Goals Based Advice Podcast

Goals based advice as a concept is something we are all familiar with, and most advisers can agree that this is the way we should be servicing clients. The practical implication, however, is a whole other ballgame, and often it can be difficult to know where to start. 

In this episode, we speak to Finn Dorney, a financial adviser at Shadforth Financial Group, to find out how he puts goals based advice into practice. We discuss everything from how many meetings he has with clients, how long the ideal meeting should go for, how to use technology efficiently, to what questions you should ask. 

This episode is all about breaking down the processes and frameworks that come into play when delivering true goals-based advice. We get lots of practical insights into how to structure your goals based advice, and even discuss activities advisers can use to prepare for a move towards a goals-based environment. 

To reach out to Finn Dorney, please contact him via his LinkedIn profile.

• Why the questions we ask are more important than the answers we give
• The importance of a great mentor for new advisers
• How to use technology to streamline the fact find process
• How to ensure both clients are heard when speaking with a couple
• What is the ideal length of time for an initial meeting
• The importance of getting buy-in from a client
• Why unrealistic goals are actually a good thing
• Why cashflow is so integral to goals-based financial advice
• The value of role-playing client situations for advisers new to goals-based advice
• What are the most important elements to consider when building strategies
• How to structure focused meetings with a set purpose

Finn Dorney is a financial adviser at Shadforth Financial Group, with over 15 years experience in the industry. Starting out as paraplanner fresh out of university, Finn built his way up through the ranks, adapting to changes along the way. Today, Finn is a passionate goals-based adviser, who focuses on delivering strong and practical financial advice that is tailored around client’s goals and values. He follows a discovery process and a review process that allows him to tick all the boxes required of a great goals based adviser.

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]

Thanks for tuning in!

For so many Australians, retirement is the ultimate dream. We spend years working, we put money aside into super, and do everything we can to ensure we can make it work financially. So, your client has followed your advice and is financially ready to retire. Now what?

In this episode, we speak to Peter Graham, an experienced retirement coach to talk about the realities of retirement, the danger of boredom, and how you can help your clients maximise their retirement. We discuss everything from the importance of setting goals, encouraging retirees to build and foster friendships and ensuring couples are on the same page prior to retirement. 

This episode is all about challenging the belief that once your client has retired, your work is done. Peter reiterates that retirement is a life stage that requires just as much planning and consistent goal revision as any other stage of life, and with the right tools, this is a service you can offer to your clients. 

To reach out to Peter Graham, please contact him via his website, add him on LinkedIn or via phone on 0412532782. 

• How to help your clients prepare emotionally for retirement
• Why advisers should be comfortable asking the difficult questions
• Why most people become bored and unfulfilled in retirement
• How lazy habits can define an unsatisfying retirement
• The importance of identifying individual goals for couples nearing retirement
• Why doctors struggle the most in retirement
• How retirement can result in loss of identity 
• The importance of retirees becoming engaged in communities 
• How to integrate non-financial retirement planning into the advice process

Peter Graham is the owner and retirement coach at Redefining Retirement. Starting in the industry as an adviser in 1966, Peter has seen immense change in the industry, with his experience giving him the tools to communicate effectively with clients. Today, Peter uses those skills to ensure clients have a smooth transition into retirement, focusing not on the financial side, but the emotional side. Peter is even building an online course offering to help clients get to the bottom of what they truly want in retirement. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

When building a successful and valuable financial planning practice, it is easy for advisers to get swept up in the never ending demands of running a business. This can lead to burnout, under-charging, and sacrificing personal goals. When given time to reflect and look over their business strategy, advisers can often find more time to achieve their personal goals, while bringing in more revenue at the same time. 

To find out how this is possible, in this episode we speak to Sharon McClafferty, CEO of Slipstream Coaching to talk about how their business coaches help financial advisers take control of their business and realign with their strategic goals.  We talk about the 3 pillars to create a profitable and successful advice practice. Sharon provides valuable tips around repricing, analysing value, reviewing your business plan and expanding your business. 

This episode is all about getting realigned with the business you have and the life you want to live, while also ensuring your business is being remunerated properly in line with the value clients receive. Sharon gives some great ‘pushes’ for your business that many of us have been needing to hear!

To reach out to Sharon, please contact her via her LinkedIn profile or visit the website.

