Case Study Pages:
Leading the evolution of financial advice
MLC is one of Australia's largest financial institutions. It has become a leader in the financial services industry by developing and championing a new advisory business model designed to encourage industry transparency and increase customer confidence.
After reading this Case Study, students should be able to:
- Understand the importance of having a wealth management strategy
- Explain the importance to the industry of the new business model
- Discuss the different methods MLC used to bring the issue to the media's, industry's and public's attention
What are your long-term goals?
The changing economic climate has led to a greater need for every Australian to be financially aware and have a financial strategy.
Historically, a financial adviser was a sales person trading in financial products (investments and insurance).
MLC has invested in developing new products and services to support its position on industry change.
The fee-for-service business model and a commitment to offering a clear, transparent and understandable pricing structure is a key part of MLC's brand.
MLC has taken a leadership position within the financial services industry.
What is financial planning?
A new advisory business model
Developing new products and services
Taking the brand to the industry