Goals Based Advice Podcast

All advisers have been witness to the frustration clients feel when faced with yet another steep annual premium increase. Insurance affordability is an increasing issue for Australians and is of particular to concern to one group in particular: APRA. With a rise in mental health claims, a changing employment landscape and insurance providers who have struggled to adapt with the times, is the life insurance as it stands, sustainable?

In this episode, we speak to Niall McConville, General Manager of Retail Distribution at TAL and Gavin Teichner, Executive General Manager of Individual Life at TAL. We discuss how they have seen the advice landscape change over time, the issues currently facing the industry, and their predictions for the future of the life insurance space. We touch on the ramification of COVID-19, as well as discuss what we can expect to see changes to in the near future.

This episode provides great insights into the complexities both Australia and international insurance companies face. Niall and Gavin provide some great food for thought and share some great insight into what the big players can do to ensure sustainable insurance products to consumers. 

To reach out to Gavin Teichner, please contact him via his LinkedIn profile. To reach out to Niall McConville, please contact him via his LinkedIn profile.

• How coronavirus is impacting the life insurance industry
• How many losses are being made in certain insurances
• Why APRA is concerned about the financial position of life insurers
• Have product benefits been ‘too generous’ over the years?
• How mental health has contributed to an already stretched market
• What the industry should do to give consumers certainty around cost
• Why a move towards simpler insurance products may help 
• How the industry needs to adapt to the ‘gig economy’
• How insurers are supporting those impacted by financial hardship due to COVID-19
• How have new education standards affected risk adviser numbers?
• What will future insurance product development focus on?

Niall McConville is the General Manager of Retail Distribution at TAL. Gavin Teichner is the Executive General Manager of Individual Life at TAL. With a combined 40+ years experience in the life insurance industry, Niall and Gavin provide great insight into the minds of life insurers and the impact a challenged industry has on financial advisers.

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 time goes on, clients are becoming more emotionally invested in the advice they receive from their adviser. From protecting their family with wealth protection to planning a dream retirement, more individuals are looking for an advice strategy tailored to their goals and values. For many, the process of building a goals-based investment portfolio is of equal importance.   

In this episode, we speak to Santi Burridge, co-founder of Implemented Portfolios. We talk about how to tailor the portfolio building process around your client’s goals, how to use technology to personalise the process, and how to get your clients engaged with their investments. We even dive into the controversial issue of what makes a truly ‘balanced’ asset allocation!

This episode is all about looking at the investment process with fresh eyes and ensuring true goals-based advice leaks through to every part of the advice process. We hear tonnes of great, thought-provoking ideas that will lead you to reflect on your very own method towards investing.

To reach out to Santi Burridge, please contact him via his LinkedIn profile.

• How to involve the client in the portfolio building process
• How to make customisation repeatable using technology 
• How we can tackle the ‘balanced’ portfolio issue
• Why risk profiles aren't a true indicator of a client’s risk appetite
• How benchmarking sets unrealistic expectations
• Why asset allocation matters more than product
• Do inhouse products still have a place in goals-based advice?
• How customised portfolios give clients a deeper sense of ownership
• The importance of constant communication with clients
• How to measure, meaningful change in a clients life
• How to technology-enabled the investment experience around the client

Santi Burridge is the co-founder of Implemented Portfolios with 22 years of experience in the industry. Starting out as a paraplanner in Brisbane, and eventually buying into an advice business, Santi became increasingly frustrated that every client was being put into the same investments. Santi launched Implemented Portfolios as a separate business in 2010 to fix the issue.  Santi is passionate about his message and provides great information on the importance of building clients portfolios around their goals. 

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 the industry moves from a sales and distribution market to a more client-centric environment, goals based advice is increasingly central to the values of advice businesses across Australia. It is one thing to follow the philosophy, but putting the values into practice through a specialised client offering can come with challenges. Especially when it comes to the issue of portfolio management and asset allocation. 

In this episode, we speak to Jacqui from Advice Intelligence and Matthew and Jerome from Dynamic Asset Consulting. We discuss the portfolio management system you can use to demonstrate your dynamic investment approach to clients, how to integrate advice into the goals-based advice process, and how to 4ensure you meet your client’s measure of success.

This episode is all about questioning the traditional investment methodologies and looking towards a more dynamic, hands on approach to investing in line with client’s goals. With over 50+ years of cumulative experience in one room, you are sure to find some valuable insights into everything goals-based investing.

To get in contact with Jacqui and the Advice Intelligence team, head to  https://www.adviceintelligence.com/contact. To get in contact with Matthew and Jerome from Dynamic Asset, head to https://www.dynamicasset.com.au/contact-us-adviser.