• How to accurately price your services
• How to align your business goals with your personal goals
• How to continuously customise your service offering to your clients
• Why single adviser practices are often high risk
• The importance of giving yourself lead time to achieve business goals
• Why you shouldn’t take on client’s you can’t deliver maximum value to
• How to increase fees with your existing clients
• How to measure the value of repricing your services
• Why it is so important for advisers to have a business plan
• How to let go of clients you don’t enjoy servicing 

Sharon McClafferty is the CEO of Slipstream Coaching, offering tailored business coaching to over 60 financial planning and accounting practices across Australia. With a background in event and project management in Australia and London, Sharon found her passion in business coaching, launching Slipstream Coaching with Scott Charlton in 2015. Sharon is incredibly passionate about helping financial planners take their business to the next level. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

As goals based advisers, it is within our nature to identify client goals and implement strategies that will help those dreams become reality. There is also great benefit in digging deep to understand a client's fears and ambitions, taking that journey with the client by coaching them to success.

In this episode, we speak to Anthony Noud, an Aussie life coach to talk about how he coaches his clients, how to define your client’s goals and values, and how to uncover what drives their habits, beliefs and decisions. Anthony even shares some of his tricks of the trade, including a fascinating exercise you can do with your clients to uncover the values they hold closest to heart.

This episode is all about deepening your relationship with clients through introspective self-analysis exercises and emotionally intelligent questions that guide clients on a journey of self-discovery alongside you.

To reach out to Anthony, get in touch via Facebook or Instagram.

• How to uncover your client’s key values
• What understanding your client's ’best day ever’ can teach you
• Why achieving a goal is often the most unfulfilling part of the journey
• How to overcome the ‘bully mind’
• How to identify the cost of a bad habit
• How to bring coaching into the adviser-client relationship
• How to understand the behaviours that drive client habits

Anthony Noud is the director of Awakened Lifestyles, a life coaching business which works with high functioning individuals to help them realise their potential and achieve their dreams. Anthony has had an incredible journey, from struggling with addiction in his early twenties, to building himself up to a business owner who helps others on their own journey. Today, Awakened Lifestyle teaches hundreds of clients how to achieve their goals through life coaching. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

As experts in their field, financial advisers can often get carried away with strategy, unintentionally using language that prevents their clients from developing a true understanding of the advice being provided. Communication is everything in the adviser-client relationship, and it's imperative that we get it right.

In this episode, we speak to Eleece Quilliam, National Manager of Invesco Consulting in Australia to talk about what language we should be using with clients, and how to communicate in a way they understand. Eleece provides valuable information on which common words and terms we should avoid, what we should replace them with, and even how to frame your language depending on genders and generations. 

This episode is all about improving communication with your clients to ensure your clients are informed, empowered, and confident in the advice they receive. We pick up a few new terms and words that clients respond well to, as well as uncovering a few surprising words that are an instant turn-off for many!

To reach out to Eleece Quilliam, please contact her via [email protected]. 

• How to communicate more effectively with women vs men
• How do younger clients expect to be treated in comparison to their parents?
• What language you should use with millennials and gen Z 
• Are clients looking for financial freedom or financial security?
• Why you should remove the word ‘fee’ from your vocabulary
• How to demonstrate genuine transparency to your clients
• How to avoid unintentionally ‘salesy’ terms with new clients
• Do your clients want a knowledgeable adviser or an experienced adviser?
• How to ensure your clients are truly understanding strategies
• How to re-frame the insurance conversation
• Do clients actually want to be impressed by their adviser?

Eleece Quilliam is the National Manager of Invesco Consulting in Australia, a US-based group dedicated to helping advisers get new clients, keep the clients they have and grow their business. Before joining Invesco in 2016, Eleece worked across numerous roles in the wealth and financial advice industry with National Australia Bank and Westpac in areas such as practice management and training. Eleece is passionate about building adviser capabilities and bridging the gap between adviser and client communications. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

Goals based advisers are focused on one thing: Providing great goals based advice to their clients. In doing this, many businesses can find themselves neglecting one of their most valuable tools, which is online marketing. The world of social media and online marketing can seem daunting and beyond our scope, but with some careful thought and customised outreach strategies, there is no limit on potential growth

In this episode, we speak to Laura Higgins, director of Lala Social Club, an online marketing agency based in Perth to talk about the most important considerations for financial advisers when building an online marketing strategy. We discuss how to understand your goal, how to build content around your target audience, and how to choose the best avenues available to achieve this.

This episode is all about demystifying online marketing and breaking the process down into simple steps that any adviser can use as a foundation for their marketing strategy. We heard some great insights from Laura that you can act upon today!

