The ifa Show: Recent Episodes
Momentum Media
The ifa Show is your guide to the stories behind the headlines in financial advice. Join the ifa team as they discuss the latest developments in the advice sector.
www.ifa.com.au
In this episode of The ifa Show, host Keith Ford is joined by Natallia Smith, the director and principal financial adviser of TruWealth Advice, to explore how ethics have shaped her firm at a foundational level and the benefits of self-licensing in giving her control to make business decisions grounded in ethical practices.
Touching on a hot topic for the profession, Smith shares her views on advice charging models, explaining why she believes fixed dollar-based fees are more ethical than asset-based fees.
Listen as they discuss:
- Why the separation of product and service is so important in financial advice.
- The need for more female representation within the profession.
- How ethics impacted her decision to develop a niche client base.
In this episode of The ifa Show, host Keith Ford is joined by ifa journalist Shy-ann Arkinstall to discuss new Financial Services Minister Daniel Mulino’s initial meetings with industry associations, including the Financial Advice Association Australia, the Association of Independently Owned Financial Professionals and the SMSF Association, and what the outcomes of these say about the future of the profession.
As the Delivering Better Financial Outcomes (DBFO) reforms remain top of mind for advisers, they take a look at the Financial Services Council’s submission on the legislation, digging into the ongoing concerns regarding the so-called new class of adviser and the uncertainty that has come with only receiving half of the next round of reforms.
Listen as they discuss:
- The soon-to-be-released Compensation Scheme of Last Resort (CSLR) Treasury review.
- How different variations of Division 296 could impact Australians’ superannuation savings.
- What advisers might expect to see over the next few months.
On this episode of The ifa Show, host Keith Ford is joined by Hugh Robertson, chief executive of Centaur Financial Services, to explore the challenges that come with market volatility and how advisers can really show their value in these times.
Although many clients will feel the need to adjust their investments as changes occur, Robertson believes that timing the market simply doesn’t work, highlighting the importance of discipline and sticking to long-term strategies while still remaining adaptable.
Listen as they discuss:
- Why it’s important for advisers to stay flexible in challenging markets.
- How Division 296 could do more harm in the long run.
- Using diversification to ride out unexpected market shifts.
This week on The ifa Show, host Keith Ford is joined by Adele Martin, founder of Financial Adviser Scale Squad, who speaks about the value of collaboration within the financial services sector and how this can help advisers grow and improve their businesses.
Ahead of presenting at the AI Summit in June, Martin explains how advisers can use AI in their practices to not only help them be more efficient but also in training the next generation of advisers.
Listen as they discuss:
- Why advisers should be doing more than looking for referral partners.
- The role of technology in enhancing advisers’ service offering.
- How hosting workshops can help strengthen both client and partner relationships.
In this episode of The ifa Show, host Keith Ford is joined by Fraser Jack, founder of The Cyber Collective, to delve into the longstanding issue of giving financial advisers access to the ATO portal and why the Tax Office might be hesitant to open the door.
Jack also touches on the CPS 230 regulation, which will come into force on 1 July, explaining that advisers will be under even heavier scrutiny from APRA-regulated entities to ensure their cyber security is up to their new standards.
Listen as they discuss:
- How advisers can shore up their cyber security in preparation for ATO portal access.
- What can be learned from the recent attacks on superannuation funds.
- Why advisers should be discussing cyber security with their clients.
In this episode of The ifa Show, hosts Keith Ford and Maja Garaca Djurdjevic are joined by Blake Briggs, chief executive of the Financial Services Council, to unpack what the federal election and new-look Treasury portfolio will mean for advisers and the broader industry.
Briggs explains that Dr Daniel Mulino enters the financial services minister role with a suite of policies announced under his predecessor but not yet completed. He also stresses the importance of a deliberative approach that would allow Mulino to put his own stamp on the portfolio while continuing the reform process.
Listen as they discuss:
- The importance of stakeholders engaging constructively with the government on financial services reform.
- Why the $3 million super tax remains a contentious issue and the need to re-think its design.
- Where the Coalition will look for economic policy in the wake of its heavy election loss.
In this episode of The ifa Show, host Keith Ford is joined by Ben Marshan, director of Marshan Consulting, to unpack the implications of Labor’s sweeping electoral victory for the financial advice sector.
Marshan explains what the heavy majority means for financial legislation, including what the potential ministerial candidates could bring to the table that could influence the pace and direction of regulatory reform.
Listen as they discuss:
- Why the appointment of the next financial services minister will be pivotal.
- How proposed policies like the $3 million super tax could impact the tax system and the potential unintended consequences.
- What the options are for the Treasury portfolio on the opposition’s side.
In this episode of The ifa Show, host Keith Ford is joined by Dr Ben Neilson, financial adviser at Complete Wealth, to unpack how ongoing volatility in investment markets are affecting clients and how different cohorts are reacting.
As tariff announcements have caused a roller-coaster on stock markets, it is hard to blame clients for fretting. According to Nielson, the best way to manage concerned clients is to reach out proactively and ensure they know their adviser is in it with them.
Listen as they discuss:
- Demystifying the broader implications of market volatility for clients.
- The difference a few days can make in periods of rapid change.
- How to use unpredictable events as a tool to shift clients’ mindset.
In this week’s special episode of The ifa Show, we present outgoing Financial Services Minister Stephen Jones’ address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Delivering Better Financial Outcomes reforms.
In what was possibly his last address in front of an advice audience ahead of his retirement from politics, Jones outlines what he achieved over his three years in the role and how the Labor government plans to deliver on what he couldn’t if they are successful at the upcoming election.
Tune in to hear about:
- How the education standards reforms will help the profession recover its numbers.
- What is being done to address the Compensation Scheme of Last Resort.
- The role of the new class of advisers in bridging the advice accessibility gap for retiring Australians.
- Why an extra six months would have done the trick.
In this episode of The ifa Show, host Keith Ford is joined by Sarah Abood, chief executive of Financial Advice Association Australia (FAAA), to break down the Coalition’s promises to the advice profession if they come into power and the merits of the latest draft legislation of Labor’s advice reforms.
Ahead of the federal election, Abood explored some of the possible solutions offered from both sides for addressing the Compensation Scheme of Last Resort, as well as the possible implications of superannuation funds providing retirement advice through collective charging.
Listen as they discuss:
- What the FAAA wants from the incoming government.
- Why it’s important that advisers gain access to the ATO portal.
- How government funding could boost new entrants to the profession.
In this week’s special episode of The ifa Show, we present shadow treasurer Angus Taylor’s address at Momentum Media’s Election 2025 event, followed by a Q&A covering the Coalition’s plans for the financial services sector.
Taylor outlines what a Peter Dutton-led government would deliver for the Australian economy, why the role of financial advisers is "absolutely central" to its economic blueprint, and how the nation's leader needs to handle negotiations with US President Donald Trump.
Tune in to hear about:
- The Coalition's plans to reshape the economy.
- How Taylor plans to get the cost-of-living crisis under control.
- Why the shadow treasurer aims to double financial adviser numbers.
In this episode of The ifa Show, host Keith Ford is joined by independent financial adviser Nathan Fradley to discuss the Aged Care Act reforms set to come into effect on 1 July and how advisers can prepare their clients.
With the funding of aged care also heading for change, Fradley breaks down what advisers who don’t specialise in the space need to know and the value of building a network of professionals they can refer clients to, to ensure they can meet the needs of clients navigating the complex aged care space.
Listen as they discuss:
- Why it’s so important that advisers stay up to date on the incoming reforms.
- The value of specialisation within the advice industry.
- What impact DBFO 1.5 could have on clients’ retirement income and Centrelink eligibility.
In this episode of The ifa Show, hosts Keith Ford and Maja Garaca Djurdjevic are joined by Phil Anderson, general manager of policy, advocacy and standards at the Financial Advice Association Australia (FAAA), to break down the latest tranche of financial advice reforms.
With an election on the horizon, there won’t be any meaningful movement on the draft legislation, but the version delivered last week has fallen well short of the FAAA’s expectations, with Anderson characterising the association’s response as having a “fairly strong tone of disappointment”.
Listen as they discuss:
- What’s in the Delivering Better Financial Outcomes (DBFO) exposure draft – and what isn’t.
- Why the FAAA is so strongly against the legislation in its current form.
- The specifics around what advice super funds would be allowed to collectively charge members.
- Whether there are any real differences between the proposed client advice record and a statement of advice.
- How little there was in the budget for financial services and advice.
In this episode of The ifa Show, host Keith Ford is joined by Eugene Ardino, chief executive of Lifespan Financial Planning, to discuss some of the hot-button topics impacting financial advice and why, despite some challenges, there is still plenty of reason for optimism.
Financial advisers are facing headwinds in the form of sluggish regulatory reform and the growing impact of the Compensation Scheme of Last Resort (CSLR), which Ardino said is currently the biggest issue for advice, though high demand and deregulation on the horizon should see things improve.
Listen as they discuss:
- What steps need to be taken to ensure the CSLR is sustainable without crippling financial advice.
- How the advice profession can work to attract more new entrants and sell the positives of the sector.
- Whether a change in minister is likely to speed up the implementation of reforms.
In this episode of The ifa Show, host Keith Ford is joined by Marc Fabris, founder of Risk Hub, to discuss how technology and artificial intelligence are being used to boost efficiency in the advice process, making risk advice commercially viable for holistic advisers.
While commissions have certainly played a significant role in the exodus of holistic advisers from the risk sector, Fabris explains how regulatory changes and compliance requirements have made risk advice more challenging and expensive, which has ultimately led to an underinsurance issue in Australia.
Listen as they discuss:
- The likelihood of government addressing risk commissions soon.
- How collaboration with insurers could streamline the risk advice process.
- Why advisers need to embrace AI to stay competitive for the future.
In this episode of The ifa Show, host Keith Ford is joined by Katherine Spitzkowsky, founder and principal adviser at Yulania Financial, ahead of International Women’s Day to discuss the specific needs of women seeking financial advice, as well as how advisers can work with neurodiverse clients.
While many financial advisers aim to tailor their offering to every client based on their individual needs, Spitzkowsky explains why it is still important to understand the differences in the way that men and women approach financial literacy to ensure clients receive the best outcome from the financial advice process.
Listen as they discuss:
- The value of referring clients to other advisers who would be a better fit.
- Why neurodiverse clients can often be perceived as difficult because of a mismatch in communication styles.
- How financial advisers can provide a better service through flexibility in their processes.
In this episode of The ifa Show, host Keith Ford is joined by the executive director of the Association of Independently Owned Financial Professionals, Peter Johnston, to break down how the poor design of the Compensation Scheme of Last Resort (CSLR) could lead to the downfall of the financial advice profession as they face a $70 million levy. With the responsibility of addressing the CSLR seemingly being left in the hands of the next government, Johnston explains the importance of advisers using their vote in the upcoming federal election to support those that will, in turn, support the profession and deliver on their promises.
Listen as they discuss:
- Whether there are any legal pathways for the profession to challenge the CSLR.
- How advisers can push back against political pressures in the upcoming federal election.
- What the long-term implications of the CSLR could be for the profession.
In this episode of The ifa Show, co-hosts Maja Garaca Djurdjevic and Keith Ford break down what Financial Services Minister Stephen Jones’ impending retirement means for the upcoming federal election. While many advisers will be glad to see Jones go after years of disappointment from the Labor government, particularly in relation to the government’s handling of the Compensation Scheme of Last Resort (CSLR), many are still hesitant to trust the Coalition, remembering the decade of mistreatment.
Listen as they discuss:
- How United Global Capital is impacting the CSLR more than Dixon Advisory.
- Industry associations’ criticisms of both major political parties.
- Whether advisers can expect to see a draft on tranche two of the Delivering Better Financial Outcomes reforms prior to the election.
In this episode of The ifa Show, host Keith Ford is joined by the chief executive of WT Financial Group, Keith Cullen, to break down the government’s adviser education reform announcement, and why the profession needs to be pragmatic about the pathways to bring in new advisers. Cullen explains why he sees opening up financial advice to a wider range of degrees is vital, and the importance of maintaining the appropriate additional requirements, such as completing the adviser exam, professional year, and CPD training.
Listen as they discuss:
- What advisers can expect from the upcoming federal election.
- How the next tranche of DBFO is tracking and the measures it needs to get right.
- Why the government needs to stop its constant meddling in the super system.
In the latest episode of The ifa Show, host Keith Ford is joined by the founder of The Cyber Collective, Fraser Jack, to discuss how technological advancements have impacted the cyber security space and the doubled-edged sword of AI.
Reflecting on the evolving landscape of cyber security, Jack emphasised the importance of creating resilient businesses that can withstand and recover quickly from attacks as despite best efforts, attacks still can occur.
Listen as he discusses:
- How third-party providers can increase cyber risk.
- Why leaders’ knowledge is crucial to protecting the business.
- The consistent vulnerability of human error.
In this episode of The ifa Show, we share a discussion between host Maja Garaca Djurdjevic and associate professor Nathan Eva, from Monash Business School, on the global implications of US President Donald Trump's "me-first agenda" on organisational culture, including within Australia. Eva breaks down Trump’s executive orders rolling back diversity, equity, and inclusion (DEI) initiatives and clean energy efforts, and how these moves could flow through into the domestic landscape.
Listen as they discuss:
- The risks that come with deprioritising diversity and how Australian leaders can resist these trends.
- What organisations can do to stay committed to fairness, equity, and sustainability amid political and social upheaval.
- The leadership qualities needed to navigate this challenging new era.
In the latest episode of The ifa Show, host Keith Ford is joined by academic and consultant Dr Katherine Hunt to dive into the barriers that are holding advice firms back from bringing on young advisers and why overcoming them is important for the future of the profession. Reflecting on conversations with advisers who have decided working with professional year (PY) advisers simply doesn’t fit their business model, Hunt outlined why this is an area where advice firms can take on more responsibility for improving the overall profession while still gaining value from a new adviser’s skills.
Listen as she discusses:
- How to reposition the value proposition of a PY adviser as a positive for your clients.
- Why the proposed new class of adviser could be reason for optimism and lead to growth in adviser numbers in the long-term.
- How to get the most out of mandated ethics continuing professional development rather than just ticking a box.
In the latest episode of The ifa Show, host Keith Ford sits down with founder and director of Forte Asset Solutions, Steve Prendeville, to break down what’s happening in the financial services mergers and acquisitions (M&A) space. With activity high across the board, including multiple bidders attempting to take over Insignia Financial, Prendeville shares his insights on the growing international interest in Australian financial services firms and why this is happening.
Listen as he discusses:
- The impact of offshore ownership on the domestic financial services market.
- Why 2025 is set to be a busy year for M&A advice firms, driven by a combination of supply and demand dynamics.
- How financial advisers can build better businesses and enhance profitability.
Join us for an exclusive interview as ifa’s Maja Garaca Djurdjevic and Keith Ford are joined by shadow financial services minister Luke Howarth to discuss the Coalition’s goals for financial advice.
In this conversation, Howarth shares his perspective on the current state of the sector, what a change in government would bring about for financial advice reform efforts, the prospect of super funds returning to advice, and what needs to change regarding the Compensation Scheme of Last Resort.
Tune in to hear the shadow minister’s vision for the advice profession ahead of next year’s federal election.
You’ll hear:
- What the Coalition’s plan to implement all the Quality of Advice Review recommendations means in practice.
- His plans to turn around what has been a contentious relationship between the advice profession and successive governments on both sides of politics.
- How Australia’s economy is looking following an extended period of high inflation and increased government spending.
- Whether the shadow minister is just talking a good game ahead of an election or if financial advice would be better off under a Coalition government.
In this episode of The ifa Show, host Keith Ford is joined by Kylie Denton, the owner and director of Performance Advisory Group, to explore how advisers can navigate the complex landscape of the intergenerational transfer of wealth and engage with different generations of clients. Denton explains why financial advisers need to start thinking about how they will connect with this new generation now, as around $435 billion of wealth is set to transfer from Baby Boomers to generations X, Y, and Z over the next 10 years.
Listen as they discuss:
- The conversations that advisers should be having with clients and both their children and grandchildren.
- How advisers can tailor their offerings to younger generations that communicate very differently compared with older clients.
- The different concerns that younger clients hold, not just from a financial perspective but also on a broader level.
In this episode of The ifa Show, co-hosts Maja Garaca Djurdjevic and Keith Ford break down Financial Services Minister Stephen Jones’ latest update on the Delivering Better Financial Outcomes (DBFO) reforms and how the new class of adviser (NCA) is set to operate.
Details have been short on the second tranche of the DBFO and the delays have been lengthy, but the minister has provided a more in-depth look at how the super funds and insurers will be able to utilise NCAs to provide simple advice to members – though there is still no date for the release of draft legislation.
Listen as they discuss:
- Whether the ability for NCAs to charge for their service is a net positive and why it became a point of friction among stakeholders.
- The reaction from across the financial services industry.
- How likely it is that the legislation will be passed in the current term of Parliament, given the ever-shrinking window before the federal election.
In this episode of The ifa Show, co-hosts Keith Ford and Maja Garaca Djurdjevic are joined by Money Management editor Laura Dew to dissect some of the submissions that industry stakeholders have made to the Senate’s Dixon Advisory inquiry.
Submissions for the Senate inquiry into failure of wealth management companies and the impact on the Compensation Scheme of Last Resort (CSLR) have started to be released, and some key issues have started to emerge around where the major problems lie and what can be done to fix them.
Listen as they discuss:
- How the CSLR came about and why the Dixon Advisory collapse has caused so many problems.
- The ongoing concern of what will happen when the $20 million subsector cap is exceeded.
- Options to address large firms walking away from their subsidiaries and leaving it to advisers to pick up the tab.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Bryce Quirk, Group Executive of Distribution at CFS, and Recep Peker, Managing Director of Empower Business Advisory, to explore the findings of the firms’ recent Advice Practice Profitability Report.
Quirk and Peker break down the report’s most important insights for advisers, from the way practice inefficiencies are hindering their ability to serve a greater number of clients to the importance of investing in the foundation of their businesses to accommodate future growth.
Listen as they discuss:
- How to address the ongoing issue of advice accessibility.
- The importance of advocating for the value of financial advice and reducing servicing costs.
- The role of managed accounts in simplifying processes and improving client outcomes.
- Why advisers should seek technology partners that facilitate consistency and simplicity and how this can boost profitability.
In this episode of The ifa Show, co-hosts Keith Ford and Maja Garaca Djurdjevic sit down to discuss tranche two of the Delivering Better Financial Outcomes legislation and Liberal senator Andrew Bragg’s admonishment of the government for the ever-extending timeline to deliver a draft of the legislation. Together, the pair delve into the potential impact of Australia’s 2025 federal election and how politics are playing a role in the legislative process, suggesting financial services could become a key battleground as the election nears.
Listen as they discuss:
- The private member’s bill hoping to provide advisers a reprieve from onerous statements of advice.
- Advisers who are left in a state of limbo as they await legislative change.
- The Compensation Scheme of Last Resort and the ongoing battle against Dixon Advisory.
In this episode of The ifa Show, host Keith Ford is joined by Conrad Travers, director and principal consultant at Tangelo Advice Consulting, to discuss the ATO’s final determination on tax deductibility of advice fees and how advice firms can put the changes into practice to benefit their clients. Travers explains how the new guidance works, what has changed from the draft determination that was released last year, and why it is important to work alongside accounting professionals to ensure the best outcomes for clients.
Listen as they discuss:
- Why advice firms need to identify areas of friction in their processes to enhance their operational efficiency.
- How to get your practice ready for the changes coming out of the first Delivering Better Financial Outcomes (DBFO) legislation.
- What to expect from the second tranche of DBFO and why you shouldn’t rely on regulatory change to improve your practice.
In this episode of The ifa Show, host Keith Ford is joined by Dr Ben Neilson, a financial adviser from Complete Wealth, to discuss a new framework for advice – developed through his recently completed PhD – focusing on six critical barriers: professionalism, trust, engagement, comprehension, costs, and serviceability. Neilson discusses the role of technology in improving efficiency in the advice process and the need to outsource administrative tasks to increase client capacity and reduce the cost to serve.
Listen as they discuss:
- The key barriers impacting financial advisers.
- How firms can act to reduce the cost of advice.
- The perception of financial advice as a profession.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by specialist financial adviser Nathan Fradley to discuss the growing importance of aged care advice in Australia as the population gets older, and the need for specialised knowledge to successfully handle complexities of Australia’s aged care system. Fradley discusses his journey to aged care advice, the challenges of navigating complicated relationship dynamics, and what can happen when people receive incorrect advice.
Listen as they discuss:
- The emotional side of aged care advice.
- Unique challenges of advising clients on aged care and retirement.
- The evolving landscape of aged care legislation.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Grant Hackett, CEO of Generation Life, and Rebecca Pritchard, senior financial planner at Rising Tide Financial Services, to discuss the increasingly complex financial landscape shaped by evolving superannuation and tax policies.
Together, they explore the key challenges these changes present for advisers and clients, and how financial professionals can navigate this new terrain to better serve their clients’ long-term financial goals.
Tune in for expert insights into critical issues, including:
- The effects of recent regulatory changes on financial planning strategies.
- How superannuation reforms are transforming retirement planning.
- New research from Generation Life revealing that 75 per cent of Australians are concerned about their retirement savings. · The evolving role of financial planners in helping clients navigate uncertainty.
- Effective strategies for sustaining client confidence during economic and policy shifts, and more.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by ifa deputy editor Keith Ford to discuss a range of issues within the financial advice space, including the opposition’s strong statement on delays to implementing the Quality of Advice Review’s (QAR) recommendations. The pair delve into shadow financial services minister Luke Howarth’s criticism of the government due to the lack of movement on the second tranche of the Delivering Better Financial Outcomes (DBFO) bill, despite the final QAR report being handed down more than 650 days ago.
Listen as they discuss:
- Whether there is still time for DBFO tranche two legislation to be delivered.
- The public inquiry into the Compensation Scheme of Last Resort, Dixon Advisory and wealth management companies.
- Super funds embracing digital advice and the response from the advice community.
In this episode of The ifa Show, host Keith Ford is joined by Dawn Thomas, a senior wealth adviser with The Wealth Designers, to explore the challenges of completing a PhD while continuing to work as a financial adviser, as well as the ongoing challenges that the profession faces. Thomas discusses her PhD on Generation Z’s initial experience with superannuation, and the heavy workload of pursuing her research while balancing work and family obligations.
