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Jacqui Henderson | 27 Sep, 2018

Goals-based tech can help kick off a new advice movement

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

Jacqui Henderson | 24 Aug, 2018

Using tech to drive client goals

The financial planning industry is in a state of transformation following the Banking Royal Commission and reviews by ASIC.

Fees-for-no-service and regulatory negligence will be rightly replaced by goals-based, client-centric advice, and technology will work as a driver. 

Tech has already infiltrated the industry, evidenced by large Australian planning firms and fund managers integrating their services with platforms and apps, and simplifying claims processes through online applications.

Anastasia Santoreneos - Money Management

Jacqui Henderson | 29 Jun, 2018

Statements of Advice : Out with the old

Compliance requirements for financial advisers are on the rise and practices clinging to ancient technology will need to use their imagination and embrace change in order to keep up.

Discussing the value of technology at a recent Advice Intelligence roundtable, Financial Planning Association of Australia head of policy and government relations Ben Marshan said the advice industry's inexplicable obsession with hardcopy Statements of Advice is a hindrance in more ways than one.

Jamie Williamson - Financial Standard

Jacqui Henderson | 26 Jun, 2018

FPA predicts self-licensing tsunami

During a discussion about goals-based advice at a recent Advice Intelligence roundtable, FPA head of policy and government relations Ben Marshan said:

"The value of a financial adviser is helping the client define and achieve goals, helping them to trade-off between different goals and keeping them accountable for them. It's not the Statement of Advice or the products; it's the mentoring and the relationship. That's what I think is missing from a lot of advice," he said.

Jamie Williamson - Financial Standard

Jacqui Henderson | 22 Jun, 2018

We’re thinking about SoAs all wrong

The FPA’s head of policy believes advisers are looking at the Statement of Advice (SoA) the wrong way, and they need to rethink the way they approach them.

Speaking on a panel hosted by Advice Intelligence at the Hotel CBD on Thursday, Ben Marshan said one of the complaints he hears a lot from members is that no other profession has to do an SoA.

Tahn Sharpe - Professional Planner

Jacqui Henderson | 21 Jun, 2018

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

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

"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.

Media Contact

Financial Media Services (FMS):

Bruce Madden
natalie@financialmedia.com.au