Jacqui Henderson | 21 Jun, 2018

Goals Advice Panel Discussion - opportunity to break down financial advice barriers

a.i. hosted a panel discussion on Thursday 21st June in Sydney with several of the financial planning industry’s leading advocates for technology-enabled goals based advice, to discuss how the financial advice and planning process can best evolve to become more meaningful to the next generation of clients.

"For the industry to evolve and rebuild trust with the consumer, we first must listen to what consumers want. Only then can we deconstruct the barriers that daunt the consumer in their advice journey," Henderson said.

"Our aim is to transform financial advice into a language a consumer speaks and a dynamic interactive experience they feel they co-created."

The fintech firm has recently changed its name from Adviser Intelligence to Advice Intelligence to better reflect its core philosophy - that financial wellbeing through quality advice is one of the most powerful things a person can experience.

The purpose of financial advice is to improve clients’ lives and excite them about their future. The end result of the current financial planning process often doesn't. The traditional statement of advice fails to adequately engage consumers and bring their financial plan and overall goals and aspirations to life.

“In times of public scrutiny and regulatory change, it’s important for the financial planning industry to reflect on how we can build two-way trust with consumers by delivering advice in a smarter and more appealing way,” Henderson said.

“With the guidance of a trusted adviser, people can better understand their financial position, see new possibilities and ultimately achieve their life goals – but only if the industry can work together to evolve financial advice into an experience that consumers want to pursue and feel supported in being a part of.”

The a.i. objective is to transform the advice experience and guide advisers in the transition from old world to a new world advice model. By using technology to engage with consumers, it is possible to consistently create smarter, dynamic advice that is directly tied to consumers’ individual life goals.

“By providing advisers with the best tools via an intuitive online platform, we believe a.i. can help to make financial advice a more collaborative experience that consumers feel part of,” Henderson said.

“In the words of Henry Ford, “we don’t just need a faster horse”. We need to reimagine a future for financial advice that is much more evolved and in tune with what consumers expect and demand.”

Watch the full panel discussion here:

https://adviceintelligence.wistia.com/medias/3lbct2my2b

Attendees from left: 

  • Jacqui Henderson - Advice Intelligence (Panel Chair)
  • Wade Matterson - Principal Millimans
  • Jessica Brady - Fox & Hare
  • Peita Diamantidis - Caboodle
  • Andy Marshall - IOOF
  • Ben Marshan - FPA

Learn everything you need to know about goals based advice and the new world of financial planning software.