• How clients measure success
• Why the ‘set and forget’ investment approach is prone to failure
• How we can do better than ‘time in the market’
• How to align different portfolios to different goals
• Why linking revenue to FUM is on the way out
• How to demonstrate your value during a downturn
• How to use technology in the goals based advice process
• How to build a forward-looking approach to investments
• How to turn the goals based philosophy into a practical methodology
• Why the portfolio theories of the 20th century are no longer enough

Matthew Walker is a goals-based Financial Planner and CEO at Dynamic Asset Consulting. Having worked as a specialist financial planner since 1991, Matthew has extensive experience operating as a financial adviser using Goals Based Advice and Investing solutions. Jerome Lander is a Goals-Based Portfolio Manager at Dynamic Asset Consulting. With a consistently strong track record of achievement in multi-asset outcomes orientated portfolio management and investment consulting, Jerome is highly experienced in portfolio construction and asset allocation. Jacqui Henderson is the CEO of goals-based advice technology platform, Advice Intelligence. Jacqui is passionate about goals based advice, human behavioural science and artificial intelligence. Jacqui has 10+ years’ experience in private wealth, with previous experience in telco and technology industries.

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!

Strict education requirements, an industry-wide test and a reducing number of financial advisers to some, may look like a recipe for disaster. To others, this is seen as an opportunity. Each year, hundreds of students across the country are graduating with relevant financial planning degrees, and open minds. They are all looking to be inspired.

In this episode, we speak to Alisdair Barr, the founder of Striver, which you may have known previously as Grad Mentor. After years of working in the financial planning industry, Alisdair saw a prime opportunity to create a link between financial planning graduates and the businesses that wanted to hire them. Through speed networking events, and a brand-spanking new online platform of candidates, Striver has helped countless candidates and businesses connect and build rewarding careers.

This episode provides great insight into what new financial planning graduates are looking for in a workplace, how the professional year is affecting industry numbers, and how you can use the new education requirements to attract and retain the best new financial planning talent. 

To learn more about Striver, please visit the Striver website or contact Alisdair via his Linkedn Profile.

• What is Striver and how can you get involved
• How to attract and retain young talent
• Why you should hire candidates who are different to you
• How to articulate your value to young job candidates
• Why the professional year is adding credibility to the industry
• Why you should hire based on personality first, qualifications second
• Why you should be clear on your business needs when hiring
• Why a diverse workforce is so powerful
• How to access a database of pre-assessed job candidates
• How students and return-to-work financial professionals can directly access employers

Alisdair Barr is the founder of Striver, a HR-Tech platform designed to help financial planning firms attract and recruit financial planning students and graduates for their businesses. With over 15 years of experience in the industry, Alisdair knows exactly what it is firms look for in candidates, and works to connect hundreds of emerging financial planning professionals with growing businesses across Australia each year.  

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!

In this episode, we speak to Angus Woods, founder of Adviser Ratings, to talk about the most interesting outcomes of the extensive and insightful report. We go into detail on what today's average adviser looks like, including age and income, what the average financial planning client looks like, how many advisers are entering vs exiting the industry, and what the adviser of the future should be doing.

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

We’ve all heard the phrase ‘it’s not about the destination, it's the journey’. What you might not know is that this claim has some real scientific backing! Often we spend so much time focusing on the end goal, that once we finally get there, we realise that true fulfilment lies in the pursuit. We see it all the time in our businesses with retirees, who spend years waiting for retirement, only to realise the challenge of getting there was the most important part.

In this episode, we speak to Dr Adam Fraser, who has spent his career studying this very phenomenon. A peak performance researcher, Dr Fraser spends his time researching the psychology of success, using that research to help businesses transform their mindsets and create a growth-centric team environment. We discuss the importance of constant reflection, being present in your work day, how to mentally ‘reset’ in challenging situations, and why the ‘happiness movement’ may be doing us more harm than good.

This episode is all about learning to ‘love the struggle’ that comes with pursuing goals, while developing our minds and the minds of our teams. Dr Adam encourages us to be more courageous, introspective and always be pushing ourselves to evolve both personally and within our business. 

To reach out to Dr Adam Fraser, please head to his website.

• How to transition through different responsibilities in your day with a clear mind
• How to calm your mind by being present in the moment
• How to mentally ‘reset’ after a challenging situation
• Why the pursuit of a goal is more fulfilling than achieving the goal
• How striving for a goal allows us to be courageous and evolve
• How to set goals with your team and identify milestones
• Why regularly reflecting on progress makes us more resilient
• How to build a more resilient and and cohesive team
• How the ‘happiness movement’ could actually be holding us back
• Why we should learn to ‘love the struggle’

Dr Adam Fraser is a peak performance researcher who helps organisations and individuals push beyond their potential. Adam started out with a bachelor of biomedical science, then moving on to a PhD focusing on the impact of lifestyle on wellbeing and happiness. Adam now spends his time in research, presenting keynotes, and running intervention programs with professionals, focusing on issues such as professional burnout and mental health. Adam has presented at many financial planning conferences and provides great insight into how advice businesses can improve culture and performance. 

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!

Focusing on priorities greatly impact productivity and effectiveness. In this episode, we chat with Andrew Horsfield about how to eliminate pointless work, delegate task effectively and foster a self-regulatory performance culture with your team.

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

Right now, it feels as though the world is in a state of flux. Chances are, yourself and your team may feel the same. Advisers and their teams all over Australia are doing their best to adapt to working from home, something many of us have wanted to try, but have never had the time to sit down and work out the details. With a national lockdown on our hands, what better time than right now?