She also shares why she believes that combining her academic background with her practical experience will enhance her expertise and help improve financial literacy among younger individuals, ultimately fostering greater engagement with the superannuation system.
Listen as they discuss:
- The sacrifices she’s making to complete her PhD.
- Advisers’ struggle to be viewed as a profession.
- Improving people’s engagement with their super, and more.
In this episode of The ifa Show, host Keith Ford is joined by author and financial adviser Helen Baker to unpack the transformative potential of artificial intelligence (AI) and how financial advisers can highlight prime investment opportunities in the market. Baker identifies the industries set to benefit from AI for advisers looking to integrate these into client portfolios and the ethical concerns surrounding these new technologies. Listen as they discuss:
- The revolutionary benefits and potential dangers of AI.
- How clients can benefit from AI investments.
- The ESG considerations that advisers should keep in mind.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Olympian and financial adviser at HLB Mann Judd Sarah Carli to discuss her experience at the 2024 Paris Olympics and the importance of being well prepared both on and off the track. Having competed in the 400-metre hurdles at the recently completed Paris Games, Carli explains the thought process of transitioning to retirement from athletics and dedicating more time to her financial advice career. Listen as they discuss: * Readjusting to an office environment after competing in the Olympics. * How a career as a track athlete has helped her become a better adviser and vice versa. * Why financial advice is an appealing career for young people who may not know what it entails.
In this episode of The ifa Show, host Maja Garaca Djurdjevic and Eugene Ardino, CEO of Lifespan Financial Planning, explore the challenges that single adviser firms face and why they have an important place in the market. Ardino explains what the future holds for these firms and how reductions in red tape will make life easier, as well as how outsourcing arrangements can free the adviser to spend more time providing advice rather than in the back office dealing with admin tasks.
Listen as they discuss:
- Why advisers need to decide early if they want to remain a single practitioner firm.
- The difference between working as an adviser and running an advice firm.
- How single practitioners can ensure they remain sustainable in the long run.
In this episode of The ifa show, host Maja Garaca Djurdjevic and Matt Esler, co-founder and co-CEO of Padua, explore how financial advisers can maximise the potential of their CRM systems.
He emphasises that while CRMs are powerful tools, their effectiveness hinges on the quality of data input.
Esler also discusses the importance of personalisation in client relationships, leveraging tools like Padua’s Discover and Research Manager to enhance the accuracy and relevance of financial advice.
He concludes by reaffirming the evolving role of paraplanners, who will become more strategic in delivering better, faster advice.
Don’t miss Esler’s expert tips on refining your CRM for greater success.
- CRM data gaps: CRM data often has gaps, limiting its effectiveness.
- Personalisation: Tools like Discover help personalise advice and updates.
- Client relationships: Better data leads to stronger client engagement and outcomes.
- Future trends: Embracing new tech and ISO-certified tools for enhanced financial insights.
In this episode of The ifa Show, host Keith Ford is joined by Lana Clark, founder of GSD Lab and senior consultant at Elixir Consulting, powered by VBP, to take an in-depth look at some of the key findings from the firm’s recently released Advice Operations Research Report.
Clark breaks down the ingredients that make up the secret sauce of great advice firm operations, explaining the areas that the research found make the largest contribution to successful firms and how practice principals can ensure the business is ready for the future.
Listen as they discuss:
- The importance of separating the role of practice manager as quickly as possible.
- How building a good culture is harder than it seems but is vital to business success.
- Why nailing down bulletproof processes within an advice firm is a fundamental step.
In this episode of The ifa Show, host Keith Ford is joined by Neil Younger, CEO of Entireti, to discuss the firm’s recently announced strategic partnership that will see Entireti take a majority stake in AMP’s three licensees and the Jigsaw offering. Younger explains how the move will impact the advisers moving across as well as what the deal means for the broader advice landscape. He also covers what the future looks like for licensees, and whether this period of consolidation among the larger licensees is set to continue.
Listen as they discuss:
- Why the growing trend of firms self-licensing is a positive when done for the right reasons.
- What the upcoming second tranche of advice legislation needs to include.
- How the CSLR is affecting the advice community and whether it can be fixed.
In this episode of The ifa Show, host Keith Ford is joined by Ryan Watson, chief executive of Tribeca Financial, to discuss the importance of bringing more advisers into the profession and why he believes there is currently an incredible opportunity to help people through financial advice. Watson covers the advice firm’s recent expansion with a new Sydney office, how Tribeca goes about attracting talent, and why growth and removing friction from the advice process is an opportunity to help more Australians access a financial adviser. Listen as they discuss: * Why there has never been a better time to be in financial advice. * The freedom, flexibility, and responsibilities that come with holding an AFSL. * Why value-based pricing and truly client-centric advice is the best way forward.
In this episode of The ifa Show, host Keith Ford is joined by Ben Marshan, director of Marshan Consulting, to break down how the Delivering Better Financial Outcomes reforms will impact advisers and how they can look beyond the shifting regulatory landscape to improve their businesses. Marshan explains how the ongoing financial services reforms have stacked on top of each other to create the unwieldy situation the sector finds itself in, and why streamlining labyrinthine regulation could be an impossible task.
Listen as they discuss:
- How advisers can help their clients find purpose as they enter retirement.
- Why a new class of advisers shouldn’t be viewed as an attack on professional advisers.
- The importance of cutting down on unnecessary compliance steps that are no longer needed.
In this episode of The ifa Show, host Keith Ford is joined by Matt Hale, senior financial planner and director at Rising Tide Financial Services, to discuss where the advice profession is heading and the pressures that are impacting the provision of advice.
Hale explains how Rising Tide found its core client base and moulded its offering around their needs as well as the importance of attracting a younger cohort of advisers and the difficulties that can arise in doing so.
Listen as they discuss: • Why it is important to not get too wrapped up in regulatory changes until they actually happen. • How advice firms can look to improve business processes for greater efficiency. • The key role compliance plays when running an advice firm.
In this episode of The ifa Show, host Keith Ford is joined by experienced financial services executive Tony Beaven to take a look at the similarities and differences between the UK and Australian financial advice sectors – and what each can learn from one another. Beaven, who has worked in advice businesses across both countries, explains how the regulators across these jurisdictions work together to improve their processes and how the Financial Conduct Authority in the UK works could inform the future of Australian advice regulation.
Listen as they discuss:
- The place of robo-advice in reducing the advice gap.
- Why self-licensed advice firms need to fully understand the responsibilities that come along with it.
- How lowering the education benchmark for a new class of advisers could undermine professionalism.
In this episode of The ifa Show, host Keith Ford is joined by managing director of WT Financial Group Keith Cullen to discuss the recent passage of the first Delivering Better Financial Outcomes bill and the need to expand the advice profession. Cullen explains how advisers engaging with the political process delivered a tangible outcome in the amendments that were made to section 99FA, and why he believes the next tranche of legislation needs to include practical ways for advice firms to incorporate the proposed new class of advisers into their businesses.
Listen as they discuss:
- The Senate’s recent report on ASIC and its recommendation to overhaul the way the industry funding model operates.
- Why it is vital that the profession finds new ways to bring talent into advice.
- The case for licensees taking on a greater share of the ASIC levy.
On this week’s episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Matthew Rady, the chief executive officer at BT Financial Group, to discuss the evolution of BT and how its Panorama platform stands out in a competitive space. Tune in to hear insights on the importance of embracing digital as well as having a great culture, and how BT is utilising both aspects to enable a “people-oriented business”.
Listen as they discuss:
- How advisers can improve efficiency to service a greater number of clients.
- The changes within financial advice over the 10 years of BT Panorama.
- What to expect from the next decade as advisers contend with a changing landscape.
In this episode of The ifa Show, host Keith Ford is joined by Phil Anderson to discuss a range of pressing issues for the advice profession that are adding a cost burden to the provision of advice.
Anderson, who is the general manager of policy, advocacy and standards at the Financial Advice Association Australia (FAAA), explains the different mechanisms in how the CSLR and ASIC funding levies are calculated and paid, and why the upcoming RITC changes will impact advice clients.
Listen as they discuss:
- The push for greater consideration of tax deductibility for advice fees.
- Why the FAAA still wants the first DBFO bill to be passed quickly.
- The crunch of financial services legislation currently under consideration.
On this week’s episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Cable Rickard, general manager of Wrap Solutions and Product Integration at Insignia Financial, to discuss the evolution of Insignia Financial, the impact of recent acquisitions, and the future of their flagship platform, Expand. Tune in to hear insights on how Insignia is navigating industry changes, enhancing client service, and leveraging technology to stay ahead in the financial advice landscape.
You’ll learn:
- How significant acquisitions have shaped Insignia.
- Insights into Expand, Insignia’s flagship proprietary platform, its features, and its growth since its launch in 2019.
- How Insignia is responding to market changes, including regulatory impacts.
- Rickard’s vision for the future of Expand and about Insignia’s ongoing commitment to enhancing their platform and services to meet advisers’ evolving needs.
In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by ifa news editor Keith Ford following the first Compensation Scheme of Last Resort payments being made to discuss how the scheme is impacting the advice profession.
The pair delve into the details behind the CSLR, including how the scheme works and why advisers won’t be on the hook for claims related to mortgage brokers, as well as breaking down the shadow financial services minister stepping up his criticism of the government’s handling of financial advice reforms.
Listen as they discuss:
- Why financial advisers are considering a boycott of the CSLR – and why it is a risky prospect.
- The letter that advisers are sending to their local members to protest unfair treatment.
- Whether the opposition would actually offer a better alternative.
In this episode of The ifa Show, hosted by Keith Ford, Hans Egger, managing director of Astute Wheel, delves into the importance of client portals for financial advisers. The discussion centres on the benefits of using client portals to enhance data security and improve the overall client experience.
The pair discuss:
- The critical role of client portals in protecting sensitive financial information from cyber attacks, reducing risks associated with email communications.
- How client portals improve the client experience by facilitating pre-meeting information gathering and offering an intuitive, user-friendly interface.
- How a detailed audit trail of interactions and document exchanges aids in compliance and provides a clear record of all activities related to client accounts, and more.
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Michael Pillemer, CEO of PPS Mutual, to discuss the sustainability and advantages of the mutual insurance model.
Pillemer highlights that the mutual model allows for profit sharing among members, contributing to long-term sustainability and client satisfaction. Despite industry challenges like the adviser exodus and economic crises, PPS Mutual has grown steadily, now serving nearly 12,000 members with 38,000 benefits in place.
Pillemer also highlights the advantages and success that the mutual model offers to advisers using PPS Mutual’s growth and unique position within Australia’s risk insurance space as proof.
Listen to hear:
- How the mutual model creates an alignment of interests and reduces conflicts between the company’s goals and clients’ needs.
- How the model helps advisers manage client expectations and maintain long-term relationships, and more.
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Padua Solutions co-founder and co-CEO Matt Esler ahead of the Adviser Innovation Summit in June to discuss the power of data in financial advice.
Esler explains the pivotal role that data plays in shaping the future of financial advice, and the importance of understanding client advice data and identifying gaps in CRM and portfolio information.
The pair discuss:
- How data-driven insights have revolutionised investment strategies and platform choices.
- The opportunities and potential pitfalls of integrating AI into financial advice.
- The risks and challenges of navigating a complex data landscape.
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by DASH chief executive officer Andrew Whelan ahead of the Adviser Innovation Summit in June to discuss the intergenerational transfer of wealth. Whelan explains how the wealth transfer is leading to seismic shifts within financial advice, which is compounded by younger generations preferring digital interactions over face-to-face meetings – a trend that financial advisers must adapt to in order to remain relevant.
The pair discuss:
- The changing preferences and evolving client expectations for advice across generations.
- The critical role of digital advice in addressing the advice gap, particularly for those with simpler needs or lower investable assets.
- How advice firms can increase profitability through strategic technology adoption.
In this special budget episode, hosts Keith Ford, Maja Garaca Djurdjevic, and Aaron Dunn discuss the outlook for financial advice and SMSFs on the back of a budget that revealed little in terms of detail for either sector. They also take a look at some of the measures that were included, as well as why some high-profile topics were left out completely, such as the $3 million super tax being conspicuously absent.
Listen as they discuss:
- The need for more structural change within the taxation system to provide a meaningful impact.
- Why the headline-grabbing inflation predictions could be little more than a mirage.
- The missed opportunities to make a difference for advisers and clients.
In this episode of the ifa Show, host Keith Ford is joined by Ben Neilson, a financial adviser at Complete Wealth, to discuss streamlining the production of advice to help more clients.
Neilson breaks down the way he makes advice more efficient and why advisers should be trying to do the same, as well as explaining why taking on more clients doesn’t need to come at the expense of work/life balance.
Listen as they discuss:
- The roadblocks to implementing a more streamlined approach to advice.
- Why advisers should go to their licensees with a plan to simplify their SOAs.
- How improving the advice profession can make advice more affordable for clients.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by shadow treasurer Angus Taylor to discuss the current state of the financial advice sector, the economy, the housing affordability crisis and more.
Taylor, a key figure in the opposition, shared his views on a range of issues from the government’s handling of the Quality of Advice Review (QAR) to the challenges facing the Australian economy, including productivity, while also emphasising the principle that superannuation is Australians’ money, not the government’s.
The shadow treasurer shares his belief that the answer to most problems is less government intervention and not more.
“I’m a big believer in getting government out of the way as much as you can,” Taylor says.
Touching on Labor’s perceived regulatory overreach, specifically in financial services, Taylor says: “The commitment on our side … is to recognise that there has been regulatory overreach, that we have got a whole group of Australians now that are under-advised, underinsured and underbanked, and that we’ve got to have more accessible financial services and advice if Australians are to have the prosperity they deserve.”
Tune in to hear him speak about:
- The advice profession and the Coalition’s intentions.
- Broader economic challenges.
- The Help to Buy scheme, and more.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Estelle Parker, the co-CEO of the Responsible Investment Association Australasia (RIAA), to discuss the upcoming RIAA conference and how financial advisers can improve their skills in responsible investment.
Parker breaks down the areas of focus for the conference and the broader role of the RIAA in shaping investment practices that not only promise returns but also ensure alignment with ethical standards and values.
Listen as she discusses:
- The increasing demand among Australians for their investments to reflect their values.
- RIAA’s sustainable investment advice course, which will help financial advisers meet the evolving demands of the market.
- Why it is important for advisers to understand their clients’ attitudes towards responsible investing.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by ifa news editor Keith Ford to discuss the first bill coming out of the Quality of Advice Review and the advice profession becoming a hot-button political issue. With concerns swirling around the timeline for implementation, the Coalition has come out swinging, calling the drafting of the bill an “embarrassing blunder”. However, given the efforts of the previous government, is it a case of the right message but the wrong messenger?
In this podcast, Maja and Keith discuss:
- Criticisms of the government’s implementation of the legislation and how it positions the advice profession politically.
- Whether there will be delays in its passage through Parliament and if more legislation will be tabled this year.
- The concerns that advice associations have raised.
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic sits down with founder and director of Forte Asset Solutions, Steve Prendeville, to dissect what makes a successful advice business in 2024.
Ahead of his appearance at the Adviser Innovation Summit 2024, Prendeville discusses the evolving advice landscape, touching on the challenges and opportunities that lie ahead.
Listen as he discusses:
- The resilience of advice businesses in navigating challenges like high inflation and interest rates, highlighting the importance of organic growth opportunities.
- The stabilising trend in profit margins for advice businesses, leading to increased reinvestment in operations.
- Trends shaping the advice profession, including digital service delivery, ethical investing, and advisers’ move towards self-licensing for greater control over their business models.
In the latest episode of the ifa Show, host Keith Ford sits down with Nathan Fradley, who has recently launched a standalone advice business to focus on complex cases that require specialist attention. Fradley explains why he decided to leave his previous role and the provision of ongoing advice in favour of working with financial advisers and their clients in a way that is modelled on how a barrister works with solicitors.
Listen as they discuss:
- How “niching” within advice can improve outcomes.
- The Compensation Scheme of Last Resort levy and the need for a break from regulatory changes.
- Where the financial advice profession is heading.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Phil Anderson to discuss the industry’s concerns regarding the latest CSLR levy, emphasising the unexpected scale of the levy and its focus on covering legacy issues. Anderson, who is the general manager of policy advocacy and standards at the Financial Advice Association Australia (FAAA), highlights the unexpected scale of the levy and its focus on addressing legacy issues, expressing surprise at the burden placed on advisers.
The conversation also delves into the reasons behind advisers being tasked with covering expenses they believed would be shouldered by the government, shedding light on the complexities of the situation and its potential impacts on the advice sector.
Tune in to gain insights into this pressing issue and the ongoing efforts to address it.
There are so many amazingly successful women in the finance industry, but only a small number have a strong brand and online presence in this traditionally male-dominated industry. As we celebrate International Women’s Day, we want to help more women raise their profile and showcase the incredible professionals in this space. In this episode, partnered by Mortgage Choice (part of the REA Group), we’re picking the brain of its executive manager, corporate communications, events & franchise marketing, Sally Chadwick, to find out:
- How to build a brand presence.
- The benefits of having a strong brand presence.
- Top tips to help you get started today.
And much more!
In the latest episode of the ifa Show, host Maja Garaca Djurdjevic sits down with Adele Martin, the founder of My Money Buddy and the Savings Squad podcast, on the occasion of International Women’s Day.
Martin and Djurdjevic discuss the latest gender pay gap data, as well as ways to attract more women into financial advice and the potential for women to make a significant impact in the sector.
Listen as they discuss:
- The importance of fair representation.
- The role advice plays in helping women secure safe financial futures.
- How advisers celebrating achievements can help financial advice move closer to achieving gender equality.
In this episode of the ifa Show, host Keith Ford is joined by Peter Johnston, executive director of the Association of Independently Owned Financial Professionals (AIOFP), to discuss the recent creation of a new joint association. Mr Johnston explains why the AIOFP joined forces with the Finance Brokers Association of Australasia (FBAA) to form the Independent Financial Council (IFC), as well as why now is the time for the advice profession to push its agenda in Canberra.
Listen as they discuss:
- Why Mr Johnston thinks the IFC can be more effective than the Joint Associations Working Group (JAWG).
- How the Quality of Advice Review consultations are tracking and where changes might come.
- The recent move for 400 InterPrac advisers to join the AIOFP.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by ifa news editor Keith Ford to discuss the latest on the QAR and other regulatory changes affecting the profession. A year has passed since Minister for Financial Services Stephen Jones released the final report on the Quality of Advice Review, a move that was eagerly awaited by the financial advice community. Despite the release, the journey towards implementing the recommendations has been slow, marked by a series of roundtables and consultations.
In this podcast, Maja and Keith discuss:
- The likelihood that QAR commitments will be legislated this year.
- Treasury’s Senate estimates appearance and the “qualified adviser” conundrum.
- The implications of the ASIC levy increase for advisers, and more.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Angus Taylor, a financial adviser at Sheffield Financial, to discuss his unconventional path from working in a mine in central Queensland to financial advice. Mr Taylor explains why he made the move to financial services and breaks down the difficulty he had breaking into the sector before being able to start his own financial advice practice.
Listen as they discuss:
- The ongoing impact of the royal commission five years on and the importance of adapting to changing regulations.
- The confusion that has been created with the proposed addition of “qualified advisers”.
- How advisers can deal with the growing demand for financial advice.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Blake Briggs, the chief executive officer of the Financial Services Council (FSC), to discuss the issues impacting the financial advice profession and Australians at large. Mr Briggs examines the government’s bold approach to tax reform – both in relation to the stage three tax cuts and within the superannuation system – and highlights the importance of certainty and stability in tax settings to maintain consumer confidence.
Listen as they discuss:
- Why he is optimistic about the outcomes of the Quality of Advice Review.
- The importance of advisers registering with ASIC and the need for transparency in the ASIC levy.
- The busy year ahead with retirement income reforms, changes to the managed investment scheme review, and the implementation of the CSLR.
In this special episode of the ifa Show, we bring you a chat editor Maja Garaca Djurdjevic had with David Tuckwell, senior product and investment strategist at Global X ETFs, about the future trajectory of the exchange-traded fund (ETF) market and flows into bitcoin ETFs. Listen as they discuss:
- How financial advisers are helping to boost ETF growth.
- The popularity of fixed income ETFs during 2023.
- Allaying advisers’ concerns about bitcoin ETFs.
- Competition and future launches in the cryptocurrency space.
- ETFs positioned to benefit from a monetary easing environment.
In this episode of the ifa Show, host Keith Ford is joined by Glen Hare, co-founder and financial adviser at Fox & Hare, to discuss young Australians seeking financial empowerment amid changing markets. Focused on a younger demographic, Mr Hare emphasises a holistic approach to address diverse financial goals, from property ownership to stock market investments, and highlights the importance of education and goal flexibility. Listen as they discuss:
- The best way to address the concerns of younger clients.
- The varied reasons young Australians seek financial advice and the importance of dispelling misconceptions about age and wealth.
- The significance of educating clients, breaking down misconceptions, and supporting young Australians in cultivating financial empowerment for a secure and prosperous future.
In this episode of the ifa Show, host Keith Ford is joined by the CEO of Verse Wealth, Corey Wastle, to discuss the important role that client experience plays in an advice business. Mr Wastle explains what exactly falls within the realm of the client experience and why it is so important, as well as how Verse frames everything around values, intentions, and financial wellbeing.
Listen as they discuss:
- The best ways to approach the client experience and how digitising the process helps.
- How Verse has implemented video SOAs and why it is better for clients.
- The importance of culture within an advice firm.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Peter Johnston, executive director of the Association of Independently Owned Financial Professionals (AIOFP), to discuss a range of new programs for its members.
Mr Johnston details the referral relationship between the AIOFP and UK-based private bank and wealth manager Coutts, as well as a joint venture with Next Rural, an Australian-based group part-owned by accounting firm PKF.
Listen as they discuss:
- The AIOFP’s focus on elevating its Certified Financial Strategist (CFS) designation.