To reach out to Laura and learn about her services, head to her website. To learn more about her Marketing Playbook online course, click here. Use the code ‘Fraserjack10’ for a discount on your purchase!

• How to create content that resonates with your audience
• How to avoid losing your audience by overcomplicating a message
• How to reframe your offerings in a way that resonates with your audience
• How to communicate your business’ focus on goals achievement 
• What you should consider before sharing content across multiple platforms 
• How to attract the right clients through online marketing 
• The importance of establishing an email marketing system
• How to beat the Facebook algorithm
• What social platforms are currently underutilised by financial advisers
• Which marketing strategies you should avoid 

Laura Higgins is the director of Lala Social Club, an online marketing consulting agency that works closely with financial planners to amplify their brand and get their message out to their ideal clients. Starting out by helping her employer promote their coffee roasting business on social media, Laura spotted a need for small business owners needing an effective strategy to promote their message online. Laura is known in financial planning for her personalised marketing strategies that target a business’ ideal client.

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]

Thanks for tuning in!

When we hear the words ‘goals based advice’, it's a natural reaction to think: Isn’t all good advice technically goals based advice? It’s not rare that advisers speak to clients about their goals: purchasing an investment property, paying less tax,having enough super available for retirement. However, many of these goals resemble financial strategies more than they do true, meaningful goals of an everyday Australian. 

In this episode, our former head of client partnerships at Advice Intelligence tackles this question, outlining what exactly makes goals based advice unique, and how you can start to transform your business into that of a truly goals-centric hub. Fraser chats about the mindset of goals-based advice, the metrics, what it takes to model goals,and how to track goals on an ongoing basis.

This episode is all about getting an in-depth understanding of what exactly goes into goals-based advice, and utilising the tools available to begin to transform your advice processes in alignment with your clients goals. This episode takes tidbits of Fraser’s knowledge and experience, combined with some of the wisdom accumulated over two years of interviewing industry leaders within the goals-based advice space!

To reach out the advice intelligence team, please make contact via https://www.adviceintelligence.com/contact.

• How to shift from a product based mindset to a goals based mindset
• How to identify your client’s goals based metrics
• How to do a ‘goals based’ audit of your website
• How to help your clients discover their goals
• How to conduct an effective goals discovery meeting
• Where to find tools to assist in the goal-discovery process
• How to identify your client’s communication code
• How to relook at risk profiling in alignment with individual goals
• Why it is important to understand your client’s unique definition of risk
• How to track goals by integrating client-facing technology
• How to find out more about Advice Intelligence’s upcoming goals based academy

Fraser Jack was the head of client partnerships at Advice Intelligence. After spending his early years as a financial adviser, Fraser now works with Advice Intelligence, providing advisers with the tools they need to deliver effective goals based advice via one intelligent and simplified digital advice platform. Fraser is passionate about the rise of goals-based advice in Australia and has honed his expertise through over 100 podcast interviews with the top players in the goals-based advice field. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]

Thanks for tuning in!

The goals-based advice movement is largely regarded as the future of advice, with more businesses embracing every year. However, as with many big changes in life, knowing where to start is often the largest hurdle to overcome. Going from a traditional advice practice to practice with new processes, priorities and expectations can be overwhelming.

In this episode, we speak to Dean Lombardo, a financial advice business coach based in Melbourne to discuss how you can transform your business from a traditional practice to that of a future-focused goals-based advice business. We discuss how to introduce goals-based advice principles into client conversations, how to move from an adviser to a coach, and how to ensure your business is ‘transferable’ when it comes to business succession planning.

This episode is all about overcoming the initial hesitations of embracing change and building confidence to run a successful and engaging advice business of the future. We get the opportunity to hear about a range of topics that will leave you inspired and ready to take the next big step in your practice. 

To reach out to Dean Lombardo, please contact him via his LinkedIn profile. 

• How to start transferring your business to a goals-based advice business
• Understanding the transferability of client relationships for future business valuations
• Why shared business values are so important in succession planning
• How to maintain a relationship with clients who are working with a new adviser
• How to understand your client’s measure of success
• What it means to measure ‘emotional data’
• How far ahead you should plan goals with clients
• How to take a long term plan and break it into short term measurable milestones
• Why new business processes should start with new clients
• How to coach your clients through the journey of self-discovery 
• How understanding your client’s personality types can impact your advice

Dean Lombardo is the owner and financial planning business coach at Effortless Engagement with 20+ years of experience in the industry. Dean works with advice businesses and institutions to help realise their purpose and build meaningful connections with their clients. Starting as a paraplanner in Melbourne, Dean has a wealth of experience managing and leading financial planning businesses. He is known for his ability to visualise the long term goals of business planning while also focussing on the small, everyday value-adds that make for a strong adviser-client relationship.

