Ensombl Advice Australia

Dr. Carla Harris' (LinkedIn: /drcarlaharris) professional career is nothing short of diverse. After completing her PhD in Environmental Science, she then pivoted into the Workplace Gender Equality Agency's Research & Analytics division.

More recently, she completed her MBA and spent a lot of time looking at how to reduce the superannuation gap, which is so prevalent for many Australians.

Highlights from this episode:

5:20 – What is LongevityApp and how does it work?

9:30 – What Financial Advisors can do to help close the super gap

6:15 – Why consumers won't think about their future if they have to make an immediate or lifestyle sacrifice now

14:17 - Why Advisors play a really important role in creating early engagement around super

17:36 - Is the statement 'young people don't care about super' really true?

Show Notes:

Longevity App - www.mylongevityapp.com/

XY Adviser Online Training Platform - www.xyadviser.com

General Disclaimer - www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

If you're a Financial Advisor, you probably champion a preferred investment philosophy – active or passive. Though when it comes to having the 'investment discussion' with clients, do you really understand how indices work? How often they're rebalanced? Or how to accurately measure an ETF's performance?

Enter Stuart Magrath (LinkedIn:stuart-magrath-9b6a147/). He's the Head of Channel Management for the S&P Dow Jones Indices (a business unit within S&P Global) who works with Financial Advisors, educating them on how to incorporate a strong passive investment methodology in their service model.

In this insightful episode, you'll learn:

11:54 – Stuart's professional career with S&P Dow Indices and whether he thinks there's no such thing (really) as passive investing

14:38 – The S&P ASX Methodology and where you can learn more about it

15:50 – Does passive investing trump active and what is the SPIVA report?

18:00 - What is the 'Persistence of Active Funds Report'?

26:16 – How Stuart and his team are working with Financial Advisors

27:45 –What U.S. Advisors are currently doing in the ETF space vs Australia

31:05 – Can Advisors in Australia create their own ETF? How can they do it?

48:08 – Three things that make ETFS a good vehicle for Advisors and clients

Show notes:

S&P Dow Jones Indices - https://au.spindices.com/

SPIVA® Australia Scorecard (Mid-Year 2018) - https://www.xyadviser.com/wp-content/uploads/2019/01/spiva-australia-mid-year-2018.pdf

Persistence of Australian Active Funds Report (Mid-Year 2018) - https://www.xyadviser.com/wp-content/uploads/2019/01/research-persistence-of-australian-active-funds-september-2018.pdf

A-VIX - https://au.spindices.com/theme/a-vix/

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

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S&P Dow Jones Indices LLC, S&P, Dow Jones and their respective affiliates ("S&P Dow Jones Indices") and their third party licensors makes no representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and S&P Dow Jones Indices and its third party licensors shall have no liability for any errors, omissions, or interruptions of any index or the data included therein. Past performance of an index is not an indication or guarantee of future results. Some of the information contained within this podcast or video may represent hypothetical historical performance. Any back-tested information contains inherent limitations and may not result in performance commensurate with the back-test returns shown.

Except for certain custom index calculation services, all information provided by S&P Dow Jones Indices is general in nature and not tailored to the needs of any person, entity or group of persons. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties and providing custom calculation services. It is not possible to invest directly in an index. Exposure to an asset class represented by an index may be available through investable instruments offered by third parties that are based on that index. S&P Dow Jones Indices does not sponsor, endorse, sell, promote or manage any investment fund or other investment product or vehicle that seeks to provide an investment return based on the performance of any index. S&P Dow Jones Indices LLC is not an investment or tax advisor. S&P Dow Jones Indices makes no representation regarding the advisability of investing in any such investment fund or other investment product or vehicle. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. S&P Global keeps certain activities of its various divisions and business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain divisions and business units of S&P Global may have information that is not available to other business units. S&P Global has established policies and procedures to maintain the confidentiality of certain non-public information received in connection with each analytical process. Please see the Performance Disclosure at http://www.spindices.com/regulatory-affairs-disclaimers/ for more information regarding the inherent limitations associated with back-tested and/or hypothetical performance."

After looking at the current state of the advice process, Shaun Green from Advice Revolution and Spark Partners found a huge inefficiency in the way information is transitioned from adviser to the back-office team.

As a result, he and his business partner Adrian Patty have built a solution to tackle this inefficiency. This piece of tech was never the end goal of their new business though, at least not to begin with. So how did they end up here? And where is the future of advice headed?

Highlights from this episode:

6:45 – How would you provide advice for $500?