- Its continuing education program, Aspire, which offers discounts to members
- Why it is important to take a bipartisan approach to political lobbying.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by journalist Keith Ford to take a look at the government’s newly announced policy stance on the second and third tranches of the QAR. The pair discuss everything that has come out of Financial Services Minister Stephen Jones’ Canberra announcement, which was met with disbelief from the advice community. Listen as they discuss:
- The new class of “qualified advisers” that institutions will be able to employ – and why that term should change.
- How the profession has reacted to the announcement.
- Whether the negative attention on the controversial elements overshadowed the positive.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Eugene Ardino, chief executive officer at Lifespan Financial Planning, and Tony Mantineo, head of Lifespan Partnership, to discuss the rise of self-licensed advisers. Mr Ardino and Mr Mantineo explain some of the factors behind the increase in the number of advisers that are opting for self-licensing and the scale of the change, as well as how Lifespan works with advisers wanting to strike out on their own.
Listen as they discuss:
- The responsibilities and workload associated with running your own AFSL.
- How the trend of mergers and acquisitions within the advice industry is impacting the move to self-licensing.
- The importance of community and networking for advisers.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Kerry Ong, the general manager of customer wealth at Iress, to discuss improving the efficiency and accessibility of financial advice in Australia. Mr Ong touches on the significant challenges facing the industry, including regulatory changes and cost pressures, which have necessitated doing more with less, as well as how Iress is responding by enhancing its software and services to better align with evolving business models.
Listen as they discuss:
- How the quality of advice review and subsequent legislative changes have underscored the need for more accessible advice.
- The findings of the Iress 2023 Financial Advice Efficiency Report.
- Iress’ new community platform, Advisely, which aims to foster peer-to-peer discussion and connect advisers with industry experts.
Following the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. In this episode, we chat to Rebecca Warren, executive general manager of small-business banking at CommBank, about how she navigated a historically male-dominated industry over her 20-year career and why she believes inclusion and diversity are not just morally imperative, but key to achieving superior business results. Tune in to find out:
- Why she loves commercial finance.
- The secret power of ‘quiet achievers’.
- How CommBank is creating a more inclusive and supportive work culture.
And much more!
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by the general manager of consulting at Elixir, Sue Viskovic, to discuss her recent business merger, the evolving landscape of financial advice, and the role of technology in shaping the industry’s future. Ms Viskovic explains the strategic decision to merge with Vital Business Partners (VBP), which brings greater access to capital, the ability to scale more rapidly, and ultimately, provide better and more efficient services to advice firms. Listen as they discuss:
- What changes with a move into a new role, and what doesn’t.
- The potential of AI in the financial advice sector, particularly around automating business processes and improving efficiency.
- The government’s first Quality of Advice Review draft legislation.
Following the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space.
In this episode, we chat to Suzanne Wood, state general manager residential broker Victoria/Tasmania at Westpac Group (and state chair of the Women of Westpac employee advocacy group), about how she climbed the career ladder in banking and the power of having strong female role models.
Tune in to find out:
- How she learnt the art of having difficult conversations.
- The perils of unconscious bias and how to tackle them.
- How Westpac is supporting women through the Women of Westpac employee advocacy group.
And much more!
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by journalist Keith Ford to take a look at the first tranche of legislation for the government’s Delivering Better Financial Outcomes package of reforms. The pair discuss what is included in the draft legislation announced by Financial Services Minister Stephen Jones – and what isn’t. They also break down the minister’s comments and how advisers have reacted to the news.
Listen as they discuss:
- The notable omission of measures relating to statements of advice and the removal of safe harbour provisions.
- The response from industry bodies and advice associations.
- What’s next for the Quality of Advice Review reforms.
In this episode of the ifa Show, host Keith Ford is joined by Steve Prendeville, founder and director of Forte Asset Solutions, to examine what the future landscape of the advice profession will look like. Mr Prendeville explains why we are on the verge of a golden age of advice, spurred on by what he sees as an imminent period of legislative stability when the Quality of Advice Review changes are eventually implemented. Listen as they discuss: * How mergers and acquisitions within the advice space will lead to “super boutiques”. * The rise of multidisciplinary firms working under a single umbrella. * What the financial advice environment will look like over the next decade.
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. In this episode, we chat to Anjali Crossette, manager of motor operations at non-bank lender Liberty, about breaking barriers and misconceptions about car finance and why she believes the industry needs to showcase gender diversity across every rung of the career ladder. Tune in to find out:
- Why the finance industry is an attractive industry to work in for women.
- The progress being made in gender diversity in car finance.
- How Liberty is leading the way by example.
And much more!
In this episode of the ifa Show, host Keith Ford is joined by Adam Holster, professional services banking executive at NAB, to discuss the optimistic outlook for growth among advice practices. Mr Holster explains the findings of recent NAB research that the majority of advice firms expect strong growth over the next 12 months, how this is enabling them to attract their ideal clients, and why advice is all about people. Listen as they discuss: * The impact of regulation on advisers and how the Quality of Advice Review will play out. * How younger advisers can enter the industry with banks no longer a pipeline. * How an increase in mergers and acquisitions will impact the industry.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Conaill Keniry, the founder of The Adviser Games, to discuss what exactly the games entail. Mr Keniry explains what prompted the idea to reshape and energise the professional development day format into a series of games that are more fun and interesting than the standard fair advisers are used to. Listen as they discuss: • How the first Amazing Race-style event was received by attendees and partners. • The plans for future The Adviser Games events in different cities. • A sense of optimism around the profession heading into 2024 as legislative changes begin to clear up.
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. Deslie Taylor, principal at Mortgage Choice Ormeau in Queensland, is one of the top brokers in the country, having settled over $1 billion in loans in her 16-year career and taken home numerous awards including Mortgage Broker of the Year at the Women in Finance Awards multiple years in a row. In this episode, we chat to Ms Taylor about how she runs her award-winning brokerage and find out from Aaron Slater, general manager of distribution at Mortgage Choice (principal partner of the Women in Finance Summit and Awards 2023), how we can help support and create more inclusive workplaces. Tune in to find out:
- The power of being an empathetic leader.
- The art of practising continuous improvement.
- How Mortgage Choice’s Aspire program is supporting women in finance.
And much more!
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Olympian and financial adviser at HLB Mann Judd Sarah Carli, to discuss how she made her way from the track to financial advice.
Ms Carli, who competed in the 400-metre hurdles at the Tokyo Olympics in 2020, explains how she found her way to financial advice and the valuable skills she has learnt as an adviser that have positively impacted her athletic career, as well as how she balances being a professional athlete with working full time. Listen as they discuss:
- The importance of a supportive work environment.
- How she balances her professional and athletic commitments.
- How there are more transferable skills between athletics and advice than many might expect.
- Her goals beyond the Paris Olympics for both her career as an athlete and an adviser.
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. Joanna James is an advocate for constant reinvention and resilience, having adapted to change over her career in the finance space herself. Having worked in the lending space for more than 20 years – including as the general manager of non-bank lender Mortgage Ezy – she now helps support women in building successful businesses through Artemis Space, a women’s community group delivered by the Finance Brokers Association of Australia. In this episode, Annie Kane sits down with Joanna James to find out:
- Why success is subjective.
- The power of visualisation, emotionalisation and manifestation.
- Why she believes the finance industry is a great industry for women.
And much more!
Join us for an exclusive interview as ifa editor Maja Garaca Djurdjevic sits down with Financial Services Minister Stephen Jones. In this conversation, Minister Jones shares his candid assessment of the progress in financial advice, discusses his goals for the industry, addresses criticism surrounding his approach to the Quality of Advice Review, and delves into the role of superannuation funds, banks, and insurers in shaping the future of advice. Discover the minister's vision for the advice industry and his plans to inspire young Australians to pursue careers in this field. You’ll hear:
- Minister Jones' reflections on his commitment to addressing industry issues and the progress made during his first year and a half in government.
- Insights into the legislative timeline for streams one and two of the Quality of Advice Review response.
- The minister's views on consumer protection, Michelle Levy’s good advice model, and strategies to encourage funds to offer advice.
- The enactment of the experience pathway, its reception, and Minister Jones' message to those who find it contentious.
Ahead of the Women in Finance Summit and Awards 2023, we’re catching up with some of the leading women in the financial services space. Tanya Sale co-founded mortgage aggregation group outsource Financial with Andrea Tassis 13 years ago, with Ms Sale now one of the very few female chief executives in the mortgage industry. In this episode, Annie Kane sits down with Ms Sale to find out:
- How a piggy bank triggered her love of finance
- Why she started her own aggregation business
- Why she believes support is critical to succeed as a female business leader
And much more!
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Kelly Power, chief executive officer of superannuation at Colonial First State, to discuss the recent CFS research on the value of financial advice. The research, conducted by CFS, shows that 53 per cent of Australians aged 16 to 39 are open to financial advice. Ms Power examines what this means for the way we understand young people’s relationship with advice, and covers a range of related topics. Listen as they discuss: • The role of super funds and banks in advice following the Quality of Advice Review. • How digital solutions can aid advisers and the necessity of human interaction. • The challenges faced by retirees in managing their finances.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by George Haramis, the CEO of moneyGPS and accountantsGPS, to discuss the rise of digital advice in the financial services industry.
With over 30 years of experience in the financial services industry, Mr Haramis provides valuable insights into the development and growth of digital advice, and why incorporating digital advice into advisory firms’ business models will be essential moving forward.
Listen as they discuss:
- The key benefits of using digital advice platforms for advisory firms.
- The importance of digital advice in addressing intergenerational wealth transfer.
- How digital advice underpins many of the recommendations in the Quality of Advice Review, and more.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Hans Egger, founder and managing director of Astute Wheel, to discuss how digital advice can enhance the client-adviser relationship. Mr Egger explains how digital advice is a much broader term than robo-advice, and how implementing tech-driven solutions can provide efficiencies and ease the challenges financial advisers face. He also touches on the key benefits of using technology in financial advice, including its ability to bring financial plans to life, and the crucial role of technology in improving the adviser-client relationship. Finally, Mr Egger talks about Astute Wheel’s approach to digital advice and the value of client portals, before predicting where digital advice is heading over the next few years.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Adele Martin, founder of My Money Buddy and the Savings Squad podcast, to discuss how she is giving back through her business.
Ms Martin touches on how and why she implemented a profit first model in her business and speaks about why setting aside funds for charitable donations and random acts of kindness is important to her.
Ms Martin also introduces her new initiative which, in addition to charitable benefits, strives to foster a sense of community within the financial advice industry by offering support and mentorship to financial advisers.
Lastly, Ms Djurdjevic and Ms Martin touch on the latest news in financial advice, including her views on the experience pathway.
In this episode of the ifa Show, Keith Ford is joined by the CEO of moneyGPS and accountantsGPS, George Haramis, to discuss the impact of the government’s response to the Quality of Advice Review (QAR) and the future of digital advice in Australia. Mr Haramis touches on the progress of the proposed digital advice association and whether the government’s slow progress on the QAR has had an impact. He also covers the role of super funds in advice and whether they can plug the advice gap, as well as exploring some of the broader impacts of the QAR, such as the yet-to-be accepted good advice standard. Mr Haramis then touches on Treasury roundtables and the outcomes from government consultations before explaining moneyGPS’s white label digital advice product for super funds, boutique AFSLs, larger AFSLs, and accounting firms.
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by co-host Keith Ford to discuss the recent concerns raised by Sarah Abood, CEO of the Financial Advice Association Australia (FAAA), about ASIC levies and the role advisers play in ensuring Aussies retire comfortably.
Maja and Keith take a closer look at ASIC’s cost recovery implementation statement and share why the FAAA’s CEO believes the numbers just don’t line up. They discuss the steps the group has taken and whether it holds the power to influence the corporate regulator to take another look at its projections.
The conversation shifts to the intergenerational report and its findings on retirement savings. While the report predicts a significant increase in total assets in the super system over the next four decades, the government is concerned about Australians’ reluctance to spend their retirement savings. As such, Treasury is now expected to release a consultation paper to address this issue and strengthen the accessibility of retirement products by taking a closer look at advice, among other things.
The discussion also covers the roundtables being hosted by Treasury, where various stakeholders have been called upon to provide their opinions on the Quality of Advice Review.
In this episode of the ifa Show, stand-in host Keith Ford chats to Peter Johnston, executive director of the Association of Independently Owned Financial Professionals (AIOFP), to discuss the proposed good advice legislation and the power advisers have to lobby the government.
Mr Johnston explains why he believes the good advice standard would be detrimental to consumers and gives his thoughts on whether the government is likely to adopt it.
He also discusses the AIOFP’s lobbying efforts, including why the advice profession is in a unique position to influence the government with the backing of their clients, and how the various industry associations can work together to look for positive outcomes.
Additionally, Mr Johnston discusses the AIOFP’s involvement in roundtable discussions with Treasury regarding the Quality of Advice Review (QAR), as well as some highlights from the association’s recent conferences in Bangkok and London.
In this special episode of the ifa podcast, our host is joined by QAR review lead Michelle Levy and FAAA CEO Sarah Abood to discuss the government’s QAR response.
This podcast brings you an audio version of our recent webcast hosted by ifa editor Maja Garaca Djurdjevic who was joined by QAR lead Michelle Levy and the CEO of the Financial Advice Association Australia, Sarah Abood.
Ms Levy and Ms Abood share their thoughts on the government’s QAR response and dissect certain recommendations, including the expansion of the super funds’ advisory powers.
At times, Ms Levy and Ms Abood disagree on areas of the review, including the name that should be given to superannuation employees providing information/advice to their members.
Ms Levy discusses why she believes the absence of good advice exposes funds to conflicts of interest, while Ms Abood shares why defining the good advice duty is crucial.
Moreover, the pair discuss the future of statements of advice, and Ms Abood provides an update on the progress of the consultation with government.
In this episode of the ifa show, stand-in host Keith Ford chats to Nigel Baker, CEO and founder of Scientiam, a pioneering company in the financial advice industry.
Mr Baker shares his journey, from working in renowned accounting firms to establishing his own independent practice, Arch Capital.
The pair delve into the challenges and opportunities faced by the advice industry, particularly in providing accessible and efficient advice to a broader market.
Mr Baker unveils Scientiam’s innovative approach to addressing these challenges by leveraging technology to create a seamless client experience, while also touching on the future of financial advice and exploring how the industry can adapt to changing client needs and expectations.
Moreover, Mr Baker emphasises the importance of separating advice from product recommendations and enabling clients to make informed decisions based on their unique circumstances.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by the chief executive of Lifespan Financial Planning, Eugene Ardino, to delve into the latest developments in the financial advice industry.
Mr Ardino discusses the government’s response to the Quality of Advice Review (QAR), the experience pathway, and the increasing ASIC levy.
He shares why, despite the disappointment with the ASIC levy increase, he remains optimistic about the industry.
Mr Ardino also touches on the potential impact of the QAR and the government’s support for certain recommendations and acknowledges there are certain challenges in defining and implementing a good advice duty.
He also shares his thoughts on the simplification of statements of advice (SOAs) and why he anticipates that the government and regulators will work together to define what a good record of advice should look like.
Moreover, Mr Ardino dismisses concerns that licensees would still enforce lengthy documents and emphasises the importance of industry consensus and consumer-centred approach.
In this episode of the ifa show, host Maja Garaca Djurdjevic sits down with Marc Hraiki, the executive director of sales and services at Lonsec.
Together, they delve into the ever-changing landscape of financial advice and discuss why Mr Hraiki believes there has never been a better time to be an adviser.
Amid market volatility, decreasing adviser numbers, and growing complexity in Australians’ financial needs, Mr Hraiki highlights the tremendous opportunities for strong advice businesses.
The pair also discuss the top three concerns keeping advisers awake at night and the ongoing challenge of making advice more accessible and affordable for all Australians.
Mr Hraiki shares his insights on the impact of technology and innovation and offers valuable advice for young professionals considering a career in the advice industry.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by the head of policy at the Financial Advice Association Australia, Phil Anderson, to discuss the official end of the AFA and the broader advice landscape.
With the Association of Financial Advisers officially winding up, Phil Anderson reflects on the importance of professional associations and shares why he is more optimistic about the future than he has been for a long time.
Mr Anderson also speaks about the Quality of Advice Review, the consultation process that is currently underway, and explains why he doesn’t expect draft legislation for the review’s recommendations this year.
Moreover, he touches on the outcome of the class action brought by advisers against AMP over BOLR changes and shares why he believes there is “real momentum” towards changing the regulatory regime that will make advice less costly to provide and access.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by AstuteWheel’s managing director, Hans Egger, to discuss the most compelling reasons for advisers to consider client portals.
With over 25 years of experience in the financial planning industry, Mr Egger shares his journey of developing tools and modelling calculators to enhance client advice and comprehension of complex strategies.
He discusses the growing adoption of technology by financial advisers, particularly in client engagement and streamlined processes, as well as emphasising the importance of secure client portals which not only protect sensitive data but also provide a comprehensive platform for clients to access their financial information, track goals, and communicate with their advisers.
Mr Egger also touches on the time-saving benefits of using tech tools such as questionnaires and modelling calculators, enabling advisers to focus on meaningful client interactions.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Matthew Esler, the co-founder and co-CEO of Padua Solutions.
Mr Esler discusses the government’s response to the Quality of Advice Review, including why the entry of super funds back into advice should not be cause for concern among advisers.
He adds that advisers should instead be looking to set up referral arrangements with super funds to bridge the gap between their different service offerings.
Mr Esler also touches on why the QAR represents a huge opportunity for fintechs, particularly the government’s plans to streamline advice documents.
Labelling the upcoming period the “golden age of advice”, he explains why advisers should be optimistic going forward as technology enables them to scale their business and reach more clients than ever.
In this special episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by My Money Buddy and The Savings Squad podcast founder Adele Martin to discuss the government’s QAR response and what it means for advisers.
This podcast brings you a one-on-one chat that took place at the ifa’s Adviser Innovation Summit in Melbourne where our host and Ms Martin dissected the government’s response to the Quality of Advice Review (QAR).
Ms Martin talks about the response from an adviser’s point of view, and why she would like to see less consultation and more action from the government.
She articulates her perspective on future-fit statements of advice and delves into the proposal that suggests superannuation funds will have a significant role in providing advice, highlighting why this approach may not effectively address the issue of limited access to advice.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Denis Orrock, chief strategy officer of wealth management platform Praemium.
Mr Orrock joins our host to discuss the evolving landscape of wealth management and administration platforms.
He also touches on the government’s response to the Quality of Advice Review (QAR) and how this might play out for the super funds. “I think the super funds moving to advice-style models will be interesting and how they scale their businesses for that. Are they fit-for-purpose for that today? Will they be reliant on digital or AI-generated advice versus personal advice?”
And discusses a key issue for the industry around data integration. “The bigger impact for platforms is the data that sits within the platforms ... and how do we aggregate and standardise that data to provide advisers with a consolidated view of their customer.”
Moreover, Mr Orrock discusses how wealth management platforms like Praemium can evolve to support the changes to the advice landscape on the back of the QAR, as well as how technology can help streamline and enhance the delivery of advice.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by ifa journalist Keith Ford to break down the government’s QAR response.
On Tuesday morning, Financial Service Minister Stephen Jones unveiled the government’s response to the Quality of Advice Review (QAR) final report, accepting in principle 14 of the 22 recommendations.
The pair give an overview of what the government has announced, including the “quick wins” in its first stream and how the industry has responded to what is largely a streamlining of regulatory red tape.
They also cover the more controversial aspects of the QAR, such as opening the door for superannuation funds to provide personal advice to members, before taking a look at the eight recommendations that the government has not yet accepted.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Matt van Dijk, general manager distribution Queensland/Northern Territory at Praemium.
Mr van Dijk joins the show to discuss the unmet advice needs of high-net-worth investors, with recent Praemium research showing that as many as 53 per cent of these investors are in need of quality advice tailored to their unique advice needs.
As the volume of HNW investors continues to grow beyond the $2.8 trillion of investable assets they currently hold, Mr van Dijk details these advice requirements and how advisers can respond.
He also touches on the intergenerational wealth transfer and how advisers can support it.
Namely, with HNW investors anticipating to transfer as much as $1.9 trillion to their children, the challenge for advisers is that over half are managing the inheritance themselves. As such, Mr van Dijk elaborates on what advisers should consider when looking to embed themselves in this transfer.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by My Money Buddy and The Savings Squad podcast founder Adele Martin to chat about why the intergenerational wealth transfer is a “now” problem. Ms Martin will MC ifa’s upcoming Adviser Innovation Summit, where she will also host a session on how advisers can attract the next generation of clients with engagement and advice service models that are tailored to changing customer needs.
In this podcast, Ms Martin dives into the importance of advisers taking swift action in relation to the intergenerational wealth transfer and outlines effective strategies to do so.
“We’re seeing it impact advisers,” she says.
“I spoke to an adviser recently who had seven clients pass away last year, which is really sad. He didn’t retain any of that business, so there’s $40,000-plus revenue that went out of the door.
“This is a problem for those more mature practices.”
Moreover, Ms Martin provides tangible tips on how advisers should approach Millennial clients and ensure they “do it right”.
To find out more about the Adviser Innovation Summit click here.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Jacqui Henderson, founder and chief executive of Advice Intelligence.
Ms Henderson discusses the evolution of technology in the advice space over her time in the industry, and how advisers could benefit from embracing digital innovations.
She explains the goals of the Australian Digital Advice Association (ADAA), which includes Advice Intelligence, moneyGPS, abrdn, and Ignition Advice, as well as the process behind forming the association.
The pair also cover why Ms Henderson believes that digital advice can coexist with the best interest duty, and how it can help provide advice at scale to a broader audience.
Ms Henderson will join a panel with ADAA’s other founders at this year’s Adviser Innovation Summit to discuss their goals, and how a unified and coordinated voice for digital providers can revolutionise the industry.
To secure your ticket to the Adviser Innovation Summit 2023, click here.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by George Haramis, co-founder and chief executive of moneyGPS.
Mr Haramis discusses what led to the formation of the Australian Digital Advice Association (ADAA), which includes moneyGPS, abrdn, Ignition Advice and Advice Intelligence, as well as how the process is progressing and the goals of the association.
He addresses concerns that the advice profession has about digital advice, pointing out that with the dwindling adviser numbers, technology can help streamline the process of advice and allow advisers to service more clients.
The pair also cover some of the Quality of Advice Review recommendations, including around superannuation funds offering personal advice and the ability to offer compliant advice through technology.
