Financial advice is a fairly solitary pursuit - the burden sits heavy on our individual shoulders.

But, does it necessarily need to be so?

In this week's episode, Nathan and Jordan explore how advisers can, and are, work collaboratively to help meet our clients best interests.

From sharing ideas, discussing cases and referring to specialists within the profession, the opportunity to find the best advice for your client, has never been greater.

But how do we do it? Especially now that we are seeing so much specialisation within advice - what's the 'best' way to bring in other advisers to help your client? How do you put your own concerns, worries and, yes, even ego to the side in the interests of your client.

And what of the mechanics of actually doing it?

It's a fun episode and we can't wait to hear from listeners about how they're fostering collaboration in the world of advice.

Tim Moores Blog: https://moorefinancialadvice.com.au/why-a-well-connected-financial-adviser-matters-more-than-you-think/

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://www.loom.com/share/084388e09a744a26b1078d4571a906a0

Thanks again to the team at CPD Check for letting us publish our episodes using their AI-CPD certifying engine. Check out Clayton's episode on the pod for more info.

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

Remember QAR? The noise, the fury, the outrage? The column inches, breath and spittle diverted into 'discussing' the Quality of Advice Review?

Would it surprise you to be reminded that the final report dropped way back in February 2023 - 3 years prior to this week's episode?

And, when you look around and see what a big difference it's made (...), isn't it quite astonishing?

This week, prompted by Nathan discovering how funny the report was while researching another piece, he and Jordan discuss the QAR report in some (read: excruciating) detail.

The report's actually a really interesting insight into the operations of the financial advice profession, and well worth a read.

But absolutely stuffed if we can find the Big Lebowski reference.

Links Etc:

Quality of Advice Review - Final Report | Treasury.gov.au

Terms of Reference | Treasury.gov.au

Michelle Levy pens open letter on QAR, urges action - IFA

The Finsider with Michelle Levy

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode:

Thanks again to the team at CPD Check for letting us publish our episodes using their AI-CPD certifying engine. Check out Clayton's episode on the pod for more info.

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

We all know what bad engagement looks like. The shiftiness in the face of the truth, the big sales pitch, over-promises and, sadly, inevitable pain when the truth comes to light.

And we know what good engagement looks like - if I asked you, you could name a handful of advisers doing great work in engaging with the public.

But, what about that space in between?

How big is the gap between good and bad engagement? Why does it matter?

Why, after all, are we all in this race for attention and engagement?

This week, Nathan and Jordan explore this topic in (arguably excruciating and hypocritical) detail, discussing:

• Why advisers need to compete with the unqualified noisemakers out there
• Why it's so important that advisers own the space, instead of ceding it to product providers etc - not just for those of us in it now, but also for the future
• Why the slippery slope of chasing metrics can tempt the best of us to sliding towards the wrong end of the spectrum

And you'll also get to know a little more about the newest character in the CTS universe - Conscience Chicken.

Riding atop Theseus's Train of Trolley Carriages all the way to roost.

(It gets weird)

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26021904-04440001

Thanks again to the team at CPD Check for letting us publish our episodes using their AI-CPD certifying engine. Check out Clayton's episode on the pod for more info.

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

This week, we're joined by Stuart Riddle, of Claras.ai - one of the AI offerings in the financial advice market.

Nathan and Jordan start by asking him about the state of AI in financial advice, and expand into:

• The questions advisers should be asking about AI
• The questions licensees are asking about AI
• How AI can help advisers be more efficient, effective and balanced
• The specific workflows and implementations they've used with Claras, and the difference it's made
• How these AI products actually work

Be sure to stay tuned for Jordan to throw any semblance of integrity and calm out the window and instead become a shameless shill for Claras.ai. It feels, at times, as though you're eavesdropping on a very specific, very irrelevant product support query between a product and it's bumbling user.

Enjoy!

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26021904-04440001

Thanks again to the team at CPD Check for letting us publish our episodes using their AI-CPD certifying engine. Check out Clayton's episode on the pod for more info.

Stuart:

[email protected]

www.claras.ai

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

This week, Nathan and Jordan try to answer the question - how involved should you, as an adviser, be involved in implementing your advice?

Well, they don't try all that hard, but they have a shot at it.

Starting at fairly opposite ends of the spectrum, they try to discuss:

• Working out who's job it is to get the forms signed
• If it's not your job, who's is it?
• How involved should you still be, even if you're not the one doing the forms?
• Now that how we get paid has been (should be?) severed from whether somebody implements our recommendations, does implementation have the same weight?
• Why are printers so rubbish still?

