Overall Survey Results:


Radar Results Survey


1Required What is your gender?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Male
   
344 86.0%
Female
   
55 13.7%
Prefer not to answer
   
1 <1%
No Responses
 
00.0%
 Totals400100%
2Required Which category describes your age?
 
Answer
0%100%
Number of
Responses
Response
Ratio
18-24
 
0 0.0%
25-34
   
24 6.0%
35-44
   
79 19.7%
45-54
   
138 34.5%
55-64
   
127 31.7%
65-74
   
30 7.5%
75 or older
   
2 <1%
Prefer not to answer
 
0 0.0%
No Responses
 
00.0%
 Totals400100%
3Required What best describes your employment status?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Self-employed
   
263 65.7%
Self-employed own AFSL
   
51 12.7%
Employed full-time by a small business
   
41 10.2%
Employed part-time by a small business
   
5 1.2%
Employed full-time by a medium size business
   
17 4.2%
Employed part-time by a medium size business
   
3 <1%
Employed full-time by a large institution
   
11 2.7%
Employed part-time by a large institution
   
2 <1%
Prefer not to answer
   
2 <1%
Other
   
5 1.2%
No Responses
 
00.0%
 Totals400100%
4Which category best describes your revenue?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Insurance only
   
25 6.2%
FUM $1M - $9M
   
56 14.0%
FUM $10M - $19M
   
45 11.2%
FUM $20M- $49M
   
82 20.5%
FUM $50M - $99M
   
71 17.7%
FUM $100M - $199M
   
45 11.2%
FUM $200M or more
   
23 5.7%
Prefer not to answer
   
31 7.7%
Other
   
19 4.7%
No Responses
   
3<1%
 Totals400100%
5Would you use a business coach to increase your profit?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Already have a business coach
   
130 32.5%
Would consider using a business coach
   
67 16.7%
Currently considering using a business coach
   
27 6.7%
Not interested in using a business coach
   
160 40.0%
Other
   
12 3.0%
No Responses
   
41.0%
 Totals400100%

6Have you moved to fee for service yet?
 
Answer
0%100%
Number of
Responses
Response
Ratio
No
   
100 24.6%
Already full fee for service
   
88 21.7%
More than half of clients are fee for service
   
96 23.7%
Less than half of clients are fee for service
   
104 25.6%
Other
   
18 4.4%
 Totals405100%

7How have the proposed reforms affected your future business plans?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Change careers
   
11 2.7%
Retire earlier than planned
   
57 14.2%
Sell part of your business
   
38 9.5%
Sell all of your business
   
18 4.5%
Grow through acquisition
   
42 10.5%
Change to a larger dealer group
   
8 2.0%
No change
   
170 42.5%
Other
   
52 13.0%
No Responses
   
41.0%
 Totals400100%

8Do you think commission based practices now are worth more or less due to the proposed reforms?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Worth more
   
35 8.7%
Worth less
   
275 68.7%
Same
   
84 21.0%
No Responses
   
61.5%
 Totals400100%

9Which of the following proposed reforms do you want?
 
 1 = Yes , 2 = No
Answer
12
Number of
  Responses
Rating
Score*
Initial/Upfront commissions, not permitted
   
385 1.5
Trail commissions, not permitted
   
382 1.6
Fee for service charged as an asset based fee on gearing products, not permitted
   
378 1.5
Any form of payment based on volume or sales performance, not permitted
   
385 1.5
The opt in authorisation by each client
   
387 1.9
*The Rating Score is the weighted average calculated by dividing the sum of all weighted ratings by the number of total responses.


10With each client having to sign an agreement every year (opt in), do you think you will lose clients?
 
Answer
0%100%
Number of
Responses
Response
Ratio
Very likely
   
229 57.2%
Somewhat likely
   
80 20.0%
Neutral
   
26 6.5%
Somewhat unlikely
   
16 4.0%
Very unlikely
   
27 6.7%
Other
   
19 4.7%
No Responses
   
3<1%
 Totals400100%
11Do you have any suggestions or comments you would like relayed to the Government?
 
 Number of
Responses
  272