 lives.
Insurance is not for 'if' but 'when' and few people can predict when their time is up. Insurance in any form is a waste of money unless it is in place when it is needed most. And then it is the most valuable money available EVER! When I started as an insurance agent in 1987 my education with the LUA required that I go speak with a widow or widower. I was 'lucky' in as much as my next door neighbour was widowed and I spoke with him about his experience. He revealed how the insurance on his wife allowed him employ someone to look after his two baby girls and bring his mother into his house. There was lots more, and during my time as an advisor, I learnt the stories first hand when I delivered cheques and condolences. I never doubted the value of the work I did and neither did those families or payment recipients.
If people need to understand the role of insurance and why they should be lining up to buy it, they should speak to someone who has benefitted from it. Insurance is only of value if it is in place on the day it is needed, and even then, it is never enough. But it's better than nothing and only pennies on the pound!
I left after 20 years because bureaucracy had gone stupid and I couldn't speak to my clients in simple English without documenting everything. I so feel for the people who have remained in the industry because they continue to be hounded for doing their job and have roadblocks continuously thrown across their path. The banks have come into the industry, made a cash grab for profit, and jumped out before being lashed with legislation. It's come back to bite them.
The oldest company has treated their advisers with disdain and disrespect whilst devastating lives built on reputation, loyalty and trust.
Insurance will always be needed and it's a shame the governments have followed minorities to the point where being an insurance adviser has become a distrusted occupation. But to those who have received the benefit of what insurance has done for them will forever be grateful they paid the premiums! All thanks to the men and women who forged the path!

Re: Call for Re-Think on Risk Commissions

NobbyK — Tue, 04 Aug 2020 19:08:56 -0000

This is the problem when you have those who have no idea, trying to impose on those who are doing it!

Re: Agile Financial Planning: Profit and Purpose

NobbyK — Wed, 18 Dec 2019 07:59:57 -0000

Gone from selling the product to selling the dream.

Re: Confirmation of Risk Adviser Numbers in Decline

NobbyK — Tue, 01 Oct 2019 19:51:19 -0000

That research should send a pretty clear message!

Re: AFA Stands Firm on Risk Commissions

NobbyK — Fri, 08 Feb 2019 01:10:27 -0000

They aren't sucking up for re-election!

Re: Sqribble Review vs Designrr

NobbyK — Fri, 09 Nov 2018 01:20:43 -0000

Great comparison review. I couldn't believe how similar Sqribble came across to being a clone of Designrr.
Oscar Wilde said "Imitation is the sincerest form of flattery that mediocrity can pay to greatness!"
However intellectual theft should be rewarded with just reviews!
You get what you pay for, and Designrr is miles ahead and original.
Quality is what remains long after the price is forgotten! - Sir Frederick Henry Royce (Rolls Royce)

Re: Why should you save money when borrowing is an easy option?

NobbyK — Mon, 23 Jul 2018 01:12:31 -0000

Savings is a must for the long term. Ensuring debt is kept to a minimum and eliminated as quickly as possible is the secret. All valid points.

Re: Government to Boost ASIC Banning Powers

NobbyK — Tue, 24 Apr 2018 02:37:41 -0000

Don't ya just love the way politicians jump on the bandwagon to impose penalties and jail threats when they themselves are so incompetent! Yet nothing happens to them!
They still walk away with lifetime pensions and benefits paid for by taxpayers!
Seems the law is an ass and made for those who impose it and those who suffer it!
All consumers suffer it!

Re: Advisers Waiting for More Clarity on New Education Requirements

NobbyK — Tue, 27 Feb 2018 17:21:11 -0000

May as well join the young kids who get all their questions answered just being in Facebook groups!

Re: Value of Advice Moving From Sale of Insurance

NobbyK — Wed, 21 Feb 2018 19:18:51 -0000

There's plenty of experts in America an globally watching whats happening in Australia so they can learn and perpetuate the mistakes.
Such as in England which is now reversing the previous harsh and cruel impositions so financial advisers can again earn a living.
People like Michael, while well meaning, have used the power of the platform to speak and become noticed. Nothing wrong with that and perhaps more Australians should do it in order to also put across their own point of view. Rather than denegrate the opinion of one person who considers himself knowledgeable on a subject and puts forth is own opinion, get on the front foot and step up with your opinion on why the opposite is true and correct.
Until then, the opinions of people lie Michael will always be considered as gospel while others sit there seething in frustration about their own opinion.
What is happening in Australia is also affect overseas advisers, and the regulators often find it is easier to emulate what some other government has done because they think it must be right.
The biggest problem is that those who have no idea (politicians) are overriding the lives of those (advisers) doing it every day.
Regulation to protect consumers is one thing, but draconian imposition by temporary politicians is a waste and does not benefit those who need it most - the consumer!