11:28 – What's hindering the process of automating data capture?

18:40 – Whether to get rid of grandfathered commission and the impact this would have on the industry

25:16 – The Advice Revolution journey and how it all began

29:47 – What do you think advice businesses struggle with the most?

48:29 – Why can't we have a one page SOA?

Show Notes:

Advice Revolution - www.advicerevolution.com.au

Spark Partners - www.sparkpartners.com.au

Shaun Green - www.linkedin.com/in/shaungreen1/

XY Adviser Online Training Platform - www.xyadviser.com

General Disclaimer - www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

As a Financial Advisor, we're sure you have an opinion about cryptocurrency. Some advisors are for it, others steer well away from it, but how educated are you about the new asset class… really? Skye Dunworth (in/skye-dunworth/) is the computer scientist turned business management consultant turned Crypto entrepreneur who is on a mission to educate and empower (mainly) women in the cryptocurrency space with her app @Spendher. After being introduced to the world of blockchain and 'internet money' as Clayton calls it, Skye found a gap in the market which she believes can be filled through education and a way to easily trade and invest. Here's some highlights of this episode: 5:37 – Crypto as a brand new asset class 5:57 – Why pushing the hope out of Crypto is a good thing 7:37 - How Skye got started in Crypto 11:13 – What problems do you see Crypto solving in the world today? 27:05 - Trading volumes on the @Spendher app 29:45 – Why Crypto is an ever-evolving tech piece 41:15 – How Skye is helping advisors tackle the cryptocurrency conversation with clients 44:00 - Where you can find Skye and connect

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

Donal Griffin (in/donalgriffin) of Legacy Law (www.legacylaw.com.au) is a specialist lawyer and 'recovering' Financial Advisor who is in the business of fighting families. Sorting out family fights that is. With over 25 years' experience in legal affairs, Donal is proud to be known as the trusted legal advisor to families who are doing interesting things.

Donal has also put together a course for the XY online training platform which provides several practical takeaways and examples of how advisers can not only start the estate planning conversation with clients, but own it. You can check out his course here - https://www.xyadviser.com/courses/how-xy-advisers-can-get-into-estate-planning/

Here's some of what you'll learn in this episode:

1:42 – Is a binding financial agreement really binding? How does it actually work?

9:00 – What a typical work week looks like for Donal and the situations his client's get themselves into

10:11 – The ramifications of digital signatures with trust deeds and the effect this has on SMSF's

17:32 – Estate Planning – should advisors spend time in this area with clients or outsource?

19:07 - Best practices if you don't want to include Estate Planning in your service offering

20:24 – The lowdown on Testamentary Trusts - the tax benefits and other things to be aware of

40:26 – How Donal successfully partners with Financial Advisors, and the value clients receive

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

Being a Financial Advisor is not all that different to being a cop, according to Shane Black of Pearl Financial that is.

As an ex police officer, Shane uses behavioural psychology to help clients get in tune with what's actually important to them, rather than what they think should be important to them.

He's a 'Masters of Applied Finance' graduate who switched from law enforcement to Financial Advice in 2012 and has been helping his client's kick their biggest financial and lifestyle goals ever since. When he's not working with clients or spending time with his young son William, you can find him cracking plenty of (dad) jokes in the XY Facebook Group (www.facebook.com/groups/XYAdviser).

Here's the nuggets of FP gold from this episode:

5:32 – Why Shane re-branded to his business four years ago

8:23 – What Shane's work hours looked like before his son was born to now and how he's adjusted his workflows

10:21 – Virtual outsourcing and the first task Shane gave to a virtual assistant

17:15 – Where Shane find clients and his referral strategy

23:02 – What is Shane working on in his business now? Hint: the key theme is content

29:45 – What Shane does really well as an advisor, and what he wants to be really good at next

39:15 – Shane's mission, and why he enjoys working with professionals and business people

Show Notes:

Shane Black on LinkedIn - www.linkedin.com/in/financial-planner-sydney/

Pearl Financial - www.pearlfinancial.com.au

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

With marketing being the single biggest topic of discussion in the XY Community (www.facebook.com/groups/XYAdviser), we're kicking off a brand-new series within the XY Podcast focused entirely on, yep you guessed it - marketing. Tailored for Financial Advisors but applicable to all other industry professionals, these episodes are going to give you practical examples and step by step processes with a look into how the most successful advisors are nailing this space.