This isn't a topic people discuss very much, but Nathan and Jordan are confident that it's an area ripe for challenging...and discussing...and questioning.

So, have at it and let us know how involved YOU are with implementing your financial advice!

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26021111-24240001

Thanks again to the team at CPD Check for letting us publish our episodes using their AI-CPD certifying engine. Check out Clayton's episode on the pod for more info.

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

Managing to keep the meandering at the start of the ep to a - wide ranging and flower-heavy - minimum, Nathan and Jordan quickly get on task today to discuss getting paid.

From choosing how to structure the timing of when you get paid for your work as a financial adviser, to the methods you offer clients, to handling that blessedly rare occasion of a client stiffing you on a bill, they try to explore all the considerations of the topic.

Because, as a professional financial adviser, you add immense amounts of value to your clients lives. But do you believe in that value enough to expect to be paid your full worth?

And what decisions, steps and systems have you put in place to make sure that happens without the biggest impediment (i.e., you. Us. Advisers.) getting in the way?

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26020906-00480001

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

As a financial adviser, you no doubt know some stuff about the Age Pension. The Income Test. The Assets Test. Thresholds, limits, reduction factors - a fair bit of stuff.

But how do you tackle some of the ethical considerations?

How do you balance client best interests with client intentions - especially when some of those intentions can be a bit dicey?

In this week's episode, we explore this fundamental part of retirement advice and try to add some new details and nuance to your approach.

And, for keen listeners, let us know your answer to the $10,000 question - where has this 'rule' come from?

Some links for you:

• History of the Age Pension in Australia
• Administration of the Age Pension | Australian National Audit Office (ANAO)
• Using the Social Security Guide | Social Security Guide

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26012910-42380001

Client Care and Practice - 0.75

Professionalism & Ethics - 0.25

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

100 episodes! 100 episodes of these two goons meandering around topics that affect, interest and bewilder financial advisers in Australia.

To celebrate this milestone, Nathan and Jordan have decided to meander around the topic of 'power' in financial advice.

Who has it, who doesn't, why they do (and don't), how they can exercise it and how we can increase it.

It is, like most of our oddly popular ones, very philosophical, very meandering and filled with outdated pop culture references (they fly together, just so you know).

Enjoy the pod and here's to an undetermined number of more episodes into the future!

Thanks for listening.

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-26012910-31480001

Client Care & Practice – 0.25

Professionalism & Ethics – 0.75

Chuffed - Aunty Donna:

https://youtu.be/o4fHlldbRHo?si=YehRABoc6fmhqQl6

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

We genuinely had a plan for this episode...and then it just ran right off the rails.

Which is a shame*.

Because ASIC have updated their regulatory guidance around Conflicts of Interest, in Regulatory Guide 181.

And it's good.

Useful. Broader than before, touching on a wider range of potential conflicts amongst a much larger ecosystem than was the case when it was last refreshed (2004, ahem).

It's one of our longest episodes, but even with our weird tangents and Simpsons quotes and more Willy Wonka recitations than you'd expect, we think it's still actually pretty helpful.

Hopefully, anyway.

*A hilarious, rollercoaster, digression-filled jaunt through our year-end tired minds, shame.

Link to the RG: RG 181 AFS licensing: Managing conflicts of interest | ASIC

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-25121808-54570001

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.

Get in touchContinuing our streak of bringing people on, then putting them in commercially awkward positions by asking silly questions, we're joined in this episode by Patrick Flynn of Simply Kaizen.

Who, despite our shenanigans, is happy to discuss:

• Why the leap from 1-2 advisers to 7+ is across such a large canyon
• Where Kaizen comes from and how it feeds into his philosophy about the business of advice
• Why the skills that make you a great financial adviser may not make you a great business owner - and why that's ok
• The red lines we get to - have to? - draw as business owners when it comes to managing around the people we work with.
• The two big things all practice should ensure are ship shape before doing anything else.

You can now get CPD points for listening to two knuckleheads (and guests!) wax lyrical about financial advice for an hour at a time.

CPD For this Episode: https://quiz.ensombl.com/NATH-25121110-19530001

Patrick:

Get in touch

The Trust Canyon (As discussed at Congress)

Another interesting blog on leadership

Nathan:

[email protected]

www.nathanfradley.com.au

Jordan:

[email protected]

www.planningsolo.com.au

LinkedIn:

Challenge the Standard in Financial Advice (Podcast): Overview | LinkedIn

The information contained in this podcast is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Jordan and Nathan are both authorised representatives of PlanningSolo Licensing, AFS Licence 526143.