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 BT 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.