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The Fintech Business Awards 2019 will identify the leading individuals and organisations making a contribution to the rapidly growing fintech community.

The industry continues to grow rapidly in Australia with emerging players challenging the established financial institutions.

Speaking as part of Advice Intelligence’s (a.i.) Goals Based Advice Podcast. 2017 AFA Female Excellence in Advice winner Lea Schodel said there was an opportunity for advisers to broaden their service offering to encompass money coaching. This has been successful in the US for over 20 years and could help engage more people who are not currently receiving advice.

IFA - Lea Schodel

The Hayne Royal Commission has suggested that advisers inadequately demonstrate how their advice links to their client’s goals. However, financial planners have long been talking to clients about their goals.

Could this disconnect lie with the industry’s complex advice process, lengthy paper SoA's and ‘old world’ technology? Can we honestly say that the current “customer advice experience” delights today's tech-savvy consumer?

Investor Daily

Knowing the basic principles of behavioural science can help advisers design better “advice experiences” for their clients.

How many advisers can truly say how many goals they helped their clients to achieve? Not many.

a.i.’s online goals-based advice white paper highlights the importance and benefits of providing goals-based advice. 

Nicholas Grove - Money Management

Goals-based tech can help the industry move towards a new financial advice model. Linking client goals to advice strategies.

Exactly what future can we expect from a "new world" of advice?

We see advisers evolving towards a lifestyle & financial mentor in this "new world". They rely on tech to provide numbers to tell the client story. Extending their services beyond finances by providing guidance on "lifestyle choices" and "life fulfilment".

FS Advice