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

We have all told ourselves at some stage that ‘this will be the year I get fit’. Yet time and time again, our behaviours don’t match our goals, ultimately leading to failure to achieve. The same can be applied to advice clients, who set ambitious financial goals that consistently fall short due to poor financial behaviours. 

In this episode, we speak to Hendrik Crafford, a practice owner and adviser coach in South Africa to talk about how he identified this gap in the market, and how you can implement behavioural coaching in the advice process through verbal communication, body language, personality profiling and goal creation. Hendrik even provides a self reflective mind and body exercise for you to try while listening!

This episode is all about understanding the value that can be added when infusing a life coaching mindset with the technical knowledge that is integral to strong financial advice. Hendrik will challenge you to think outside the box and leave limiting traditions and thought processes at the door.

To reach out to Hendrik Crafford, please contact him via his website.

• How to talk to client about their responsibilities in the advice process
• How to ‘be the shepherd’ and guide your clients through their journey
• How to optimise the cash flow of a client to fund their goals
• How to manage ‘human capital’ within your business
• How to use behavioural coaching in the advice process
• How our moods influence our bodies
• How to use effective language with clients
• How to use a dream wheel when building client relationships
• Which key behavioural questions you should be asking your clients
• How onboarding any client is dangerous for new advisers
• Why you should consider utilising a life coach in your business

Hendrik Crafford is the owner of Momentum Financial Wellness Practice in South Africa, with 30 years of experience in the industry. Hendrik started his journey in the advice industry with the hopes to make a difference to people’s lives through a mixture of financial advice and behavioural coaching. Hendrik’s career has since involved a number of ventures, including coaching other financial advisers on how to integrate a more behavioral approach to their service, which has even been translated to a local university program. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page. 

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]  

Thanks for tuning in!

Financial advice is a global need. Every individual has their own goals, aspirations, and problems that need solving. As our industry moves more towards goals-based advice, it's important to remember that dreams know no language, nor boundaries. That's why this week, we are setting our sights on the inspiring advice landscape in Brazil!

In this episode, we speak to Andre Novaes, a financial planner and practice owner in Campinas, Brazil. Andre is on a mission to bring dreams based advice to one million Brazilian families. He shares with us his journey, from listening to his father talks about his advice clients as a child, to now owning a practice with over 64 staff, while simultaneously training the next generation of life-focused financial planners, and providing financial education to the masses.

This episode is all about the importance of focusing less on money and strategies, and more on families and dreams. Andre will inspire you to dream big, and re-look at the way you approach conversations with your clients. We gain some fascinating insight into how financial advice is being administered across the world, with plenty of interesting ideas you can incorporate in your advice practice! 

To reach out to Andre Novaes, please contact him via his LinkedIn profile or website.

• How to think outside of the box when it comes to client meetings
• How to scale financial education to the masses
• How bringing children to meeting multiplies the positive impact of advice
• Why you should stop thinking of ‘advice to clients’ and instead ‘planners to families’
• How to become a ‘dreams based’ adviser
• How to build a financial planning business that centres around life planning 
• Why you need to work with clarity before working with transparency
• How to hire great new financial planners by 'ignoring the technical
• When you should take money out of the conversation
• Why an entrepreneurial adviser holds more potential than a technical adviser 

Andre Novaes is the founder and CEO of LifeFP in Brazil, a hybrid financial planning life planning company. Growing up hearing his father, a financial planner, talk about his clients, Andre found himself following in his shoes. Now with over 64 staff, Andre and his business are building and training the next generation of entrepreneurial financial planners through their Planners Academy, creating a new generation of emotionally intelligent dream-awakeners. All this while educating the public through a range of Life Academy courses, with a goal to reach over 1,000,000 people. 

For more conversations with the thinkers and movers in the world of financial advice, go to Goals-Based Advice Podcast. You can also access more episodes on Apple Podcasts and Spotify. For updates, follow our Facebook page.

If you have more questions, don't forget to reach out to me on LinkedIn and to send an email at [email protected]

Thanks for tuning in!