Mr Haramis will join a panel with the ADAA’s other founders at this year’s Adviser Innovation Summit to discuss their goals, and how a unified and coordinated voice for digital providers can revolutionise the industry.
To secure your ticket to the Adviser Innovation Summit 2023, click here.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by senior journalist James Mitchell to chat about Labor’s latest budget and missed opportunities. Maja and James reflect on some of the biggest budget announcements, including superannuation tinkering, cost-of-living measures, and an unpleasant ASIC levy announcement, while reviewing Labor’s relationship with the advice industry, to date. The duo touch on the Quality of Advice Review (QAR), the government’s delayed response, and more, including how this budget ignored advice at a time when it’s arguably needed the most. Maja and James then ask the question, “Does Labor need to show more respect to advisers?”
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Stuart Robert, shadow financial services minister and shadow assistant treasurer. Mr Robert shares his and the Liberal party’s views on the final report of the Quality of Advice Review and why they support its adoption in full, explaining why Minister Stephen Jones’ proposed review of the review is an insufficient response. “It’s like an episode of Monty Python. You’ve got a Minister presiding now over the Ministry of Silly Walks. This Michelle Levy review is an outstanding piece of work. The Coalition believes it should be implemented in full and implemented now,” the shadow minister says. Mr Robert also reflects on how the adviser industry fared under the Coalition and explains why FASEA was an act of “desperation”. The shadow minister doesn’t hold back and accuses the Labor party of holding advisers at an arm’s length.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Glen Hare talk about the role of the advice community in promoting ESG. Glen Hare, co-founder and financial adviser at Fox & Hare, joins the ifa podcast to discuss the power that advisers have to educate more than 2 million Australians about investing ethically. The pair cover B Corp certification, looking at what it means, why advisers should look into it, and how the certification process works. He also explains how important ESG is for Fox & Hare’s younger client base and how that can differ from an advice firm that works with retirees and pre-retirees, before touching on how AI could impact the industry as tools like ChatGPT become more widespread.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Peter Johnston talk about the experience pathway in light of the government’s recent announcement.
Peter Johnston, executive director of the Association of Independently Owned Financial Professionals and a longtime advocate of the experience pathway, returns to the ifa podcast to explain its potential as a game-changer for the industry.
The pair run through how the experience pathway would work in practice and whether Mr Johnston believes certain limitations need to be imposed.
He also reveals how receptive the government is to the Quality of Advice Review following his recent meeting in Canberra with the Treasury department tasked with overseeing the government’s response.
If you are suffering from depression, anxiety or suicidal thoughts, or you’re worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below: Beyond Blue: 1300 22 4636 https://www.beyondblue.org.au/ Lifeline: 13 11 14 https://www.lifeline.org.au/ Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Philippa Hunt, director at AFSL Artemis Investments, to chat through her thoughts on QAR and the need for added focus on the wellbeing of advisers. Ms Hunt speaks about her support for Minister Stephen Jones taking his time to get things right, given the “catastrophic” outcomes for the industry resulting from the rushed implementation of the royal commission’s outcomes. She emphasises the importance of considering the human and social cost of legislation and the mental health of advisers, which, she says, were severely impacted by compliance requirements. The conversation concludes with Ms Hunt’s views on the future of the financial advice industry and the need for a more holistic approach to advice. If you are suffering from depression, anxiety or suicidal thoughts, or you’re worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below: Beyond Blue: 1300 22 4636 https://www.beyondblue.org.au/ Lifeline: 13 11 14 https://www.lifeline.org.au/ Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Tanya Carlson from Amplify Wealth to share her thoughts on Minister Jones’ delayed QAR response. Ms Carlson shares why she believes advisers are change fatigued and why many are demanding answers from Financial Services Minister Stephen Jones regarding several unresolved issues. “It’s frustrating because when there’s no information, there’s misinformation or miscommunications or misinterpretations, and that can lead to pendulum swinging in various different ways in terms of how people are viewing that. And I think we’re just exhausted,” Ms Carlson says. “We’re change fatigued and we’ve had so much going on as a collective in the world with pandemics and so on, and a lot of regulation change and reform, that it just feels like, please tell us what we need to do and how we’re supposed to do it and let’s just get on with it.” She also touches on the government’s superannuation changes and shares her definition of an equitable system.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Peter Johnston dive deep on the Quality of Advice Review, the need for patience on the government response, and why advisers are the good guys. Peter Johnston, executive director of the Association of Independently Owned Financial Professionals, discusses which QAR recommendations he believes are positive and the many he doesn’t. Mr Johnston explains that the political motivations behind the review are going to hamstring its effectiveness and value, while adding that the new government must be given the same patience to present its findings that was afforded Michelle Levy. He also discusses how a shrinking pool of advisers could be a boon for those that remain.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Conaill Keniry explore important industry topics, starting with the Quality of Advice Review and proceeding to the relationship between financial advisers and dealer groups. Conaill Keniry, the founder of What If Advice and owner of small dealer group Cobalt Advisers, discusses the power struggle that many advisers face with their dealer groups. Mr Keniry explains that many advisers are unaware of the extent of a dealer group’s control over their business, including their revenue and the release of their clients. He provides several examples of the difficulties experienced by financial advisers and offers tips for those looking to migrate to a new group. Mr Keniry also talks about whether he expects the QAR to create competition among dealer groups to improve their behaviour and treatment of advisers.
In this podcast, Antony Tolfts, the CEO of Blu Horseshoe, joins host Maja Garaca Djurdjevic to discuss the challenges of limited IPO opportunities in the current market, which can make it difficult for financial advisers to help their clients find new investment opportunities for growth. Despite the limited IPO opportunities, there is, however, a silver lining. Mr Tolfts shares insights into the secondary market which is still robust and touches on recent wins at Blu Horseshoe. Overall, Mr Tolfts provides valuable insights into the investment opportunities in a limited IPO market, and how financial advisers can help their clients navigate these challenges. He also gives his opinion on the greatest tests investors and their financial advisers could face in 2023.
In honour of International Women’s Day, host Maja Garaca Djurdjevic sits down with Naomi Christopher, the head of marketing and public relations at Lonsec, to delve into the challenges and opportunities that women face in the world of financial advice. The conversation focuses on the importance of diverse voices and thoughts in the industry, the setbacks women faced due to the pandemic, and the role of financial literacy in bridging the gender pay gap. Ms Christopher shares her 13-year journey in the industry, offering valuable insights and perspectives gained from working across various parts of the finance world, including technology, research, and investment management. She speaks passionately about the challenges women face in financial advice and how to overcome them, all while encouraging diverse voices and thoughts in the industry. Moreover, Ms Christopher advocates for the importance of diverse voices and inclusion in the financial services industry, believing that a diversity of thought is critical to success, not only in financial advice but in all sectors. Overall, this episode of “The ifa Show” offers insights into the challenges and opportunities facing women in financial advice and serves as a reminder of the importance of elevating diverse voices.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Dr Katherine Hunt, a financial adviser and researcher at Griffith Business School.
Dr Hunt explains why she believes the advice profession is the “number one winner” of the Quality of Advice Review and how it promises to walk back what she describes as “government overreach”.
Looking at the recommendation to remove statements of advice, she outlines how the change could work but cautions that without details, advisers shouldn’t get ahead of themselves.
Dr Hunt also touches on getting new advisers into the profession, as well as the role of adviser education standards.
Finally, she talks about how advisers can continue to work through the continuous changes to the industry and show their resilience.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Ben Neilson, adviser and researcher at Neilson & Co Wealth Management. Mr Neilson explains why he thinks Michelle Levy has done “a fantastic” job by taking an incredibly complicated piece of “building-block based legislation” and turning it into a coherent report. He touches on the potential expansion of the scope of personal advice, and explains why he feels allowing superannuation funds back into advice isn’t a bad thing. Mr Neilson also talks about creating a unified voice in advice and how that voice can be appropriately channelled to create impact. Finally, he talks about ChatGPT and reveals how he utilises it in his business as a time-saving tool.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Sarah Abood, the CEO of the Financial Planning Association (FPA).
Ms Abood joins Maja to discuss the final report of the Quality of Advice Review (QAR), which was published by the government last week.
She shares her overall perspective of Michelle Levy’s recommendations and why radical change is required and what it entails.
Ms Abood also touches on Minister Stephen Jones’ intention to review the review, and why this has the potential to delay any real change.
She also addresses some of those more contentious recommendations and why the FPA does believe a few do need to be discussed and examined to protect the quality of advice and advisers.
Lastly, Ms Abood explains why she is optimistic and why 2023 will be a better year for advisers.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by AFA chief executive Phil Anderson.
The CEO of the Association of Financial Advisers (AFA) talks about the impending vote on the proposed merger of the AFA and the Financial Planning Association (FPA).
He details why he believes Michelle Levy is brave and reveals which of her recommendations he found particularly “revolutionary”.
Mr Anderson also has some wise words for those who have been most vocal in their opposition to the Quality of Advice Review.
“The Quality of Advice Review is the only game in town at the moment. This is the only way we are going to fix the problem that we all appreciate is in financial advice.
“Even our minister has described it as a hot mess. This is the only reform agenda that is in play that will achieve fundamental change. Yes, we could ask to tinker at the edges, but this is our one big opportunity to make fundamental change,” he says.
Hear more below.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Nicola Beswick, a financial adviser, and a mentor. Ms Beswick is very passionate about empowering people to create a financially certain future, free from stress and uncertainty. She’s also the chair of the Pro Bono Financial Advice Network, where she and multiple other advisers assist Australians living with a personal health crisis to improve their financial wellbeing. On the podcast, Ms Beswick details the emotional journey that led her to abandon her career as a lawyer and pursue one in financial advice. She talks about the importance of pro bono advice, but also explains the need for paid advice, and delves into how financial advisers are making a difference in people’s lives. Ms Beswick also shares why she is excited about the future of advice. “I think it’s really an exciting time to be part of the advice community because more and more people are starting to realise the benefit of getting advice and how that impacts them positively,” she said. “But then also within this really great shift of the people coming in who want to be advisers, the younger professionals, where they’re so community minded and community focused.” This, Ms Beswick said, is exactly what the industry needs.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Scott Miller, CEO of Asendium, to talk about why it’s important to increase access to advice.
Having spent many years as an adviser, Mr Miller reflects on how the industry has changed in the years since.
Paperwork, he notes, is something that has definitely swelled, with SoA management and customisation significantly cutting into the profit margins of financial planning businesses and licensees.
As such, Mr Miller talks about how Asendium is addressing the personalisation and management of SoAs, and how it will cater to 16,000 advisers who all want different strategy wording and template changes.
Moreover, Mr Miller addresses the Quality of Advice Review and expounds on why it’s important for more Australians to access advice.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Eugene Ardino, CEO at Lifespan Financial Planning. Mr Ardino talks about why he believes the pendulum of change is swinging in favour of advisers in 2023. He gives his overview of some of the key recommendations made by Michelle Levy in the Quality of Advice Review, and details why he believes it will take at least a couple of years for some of the reforms resulting from the review to be implemented. Mr Ardino also touches on Ms Levy’s latest admission that she was surprised by the extent to which advisers feel under siege.
Ease into the year with something a bit different than the usual ifa podcast fare with some of the best movies and shows about finance.
Host Maja Garaca Djurdjevic is joined by resident movie buff Keith Ford and ifa journalist Jon Bragg to have a look at some movies and shows that feature financial advice (spoiler alert: most are not kind to anyone that works in finance).
The team covers some that fit the brief perfectly and a lot more that have a tenuous connection, but you’re sure to find a few gems to watch as you get back into gear for 2023.
Get ready for a whole new year of podcasts by having a listen as we run through the biggest episodes of 2021.
Host Maja Garaca Djurdjevic is joined by ifa journalists Jon Bragg and Keith Ford to talk about the top five podcasts by listens from last year.
Topics that piqued listeners’ interest in 2022 included changes in regulation, reviews, and interviews with subject matter experts.
Tune in as the team discusses why these episodes topped the charts last year.
Listen to the full episode below.
The time has come for the final episode of the ifa Show for the year. Host Maja Garaca Djurdjevic is joined by ifa journalists Jon Bragg and Keith Ford to wrap up 2022. Maja, Jon and Keith count down the top five most-read stories on the website this year, including articles that look at adviser numbers, FASEA and the Quality of Advice Review. The team also highlights some of the most interesting or engaging comments on these popular stories. Listen to the full episode below.
In this special episode of the ifa podcast, shadow minister for cyber security and shadow minister for countering foreign interference, Senator James Paterson joins Phil Tarrant (director - Momentum Media) and MAJGEN (retired) Dr Marcus Thompson to discuss the regulatory impediments preventing Australia from becoming a leader in cyber security.
The group begins the podcast discussing the cyber security threats facing Australia and the role of the Australian Security Intelligence Organisation (ASIO).
Senator Paterson then details how foreign interference and espionage have overtaken terrorism as the primary security concern for Australia.
The team wraps up the podcast in outlining the importance of attracting the right talent with the right skills to power Australian cyber security businesses.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Haydn van Nek, operations manager at Kelly Wealth from Cairns.
Haydn joins the show to talk about a variety of topics and issues causing grief to regional advice businesses. He addresses the experience of running an advice firm in today’s uncertain legislative environment coupled with the vast remoteness of its regional setting. Haydn also shares his expectations regarding the Quality of Advice Review (QAR) and the government’s assessment of the recommendations. “One of the things we want to see is reduced cost to serve, which obviously would flow onto more affordable advice for our clients,” he noted. Other items on Mr van Nek’s wish list include reduced disclosure obligations — specifically in relation to the complexities surrounding the current statements of advice — and disclosures surrounding advice fees. Tune in to hear more.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by founder and director of Forte Asset Solutions, Steve Prendeville, to chat about the current state of the advice industry.
Mr Prendeville shares why he believes the possible return of superannuation funds and banks to the advice industry could be a “welcome addition”, and why he doesn’t see them as competitors. “I actually think that there is a great need for Australians to actually have access to limited advice or algorithmic advice.” Mr Prendeville also talks about why he believes the quality of advice has never been better and gives his thoughts on mergers and acquisitions within the industry. Additionally, this industry professional explains why he is optimistic about the future of the industry.
Camilla Love started F3 — Future Females in Finance to bring more women into the financial services industry. The program — which won the Women’s Community Program of the Year award 2022 from the Women in Finance Awards 2022 — aims to educate young women about careers and finance and nudge as many of the next generation of female talent into financial services as possible.
In this episode, partnered by Mortgage Choice, we catch up with the founder of F3 (and managing director of eInvest), Camilla Love, and Mortgage Choice's executive manager corporate communications, events & franchise marketing, Sally Chadwick, to discuss what more we can do to ensure greater female representation in finance.
Tune in to find out:
- The turning point that led Camilla Love to start F3
- What we can be doing to welcome more women into financial services
- What the future looks like for women in finance
And much more!
In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by her predecessor, James Mitchell, to chat about the state of the industry and why, perhaps, advice isn’t meant to be affordable.
James compares the state of the industry today versus when he was at the helm of ifa, and delves into some of Michelle Levy’s more controversial proposals, such as the return of the superannuation funds and banks to advice.
He also talks about the Royal Commission and why he believes it was almost perfectly made for media headlines.
Advice, James says, has “got to be one of the most challenging industries to work in from a regulatory and compliance perspective”.
Moreover, James shares why he believes there needs to be consensus regarding the definition of advice before any more tweaks and quick fixes are implemented.
In this episode of the ifa podcast, host Maja Garaca Djurdjevic sits down with Tristan Hochwallner, head of sales at Asendium, to chat about how tech is allowing advisers to spend more time with their clients.
Tristan shares the latest on the current state of the advice tech world and why advisers should review their technology solutions today.
“If we look at what a lot of people are using today, [they are] incremental legacy systems [that were] designed 10-plus years ago,” Tristan says.
“What’s happened is, technology has had to respond in a knee-jerk fashion to the changes in compliance. Every couple of years, you’ve had to quickly go, ‘This requirement has changed, how do we quickly bolt on a solution?’”
Hence, he says, we have an “amalgamation of all these different elements needing to talk to each other” but not doing it in the most efficient way.
So, while advising advisers to review their technology, Tristan also talks about the process that it entails.
He touches on Asendium’s successes as well, and what sets it apart from the rest.
Host Maja Garaca Djurdjevic is joined by Corey Wastle, the founder of independent financial advice business Verse Wealth, to talk about the adviser exodus and why proactivity matters.
Corey and Maja attempt to answer one of today’s most prominent questions — how to attract new entrants into the industry.
Corey talks about raising the awareness of advice as a career choice, why existing advisers need to be more proactive in spreading the word, and the techniques Verse Wealth uses to hire new staff amid increased competition for fewer advisers.
Corey also touches on why he believes that professional advice firms like Verse need to acknowledge that “we’re not meant to be here to serve everyone”.
“Not everyone can afford to have a professional financial adviser in their life. I think we need to be able to offer advice in different ways, in lower-cost ways, in more innovative ways,” he says.
Tune in to hear more.
Host Maja Garaca Djurdjevic is joined by the winner of Fintech Leader of the Year at the Women in Finance Awards and head of the wealth channel at myprosperity, Karolina Kuszyk, to talk about her win and what to expect from advice technology in the coming year.
Talking to Maja, Ms Kuszyk spoke about how technology providers can ease the advice burden.
“2023 is going to be the year of technology where a lot of firms are going to sit down and actually look at this.”
“I think it's important to actually understand what is out there and then make your own judgement on what you think will suit your business best.”
Ms Kuszyk added that she believes advisers will be turning their focus on mobile apps.
“Out of the last hundred thousand client logins [on myprosperity], almost 70 per cent of them were through the mobile app, not through the desktop browser. Whereas four years ago, that was 40 per cent. So you can imagine in another two years what that percentage is going to be.”
Looking further into the future, Ms Kuszyk said “technology is only as good as the adviser actually uses it”.
Tune in to hear more, including Ms Kuszyk’s message for advisers looking to exit the industry.
Host Maja Garaca Djurdjevic is joined by the CEO of WOW Women’s Group, Tracey Sofra, to chat about the changing landscape of advice and why self-care is more important than ever.
Speaking to Maja, Ms Sofra talked about how client expectations are shifting to reflect the changing global environment.
“There is no panic. It's just: “What do we do now, Trace? What's our next move?”
“As the professional people that we are, we are holding their hands and guiding them through the maze of life I suppose, and trying to get them to where they want to go. And I take it really, really seriously.”
But along this journey, Ms Sofra said that advisers too, need to make sure that they are adapting and modernising their advice.
“We've got to adapt and evolve because the world's changed forever. It's never going to go back.”
On the topic of self-care, Ms Sofra asked advisers “If you’re not well, how do you advise somebody else?”
“You've got to provide advice with your own conviction and yeah, you've got to be in a really good place yourself.”
Tune in to hear more, including Ms Sofra’s views on the number of women in advice.
The financial services industry has historically been male-dominated but encouraging more women into the space is not only good for society, but good for business too.
In this episode, partnered by Mortgage Choice, Anthony Waldron, chief executive of financial services and Mortgage Choice at the REA Group, outlines how the industry can move away from being “male, stale and pale” and encourage more women into the space.
Tune in to find out:
- The barriers that might be holding back female representation
- What can be done to encourage diversity in industry
- Why Mortgage Choice is partnering with the Women in Finance Awards 2022
And much more!
Host Maja Garaca Djurdjevic is joined by 9Rok Consulting's Kim Payne to chat about what advisers shouldn't be doing if they want to be more valuable.
Speaking to Maja, Ms Payne said advisers first need to ensure they have “the basics right”, noting that everything — even how they greet a client — influences their perceived value.
“There are so many little things, it’s not even the big stuff that needs to be focused on. Sometimes it’s just the little stuff. And the ‘how are you’ is a really good example, because we get on autopilot so much,” Ms Payne said.
Ms Payne also offers her tips to help you exercise your creativity.
Host Maja Garaca Djurdjevic is joined by AMP’s chief economist who makes sense of the government’s latest recession rhetoric.
We appear to be drowning in recession rhetoric; as such, Maja is joined by Dr Shane Oliver, who offers some much-needed clarity on our economic predicament.
Dr Oliver talks about the dangers of “talking ourselves into a recession”, offers his outlook for interest rates, and explains the predicaments surrounding the government’s first budget, as well as why we can’t compare ourselves to the UK and their market meltdown.
He also takes a deep dive into current market movements and offers some handy tips to over-anxious investors and advisers on how to help their clients in today’s murky environment.
Moreover, Dr Oliver addresses the Reserve Bank’s latest warning regarding cyber crime and climate change.
On this week’s podcast, we’re joined by Adele Martin, founder of My Money Buddy and the Savings Squad podcast.
Adele sits down with host Maja Garaca Djurdjevic to discuss the importance of raising awareness on how financial advice can better our lives and why it's fundamental to our wellbeing.
Adele explains why advice should be a service that everyone has access to.
“I remember a client that I worked with once, he was quite stressed about money; he was having his second baby, he was on some medication for his anxiety. Once we got his finances sorted — got them out of the credit card debt — he stopped taking his own anxiety medication and he contributed that to getting his finances sorted,” Adele shares.
She also talks about the power of social media and how advisers can expand their reach considerably using a few simple techniques.
The conversation also turns to the all-important Quality of Advice Review, as Adele shares how she feels about some of the more talked-about recommendations.
This week’s ifa Show podcast is joined by Dr Paul Moran, the principal of Moran Partners Financial Planning and the founder and CEO of iFactFind.
On this episode, Paul sits down with host Neil Griffiths to discuss the need for standards and protocols in financial planning and how that relates to self-regulation.
“It would make it easier to teach financial planning to people because they're learning the protocols. It would make it easier for the regulator because they would be able to make a quick judgement, had the protocols been followed, and in the court system,” he explained.
“And then from a client point of view, they're getting more certainty for what we do. And then that doesn't change the interpersonal relationship, the values-based approach we take. It doesn't change all of that sort of stuff that we do now, but the outcomes that we are producing become more known and more measurable in that regard.”
Also on this episode, Paul discusses if the advice industry is currently in a position to self-regulate, the pros and cons of the Quality of Advice Review proposal paper and what the sector could look like if it implements standards and protocols.
