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

Introduction

What are your long-term goals?

What is financial planning?

The changing economic climate has led to a greater need for every Australian to be financially aware and have a financial strategy.

A new advisory business model

Historically, a financial adviser was a sales person trading in financial products (investments and insurance).

Developing new products and services

MLC has invested in developing new products and services to support its position on industry change.

Taking the brand to the industry

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.

Conclusion

MLC has taken a leadership position within the financial services industry.

Introduction

What is financial planning?

A new advisory business model

Developing new products and services

Taking the brand to the industry

Conclusion