In this episode, we speak to Danielle Cornelissen and Michael Back. Danielle is the managing director of 5 Elk, an outsourcing service for financial services professionals who want to spend more time focussing on the bigger picture. Michael is the founder of Human to Human, a financial services consultancy firm who help advisers elevate their client’s experience and build a highly successful business. We discuss how to run your business smoothly from home, diving into  topics such as technology, hardware, processes and communication. 

This episode is all about adapting to change, and turning a challenging situation into a huge opportunity for your business. Danielle and Michael give us tonnes of practical tips we can all use to make working from home an amazing time of growth for ourselves and our teams. 

To reach out to Danielle, please head to the 5 Elk website or contact via Linkedin. To reach out to Michael, please head to the Human to Human website or contact via Linkedin.

• How to make the most of the set up you have
• How to develop a solid routine and structure within your team remotely
• How to overcome the awkwardness of your first video meetings
• How to find the best apps for virtual meetings
• How to share ideas and teach concepts to your team and clients via instant video
• How to streamline the file notes process 
• How to separate personal from professional responsibilities at home
• How to integrate technology into the appointment booking process
• How to cut down on time spent on fact finds
• How to keep your clients reassured through tough times
• How working from home can bring us closer

Danielle Cornelissen is the managing director of 5 Elk, an outsourcing service for financial services professionals who want to spend more time focusing on the bigger picture of their business. Michael Back is the founder of Human to Human, a financial services consultancy firm who help advisers elevate their client’s experience and build a highly successful business. Danielle and Michael are working with financial services professionals to ensure a smooth transition into the world of remote work, offering tools and guidance to turn a challenging time into a great opportunity for your business. 

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 all know that there is huge value to be found in asking your clients for feedback. It allows you to put yourself in your clients shoes, and get a better understanding of their experience with your business. Being well aware of this, the recent Value of Advice report from Core Data was undertaken with the goal to understand consumers and their relationship with advisers. Shining a light on the positives of the industry, the survey gives financial advisers an insight into the valuable ways advice changes lives.

In this episode, we speak to Alva Devoy from Fidelity, and Jason Andriessen from CoreData. Their recent research surveyed over 2,000 Australian’s on their relationships with money, their financial behaviours, and their experience with financial advisers. With a mix of advised and non-advised respondents, the survey provided fascinating insight into the benefits of financial advice, the barriers to entry, and how clients assess the quality of their relationship with their adviser.

This episode is stacked with surprising statistics, as well as fascinating insights into the 4 types of client personas, the ‘three Cs’ of client values and insights into how you can customise your service offering to suit different types of clients. With such a huge amount of valuable information, you may want to take notes on this episode!

To read the Value of Advice Report, click here.

• How to articulate your value to clients
• How do clients asses the quality of their relationship with an adviser
• What are the four ‘client personas’
• How often Australians worry about their money
• How financial stress is affecting physical, mental and social wellbeing
• How financial advice can correlate with improved mental health
• What are the ‘3 Cs’ of client value
• What are the current barriers to advice and how can you help to remove them
• How to customise your service offering to fit your client
• What the difference between monetary benefit and ‘whole person’ benefit is

Alva Devoy is the managing director of independent asset manager Fidelity International Australia. Jason Andriessen is the managing director of CoreData, a global market research and data analytics consultancy specialising in customers and how they make purchase decisions. The combined experience, knowledge and skills from themselves and their teams has brought us the Value of Advice Survey, providing insight into the minds of consumers and their relationship with money.

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!

During a time in which the advice industry is under extreme pressure, a small group of ‘outliers’ stand out from the crowd. With adaptive spirits and entrepreneurial mindsets, these advisers are focusing on building powerful and dynamic client experiences, drawing inspiration from a wide range of non-financial industries such as e-commerce and hospitality. 

In this episode, we speak to Danielle Visser and Peita Diamantidis, two forward thinking individuals behind the ‘Entrepreneur Exchange’ initiative. Dani and Peita tell us about the workshops they put together to highlight some of the incredible attitudes and mindsets advisers are adopting in running successful advice businesses, coming out strong through both the highs and lows.

This episode explores the idea that best performers in our industry are entrepreneurs who happen to run advice practices. We look into customer value propositions, how the client’s expectation of their adviser experience is transforming, and how we can tap into the emotion of the financial advice journey. 

To register your interest in the Entrepreneur Exchange, contact your Zurich BDM or head to the Zone Education Website.

• How are the advice outliers setting themselves apart from the crowd
• How to build a great client experience
• How many touch points you should have in the client onboarding process
• How to use emotion and personalisation to build rapport 
• How to use automation to elevate your service offering
• How to identify client confusion points
• How to channel your great customer experiences into your advice practice
• How to create a community of clients who love what you do
• How to design the client journey 
• Why you should focus on transformation and not conversion

Danielle Visser has 14 years experience in financial advice, and has developed Zurich’s new Entrepreneur Exchange initiative alongside adviser and practice owner Peita Diamantidis. These two minds have come together to create the _Zone education program, a platform designed to guide you through the professional development you need as an adviser to meet the challenges of today and tomorrow.

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!