In this exclusive interview with shadow financial services minister and former assistant treasurer, Stuart Robert MP, the editor of ifa’s sister brand, The Adviser — Annie Kane — finds out what the Morrison government really thinks about Michelle Levy’s Quality of Advice recommendations.
The former assistant treasurer talks about the royal commission and its impact on advisers, and why he thinks it has been “for the most part, unhelpful”. He also admits that the industry should “own its own education requirements” and labels the possible return of super funds to advice “a retrograde step”, adding that “super should stick to super”.
Tune in to find out:
On a special episode of the ifa Show podcast, host Neil Griffiths is joined by Financial Planning Association of Australia(FPA) CEO Sarah Abood and the CEO of the Association of Financial Advisers (AFA), Phil Anderson, to talk about the association's intended merger announced earlier this month.
Sarah and Phil sat down with Neil to talk about how long the merger has been in the works, what it means for members and why now is the right time for the groups to come together.
“Obviously, the recent reduction in planning numbers has played a part, and it's made us on both sides, I think, think really deeply about what is the best way to use members' funds and how can we ensure that our members are going to continue to be represented effectively,” Sarah explained.
“So, I think those are the key reasons, but we certainly feel that a merger is the logical next step. We can combine the resources of both the associations and really importantly, create a united voice and stronger advocacy for financial planners and advisers.”
On this episode, Sarah and Phil also discussed intentions for how the new association will operate, including staff appointments, and how the upcoming Quality of Advice Review will impact the association and industry.
On a new episode of the ifa Show, host Neil Griffiths is joined by senior financial adviser at Tribeca Financial and Ethos Australia director, Nathan Fradley.
Nathan joined this week’s podcast to talk about the human side of financial advice and why the “best” advisers are focusing on financial wellbeing behaviours and coaching over products.
“If you think about traditional advice, a bit of technical competency and goal setting, it's like: ‘Can you meet this goal? Oh, we put a million dollars in this portfolio. You get $50 grand a year. You can retire. Check.’
“I think the best advisers now, the ones setting the standard, are saying: ‘What does it look like in 10 years for you from a social interaction perspective? How are you gaining your social needs once you're retired? Or how are you building meaningful connection with your friends and family? What are you doing from a sense of purpose and how do we facilitate that and money being a tool to enable that?’
“And that connection becomes far more than just: ‘Well, they did my super and insurance.’ That's the hygiene, that's the easy stuff. This becomes really understanding who we're working with, intrinsically caring for them and to a point where we are taking what they say is important and what they do, and we are combining those two things to be the same, in the same direction.”
On this episode, Nathan also discusses how finfluencers fit into the “human side” of advice conversation, what advice will look like in the future if its properly adopted by advisers and his views on the proposals for the upcoming Quality of Advice Review.
On a new episode of the ifa Show, host Neil Griffiths sits down with the co-founder and president of Aussie advice business management platform Practifi, Adrian Johnstone.
Adrian joined the show to discuss the “data paradox”, the benefits of M&As in the advice space, and how embracing technology can benefit advisers and firms.
“So, integration is just so fundamental… but I think the firms, sometimes, it's easy to go the other way around,” he said.
“What are they missing out on if they don't? And of course, they're missing out on efficiency, they're increasing risk. They're adding cost to their businesses because they miss out on the scale benefits.”
On this episode, Adrian also discussed cyber security in advice and how technology can assist advisers’ compliance and regulation concerns.
On this very special episode of the ifa Show, host Neil Griffiths is joined by the reviewer of the upcoming Quality of Advice Review, Michelle Levy.
The Allens partner sat down to discuss the progress on the report, due out in December, and her opinion on the current state of the advice sector in Australia.
“I think we need to make quite significant changes to the way financial advice and the provision of advice is regulated,” she said.
“I don’t think it is a matter of just crossing a few things out. Now, is that realistic? I am hopeful that it is.”
Also on this episode, Michelle looks at some of the submissions put through industry groups, the role of regulators such as ASIC in improving the industry and her hopes for the recommendations that she’ll put forward in December.
Zenith's head of consulting, Stephen Tang, joins a brand new episode of the ifa Show.
On this episode, Stephen joins host Neil Griffiths to discuss the growing popularity of managed accounts and how the relationship between it and financial advisers has continued to grow in recent years.
What started as a "novel idea" some years ago has now flourished and the COVID pandemic also accelerated the growth of managed accounts in the advice space.
Only in recent years, Zenith managed roughly $1 billion in managed accounts under advice. Today, it manages $4.2 billion.
"I think [the pandemic] was a good test moment for managed accounts," Stephen said.
"People started to understand the real benefit of a managed account, [during] that COVID period clue. Really volatile time. Everything happened.
"A really key benefit of a managed account, is that we were monitoring these on a daily basis, looking at the portfolios across our client base, and when we made changes, we did it across all our clients on the same day. That was the real key benefit. Everyone got the benefit of us making changes to the portfolios at the same time."
On this episode, Stephen also discusses why advisers are continuing to turn to managed accounts, how they can use managed accounts to work through the current climate and how advisers can ensure portfolios stay resilient through uncertain times.
On a new episode of the ifa Show, host Neil Griffiths is joined by Nigel Baker, founder of digital solution, Scientiam.
Nigel joined the podcast to discuss the issues that are stopping the advice industry from not only surviving, but thriving.
"There's obviously been the whole shake-up of the financial planning industry and that was needed, but a lot of people don't trust the industry," he said.
"Therefore, they go online and try and find things and get stuck with… maybe some of it's good, some of it's bad. So, really what we want [is] that regulatory framework to be able to enable that advice process."
On this episode, Nigel also discusses his opinion on the upcoming Quality of Advice Review, Scientiam's submission to Treasury and what the future of advice looks like.
On a new episode of the ifa Show, host Neil Griffiths is joined by the Association of Financial Advisers (AFA) CEO, Phil Anderson.
On this episode, Phil discusses the AFA's Quality of Advice Review (QAR) submission, the association's opposition to some other submissions entered by industry groups, and why the QAR alongside the appointment of a new financial services minister signals a huge change for the sector.
"I think the Quality of Advice Review is what is going to address the fundamental issues that we have at the moment with access and affordability of financial advice," Phil said.
"I think all of them are hopefully going to contribute to what we would like to see, which is a return to growth in the advice market, and that means more advisers. We want to hold on to as many of the existing advisers as we can. We want a steady flow of new advisors into the market."
He added: "I think we've got to a point where the demand for advice exceeds the supply. All the conversations I have suggest that people are not having any difficulty finding new clients, and some businesses are going really well."
Listen to the full episode below.
On a new episode of the ifa Show podcast, host Neil Griffiths is joined by FINSIA CEO and managing director, Yasser El-Ansary. Yasser joined this week's show to discuss the state of the advice industry in 2022 and the importance of December's Quality of Advice Review (QAR).
"I'm certainly one that believes we can do better through this review at creating a robust environment for financial advice that supports all of those big picture outcomes that governments, and indeed, consumers in our economy are looking for," Yasser said. "But we also have to be realistic that the pace of change in financial services, the role of innovation and technology in adapting and evolving the way that financial services is delivered right across the B2C market, as well as the B2B market means that there will probably be a need for governments to continue to maintain a close watching brief on a space like financial advice. So I think the timing is right. I think the work that is being done here is hugely important."
On the episode, Yasser also discusses FINSIA's QAR submission, the sector's biggest issues and expectations following the review.
Artificial intelligence, the metaverse… these are just some of the ever-present terms explained in this week’s ifa Show podcast.
Host Maja Garaca Djurdjevic is joined by Dr Catriona Wallace, the executive director of the Gradient Institute, Adjunct Professor at the Australian Graduate School of Management, and the founder of the Responsible Metaverse Alliance.
Dr Wallace speaks about artificial intelligence, its pervasiveness in everyday life and why advisers need to pay more attention or risk being left behind.
“In an average adviser’s job, there’s probably about 40 per cent of just mundane, admin, routine tasks that could in fact be done by an artificially intelligent machine software,” Dr Wallace says.
“We also know, on average, that an employee spends one day a week searching for information they need to do their job. AI can come in as almost a subject matter expert to provide information to advisers that they need to their job.”
Addressing fears that AI will replace jobs, Dr Wallace clears up the misconceptions.
She also delves into the metaverse, what it is, what it means and why advisers should take note.
The benefits of managed accounts are the focus of this week’s ifa Show podcast.
As the use of managed accounts continues to grow, host Maja Garaca Djurdjevic is this week joined by HUB24 head of managed portfolios Brett Mennie, Elixir Consulting expert business strategist Graham Burnard, WOW Women Group founder and CEO Tracey Sofra and Private Wealth Partners financial adviser Damien Skidmore to discuss their biggest benefits.
"Running a practice has now become quite complex, quite compliance burden-orientated. Costs have gone up in delivering advice to clients and advisers are looking for, within their practice, to become more efficient, looking at where their time is spent," said Mr Mennie.
“Managed accounts solve that dilemma while also reducing risk in the practice, so it more systematises the practice.”
Combating the cost of delay, having professional management oversight and deepening the client relationship were among the key benefits highlighted by this week’s guests.
Ms Sofra and Mr Skidmore also shared their own perspectives on transitioning to managed accounts, while Mr Burnard stressed the importance of having a plan in place before making the jump.
Host Maja Garaca Djurdjevic is joined by AMP’s chief economist who offers a little clarity to an otherwise murky investing environment.
Rising inflation, lifting interest rates, stock market tumbles, the likelihood of a recession or perhaps a stagflation… Needless to say, current economic trends are troubling investors and their advisers.
As such, ifa editor Maja invited Shane Oliver on the show to objectively evaluate our current economic predicament.
Dr Oliver talks about why a recession can be avoided and shares his outlook for interest rates. He explains why he takes Philip Lowe’s recession comments with a grain of salt and offers his view of the performance of the Reserve Bank, reflecting on its recent stubbornness on what would become an embarrassing error on 2024 rate rise.
Dr Oliver provides some handy tips to scorched investors and explains why the best outcome for share markets would be a sharp slowdown in economic data.
ClearView managing director Simon Swanson joins this week’s ifa Show podcast.
After issuing its Quality of Advice Review (QAR) submission to Treasury this month, Mr Swanson joined host Neil Griffiths to talk about what he believes is the biggest issue in advice today – the simplification process.
“The analogy I'd draw, is actually going to see a doctor, right? You go to see a doctor. The doctor says, ‘How are you, Neil?’ And you say, ‘I've got a cold.’ So you've actually self-diagnosed here. The doctor has actually not diagnosed. You've diagnosed yourself, right?
"Then you have a conversation with a doctor who may say, ‘You need a script’, et cetera, et cetera. Does the doctor say, ‘Look, I need to do a statement of advice. I need to recommend three different types of medicine to actually resolve your cold, flu, broken leg, whatever you've got. And then I need you to go away for a while I write up a statement of advice. And then I'd like you to come back in two weeks' time?’ At which stage your broken leg is probably quite sore, right? It's just a crazy process.
“We've got to be in the financial advice game.”
On this episode, Mr Swanson also dissects the survey that ClearView released alongside its QAR submission and his predictions for what the review will bring in December.
On a new episode of the ifa Show, host Neil Griffiths is joined by Shane Bell, cyber partner at specialist advisory and restructuring firm, McGrathNicol.
Shane joined the podcast to discuss the recent landmark ruling, in which the Federal Court found that local firm RI Advice breached its licence obligations by failing to have adequate risk management systems to manage its cyber security risks, and what it means for advisers and practices moving forward.
Shane suggested that cyber security be one of the top priorities for firms.
“I completely acknowledge and appreciate that there is a huge amount of competing risk issues at the most senior levels of organisations, where it's hard to distil all that down and give everything a voice. But cyber security absolutely has to be there,” he said.
“If I'm a financial adviser, I'm doing things using technology every single day in my interactions with clients, in my upwards reporting.
“So technology is embedded in everything that we're doing. And for that reason, cyber security has to be in some of the top risks that you're considering.”
This week’s episode of the ifa Show podcast sees host Maja Garaca Djurdjevic joined by Steven Bennett, CEO at Charter Hall.
Mr Bennett joined Maja to talk about the importance of a well-diversified portfolio and the benefits of including commercial property.
“Property brings something to a lot of portfolios that's really beneficial,” said Mr Bennett.
“It's less volatile.
“Unlisted property doesn't move other than independent valuations, as well as other out-of-cycle rental growth and so on. So, from that point of view, it does provide that lower volatility and it's not highly correlated to those other asset classes like your Aussie equities, global equities,” Mr Bennett added.
Also on this podcast, Mr Bennett delves into building a property investment portfolio from start to finish and explains why he still believes the office will remain the dominant place to work.
On a new episode of the ifa Show, host Neil Griffiths is joined by executive director of the Association of Independently Owned Financial Professionals (AIOFP), Peter Johnston.
Peter joined the podcast to talk about the federal election aftermath, what the change of government will mean for the advice industry, and what the priorities are.
“Well, the first thing that needs to be fixed is this cliff facing about up to 3,000 risk advisers,” he said.
"And these people, if they don’t pass it by 1 September, they’re actually kicked out of the industry, which would be a tragedy.
“The second thing we need is to get this compliance regime fixed. Minimum 50 per cent of these need to be wiped out.”
On this episode, Neil and Peter also discuss shadow financial services minister Stephen Jones’ previous comments about immediate action on changes to education standards and what the industry can do to work alongside government to enact positive change.
This week’s episode of the ifa Show podcast sees host Neil Griffiths joined Scott Miller, CEO and co-founder of financial advice disruptor, Asendium.
On this episode, Scott discusses why the advice industry is on the precipice of even more change after the impacts of the COVID-19 pandemic and with a predicted exodus of advisers by 2026.
“But there’s also going to be a great opportunity,” Scott said.
“Now, what I mean by that is, planners will be able to access and service more clients as a result of the shrinking industry… one of the reasons I see planners changing as well, and the industry on change, is technology has become the forefront of everything right now.”
On this episode, Neil and Scott also talk about why it’s becoming more cost-effective to be an independent financial adviser, what licensees can be doing to support advisers though this change, and analyse the state of Australia’s technology ecosystem in 2022.
Integrated Portfolio Solutions COO Nigel Singh joined host Neil Griffiths on a new episode of the ifa Show.
On this episode, Neil and Nigel discussed the technology trends that could drive the industry forward over the next five to 10 years, including the rise of crypto-assets.
“There’s going to be some advisers that feel comfortable giving advice about it. There’s going to be some advisers that don’t want to touch it with a 10-foot pole.
“So this is going to be a huge thematic, obviously over the next five to 10 years, that I think we need to be conscious of, but it’s not just crypto. I think it’s just alternative assets.”
Also on this episode, Neil and Nigel look at the opportunities for financial advisers with these rising trends and what regulators’ involvement in the space.
On a new episode of the ifa Show, host Neil Griffiths is joined by co-founder of financial planning software company, Plutosoft, Vincent Holland.
Vincent joined the podcast to discuss the importance of running an efficient and profitable financial planning business and how businesses are tracking in 2022.
“Look, rightly or wrongly that the compliance framework is what it is, others will judge whether that’s a good or bad thing. We can only deal with what’s in front of us. And it is a very compliance-driven industry,” he said.
“So that really underscores why you need to be efficient, because that red tape puts so much more time in the process. So you need to be able to automate those parts of the process which don’t add value. And really the goal is to free up the adviser’s time so that you’re spending your time on the things where you can add the most value for the client.”
On this episode, Neil and Vincent also look at what financial planning businesses are doing right, what needs to be improved, and what Vincent’s thoughts are heading into the Quality of Advice Review in December.
On a new episode of the ifa Show, host Neil Griffiths is joined by DASH CEO, Andrew Whelan.
The head of the advice software and platform solutions provider joined the podcast to discuss the company’s recent rebrand from WealthO2, its recent merger with Roar Software and what that means for its role in the advice industry.
“I don’t think there is a world out there and a version of this world where the advisers start to view the platform as being commoditised,” Andrew said.
“And I think the fact that also you have now 2.0 platforms per practice on average… which suggests as a technology solution, if you’ve got between three and six of anything in your practice, are they actually providing a solution or are they just a straight vendor? Or is that a product that you’ve got and you use from time to time?
“So we really sort of challenged ourselves from a strategic point of view - what do advisers need in our platform to add to that line-up that they’ve already got? What are the problems they’re facing? Is there a need for another platform on its own?”
Also on this episode, Neil and Andrew discussed the need for the tech and platform industry to step up for advisers, regulation in the space, and expectations over the next few years.
This week’s ifa Show podcast is joined by special guest and head of advice sales at Midwinter, Stacey Cowan.
Stacey sat down with show host, Neil Griffiths, to discuss the large amount of movement and change in the advice industry in recent years, particularly following the Royal Commission and throughout the COVID-19 pandemic.
Rather than looking at it through the lens of the global great resignation movement, Stacey prefers to call it “the great advice reset”.
“I think this idea of the advice reset is more that when we're talking to advice businesses, a lot of them are really interested in evolving with this change,” she said.
“It’s actually more about how do we embrace the change and adapt with it? And I think the idea of the reset rather than the resignation is really coming through when you see all these great updates and exciting changes that people are starting to explore and implement.”
Also on this episode, Stacey and Neil look at what adviser expectations are in 2022, how concepts like digital adoption can help practices and what the biggest trends are in the industry right now.
On this week’s ifa Show, host Neil Griffiths is joined by MetLife Australia’s head of customer strategy and propositions, Matt Lippiatt.
On this episode, Matt and Neil discussed how Australian financial advisers can use health services to grow their businesses and how that has changed in recent years.
“I know of some businesses out there… who have been on this journey for a number of years. And for them, health and wellbeing, tied to a goals-based advice process, this is their bread and butter,” Matt said.
“For others, the value proposition that they've had has been quite focused and it's been fit for purpose. So not knocking it, but it's been quite focused on ‘how do you add value through superior investment performance, structuring tax efficiency’, all the bread and butter things that we would associate with what a financial planner does.
“But I guess there's an opportunity there, and really it's about advisers working out what's right for them.”
Neil and Matt also looked at how the insurance industry has shifted throughout the COVID-19 pandemic, as well as the adviser-client relationship, and shared expectations and predictions for the sector over the next 12 months.
On a new episode of the ifa Show podcast, host Neil Griffiths is joined by FinClear CEO David Ferrall and general manager, Dean Jagger.
On this episode, David and Dean react to the announcement of the clearing, settlement and wealth management technology and service provider’s new digital facility, FCX, and the future of investing and what that looks like for financial advisers.
In particular, the role of regulation in regards to technology and growing features such as crypto-assets, will play a big part.
“The problem with this unregulated world is that it’s unregulated and the regulators don’t have any transparency. They can’t see into it. It’s all decentralised peer to peer,” David explained.
“Financial markets have always operated up till now on central trusted counterparts that the regulator oversees and can always look into and chase you down if need be… with this centralised capability, that capability is just not there.
“The regulators are struggling with how to regulate that world, how to look at that world, how to make it more transparent.
“Really what we are doing here is saying we actually don’t know how that resolves itself, and it might take some time, but what we are doing is bridging the old world into the new world.”
On this episode, the Australian fintech provider sat down with host Neil Griffiths ahead of his appearance at the 2022 Adviser Innovation Summit events in June to talk advisers coming out of the pandemic and why the goals discussion is so important.
“The industry’s come a long way in the last decade or so, especially in the area of goals and how goals fit into the advice process, because really you can’t be giving advice to a client in a segment of advice if the client doesn’t have a goal associated with that advice,” Hans said.
“Why are you providing advice there, if the client doesn’t want to do something there?
“So the goals discussion has become very important for that reason, but also because it’s actually what the client wants to do, that you, as the adviser, should be focusing on.”
On a new episode of the ifa Show, the creators of a new survey looking at the mental and emotional health of financial advisers in Australia join the show.
Philippa Hunt, director of Artemis Investments, and Steve Prendeville, founder and director of Forte Asset Management, sit down with host Neil Griffiths to discuss the new survey and what inspired them to put it together.
“What are we trying to achieve, let’s quantify the problem and hopefully build some support systems and professional referrals,” Steve said.
“Also, I think if the minimum we achieve is that people understand it and know that they’re not alone. And then hopefully if we’ve got some data we can speak out and up, back up to government and try and sort of quantify these unintended consequences of mass legislation in a short period of time.”
Philippa and Steve also talked about the role that government and regulators play in the matter and if they are providing enough support.
If you are suffering from depression, anxiety or suicidal thoughts, or you’re worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below:
- Beyond Blue: 1300 22 4636 www.beyondblue.org.au
- Lifeline: 13 11 14 www.lifeline.org.au
- Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au
The ifa Show is brought to you by Sharesight
On this week’s ifa Show podcast, David Carney – CEO of local outsourcing company Virtual Business Partners – joins host Neil Griffiths.
On this episode, David and Neil discuss the declining number of advisers in Australia, which is predicted to reach 13,000 by the end of 2023.
David shares his thoughts on the matter and what the industry can be doing to not only curb the trend, but also attract new entrants.
“We definitely have some challenges within the education sectors to promote people taking up the courses and that's obviously something that we need to look at as an industry…” he said.
“But I think the consolidation is, certainly, for the independent firms that we deal with, is actually a great opportunity.
“And we're just seeing a marketplace…where a lot of the foundation people that started businesses are reaching retirement age, et cetera. It's consolidation before the next probably phase of growth, but lots of opportunity for those that stick in the industry.”
The ifa Show is brought to you by Sharesight
Host Neil Griffiths is joined by Synchron’s new general manager – compliance, Phil Osborne.
On this episode, Phil discusses the current state of compliance and regulation in the advice industry and what needs to be done to improve it by government, the regulators and the industry.
Phil also addressed the contentious topic of education standards in the sector and what that could mean for advisers post-election.
“Let’s be smart about it. I think that there’s been a lot of knee jerk reaction,” he said.
“A lot of people that are making very well-intentioned and great ideas come forward, but they just haven’t stopped to consider what it actually will take for the practitioner to be able to implement that effectively and still actually meet their ongoing obligations to service their clients.”
The ifa Show is brought to you by Sharesight
On a special episode of the ifa Show, host Phil Tarrant is joined by MAJGEN (Ret’d) Marcus Thompson, former head of the Department of Defence’s Information Warfare Division.