Re: Existing Advisers Will Require Study: FASEA

NobbyK — Wed, 21 Feb 2018 19:07:22 -0000

The uninformed, uneducated, unqualified and unemployable politicians imposing commands on how people must live and work.
I thought we lived in Australia, not North Korea, China or Russia.

Re: ASIC Uncertain All Direct Insurance Covered by LIF

NobbyK — Tue, 28 Nov 2017 19:55:21 -0000

Little wonder that a banking investigation is being fought off and dismissed.

Re: Advisers Deserve Credit But Need to Achieve Higher Standards

NobbyK — Mon, 16 Oct 2017 21:23:22 -0000

Boy - what a put down in her comments about financial advisers.
At least advisers have gone through education and years of experience, whereas this woman got her position through default without experience or education!
Why is it that advisers have to be held to such a high standard of accountability when we have politicians have no idea?
I'd much rather admit to being a used car salesman than a politician. What a disgrace!

Re: Advice Regulation to Cost $30 Million

NobbyK — Tue, 10 Oct 2017 17:25:50 -0000

Does ASIC charge accountants and lawyers, doctors and dentists, mortgage brokers and bank managers a fee for overseeing their legalities?
Then why pick on advisers and adversely affect the Australian consumer with more costly advice which is likely to lead to less advisers in the industry, and more underinsured consumers.
This is just the government offsetting costs and imposing overarching control.
Meanwhile the fools in Canberra continue to fiddle while Australia burns. Bloody idiots!

Re: ASIC Defends SoA Disclosure

NobbyK — Tue, 05 Sep 2017 18:11:58 -0000

It is understandable that people who have no idea on how to sell something would impose their ignorant views on others. When building a house, you need the plans and quantities before you can place a value on the costs.When buying a car, you find out which car you want and need first before discussing the price. A doctor will diagnose a patient before recommending a course of action and then charging for the consultation.
Why then do ASIC and incompetents in government think they know better than those who are doing the real work in the community.
The commission and fees and charges come at the end of the sale.
UNLESS - someone is charging fee for service in which case they will quote a fee to be paid before any work starts.
Imagine going in for heart surgery and the doctor asks for the payment upfront!

Re: KeywordXP Pro: Get Found In Google

NobbyK — Sun, 27 Aug 2017 08:02:40 -0000

What is the difference between KeywordXP and KeywordXP PRO?

Re: Jury Still Out on Future for Risk Advice Specialists

NobbyK — Thu, 29 Jun 2017 02:34:11 -0000

I don't entirely disagree with you BKY. I do agree that most people globally don't want to pay fee for service on risk.
What I am saying is that there is another way to present it so that it makes it far more palatable and acceptable.
It has nothing to do 'hocus pocus positive affirmation'. Don't forget, I still agree with commissions and I am on your side. But there is also a reality. Rather than fight the bastards, find another way.
Get in touch with me and I'll show you something and then you can decide.

Re: Jury Still Out on Future for Risk Advice Specialists

NobbyK — Wed, 28 Jun 2017 23:02:29 -0000

BKY ... thank you for reading my comment. Please allow me to say first of all that I haven't been an adviser since 2006. Many I speak to say i was smart at the time. I got out after 19 years when the industry went stupid with compliance and fortunately just before the GFC.
However, I still have a very strong alliance with advisers as well as clients.
I appreciate everything you have said DKY, but perhaps you might like to read response to Jeremy. Feel free to get get in touch direct if you prefer.

