Editor's Letter: Calm before the storm

A new year, a fresh slate. Stay positive and brace yourself for change

And so it begins: a new year, a fresh slate, a list of good intentions and a slew of ambitious goals. Stick with it, and brace yourself for another year of upheaval, because January marks the calm before the storm.

In February, the royal commission will release its much-anticipated final report and you can bet its recommendations will have significant ripple effects on the broker market. Upfront and trail, the best interest duty and tighter income and expense verification processes are just some of the major broking matters up for review.

As soon as it drops, we’ll be on it. Follow our analysis online and in print, in which we’ll explain what the report means for you and your business. We’ll help you navigate the information with expert commentary and business strategy advice so you can keep your business tracking towards your goals in 2019. And if you have any questions, concerns or comments, we want to hear them.

In January, we’ll be busy conducting two roundtable discussions, one with the customer-owned banks and the second with the broker heads of the major banks to get their views on how two very different segments of the market are dealing with the challenges and opportunities coming on stream.

In the meantime, let’s take a step back from all this royal commission chatter. We kick off every new year by recognising the standout up-and-comers in the industry.

These Young Guns have a range of backgrounds and experiences and epitomise the qualities we want to see in all brokers – ambition, skill, innovation, an excellent work ethic and dedication to their customers. Seeing what these young people are capable of and striving to achieve is a good reminder to the old guard that coasting complacently won’t work in these changing times.

So let’s look to this year’s Young Guns as a shining example of what the future holds. Despite the recommendations on the immediate horizon, brokers know they provide value to consumers and increase competition in the market. Let those facts be your guiding light in 2019.

Otiena Ellwand
editor,
MPA