Following Prime Minister Scott Morrison and the Australian Cyber Security Centre’s (ACSC) warning to Australian organisations that malicious activity may have local ramifications on the back of Russian-linked cyber attacks on Ukraine, Phil and MAJGEN (Ret’d) Thompson discuss Russia’s history of cyber war and how this vector will continue to shape peace and conflict in the future.
This episode also looks at the impact of cyber warfare on Australian businesses, including Australian financial advisers who hold valuable client data in their books.
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Neil Griffiths is joined by award-winning financial adviser and the founder and CEO of WOW Women’s Group, Tracey Sofra.
To coincide with International Women’s Day this week, Neil sat down with Tracey to discuss the state of gender equality in the Australian advice industry, how far it’s come and how much more it’s got to go.
“We're around the 15 to 20 per cent representation, which that figure's been around for quite a while, [it] hasn't changed a lot,” Tracey said.
On this episode, Tracey also expressed why financial planning should be considered both as a career and client by women.
“I think it's a magnificent profession for women, so much flexibility. It is a tune to our natural abilities as women from a compassionate point of view, from an emotional intelligence connectivity view, it allows great flexibility,” she said.
“[Women are] more comfortable with female financial advisers… women out in the community need advice and when they seek it, there's not enough of them in the industry to provide that advice.”
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Neil Griffiths chats with the Financial Planning Association (FPA) CEO Sarah Abood.
After taking over from former CEO Dante De Gori late last year, Ms Abood sat down to discuss a number of current issues in the advice sector, including compliance and regulation and heated debate about the current education requirements.
“What's missing for me in a lot of the conversation right now is probably a deeper discussion about whether the standards are fit for purpose and for the different types of practises that many advisers have,” she said.
“The anger about the current requirements that I've seen has often come from advisers who are specialising in a particular area of advice, and I can really understand the frustration of an adviser who might be practising in, say, personal risk and the fact that they're being asked to go back to uni and do tertiary level of qualifications, in some cases for many years, in areas in which they don't practice is infuriating.
“I think we should be talking more about specialisations, and I think [we] should be recognising those in the standards, and I really hope that that's taken on board.”
Listen to the full episode here.
In this exclusive podcast, shadow financial services minister and shadow assistant treasurer, Stephen Jones MP, joins Momentum Media’s editor of mortgages Annie Kane to chat through the ALP’s assessment of the financial services industry.
Mr Jones dissects the government’s treatment of advisers and outlines Labor’s plans to revamp education requirements.
Tune in to find out:
- Why fixing the advice area is the greatest unfinished business in the financial services area
- His thoughts on FASEA education changes and Labor’s pledge to experienced advisers
- The government’s proxy advice regulations and why Labor disapproves
And much more!
The ifa Show is brought to you by Sharesight
Helen Baker – financial adviser and founder of Australia-wide service On Your Own Two Feet – joins this week’s episode of the ifa Show.
Helen joined the podcast with host Neil Griffiths to discuss the vastly different advice strategies when working with retirees and Millennials and the biggest challenges and opportunities that brings for financial advisers.
On the episode, Helen also discusses challenges and opportunities for advisers themselves in 2022 and beyond particularly coming off a year that saw a high number of reforms introduced.
“There is so much opportunity. I think it’s a great role. I love, love, love what I do with clients and seeing their lives the way they are and engaging with people. And I think most advisers do, which is why we do it,” Helen said.
“But I think that 2026 is going to be another deadline. And the big problem is we are letting a lot of people go, who have an enormous amount of experience, who can be great leaders and great mentors, but the way that it sits right now, there’s not really an incentive to bring a brand new recruit on out of university and put them in your office. It’s just too expensive and it’s more time commitment.”
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, BT’s head of managed accounts Zac Leman and head of platforms Chris Mather joined host Neil Griffiths to talk about the rise of MAs.
Zac and Chris discuss how managed accounts have gone from a niche to mainstream offer for advisers over the past 20 years and why the pandemic has accelerated its importance.
“They’re becoming the go-to solution for many advisers and they can be purpose-built for boutiques as well as large advice practices,” Zac said.
Chris added: “It’s also a really good way to manage the cost of delivering advice. And there’s a consistency that all clients are getting exactly the same investment outcome without operational delay of implementation activities.
“And it means that advisers’ value propositions, in many cases, have also evolved away from being the execution and investment manager to managing the investment manager and really focusing on strategic advice.”
Listen to the full episode here.
On a new episode of the ifa Show, host Neil Griffiths is joined by Asia-Pacific chief executive of digital advice provider Ignition, Craig Keary.
On this episode, Craig discusses the importance of digital advice, how much the COVID-19 pandemic has accelerated its adoption and why it will change the future of the industry.
“The impact on this is going to be long-lasting. So I think we’ve got to be prepared. The consumers need help,” he said.
“I was out with a friend on the weekend, and people are considering, ‘Well, do we leave Sydney? Do we downsize? Do we move somewhere else? Do we adopt a slightly different lifestyle?’ All of that requires financial advice as well.
“So I just think we’re in a very fascinating time of our lives, and it’s exciting to be in here, and it’s a great opportunity for us all in the industry to make this advice more accessible.”
Listen to the full episode below.
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Neil Griffiths is joined by Challenger Limited’s Luke Cheetham.
As general manager retail distribution for the company, Luke jumped on the podcast to discuss the incoming retirement income covenant - which will require funds to have a retirement strategy in place for its members – set to come into effect on 1 July 2022.
Luke discusses the industry reaction to the covenant and what it will mean not only for retirees, but also the challenges and opportunities for financial advisers.
Listen to the full podcast below.
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Neil Griffiths is joined by The Advisers Association’s chief executive, Neil Macdonald.
Neil joined this week’s podcast to discuss two opinion pieces he wrote published on ifa in-depth, regarding why there could be a “mass exodus” of advisers if the current requirement for existing advisers with no degree to have an approved qualification by 1 January 2026 is not addressed.
“I think it will be a significant number,” Mr Macdonald said.
“You’ve got this demographic thing that adviser ages are increasing anyway. And so that’s the risk, I think. There will be people who will retire probably maybe four or five years earlier than they need to.”
Mr Macdonald discusses his opinion on the matter and what he would like to see government and regulators do before 2026.
Listen to the full episode below.
The ifa Show is brought to you by Sharesight
As more people return to work for 2022, a new episode of the ifa Show looks at what’s in store this year!
Host Maja Garaca Djurdjevic is joined by fellow presenter Neil Griffiths who recently sat down with some advisers and industry figures such as Lifespan Financial Planning chief executive Eugene Ardino and Women Talking Finance’s Karen Eley to discuss their hopes for the sector in 2022.
“We’re such a passionate profession, driven to help make our clients’ lives better but are becoming increasingly disempowered by the regulatory compliance burdens and costs,” Karen said.
“I want to see a focus on [advisers’] wellbeing and recognition of the importance of what our industry does for Australian families’ financial security.”
Listen to the full episode below.
The ifa Show is brought to you by Sharesight
Before we kick off a new year of podcasts, we’re running you through the biggest episodes of 2021!
Host Maja Garaca Djurdjevic is again joined by fellow presenter Neil Griffiths to talk about the five most-listened-to podcasts of last year.
Topics that most caught listeners’ ears in 2021 included what the financial adviser of 2025 will look like, single-adviser practices and what’s next for AMP advisers.
Tune in as Maja and Neil look at each episode and discuss why the episodes were some of the most-listened-to of the year.
Listen to the full episode below.
The ifa Show is brought to you by Sharesight
On the final episode of the ifa Show for 2021, host Maja Garaca Djurdjevic is joined by fellow presenter of the podcast, Neil Griffiths, to talk about the year that was on the ifa website.
Maja and Neil go through the top five most-read stories on the website this year, including articles that look at adviser numbers, the FASEA exam and ASIC regulations.
As well as looking at the stories, Maja and Neil also discuss any possible updates or progressions on the subjects since they were published in the year.
The ifa Show is brought to you by Sharesight
In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Alison Dellow to chat about the importance of client engagement.
With the pandemic putting a temporary pause to face-to-face meetings, advisers were forced to turn to technology to facilitate their client meetings.
In this podcast, Alison Dellow from Hewison Private Wealth talks about the power of technology and how it has altered accessibility and strengthened the adviser-client relationship.
Allison also touches on whether advisers are doing enough and what more they could be doing to enhance engagement.
The ifa Show is brought to you by Sharesight
On a very special episode of the ifa show, host Neil Griffiths is joined by Greg Cook of Eureka Whittaker Macnaught and Mia Johnson of Keyman Financial Services to talk all things FASEA.
With responsibilities to be wound up at the end of the year, this episode looks at FASEA’s work and exams through Greg, who has been in the industry for 30 years, and Mia, who is midway through her professional year.
Greg and Mia also discuss a recent opinion piece published on ifa by The Advisers Association’s Neil Macdonald, who said advisers would exit the industry in droves if the current requirement for existing advisers with no degree to have an approved qualification by 1 January 2026 is not addressed.
“I don’t know whether I’d term it as a mass walkout, but certainly the number of advisers is going to decline, while the number coming through on the Professional Year is picking up from what I can see, the number of advisers that will have to leave the industry will be much higher,” Greg said.
Mia added: “My concern at the moment is that when the time comes, 2026 rolls around, I feel as though we’re almost not going to have an industry left because everybody’s going to leave. So what I’m really passionate about at the moment is getting younger people into the industry.”
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Maja Garaca Djurdjevic is joined by the managing director of HUB24, Andrew Alcock.
Andrew joined the podcast to talk about the role platforms are expected to play in helping reduce the time and cost it takes to implement advice.
Andrew also touched on the power of technology, detailing why he believes technology is key to servicing the growing pool of Aussies needing advice.
“We can’t help Australians who need advice if we don’t embrace more technology,” Andrew said.
He also stressed the importance of collaboration between advisers, tech providers and the government to embrace the many opportunities technology creates.
“Our goals are about ultimately reducing the cost of risk. If you just don’t get reliable information, how can you manage your compliance and your risk?
“I think there’s definitely an appetite for people to embrace technology, but it has to work. And my view is that this industry is yet to collaborate to really make it work.
“Collaboration’s going to be key.”
To find out more, tune in below.
On a new episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Adele Martin, multi-award-winning certified financial planner and the founder of the Savings Squad Podcast and My Money Buddy.
Adele joined the podcast to talk about the largest handover of wealth in history and what advisers must do to engage this new, hip and technologically savvy audience of Millennials.
Adele talks about the time-poor, sandwich generation that is challenging advisers and their existing practices.
She chats about the challenges and the opportunities created by the $3.5 trillion wealth transfer, providing some practical solutions for advisers to adopt today.
“One of the big things is the online calendar. With your retirees, you might have rung them to book an appointment, but millennials will screen your calls… So online calendar bookings are a must,” Adele said.
“The other thing I would say is talk to them how they want to be spoken to. They don’t want to necessarily be on the phone to you, so can we make it text communication?”
To find out more, tune in below.
The ifa Show is brought to you by Sharesight
On a new episode of the ifa Show, host Neil Griffiths is joined by Altius Asset Management CIO Bill Bovingdon.
Bill joined the podcast to discuss why ESG is essential for risk management and how bonds are advantageous for responsible investors.
As well as discussing Altius’ Green Bond Fund, Bill explained why demand and interest are rapidly growing in the sustainable investing space and that in the next decade, it would be “impossible” for Australian investors to not be engaged.
“It’s going to be a prerequisite basically. It would be like a borrower trying to come to market without audited accounts if they didn’t have a sustainability plan,” he said.
“We’ve already seen that playing out politically, locally, where one of the big motivations for net zero by 2050 was a recognition that international investors and providers of capital were going to make us pay for not having good sustainability policies.
“I think now that’s going to happen at every level, government, corporate, and so on.”
In a new episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Charter Hall direct chief executive Steven Bennett to discuss the benefits of investing in commercial property.
Overseeing more than $8 billion of assets on behalf of self-managed super funds, Steven knows a thing or two about the cruciality of a diversified portfolio, one that taps into the benefits of commercial property in particular.
Steven gives his thoughts on industrial property and why it will remain highly desirable, as well as dispelling the common “death-of-the-office” myth.
He also explains the differences and similarities of investing in unlisted direct property versus listed property securities funds, and why advisers may want to choose an actively managed property securities fund over an index fund.
Moreover, Steven reveals the sectors Charter Hall is currently looking at for diversified portfolios.
On a new episode of the ifa Show, host Maja Garaca Djurdjevic is joined by special guest and executive director of the Association of Independently Owned Financial Professionals, Peter Johnston.
Ahead of his appearance at the ifa Future Forum, Peter joins Maja to give a sneak peek into the topics he’ll be discussing next Wednesday (17 November).
Peter talks about some of the most burning issues in advice today, including cost, compliance and the toll they are having on advisers’ mental health.
But Peter does see a light at the end of the tunnel.
Tune in to hear more and join us at the ifa Future Forum, for free, next Wednesday (17 November).
The ifa Show is brought to you by Sharesight
On a new episode of the ifa show, host Neil Griffiths is joined by special guest and head of asset manager Milford’s Australian business, Kristine Brooks.
Neil and Kristine look at the Australian markets over the last 12-18 months and what’s to come as the country emerges from the COVID-19 pandemic.
“It’s been an incredible period,” Kristine said.
“I think if you had have asked me at the start of the pandemic where we were really starting to get a lot of noise around the seriousness of this virus, I would not have anticipated the market outcome that we’ve actually seen unfold. I would have expected a lot more volatility and potentially under performance… “
Kristine said that at Milford, the team has been committed to clients’ investment performances.
“We also turn our sights to downside protection and making sure that our portfolios are positioned well, if we are to hit periods of volatility, “ she said.
“For that reason, we’ve definitely seen some strong out-performance over the period which is great.”
Milford disclaimer: Equity Trustees Limited (“Equity Trustees”) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity for the Milford Investment Funds. Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT). Milford Australia Pty Ltd ABN 65 169 262 971 (AFSL 461253) has prepared this advertisement as investment manager of the Milford Investment Funds. The Product Disclosure Statements for the Milford Investment Funds are available here. The Milford Investment Funds Target Market Determinations are available here. The Target Market Determination is a document describing who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed. Past performance is not a reliable indicator of future performance.
In a new episode of the ifa Show, host Neil Griffiths is joined by Midwinter chief commercial officer Steve Davison to discuss the accessibility of advice.
Steve gives his take on the current state of accessibility of advice, what the biggest challenges are moving forward both for the industry and consumers, and what regulators can do to improve access to advice.
“For me, as a technology provider, I would like to have my prospective clients, which is advice businesses, have more confidence to innovate around technology,” he said.
“To do this they need confidence around where the boundaries sit around scoping advice, what is in and out of scope and what level of effort is required beyond that.
“The client may want something that is very simple at the moment, but some of the regulations could be interpreted that you have to ask more questions than perhaps what the consumers are really wanting to ask or have done.”
In a new episode of the ifa Show, host Neil Griffiths is joined by Macquarie Fixed Income portfolio manager Gary Ding.
Gary joins the podcast to discuss the impacts of the COVID-19 pandemic on the Australian economy, the market outlook and why it’s unlikely we’ll ever get back to where it was pre-pandemic.
“I don’t think we’ll ever get back there,” he said.
“I can’t see how we can get back to the old normal. In fact, from an investment management point of view, we have to adapt into this new environment where asset prices are more associated with the policy trajectory from the central bank, rather than what’s happening in the real economy.”
In the episode, Gary also discusses the challenges investors faced over the last 12 to 18 months and what the biggest opportunities will be coming out of the pandemic.
In this special episode of the ifa Show, ifa editor Maja Garaca Djurdjevic is joined by co-host Neil Griffiths to look at the week’s biggest stories.
Maja and Neil discuss Australian Advisory’s latest research paper which outlined the biggest concerns of advisers moving forward, on the back of news that the total number of advisers in Australia has dropped below 19,000.
Meanwhile, earlier this week, the Financial Services Council (FSC) released a new white paper which proposes a framework that the peak body claims could reduce the cost of providing financial advice by almost 40 per cent. Maja and Neil discuss the paper and the reaction to the recommendations within the industry.
The ifa Show is brought to you by Sharesight
This week’s episode of the ifa Show is joined by Camilla Love, creator of the Future Females in Finance (F3 Project) and the managing director of eInvest.
Camilla joins host Maja Garaca Djurdjevic to discuss women in finance and where in particular there are gaps in the sector.
“… finance actually from a top level, doesn’t look too bad. I think it’s a 45 per cent male–female relationship,” Camilla said.
“But then when you go into specific pockets of finance, you look at financial planning, you look at investment management, these focused areas, there’s an absolute gap, huge gaping gap.
“In the 20 years that I’ve been in the industry, has it got better? I’m not sure.”
The ifa Show podcast is joined by 2021 ifa Excellence Awards finalist and CEO of Lifespan Financial Planning, Eugene Ardino
Eugene discusses the incredible feat with host Neil Griffiths as well as an overcompliance in the advice industry just days out from more regulation coming in relation to breach reporting, hawking and information sharing which he said will cause an “explosion” in the sector.
“I think four of them directly impact financial advisers, which is something that I don’t know that we’ve seen too many times in the past,” he said.
“Plus, there’s been other new legislations or drastic changes to legislations that have happened this year. So, this is all flying through into the back-office cost of advisers, which then gets passed onto consumers.”
As well as going for his third straight Dealer Group Executive of the Year win this year, Eugene is also up for Industry Thought Leader of the Year.
In a new episode of the ifa Show, host Neil Griffiths is joined by joint managing director of Netwealth, Matt Heine.
Matt goes through the tech company’s fifth annual AdviceTech report which proved to be a defining one for the advice industry.
“Not surprisingly this year, there’s been a real focus on the outcomes of COVID. And I think in many ways, despite the fact that we’ve been doing it for five years, over the last four years, we haven’t actually seen a lot of change in the technology adoption of advisers,” he said.
“Since COVID’s occurred, obviously, our whole lives have moved online. Everyone’s had to reinvent the way that they do business, the way that they engage with new clients, the way that they service their existing clients.
“And as a result of that, we’ve seen very meaningful changes in not only the scores, but also the intentions of the industry and from us as a tech provider.”
Matt shares his biggest takeaways from the report, what the technological adoption by advisers will mean for the future and predictions for 2022.
This week’s episode of the ifa Show features Timothy Munro, CEO and director of Change Accountants & Advisors.
Timothy joins Maja Garaca Djurdjevic to discuss the red tape and bureaucracy thrust on advisers as well as the recent ASIC levy relief announcement.
Timothy also shares his personal experience with the FASEA exam and why he thinks there is something fundamentally wrong with the industry.
Lastly, he touches on the need for the government to listen to the concerns and thoughts of mum and dad advisers, who essentially make up a bulk of the industry.
This year's R U OK? Day serves as an important reminder to open up the conversation on mental health, both in the workplace and at home, according to David Coleman, member for Banks and Assistant Minister to the Prime Minister for Mental Health and Suicide Prevention.
In this special episode, join Momentum Media director Alex Whitlock as he speaks to Mr Coleman.
Together, the pair discuss the importance of shining a spotlight on mental health issues, share why the consequences of stigmatising mental health are significant, and reveal how you can make a difference to your workplace, community, family and friends.
This week’s episode of the ifa Show features special guest and Coastal Advice Group CEO Daniel Brown.
Daniel joins host Neil Griffiths to discuss the NSW practice and his take on recent movements in the industry, including the recent news of the ASIC levy relief.
As well as giving a sneak peek into a new business, Daniel also discusses another company he owns — MBS Advisory — which aims to provide outsourcing marketing solutions for advisers.
He shares his tips on how advisers and advice groups can build their brand, social media and content to ensure clients are lining up for their services.
Tony Machin has worked in the financial services industry for over 35 years and was considering retirement before he instead opted to take the FASEA exam and passed the first time.
Tony, who works with Equilibrium Financial Services, joined this week’s episode of the ifa Show to share his story with host Sarah Kendell and what inspired him to stay.
“It was important that I left the industry on my terms,” he said.
“I was determined to do the FASEA [exam] and I was confident that I could do it once.”
In this episode, Tony also shares his thoughts on the exam process and the current landscape of the advice sector.
Pride Advice chief executive Brett Schatto joins this week’s episode of the ifa Show podcast with host Neil Griffiths on the back of the firm’s 2021 Practice of the Year award; the company’s fifth win.
Brett tells his story about working as a detective in the South Australian Police Force and the eventual move to the advice industry.
As well as sharing his passion about his work with Pride Advice, Brett discusses his view about the role of financial advisers and their ability to deal with the unexpected.
Since moving from an institutional to a non-aligned dealer group several years ago, Fitzpatricks senior financial planner Bobbe Duncombe has also made the transition from employed adviser to business owner.
In this episode of the ifa Show, Bobbe discusses with host Sarah Kendell the most important lessons she’s learned in running her own advice practice, particularly the need for soft skills as well as number-crunching to stay sane in the more challenging times.
Bobbe also unpacks how to build a compelling holistic advice offer with clients and referral partners, and the strategies she is using to make the transition to a more flexible four days a week office.
On a new episode of The ifa Show, host Neil Griffiths is joined by Prad Navaratnam – founder and managing director of paraplanning service Advice Lab.
Prad shares his story of working in the financial services industry with IOOF and eventually bringing his interests in data and numbers to another passion – sport.
Prad talks working with NRL teams like the Sydney Roosters and the West Tigers, as well as the Sri Lankan cricket team since relocating to Sri Lanka with Advice Lab.
In this episode of the ifa Show, host Sarah Kendell is joined by award-winning adviser Nathan Fradley of Lime Financial Planning. Nathan, who’s a certified ethical investment adviser, to talk about why he decided to get into ESG as a specialisation and what types of clients he finds are most interested in investing their money for good.
Nathan also discusses his work in bringing US ethical research tool Ethos to Australia and how advisers can drill down deeper into the at times superficial ratings that ethical products receive, as well as more actively screening and reporting on the ethical impact of holdings within a client’s portfolio.
One of Australia’s top advisers joins a new episode of the ifa Show.
On the back of top 10 ranking in the Barron’s top 100 advisers for 2021, Partners Wealth Group (PWG) managing director Mathew Cassidy joins the podcast to discuss the achievement and the history of the business.