Re: Jury Still Out on Future for Risk Advice Specialists

NobbyK — Wed, 28 Jun 2017 22:55:58 -0000

Thanks for responding Jeremy, and I agree with you. The public are horrendously underinsured, but they have been brow beaten with all the bad publicity and media surrounding the 'Insurance/Financial Services' industry.
I also agree that commission is a great way to be remunerated for the sale of a product or service.
What I am saying Jeremy, is don't talk to prospects about insurance first. Talk to them about what they want, not what they need.
Imagine if I was a travel agent and you and your wife were sitting with me to plan a trip. You have come to the office knowing it is going to cost you money, but you do it anyway. But I talk to you about the places you'd like to go, the sort of weather you'd like to have, the sights you'd like to see, how much time you'd like to be away for and how you'd like to travel around.
Once we have sorted out where you are going to go, I'll talk to you about the paces you can visit, where to get great meals and places to have photos taken so you have long term memories that you might wish to revisit. Everything has been about you and your trip. You are all excited and satisfied I have done the job well for and feel comfortable everything including passports and boarding passes and accommodation and other travel arrangements have been taken care of.
I'm going through all of this because it is a once or first time lifetime experience for you both.
You are blown away and excited by what has been arranged for you. So much so that you didn't even flinch at the invoice because it has all been taken care of for you. In fact, you can't wait to get started on the trip itself.
This is not as far fetched as it may seem when you are taking care of a prospects future. It is their life's journey and if you can paint a picture of how easy you will make it, they won't resist your fee for service because they know they are in good hands.
It is very easy to lay out for them. One of the biggest concerns people have today is affordability and handing over money for something they don't want is only natural. When you can show them how easily it is affordable as well as giving them more money for their future, they will listen to you. In fact, they want to hear you tell them how to do it because you now more than they do and they want to learn.
If you want to find out more, please feel free to get in touch.
Think about the travel agency. You could have done it all online, but then would have missed out on the personal experience, knowledge and expertise.
Thats the difference between a real adviser and online.
Give them what they want so you you can them them what they need!

Re: Jury Still Out on Future for Risk Advice Specialists

NobbyK — Wed, 28 Jun 2017 07:35:21 -0000

Everyone (including financial advisers) is conditioned to expect to pay fees to doctors, dentists, solicitors, and any other myriad of services which result in an outcome and for that there is no argument.
People (including most advisers) have become conditioned to expect advisers to be remunerated by commission because thats how it's always been done.
Then some smarty comes along with new terminology and calls the income model 'conflicted' and not without basis either. The majority of the advisers are honest, hard working and do so in the best interests of their clients and the public. Thats always been acknowledged.
However, not everyone has always been ethical and a minority have resorted to fraud and churning to gain conflicted income.
Commissions are not conflicted but merely the reward offered in exchange for the business placed with the insurance company. Commissions are paid in many industries and none of them are considered to be 'conflicted' and nor is their industry so heavily regulated and controlled.
Then of-course there is the media which enjoys a good beat up as long as it sells papers and tends to influence and lead consumers based on the bias of the story and content.
While the public get up in arms about fees and bank bashing, the same can be applied to the whole financial services industry including advisers.
If the law is to be fee for service, it makes sense to find the easiest and least disruptive manner of implementation. Fighting the inevitable is a waste of valuable time and energy.
So it becomes a matter of finding a different way to do business.
I have worked on a solution to this since 2004 and the reality is that it is easier to do than not. You can change to fee for service by giving clients what they want so you can give them what they need - insurance and financial security.
It's going to be hard enough to survive in the new regime, so it's better to retain your sanity and look at the situation from a different perspective.
This is about doing the right thing by the client and yourself and getting paid for it.

Re: Advisers Set to Charge More for Advice Post LIF

NobbyK — Tue, 23 May 2017 18:40:45 -0000

It'll be interesting to see how many stay in the industry when push comes to shove on charging and getting paid fees for advice! Consumers are already struggling on current incomes to meet daily living expenses without having to pay further annual fees to advisers in the realm of $3000 to $5000 on average. The direct marketing arms of the insurers and online marketing with salaried staff will win out over the majority of advisers.
The only way to get a competitive advantage is to offer something the others don't.

Re: Consumers Open to Insurance Advice Fees

NobbyK — Tue, 23 May 2017 18:22:19 -0000

It's actually quite simple Paul. I have the program, you need to workout the fee. I have advisers who are choosing to charge an annual service fee and including this as part of their service offering. www.MoneysMoney.com