First cab off the rank is none other than Ben Nash (LinkedIn:/benjaminjnash/) - Founder and Adviser of Pivot Wealth (www.pivotwealth.com.au) and Co-Founder of XY Adviser. Aside from a very strong beard game, Ben has built his advice business from scratch using a strategic and unique marketing strategy. This strategy evolved from Ben's desire to never rely on anyone else to find clients, and we can confidently say he is nailing it.

This episode is a deep dive into the exact process Ben used to market his business and attract clients from day one. You'll hear about the coaches, programs and mentors Ben has leveraged in building his business, why a support network has been a vital part of his success, how he promoted his live workshops and the impact they had on his audience, Ben's total game changer when it comes to explaining his fees to prospective clients and why incremental improvements trumps trying to 'jump the great wall' every time.

Show Notes:

Get Unstuck book by Ben Nash - http://bit.ly/get-unstuck-book

Pivot Wealth - www.pivotwealth.com.au

Steve Salvia - www.blackwing.com.au

The three R's Worksheet - http://bit.ly/RRR-worksheet

Simon Bowen - www.modelsmethod.com

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

Do you think Superannuation companies are taking advantage of Australians by having them unwittingly pay away their retirement funds in super fees? Chris Brycki thinks so.

Chris Brycki (LinkedIn: /in/brycki/ ) is the Founder and CEO of Stockspot (https://www.stockspot.com.au) – an online investment robo-advice company with a mission to help more Australians access expert investment advice and portfolio management. He's also on a mission to do away with high fees, confusing jargon and lack of transparency which he believes is giving Financial Services a bad reputation.

In this episode, Chris sits down with Clayton and Ray from XY Adviser to discuss Stockspot's annual 'Fat Cat' Report, why Chris believes super companies are experiencing diseconomies of scale, why Chris started a robo-advice company and whether it can be integrated with traditional Financial Advice and why you need an 'edge' when making an investment decision. XY Adviser Online Training Platform - www.xyadviser.com

General Disclaimer - www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

As a Financial Advisor, you know you have the skills to implement strategies and help your clients achieve what they want in life, but how's your sales skills? Do you tailor your communication methods to suit individual clients and provide a great experience? How do you demonstrate your worth as an advisor and overcome any objections?

Davina Poletto (LinkedIn:/davinapoletto/) is the Customer Success Coach from SalesITV (www.salesitv.com.au) with 20 years' combined experience in funds management with a brief period as a Financial Advisor. Having always had a passion for sales and from her experience in Financial Services, Davina believes somewhere along the way sales has become a dirty word when it really doesn't have to be.

In this episode, Adrian and Davina discuss the negative impact excessive administration and compliance requirements has on delivering great advice, why advisors need a solid support system to deliver compliant advice, why sales skills are an integral part of the advice process and the outcome of selling ethically versus selling in a pushy or aggressive manner.

XY Adviser Online Training Platform - www.xyadviser.com

General Disclaimer - www.xyadviser.com/disclaimer/

This podcast is proudly supported by netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, netwealth are working with XY Advisers to innovate and drive Financial Advice forward.

One thing we know about the XY Community is they love hearing from other Financial Advisors and listening to what they've been up to, and one very interesting Advisor who is well worth hearing from is the 'grandad' of XY Adviser – Dean Holmes (LinkedIn:/mrdeanholmes/).

Dean is the Co-Founder and Wealth Advisor at Absolute Wealth Advisors (www.absolutewealthadvisors.com.au). He also supports four other innovative Financial Advice businesses under his AFSL The Wealth Network (www.wealthnetwork.net.au). When it comes to taking on new advisors under his license 'wing', Dean says choosing the right people is crucial; there must be an alignment of vision and an alignment of values between both parties because the decisions you make about people in the front end of your world ultimately affect the decisions you make within your businesses later on.

In this episode you'll learn how to find the right people to join your organisation, the benefit of incorporating a business coaching program into your organisation (and the one Dean uses), the importance of building trust with prospective clients and the different ways Dean has watched advisors in his network do this and the outcome Dean and Clayton would like to see from the Royal Commission.

XY Adviser Online Training Platform - https://www.xyadviser.com

General Disclaimer - https://www.xyadviser.com/disclaimer/

This podcast is proudly supported by Netwealth (www.netwealth.com.au), an ASX listed company ranked #1 for overall platform functionality and user satisfaction by Investment Trends for the past three years.

Netwealth understands that the Financial Advice landscape is changing and is providing market leading technology to help you explore new perspectives and realise new efficiencies. Through excellent customer service and expertise, Netwealth are working with XY Advisers to innovate and drive Financial Advice forward.