Mr Cassidy also shares his tips on working with clients, building their portfolio and showing them the importance and benefits of wealth management.
For more on affordable advice strategies, be sure to check out the ifa Future Forum taking place at the Four Seasons Sydney on 8 October.
Click here to learn more about the ifa Future Forum and register your interest
Elder financial abuse has unfortunately increased since the onset of the COVID pandemic, and is set to rise in the long term in line with Australia’s ageing population.
In this episode of The ifa Show, Protecting Seniors Wealth chief executive Anne McGowan joins host Sarah Kendell to talk about the worrying trend of elder financial abuse. Anne discusses what may drive someone to commit elder abuse and the signs to watch for that a client may be being taken advantage of.
She also unpacks why advisers may be reluctant to intervene in elder abuse and the potential legal consequences for not acting to prevent potential abuse.
Just 15 per cent of Australians seek financial advice and consumer research shows that most clients do not see the value in advice delivered at the common price point of $3,000 – so, how can that be addressed? On a new episode of the ifa show, host Neil Griffiths is joined by financial adviser- turned money coach and chief executive and founder of Women Talking Finance, Karen Eley, to tackle the issue. As well as sharing a bit about her background and career transition, Karen gives her take on the issue of affordability and access to financial support and what both the sector and consumer can do in finding a solution.
For more on affordable advice strategies, be sure to check out the ifa Future Forum taking place at the Four Seasons Sydney on 8 October. Click here to learn more about the ifa Future Forum and register your interest.
The need for financial advisers to embrace technology has only been accelerated on the back of the COVID pandemic and Sharesight is one online portfolio tracking tool many are turning to.
On this episode of the ifa show, host Neil Griffiths is joined by Chris Stojcevski from Sharesight’s partnership team to discuss exactly what the tool does and why it’s proving to be incredibly popular within the sector.
As well as sharing the progress of Sharesight since its inception to today, Chris details the structural trends of financial advisers moving away from platforms to reduce costs for their clients and how his experience at June’s AI Summit drove that point home.
https://cutt.ly/sharesight
Advice affordability is a popular subject in industry conversations at the moment, with a raft of new compliance obligations coming in off the back of the royal commission and the cost of advice continuing to rise.
In this episode of the ifa Show, Asendium co-founder and chief executive Scott Miller joins host Sarah Kendell to unpack some of the issues surrounding advice affordability and how he believes they can be solved.
Scott reflects on his former career as an award-winning adviser and struggles he faced with keeping costs down and implementing the best technology in his business. He also discusses how long it’s taking many advisers to produce an SOA currently and why better collaboration between licensees, advisers and technology providers is key to improving the productivity logjam currently facing practitioners.
In this episode of the ifa Show, multi-award-winning adviser Hugh Robertson joins host Sarah Kendell to discuss his practice’s goals-based approach to advice and investment and the benefits of being part of a cooperative licensee model.
Hugh unpacks how the concept of goals-based advice has evolved over the years and what practices can do to effectively tie clients’ values to their investment strategy, keeping them on track to achieve long-term goals that are important to them.
He also looks at the process of setting up a boutique adviser cooperative that can allow practices to be more in control of their own destiny from a licensing perspective, and gives his thoughts on how the advice industry will emerge from the current challenging period.
Accessibility of advice has become a key topic of discussion in the industry as the cost of advice rises and the adviser exodus exacerbates supply issues for “mum and dad” consumers.
In this episode of the ifa Show, Midwinter head of product Ivon Gower joins host Sarah Kendell to discuss how digital advice can help educate and engage lower balance clients to get started on their advice journey.
Ivon looks at the simple ways for advisers to get started on a digital advice strategy and how practices are using digital tools to make the advice process more seamless and engaging for clients. He also unpacks how large institutions are introducing super fund members to the advice process and the learnings that independent practices can take from this.
In this episode of the ifa Show, WealthO2 managing director Shannon Bernasconi and chief distribution officer Andrew Whelan join host Sarah Kendell to discuss the latest developments in the platform space as advisers grapple with the need to automate and reduce their cost of advice.
Shannon and Andrew touch on how adviser platforms are dealing with regulatory change such as the incoming fee consent rules, and whether advisers have lost trust in some of the incumbent players. They also look at why innovation in the advice technology space has historically been slow and how advisers can capture more margin in a fee-for-service world.
In this episode of the ifa Show, Praemium head of distribution Martin Morris joins host Sarah Kendell to discuss some of the latest research the group has conducted around adviser benchmarking, and how platform selection and managed account usage are adding to practice bottom lines.
Martin Morris, who is presenting at the Adviser Innovation Summit event series in June and July, uncovers some of the key statistics around how the use of managed accounts can impact adviser admin time, and how having a detailed strategic plan in place can optimise the way practices use the investment structures.
Martin also touches on the evolution of platforms from their beginnings as an all-in-one adviser business tool to a more competitive multiplatform marketplace, and discusses some of the key business benchmarks practices should be aiming for if they want to be performing at the top of their game.
Ahead of his presentation at the Adviser Innovation Summit next month, Implemented Portfolios general manager of partnerships and distribution Phil Pilgrim joins the ifa Show to discuss the evolution of managed accounts from their initial adoption to the bigger question of how they can be optimised in adviser practices. Phil discusses why some advisers may still be sitting on the fence about using managed accounts and the challenges of using traditional managed accounts with a more bespoke client base. He also unpacks how practices can strike a better balance between automation and an individualised approach to client portfolios, and provides tips around approaching the managed account conversation with clients.
In this episode of the ifa Show, BT head of financial literacy and advocacy Bryan Ashenden joins host Sarah Kendell for a deep dive into some of the specifics announced in this year’s budget and how advisers can factor these into their planning with clients.
Bryan unpacks some of the new concessions for retiree clients, including the extension of downsizer provisions and two-year amnesty on legacy retirement products. He also details the benefits for women, part-time workers and younger investors, and what these changes mean for advisers with a federal election looming.
The transition to annual opt-in agreements is just around the corner and advice practices are having to reassess how they clearly articulate and deliver on client goals to make clear the value the client is getting from their fee each year.
In this episode of the ifa Show, host Sarah Kendell is joined by AstuteWheel managing director Hans Egger to discuss some of the concerns and challenges for advisers when transitioning their practice to focus on goals-based advice. Hans talks about what’s on practitioners’ minds as the annual opt-in start date approaches and how the best performing practices are clearly demonstrating value when it comes to the all-important annual review.
He also unpacks how advisers can look at new business models such as scaled advice delivery using technology and what software providers are most focused on in their drive to assist adviser efficiency as the industry evolves.
In this episode of the ifa Show, Wealthwise senior financial planner Dawn Thomas, who was recently appointed chair of the AFA Inspire women’s network, joins host Sarah Kendell to discuss her experience as a female leader in advice and how the industry can evolve to become more inclusive in the future.
Dawn discusses her plans for the network to give women a space to discuss their issues in the professional sphere and with clients, and how female staff and advisers in financial planning practices can often struggle to reach senior positions.
She also unpacks how advisers can better tailor their services to women clients, what policy issues need to be addressed to put women on a better financial footing and why women may be uniquely suited to a career in advice as the industry pivots to a more service-based value proposition.
Most advisers would not dispute that the industry is moving towards a service-based value proposition that is more about soft skills and client relationships than products and returns. But how do you measure client progress over time when it’s not just about numbers on a page?
In this episode of the ifa Show, host Sarah Kendell is joined by HPH Solutions managing director Rob Pyne, whose practice took home the FPA Professional Practice of the Year Award in 2020. Rob discusses how his business is turning the intangible into tangible with unique reporting that measures the progress in clients’ mental health and attitudes towards money over time, demonstrating how the adviser relationship is contributing towards their overall wellbeing.
Rob also touches on how his practice is facing into regulatory disruption in the sector and gives his predictions as to what the industry could look like in five years’ time as the transition to professionalism evolves.
Recent industry research points to the fact it’s almost impossible to profitably service clients for less than $3,000 in fees, but as the cost burden on advisers rises, there are some planners who have managed to retain a successful low-cost fee model for suburban mums and dads.
In this episode, Future Financial Services principal planner Alex McKenzie joins host Sarah Kendell to discuss how he balances compliance pressures and affordability issues for his client base in Western Sydney.
Alex unpacks how he keeps his average fees below the “magic number” of $3,000 through a balance of outsourcing, leveraging technology and strong internal admin support. He also looks at some of the challenges and opportunities for advisers in the current difficult regulatory environment and how practitioners can look to reduce the time it takes to provide advice.
Managed accounts have seen explosive growth in the advice sector over the past 12 months, as COVID-related volatility created new investment implementation challenges for advisers.
In this episode of The ifa Show, MLC director of managed accounts Jason Komadina joins host Sarah Kendell to discuss new research into how rapid portfolio implementation using managed accounts can leave a tangible impact on client outcomes.
Jason discusses how quick execution of portfolio changes is paramount as financial markets begin to move more rapidly, and the new ways that high-performing advice firms are using managed accounts as the structures evolve to become more sophisticated.
He also touches on how practices can best implement managed accounts for maximum efficiency benefits and where the managed account market is likely to head next.
With a federal election on the cards in the next 12 months, both sides of politics are showing more interest in what can be done to balance consumer outcomes with red tape reduction in the advice sector.
In this episode of The ifa Show, AIOFP executive director Peter Johnston joins host Sarah Kendell to discuss the adviser association’s campaign to make MPs sit up and take notice about the impact of regulatory change in the industry.
Peter unpacks the main points of contention for AIOFP members, including the government’s poor implementation of the FASEA standards and rapidly rising compliance costs as a result of the annual opt-in legislation. He also discusses why advisers may want to consider abandoning the traditionally pro-business Coalition at the ballot box in the coming months.
Advisers are under more pressure to add value to the client experience as part of the transition to upfront, annual fees, at the same time as clients are demanding they leverage technology to provide a more holistic wealth management experience.
In this episode of The ifa Show, Praemium chief commercial officer Mat Walker joins host Sarah Kendell to unpack some of the innovation going on in the platform space as providers develop new features that allow advisers to better engage with and service clients at all levels.
Mat unpacks some of the regulations due to come in later this year and how platforms are responding, as well as the different client demand trends between the wholesale and retail advice markets. He also discusses how platforms are striving towards the ‘holy grail’ of allowing advisers to see and manage the totality of their clients’ assets in one place.
The advice industry is experiencing a once in a generation change that has challenged many practitioners. In this episode of The ifa Show, Shadforth Financial Group founder and Global Adviser Alpha principal David Haintz joins host Sarah Kendell to discuss how advisers can refocus and adapt to develop a value proposition that’s in line with what clients really want.
David unpacks the difference between cost and value, and how advisers can zero in on the activities that create the most value for clients. He also discusses the shift that is likely to occur in the sector over the next few years as advisers focus less on products and returns and more on the meaning and purpose they create in their clients’ lives.
In a fee-for-service world where the cost of advice is rising, many practitioners have struggled with how to demonstrate the value clients are getting from their fees.
In this episode of the ifa Show, Implemented Portfolios general manager of partnerships and distribution Phil Pilgrim joins host Sarah Kendell to discuss the difference a values-based conversation can make to advisers’ service proposition and client relationships.
Phil reflects on his own experiences as an adviser and how talking to clients about their passions and hopes for the future led to more clarity about what they want to achieve and how to get there. He also touches on the need for advisers to let go of their focus on investment management and the importance of consistency in providing an outstanding client experience.
In this episode of The ifa Show, Centrepoint Alliance chief executive Angus Benbow joins host Sarah Kendell for a deep dive into the group’s half-year results and how these reflect broader trends going on in the mid-tier space.
Angus discusses the group’s decision to increase dealer fees, how Centrepoint is leveraging technology and data within its advice practices and the business challenges for mid-tier licensees in the current environment.
He also unpacks what the dealer group of the future may look like and the importance of scale in providing a sustainable offering for advisers.
Following ifa’s recent reporting on the large institutions culling single-adviser practices from their ranks, debate has been hot in the industry as to whether one-man bands can thrive in today’s advice market given the increasing compliance demands.
In this episode of The ifa Show, host Sarah Kendell is joined by Peter Mancell and Andrew Wootton from national advice group FYG Planners, and adviser Danny Maher from Fiducia Financial Advice, who ran a single-adviser business for a number of years before scaling up his practice recently.
Peter, Andrew and Danny unpack some of the myths about running an advice business solo and discuss what they think are the essential ingredients for success in a single-adviser practice. They also talk about why one-man bands may be best suited to boutique licensees and how advice groups can support their single-adviser practices to be more efficient and profitable.
Implementing good technology into a practice is becoming critical for advisers as the amount of admin time it takes to deliver a piece of advice rapidly rises.
In this episode of The ifa Show, host Sarah Kendell is joined by Phillips Wealth Partners director and senior adviser Craig Phillips, who has recently ramped up his focus on tech and automation as a priority in his specialist aged care advice business.
Craig discusses the ways he has taken his older client base on the journey to a digital-first advice world and how software has eliminated the need for paraplanning support in his practice. He also unpacks the best resources for advisers looking to implement a technology strategy in their business and what tools he uses to efficiently keep on top of his compliance and client engagement.
Ethical investing is becoming a more mainstream part of advisers’ businesses that an increasing number of practitioners are interested to know more about.
In today’s episode of The ifa Show, host Sarah Kendell is joined by Marshall Brentnall, director of Evalesco Financial Services. Marshall is a member of the investment committee within his boutique licensee, Australian Advice Network, which went on a journey to create its own sustainable investing model portfolio last year following a long due diligence process.
Marshall reflects on where the demand is coming from for ethical investing options among advice clients and what kind of products they are seeking. He also touches on where he believes the ESG sector needs to go in the next few years in order to create best of breed products that deliver the optimum outcomes for clients.
Self-licensing is set to be a key trend for 2021 as more advisers consider their options amid rising dealer group fees and the closure of a number of institutional licensees.
In today’s episode of The ifa Show, host Sarah Kendell is joined by Conaill Keniry, managing director of ifa Excellence Awards 2020 finalists Cobalt Advisers. Conaill unpacks his experience with getting his own licence for his advice firm and why he opted for the self-licensing option over a traditional dealer group after a lengthy research process.
Conaill also busts some myths around the self-licensing process and shares how removing layers of dealer group requirements led to a huge increase in productivity for his firm.
The overhaul of AMP’s advice business has dominated recent industry news, as the group’s ‘difficult but necessary’ revaluing of its BOLR terms had devastating effects on some of its former advisers.
In this episode of The ifa Show, host Sarah Kendell is joined by The Advisers Association chief executive Neil Macdonald to get the latest on how AMP’s dramatic transformation is playing out among current and former advisers. Neil discusses the progress in negotiations with advisers being exited out of AMP, how lookback audits are impacting the values planners are getting for their client books, and what the changes have meant from an emotional perspective for affected advisers.
Neil also touches on how remaining AMP advisers are being encouraged to shore up their long-term profitability in the face of further regulatory change and the impact of AMP’s transformative policies on adviser workloads.
The forthcoming annual renewals legislation is causing a lot of headaches for advisers in working out how they can provide ongoing service to clients without having to drastically raise advice fees. In this episode of The ifa Show, host Sarah Kendell speaks to Perth adviser Paul Stephan, who recently overhauled his fee structure to provide more flexibility to clients around when and how they seek advice.
Paul discusses what prompted him to separate administration from advice fees, why more advisers should consider making ongoing service arrangements a thing of the past, and why he believes episodic advice is the way of the future.
Paul also touches on how increases in regulation have affected his business, what types of clients are best suited to episodic advice and how he hopes to keep advice affordable for middle-class consumers.
With the government resuming its focus on the legislative response to the royal commission, 2021 promises to be a busy year for advisers from a regulation and compliance perspective.
In this episode of The ifa Show, host Sarah Kendell is joined by BT head of financial literacy and advocacy Bryan Ashenden to discuss adviser regulatory priorities in the new year.
Bryan touches on what’s next as FASEA’s powers are rolled into Treasury and ASIC’s Financial Services and Credit Panel, how advisers have been preparing for the removal of grandfathered revenue, and what we might see from ASIC’s consultation into affordable advice.
Bryan also dives into the debate around raising the superannuation guarantee and the challenges of providing scaled advice under the current regulatory regime.
2020 was a rocky year for practice valuations, with AMP’s landmark decision to revalue its BOLR terms having a butterfly effect through the market while thousands of advisers exited the industry. In this episode of The ifa Show, Forte Asset Solutions founder and managing director Steve Prendeville discusses how advisers have reformed their businesses in the face of the transition to annual renewals, the removal of grandfathered commissions and escalating business costs.
Steve also touches on why the transformation of the advice industry is viewed as an investment opportunity for many buyers, how COVID-19 has boosted business values and whether the adviser exodus will continue in 2021.
While enjoyable in a personal sense, the festive season is always a difficult one when it comes to getting clients to stay on track financially. In this episode of The ifa Show, Financial Advice Matters managing director Darren Smith and advice development manager Francis Rigby join host Sarah Kendell to discuss how their clients are facing a particularly challenging Christmas break this year following the volatility of the COVID-19 crisis.
Darren and Francis touch on the tips and tricks for advisers looking to save their clients’ money over Christmas and the new year, how to get clients to think before they spend, and what to address when those who do ‘overindulge’ need to pay down debt in 2021.
Joe Biden’s election as president of the United States is set to have significant implications for the ESG investing sector in 2021. In this episode of The ifa Show, Russell Investments’ James Harwood outlines what a Biden presidency will mean for markets as the COVID pandemic continues to evolve in the new year.
James also discusses how client and adviser demand for ESG investment offerings has reached a tipping point in 2020 and offers tips for advisers looking to select the right ethical funds for their clients’ needs.
Over the course of 2020, advisers have had to pivot from preparing for the regulatory response to the royal commission, to taking their businesses wholly online and holding clients’ hands through the worst economic crisis in recent memory.
In this episode of The ifa Show, Iress manager – practice development team, Kelli Willmer, discusses some of the lessons that have been learned by the advice profession this year, including that shifting to remote work isn’t as difficult as anticipated, and that demand for advice remains strong despite the challenging regulatory environment faced by practitioners. Kelli also discusses some of her predictions for the year ahead, such as the continuation of digital client engagement post-COVID, and the importance of business continuity and resilience as the pandemic continues to evolve.
The value of advice is often difficult for financial planners to articulate to clients, but new research has quantified the average amount clients could earn per year by engaging an adviser.
In this episode of the ifa Show, host Sarah Kendell is joined by Russell Investments head of wholesale partnerships Neil Rogan to discuss the fund manager's report on both the tangible and intangible aspects of value that advisers can deliver in their relationships with clients.
Neil also unpacks changing perceptions of the value of advice following the COVID crisis and how advisers can better incorporate the idea of value in their marketing and client engagement strategies going forward.
Many IFA practices struggle with obtaining the efficiency gains necessary to get sufficient scale and profitability in their business.
In this episode of The ifa Show, Iress manager - practice solutions team, Kelli Willmer, shares her top tips for advice businesses looking to scale up, whether through acquiring a new practice or client book or expanding staff numbers.
Kelli talks through some of the challenges of expanding an advice business while maintaining excellent client service and robust compliance frameworks, shares some case studies of firms who were able to leverage efficiencies through technology, and examines the issue of succession and how that plays into business growth.
In the last IFA Excellence Awards finalist showcase before this year's awards, host Sarah Kendell is joined by Capital Group managing director of financial intermediaries Jorden Brown, as well as finalists for Dealer Group of the Year, Cobalt Advisers' Conaill Keniry and Lifespan Financial Planning's Michael Gershkov.
Conaill and Michael discuss the concerns many advisers often have with the traditional dealer group model, and the importance of helping financial planners to deliver truly independent and high quality service to clients. Our panel of guests also look at how to facilitate the exchange of best practice ideas between advisers and why it's important to do comprehensive due diligence when selecting the best dealer group to work with.
For better or worse, 2020 has been an unforgettable year in global equity markets, which has forced both fund managers and advisers to look at new ways of doing things.
In this episode of the IFA Show, host Sarah Kendell is joined by Francyne Mu, portfolio manager and research analyst from Franklin Templeton's global equity team, to discuss the key investment themes that will play out in the global economy as the COVID crisis continues to evolve.
Francyne also dives into what advisers should look for when selecting or re-evaluating their clients' global equity allocations, and how clients that are typically overweight in Australian shares can benefit from a global growth strategy.
Learn more about Franklin Global Growth Fund, a concentrated, yet diversified portfolio of high-quality global growth companies.
In the first ifa Excellence Awards finalist showcase for 2020, host Sarah Kendell is joined by First Sentier Investors’ Angela Vincent as well as finalists for Investment Adviser of the Year James Weir and Chris Smith.
James and Chris discuss how they got into investment advice and the challenges involved in getting clients to “stay the course” during 2020’s market volatility. Our panel of guests also delves into the important industry trends that investment advisers should be tapping into and dish out some key advice for new starters to the sector.
Regulatory change is pushing advisers to include more flexibility and engagement in the way they service clients.
In this episode of the ifa show, Midwinter head of product Ivan Gower and head of distribution Andrew Whelan look behind the 'buzz word' of goals-based advice to discover how advisers are tying their conversations with clients more closely to their short and long-term goals and how technology can assist in this process. Ivan and Andrew also discuss how new fee models can provide different ways for advisers to engage and retain clients beyond the traditional 'all or nothing' approach.
Now more than ever, advice practices need to have a clear understanding of the ideal client experience they want to create across every aspect of their business.
In this episode of the ifa show, Iress manager – practice solutions and IFA specialist Kelli Wilmer shares the top tips she and her team employ when it comes to helping IFAs define ideal clients and generate new business leads as well as create a differentiated and seamless onboarding and ongoing service experience
The current crisis has provided a much needed boost to demand for advice, but many consumers are still wary about which practitioners they can trust and how much it will cost.
In this episode of the ifa Show, host Sarah Kendell is joined by Sunsuper head of advice and retirement Anne Fuchs, to discuss the industry fund's latest research on consumer preferences around advice and what trends it points to in terms of financial literacy and retirement confidence.
Anne discusses how Sunsuper is partnering with IFAs, as well as lower-cost services advisers can offer more budget-conscious clients and new strategies to attract a younger consumer.
