“AFG started the journey to get BID ready over 12 months ago, and as a result we have collected quite a library of resources for you to use and refer to. They’re housed in various locations in AFG suite, and my goal today is to show you where they are and how to use them.”
Anna Davis, Partnership Manager, February 2021.
Course overview
Did you know we have a comprehensive selection of webinars in our Learn Content Library?
One you might want to check out is our Back to Basics: Unpacking the BID Toolkit, which will give you 1 CPD point once completed.
When we originally prepared for Best Interests Duty (BID) in 2020, we amassed a huge amount of supporting tools for brokers including checklists, guides, example documents and calculators.
Our Compliance Manager, Shirley Elliot explains the impact that the introduction of BID had on our business:
“The inception of Best Interests Duty made us look at how our brokers interact with their customers and find ways to integrate new fields into the software systems. This helps our brokers capture how they have acted in the best interests of their clients. We needed to ensure our systems could capture the conversation we knew our brokers were already having,” Shirley said.
“We started this process 18 months before the commencement of Best Interest Duty so we had time to fine tune the systems, policies and processes we developed, which also enabled us to work with our brokers to ensure they were BID ready when it commenced on 1 January 2021.”
There is a lot of information available in the toolkit to help, however, if you are wondering where to start, our webinar can help you!
What’s it all about?
In our webinar, Partnership Manager Anna Davis unpacks the toolkit in a step-by-step guide, which takes you on a walkthrough the AFG suite to make sure you know:
Anna also runs through the answers to some commonly asked questions that the Partnership Managers get asked about BID:
Anna explained that the need for this webinar came as a result of a lot of questions that were raised by brokers after BID was introduced.
“Our goal was to make the transition to BID easy and thanks to our amazing compliance team our brokers had over a year to wrap their heads around the changes and how that was going to impact their day to day,” Anna said.
“The goal with this webinar was to highlight the work that had been done but also pull it all together and show our brokers what we had, where to find it all and how to use it.”
“This webinar allowed us to highlight the key items and drilldown into the frequently asked questions from the BID webinars and the queries that the PM team were receiving. It’s a great webinar to rewatch or assign to new to industry brokers and admin staff who aren’t sure where to start.”
How do I view the webinar?
Click here to view the Back to Basics: Unpacking the BID Toolkit for yourself!