Conclusion

The initiatives introduced by NAB and MLC in their pursuit of improving trust and transparency have gone a long way to restoring a balanced relationship between a bank and their customers and between financial planners and their clients.

The bank has seen a real competitive advantage emerge with customer satisfaction survey results continuing to improve, customer complaints falling and record numbers of new accounts being opened – and their successes have not gone unnoticed. NAB and MLC have received several awards including the prestigious Canstar Cannex ‘Banking Leadership Award’ for taking the lead and abolishing fees, and an ‘Innovation Excellence Award’ for introducing the Best Doctors medical service. MLC’s advice networks are consistently ranked number one in CoreData’s Major Financial Advice Group survey.These awards confirm that MLC and NAB are on the right path in their long term commitment to providing a fairer banking experience for all Australians, and encouraging more Australians to seek financial advice.