After appearing at the Adviser Innovation Summit 2020, Talking Money's Melissa Meagher delves into the specifics of money coaching and how planners can offer this as a complement to their existing services on this episode of the ifa Show.
Melissa shares some of the specifics around her offering when it comes to licensing, education and pricing.
She also touches on what types of clients are best suited to money coaching services, how advisers can position a money coaching offering and why consumer behaviours around money are often difficult to shake.
In spite of pandemic-induced job and income losses, the mortgage market has been experiencing a surprising boom thanks to record low interest rates and flat property prices.
In this episode of The ifa Show, host Sarah Kendell is joined by Anthony Landahl, the managing director of Equilibria Finance, to discuss what he's been seeing in the lending market over the last few months, how advisers can help well-positioned clients to get finance ready, and what policy changes advisers need to be aware of.
Anthony explains whether incoming salary is a good marker for credit access in the current environment, how the lockdown restrictions are affecting confidence among small businesses, and what the future outlook is for opportunities in the lending market.
Some advisers are managing to turn the coronavirus crisis into an opportunity to improve their business models.
Kim Payne, managing director of 9rock Consulting, joins host Sarah Kendell in this episode of The ifa Show for a timely discussion about how advisers can create profitable new service offerings by adapting to changing industry trends.
Kim outlines the changes advisers can make to increase efficiency, how to broach the topic of putting up prices with clients, and what sorts of new business pieces advisers should be prioritising.
Manager - practice solutions team at Iress, Kelli Willmer, specialises in helping SME advice practices develop efficient and effective business processes in order to save both time and money.
In this episode of The ifa Show, Kelli joins host Sarah Kendell to deep-dive into some of the biggest challenges faced by small-to-medium sized advice practices and how COVID-19 has affected this sector of the industry.
Kelli reveals her top time-saving hacks for advisers, why focusing on compliance can increase efficiency in the longer term, and how Iress' product offering helps advisers deliver more accurate and economical advice to their clients.
According to the director of Synchron, Don Trapnell, the life insurance industry has truly stepped up to the mark since the pandemic began in order to meet the needs of both advisers and consumers in this challenging time.
Don joins host Sarah Kendell on this episode of The ifa Show to discuss the options available to life insurance clients experiencing financial hardship, the impacts of the coronavirus on life insurance sales, and the value of reducing the amount of regulation for advisers.
Don also reflects on the reasons behind the increase in advisers leaving the industry, whether the coronavirus and FASEA deadline extension have encouraged advisers to stay on longer than intended, and the key focuses for Synchron heading into the new financial year.
As the EOFY approaches, advisers are facing the new challenge of providing guidance to their clients around incorporating pandemic-triggered measures into their financial decisions.
In this episode of The ifa Show, host Sarah Kendell is joined by Michael Hutton, personal wealth management partner at HLB Mann Judd, to break down the key issues that are affecting his clients in the lead up to tax time.
Michael explains some helpful strategies for advisers to consider for different client situations, from landlords with struggling tenants, to those approaching retirement, to people with more cash than anticipated.
After appearing as a panellist on ifa's recent live webcast, Bryan Ashenden, head of financial literacy and advocacy at BT Financial, delves into the finer details of the FASEA standards with host Sarah Kendell on this episode of The ifa Show.
Bryan shares the key concerns he's hearing from advisers regarding sitting the exam remotely and which standards advisers are finding most challenging at the moment.
He also explains what constitutes "informed consent", how advisers can compliantly structure referral arrangements in line with standard 3, and what qualifications are needed in order to enter one's professional year.
On this episode of the ifa Show, host Sarah Kendell is joined by Iress' manager-practice solutions team Kelli Willmer, to discuss how adviser use of technology has rapidly evolved as the COVID-19 crisis has taken hold.
Kelli discusses some of the misconceptions advisers might have had around clients and technology prior to the crisis, and how practices have adapted to the challenge of keeping clients and employees engaged while working remotely.
Kelli also shares her insights into how advice processes might change for the better on the other side of COVID-19, and what business owners can do to support their staff in making a productive return to the workplace.
In April, Momentum Intelligence conducted a major survey to understand how the coronavirus pandemic has been affecting the nation's professional services across seven different industries.
The head of strategy at Momentum Intelligence, Michael Johnson, joins host Sarah Kendell on this episode of The ifa Show to analyse the findings of the MyBusiness COVID-19 Sentiment Survey, revealing how advisers' revenue, workload volumes, and mental health situations have been impacted.
Tune in to find out which professional services industries have been hit the hardest, the satisfaction rate among the financial advice sector towards the government's stimulus measures, and the overall sentiment when looking to a post-pandemic future.
On this episode of The ifa Show, host Sarah Kendell is joined by Australian Unity Advice's executive general manager, Matt Brown, to discuss the impact of the government's relief measures on advisers in the wake of the coronavirus crisis.
Matt shares his insight on how useful the changed SOA requirements are for advisers, whether advisers should be prepared for the FASEA exam compliance deadline to remain as it is, and how the regulatory burden on advisers can be further reduced.
Matt also delves into what can be done to keep advice affordable and accessible, where he sees the industry progressing over the next decade, and how advisers can help educate their clients in financial literacy.
With all face-to-face FASEA exam sessions replaced with online exams as a result of COVID-19 and the bill to extend the 1 January 2021 compliance deadline in limbo, many advisers are expressing concerns about passing the test in time.
On this episode of The ifa Show, host Sarah Kendell is joined by Joel Ronchi, principal consultant of myIntegrity in Practice, a training organisation that specialises in preparing advisers for the exam.
Joel outlines some of the concerns he's been hearing from advisers around sitting the exam remotely, what is driving the trend of less advisers passing over time, and how advisers can adequately prepare themselves for taking the exam in the coming months.
Faced with the challenge of engaging with a new generation of clients, head of partnerships at Advice Intelligence Fraser Jack tackled the issue head-on - by starting his very own podcast.
Fraser joins host Sarah Kendell on this episode of The ifa Show to share why he finds this such an effective tool for communicating with prospective and current clients, how he's grown his listenership, and what tips he would give to advisers looking to enter the podcasting realm.
He also addresses how this medium differs to traditional forms of marketing, why podcasts are useful for meeting regulatory compliance, and what he predicts the financial advice space will look like over the next decade.
On this episode of The ifa Show, CEO of the Financial Planning Association (FPA) Dante De Gori provides his take on navigating the current climate as a financial adviser.
Dante joins host Sarah Kendell to reveal what the FPA is doing to support advisers through this uncertain time, whether changes to rules around opt-in arrangements need to be applied, and which bodies should be addressing the issue of CPD obligations on advisers.
Tune in to hear Dante share how COVID-19 has justifiably shifted the government's priorities in regard to passing new bills, the key ways advisers can set up their practice to work remotely, and the issues that will be tackled in the FPA's future of financial advice model, launching later this year.
According to Martin Heffron, executive director of Heffron SMSF Solutions, the root cause of Australia's retirement income system's constant state of complexity and change is that it has no clearly established purpose.
On this episode of The ifa Show, Martin joins host Sarah Kendell to discuss what can be expected from the government's review into the system, the benefits of establishing a clear vision for superannuation and retirement, and the problematic nature of defining "adequate" income for retirement.
Martin also reflects on whether the review will tackle the issue of keeping the family home outside of the income testing procedure, how financial literacy levels affect the challenges faced by retirees, and what he predicts the retirement system could look like in the future.
Daniel Brammall considers the imminently legislated recommendations following the financial services royal commission as an opportunity for advisers to transition their business to true independence.
The president of the Profession of Independent Financial Advisers joins host Sarah Kendell on this episode of The ifa Show. Daniel delves into the Hayne report recommendations expected to come into force on 1 July, the challenges advisers can face in transitioning their business model to fit new legislation, and the Path to Professionalism education program that helps advisers move towards independence.
Daniel also explains the impacts of FASEA regulations on the finance industry, the demand for a uniform code of conduct via professional recognition, and whether it's possible for advisers to eliminate all conflicts in their practice.
In this episode of The ifa Show, host James Mitchell is joined by Kelli Willmer, manager of the practice solutions team at Iress, to discuss the importance of best practice guidance around technology for IFAs.
Kelli explains why businesses need support to maximise the efficiency of their implemented software systems, how Iress tailors software solutions according to individual practice requirements, and how her team fosters strong relationships with clients.
She also talks about the role of technology in increasing industry compliance, the features that advisers should be looking for in modelling tools, and why all businesses should be reviewing their software setups.
Understanding risk is a critical factor in assessing whether an asset is suitable for a client's portfolio and is a core component of Philip Ryan’s fund management philosophy.
Philip is the managing director of Trilogy Funds and joins host James Mitchell on this episode of The ifa Show to share how he got started in financial services, what differentiates his business from other players in the property-based funds sector, and why his team chooses to work on "vanilla" projects.
Philip also details the varied cross section of skills within his committee, the due diligence process that goes into each investment, and the importance of mitigating risk through diversification.
In this episode of The ifa Show, CEO of Hamilton Wealth Management, Will Hamilton, joins host James Mitchell to explore the adversities that are currently being experienced in the financial advice sector.
Will suggests how the industry can provide education around the value of financial advisers, why the domestic funds management industry needs to become more competitive, and what more can be done to provide support to advisers in these high-pressure times.
Will also advocates in favour of a hybrid robo-advisory model and the importance of lobbying politicians to make amendments to policy around education requirements.
FInClear's head of equity finance Alev Dover sits down with ifa editor James Mitchell to discuss why the launch of Australia's first HIN-based securities borrowing and lending platform.
In an environment of low rates and slower growth, investors are searching far and wide for returns and a positive yield. Ms Dover explains how wholesale investors can put their money to work by lending out their stocks while still implementing their long strategies.
Equity lending has typically been only possible at investment banks, but now Aussie investors can drive positive returns by allowing others to borrow part of their portfolio.
All of this and much more is revealed in this episode of The ifa Show.
In this episode of The ifa Show, FinClear director Tony Lynch discusses the ins and outs of setting up your own practice. From the business planning stages to finding a niche, this episode covers the fears and doubts that all new business owners must go through on the road to success.
Starting a financial services business can be a complicated and confusing process. Advisers need to make important decisions around licensing and platforms, and identify their target market in an industry facing significant challenges and disruption.
All of this and much more is revealed in this episode of The ifa Show.
In this episode of the ifa show, MLC General manager of distribution Geoff Rogers joins host James Mitchell to discuss the changes in the financial advice processes.
Geoff discusses the opportunities MLC sees for financial advice in Australia, his thoughts on how financial advisers will integrate changes on the back of the royal commission and the understanding from clients around the difference between independent vs aligned advice.
He also reveals why advisory firms should be using technology to stay connected, tips for advisers feeling overwhelmed by the changes and the tools to use when planning.
In this episode of the ifa show, NetWealth joint Managing Director Matt Heine joins host James Mitchell to talk about financial advice and the advice process. Matt talks about the friction points in the financial advice process and how to overcome them, shares his thoughts on communication channels and the way in which advisers communicate with their clients is changing. Matt also reveals the four key innovation areas that Netwealth is looking towards and how adapting to new technologies will help businesses fit into the modern financial business model.
Momentum Intelligence recently demonstrated the impact that market research has by driving real change in the mortgage broking sector, which was in danger of being ruined by the royal commission. In this episode of the ifa Show, head of Momentum Intelligence, Michael Johnson, joins host James Mitchell to reveal how the research group has partnered with ifa to conduct further research into the financial advice sector in a move that will both that will empower advisers and provide a solid foundation for promoting the true value of financial advice in Australia. Advisers will learn how they can get involved by surveying their clients today and be among the industry leaders who will receive a free market research report on their business. For more information, visit https://www.momentumintelligence.com.au/client-experience-survey or contact Michael Johnson directly on michael.johnson@momentumintelligence.com.au Register at: https://momentumintelligence.au1.qualtrics.com/jfe/form/SV_eaCEC1oZRiEImEt
In this episode of the ifa Show, Lifespan Financial Planning CEO Eugene Ardino joins host James Mitchell to analyse the financial advice sector in light of the recent royal commission findings and recommendations. Eugene will share his thoughts surrounding vertical integration, the departure of grandfathered commissions and how it will impact the bottom line of advice practices across Australia. He also addresses the issues surrounding disclosure and transparency surrounding client education. Finally, Eugene will reveal why he expects the sector to lose a number of high quality advisers, share his thoughts surrounding life insurance, and how robo-advice fits into the modern financial advice business model. www.ifa.com.au
In this episode of the ifa Show, CEO of Centrepoint Alliance, Angus Benbow, joins host James Mitchell to reflect on his entry into the financial services sector following a 10-year career in the defence industry, discussing the synergies between the two sectors and his views on a post-GFC financial services industry. Angus will discuss his prior role as CEO of Shadforth Financial Group and how it has shaped the work that he is now completing with Centrepoint Alliance. With a focus on innovation, and meeting the needs of their clients, Angus will unpack how they are focusing on becoming a more data rich business, and establishing themselves as a valued support offering to financial advice professionals. www.ifa.com.au
Now is the time to make money off drugs – at least according to the cover story for this month’s edition of the ifa magazine. Editor of ifa James Mitchell is joined by journalist Eliot Hastie to discuss medicinal marijuana and its role within Australia, and how the arrival of companies involved in its production on the stock exchange has opened up the possibility of investing in the drug as an asset class. Eliot will reveal the surprises that he came across when researching for the story, why Australian stocks within the commodity may not grow at the same rate as has been seen overseas, and how potential legalisation may impact this even further. www.ifa.com.au
In this special episode of the ifa Show, host James Mitchell is joined by the journalists from Momentum Media’s wealth and wellness titles. Tune in as they discuss the biggest stories that shaped the financial services sector through 2018 and reveal some of the features that they will be looking to bring you as we head into 2019. www.ifa.com.au
In this episode of the ifa Show, managing director of Financial Advice Matters, Darren Smith joins host James Mitchell to share his stance on financial wellness within the sector, and the adviser explains how his education program is supporting a growing number of businesses and their staff. Darren also discusses why he entered the profession and why the Financial Advice Matters program places a focus on practical financial skills. He addresses the most common concerns he is seeing among participants and shares his thoughts surrounding the evolution of the finance sector within Australia. www.ifa.com.au
In this episode of the ifa Show, CEO of Experience Wealth, Steve Crawford joins host James Mitchell and tells his story of how he went from a first job completely removed from the finance industry - working with the association for leather tanners - into being a highly regarded ambassador to the financial advice industry. He will discuss the moment where he identified a gap in the market targeting a younger demographic and their needs, and how with no client base, referral partners or experience he decided to build a business addressing that niche. Steve will share where his now strong client base has come from, how through the creation of The Advice Movement he is challenging the traditional advice model and how he is busting the myth that a different approach to the sector must be a non-compliant one. www.ifa.com.au
Recorded live at the IFA convention 2018, ifa editor James Mitchell catches up with netwealth’s Nick Mitchell, Experience Wealth’s Steve Crawford and Sufficient Fundz’ James Millard to delve into the impact that technology has had on customer service in financial advice. Find out how these advisers maintain a human connection in a world dominated by emerging technology platforms, the concept of financial wellbeing and why customer needs should always come first. www.ifa.com.au
In this episode of the IFA Show, host Katarina Taurian is joined by John Guadagnuolo, investment manager from Antares Equities, to discuss how shifts in global demographic trends can impact the profitability of various investment opportunities. John will share an insight into some of the changes taking place in the current climate, the next opportunities that he believes fund managers and investors can capitalise on, and how Antares Equities assesses the opportunities and risks of a particular investment. www.ifa.com.au
In this episode of the IFA Show host James Mitchell is joined by the chief executive of platform provider Praemium Michael Ohanessian, to discuss how their service is helping to increase client engagement, save time and reduce costs. Michael will share how their service differs from what is being offered by their competitors, why they have chosen to place their focus in the managed account sector, and how they are implementing what they have learnt from their experience in overseas markets into the technology that they offer here in Australia. Michael will unpack the role of technology in financial services, why there will always need to be a human element to the industry and discuss Praemium’s plans for growing their business both in Australia and internationally. www.ifa.com.au
NAB general manager of wealth distribution Geoff Rogers dropped by the studio to recap the 2018 ifa Business Strategy Day, where he ran a session on client centricity and practice management. Geoff also spoke to ifa about NAB’s commitment to the non-aligned advice sector, the latest in the platform space and how managed accounts can benefit advisers and their clients. He also talked about NAB’s decision to demerge its wealth management divisions and what that means for ifa readers. www.ifa.com.au
Ahead of Australia’s inaugural IFA Convention in September 2017, ifa speaks to Gillian Cardy, founder of the UK’s IFA Centre and an advocate of the global independent financial advice movement, about the experience of IFAs in the UK. We discuss a number of topics pertinent to Australian advice including vertical integration, the philosophy of independence and adviser education standards. www.ifa.com.au
Acclaimed American author and motivational speaker Rick Capozzi speaks to The ifa Show on the sidelines of the Netwealth Study Tour in New York City about how advisers can rebuild trust with consumers in the wake of the royal commission. A former executive at Wall Street firms Morgan Stanley, Wells Fargo and Merrill Lynch, Rick has lived through numerous scandals and believes a particular brand of client-centric leadership is the key to redemption. www.ifa.com.au
With the second round of hearings for the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry around the corner, The ifa Show speaks to Momentum Media’s Annie Kane about the lay of the land.
In this special edition of The ifa Show, Aleks Vickovich gives Financial Planning Association chair Neil Kendall an opportunity to respond to some of the most commonly heard member concerns around the mandatory standards regime and the FPA’s role in the new era.
Named Thought Leader of the Year at the ifa Excellence Awards 2017, Hamilton Wealth Management principal Will Hamilton is passionate about client service and the value of advice. He dropped by The ifa Show studio to chat about his firm’s value proposition and to weigh in on some of the big debates of the day such as education, independence and asset management fees.
Joe Duran arrived in the US from Zimbabwe with just $200 to his name and now sits at the helm of a registered investment advisor (RIA) firm with $21 billion in funds under advice. In this special edition of The ifa Show, the California-based United Capital CEO sits down with Aleks Vickovich at AMP’s Sydney headquarters to offer his secrets to growth for independent advice providers. www.ifa.com.au
In the aftermath of the announcement of a royal commission into banking, superannuation and financial services, Senator John ‘Wacka’ Williams speaks exclusively to The ifa Show from his Parliament House office after a seven-year campaign for the inquiry, revealing what he wants to see in the terms of reference and the impact on consumers in the city and the bush.
ifa assembles a range of communications experts and practising advisers to talk value propositions and kickstarting a content strategy. Richard Dunkerley from Zurich, Naomi Christopher from Midwinter, consultant Jenny Pearse and award-winning advisers Ben Nash and Peita Diamantidis drop by the studio to chat about how advisers can better tell their story. Brought to you by Zurich Financial Services Australia
This special episode of The ifa Show features a rapid-fire discussion live from Australia’s first IFA Convention. Featuring four very different perspectives – a technology provider, a practising adviser, a licensee/industry executive and a journalist – this roundtable centres on two twin themes that both Netwealth and ifa are passionate about: independence and innovation. Brought to you by Netwealth. www.netwealth.com.au hwww.ifa.com.au
In May 2016 ifa first reported that New York-based Focus Financial Partners was entering Australia via acquisition of Melbourne boutique MW Lomax. Armed with a war chest and a hunger for more Aussie advice M&A, the move reflected some important trends in the wealth management markets of both countries. In this special episode of The ifa Show, Focus principal Molly Bennard speaks to Aleks Vickovich live at the 17th annual Wraps, Platforms and Masterfunds Conference about the US and Australian independent advice movements and the firm’s plans Down Under. www.ifa.com.au
RegTech is the latest buzzword making waves in global financial services, and with adviser compliance burdens through the roof, this may be a positive outcome. Former AFA policy chief and RegTech entrepreneur Samantha Clarke joins The ifa Show to talk about the landscape for tech solutions to compliance problems. We also speak to Glenn Boyce of IRESS about Xplan Prime and the outlook for scaled advice. Brought to you by IRESS. www.ifa.com.au
On the sidelines of the AIOFP conference in Tokyo, Japan, M&A consultant Steve Prendeville joins The ifa Show to chat about the increasing influence of foreign buyers in Australian financial services. We discuss some major recent deals, ones on the horizon and the impact for advisers and licensees. We also speak with Malcolm Whitten of Nikko Asset Management about the strategy behind the Nikko AM Australian Share Income Fund. Disclaimer: This information in this podcast was prepared & presented by Nikko Asset Management Australia Limited ABN 34 002 542 038, AFSL 229664 (Nikko AM Australia), the responsible entity and issuer of units in the Nikko AM Nikko AM Australian Share Income Fund (NASIF) ARSN 133 980 819. Nikko AM Australia is part of the Nikko AM Group. It does not take into account a potential investor’s objectives, financial situation or needs. It is not intended to constitute personal advice, and must not be relied upon as such. Before making a decision based on this material, a potential investor should consider the Fund’s Product Disclosure Statement (PDS) and the ‘Additional Information to the PDS’ available at www.nikkoam.com.au/pds. Applications only accepted if made on a current application form. Distributions & the return of capital are not guaranteed. Past performance is not an indicator of future performance. Whilst we believe the information contained in this material to be correct as at the date of presentation, no warranty of accuracy or reliability is given and no responsibility is accepted for errors or omissions. Any references to particular securities or sectors are for illustrative purposes only & are as at the date of publication. This is not a recommendation in relation to any named securities or sectors. No warranty or guarantee is provided that the positions will remain within the portfolio of the Fund. Any economic or market forecasts are not guaranteed.
Former Labor MP Bernie Ripoll, the man behind the Rudd-Gillard government’s Future of Financial Advice reforms, joins The ifa Show to reflect on his time in politics and the debates still raging in financial services. We also speak to Laird Abernethy from Colonial First State about the company’s push into managed accounts. http://www.ifa.com.au
In his first week in the job, freshly appointed CEO of the Association of Financial Advisers and former Zurich exec Philip Kewin drops by to discuss his views on the Life Insurance Framework, mandatory professional standards, internal tensions and the road ahead for the AFA. We also chat to Vanguard's Jeff Johnson on the rise of active ETFs and recap some of the year's trending news items. http://www.ifa.com.au