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Goals-based advice

Podcast

With Fraser Jack

Episode 155, Season 2

Increasing Financial Wellbeing and Mindfulness, with David Harvie

November 30, 2020
Episode 155 David Harvie

Podcast

Duration: 1 hr 34 min

In challenging times for the advice industry, it is important that those with influence step up to the plate and encourage Australians to seek financial advice. Financial wellbeing empowerment is a growing topic of discussion in Australia, especially in the midst of a recession. The great news is, there are companies out there spreading this message. 

In this episode, we speak to David Harvie, the National Financial Wellbeing Manager at IOOF to find out what the team are working on to promote financial advice in Australia. We discuss the importance of language when addressing financial knowledge with clients, understanding client bias and tendencies, and get some fascinating insight into new industry statistics. 

This episode is all about looking at how we can start a conversation around promoting good financial advice for Australians, starting with the support of large corporations like IOOF.  We even talk about one of the lesser recognised ‘taxes in Australia - the lazy tax!

Resources:

To reach out to David Harvie, please contact him via his LinkedIn profile. Alternatively, contact the team on 1800 325 171. 

What You'll Learn From This Episode:

  • What does financial wellbeing mean?
  • Why ‘financial literacy’ may not be the right term to use with clients
  • Why the feeling of agency is so crucial to clients
  • How to handle clients who ‘self prescribe’
  • How prevalent is financial stress in Australia? 
  • How to discuss cashflow in a way that is easy for clients to understand 
  • Online tools that you can use in the advice process
  • What is the ‘lazy tax’ and why you should talk to your clients about it
  • The importance of being clear on your value proposition 
  • Are financial wellbeing programs valued in workplaces?

About Our Guest:

David Harvie is the National Financial Wellbeing Manager at IOOF, with over 20 years of experience in the industry. David came from a country upbringing and has carried those community values throughout his career, working areas such as sales, distribution and providing advice to clients at Shadforth. David is known for his passion for making quality advice accessible to more Australians. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at jacqui@adviceintelligence.com.

Thanks for tuning in!