Goals Based Advice Podcast

While we all understand the need for one-on-one, personalised financial advice, there is something to be said for one-to-many broad financial education. In today’s technology-driven landscape, it’s easier than ever to get your message out to the masses. More and more Aussies are tuning into podcasts to get their daily news, entertainment, and educational content.  With this movement comes a new generation of advisers exploiting this gap in the market.

In this episode, we speak to one of the forerunners of this movement, Glen James. A former financial adviser, Glen is the creator and host of the My Millennial Money podcast, who spends his days sharing much needed financial information to thousands of millennials across the country. With a 10,000+ member strong Facebook community, Glen has generated hundreds of referrals to financial advisers, mortgage brokers and other industry specialists, ensuring young Australians are getting the financial help they desperately need. We get a sneak peek into some of Glen’s upcoming ventures, including a new podcast completely unrelated to money! 

This episode will inspire you to take your idea to the next level, turning your knowledge and passions into a message strong enough to reach thousands. This episode will also show you the power of building a community, and how a small idea can become a national movement. Glen gives us some great advice on how to develop your idea, quit procrastinating, and get started.

To reach out to Glen James, please contact him via email. To learn more about how to launch your podcast, check out Glen’s Podcasting Webinar. 

• How to know when to dive into a new venture 
• How to work in financial education without competing with financial advice
• How to build an engaged online community
• How to think outside of the box when it comes to money coaching
• Why podcasting is the new medium
• How to turn your idea into a podcast
• How to start out as an indie podcaster
• How to compete with the biggest podcasters in the game
• How to generate revenue from your podcast 
• Why it is important to always be looking for the next gap in the market 

Glen James is the creator and host of the My Millennial Money Podcast, the number one personal finance podcast for young Australians. Glen is also a former financial adviser and business owner with over 15 years experience in advice. In 2017, Glen took a dive into the world of podcasting, spotting a huge gap in the financial education market.  After a period of time managing the financial planning business and podcast simultaneously, Glen eventually packed up shop and made podcasting his full-time job. Now, Glen and his suite of money and career-related podcasts educate thousands of millennials all over the country every day. 

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 advisers have an incredible wealth of knowledge to impart on existing and prospective clients, but often aren’t equipped with the tools to do this on a large scale. Hosting an event to share your message is something many advisers would like to do, but the prospect of event planning can be incredibly overwhelming. The truth is, it doesn’t have to be.

In this episode, we speak to Jessica Abbey, owner of Australian based event production company Leverage Management Solutions. We discuss in detail the process of planning your event, including how to identify your audience, how to determine what it is your audience is looking for, how to find the right venue and how to plan for any potential hiccups on the day. Jess also provides valuable information on how to develop a ‘call to action’ to ensure a strong return on investment.  

This episode is all about nailing the perfect event, whether it be an intimate client dinner or a large 2 day conference. They say failing to plan is planning to fail, and with Jess’ wisdom, you can ensure that you have ticked every box to create a successful event!

To reach out to Jessica Abbey, please contact her via her Linkedin Profile. Or check out her website Leveraged Management Solutions

• How to cut through the online noise and stand out from your competitors by getting physically in front of your audience
• How to build brand credibility, affinity and trust with valuable prospects and your current clientele
• How to determine the right type of event for your message
• How to choose the perfect venue for your event
• What to look for when selecting paid vs free venues
• How to advertise your event to your target market 
• How to understand your audience through guest surveys
• The pitfalls to prepare for when planning your event
• Choosing the right ‘event swag’ for your guests
• How to ensure your guests don’t feel like they’re simply being sold to
• The importance of having contingency plans
• How to plan your event’s ‘call to action’
• How to ensure your guests leave your event with value
• How to ensure your guests return for future events
• The importance of considering the attendee experience from start to finish

Jessica Abbey is the owner of Australian based event production company Leverage Management Solutions, with over 10 years of experience in event planning and business development. Over the years, Jess has helped many advisers put on great events for clients, prospects, and staff. She is known for her ability to maintain a level head in the most chaotic of situations, and can help you do the same!

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!

Cash-flow is one of those topics that is considered a no-brainer in business but it is still surprising how many businesses don’t take it seriously enough, and it’s a global issue.

The challenges are more than just profitability, it’s overlaying the timing of money in and money out, and mastering the art to provide clarity and certainty for the business decisions you need to continually make.

For goals-based advisers talking to our clients about their cash-flow, it’s the basis for the same conversation.

In this episode, we discuss the need for business owners globally to embrace the cash-flow and forecasting meeting as a habit, that will allow better more logical decision making, based on real data.

We also cover how Tracey Bissett shares her message of financial fitness to young people (and those who love them) as well as entrepreneurs and business owners, through a regular podcast, education courses, and coaching.

To reach out to Tracey Bissett, please contact her via her Linkedin Profile or via her website https://www.bissettfinancialfitness.com/

To listen to more of Tracey in action, listen to The Young Money Podcast at https://www.bissettfinancialfitness.com/category/podcast/

• How to improve confidence for small business owners dealing with banks
• How financial fitness is like physical fitness, it takes time, effort and regular attention
• About Tracey’s Young Money 12 Month Planner
• Why advisers should do their own podcasts
• About the great work, the SheEO organisation is doing around the world
• Why cash-flow is the fuel of growth in any business
• How business owners should behave when asking their creditors to pay their invoices
• Why responsibility can’t be outsourced
• Why your early money beliefs around scarcity or abundance influence your behaviours and money decisions 
• How we can take back control of our income and spending habits

Tracey is an accomplished professional with 20 years of experience in the financial services industry working directly or indirectly with personal, commercial and corporate clients to help them achieve their financial goals. A demonstrated passion for increasing financial fitness coupled with lending and risk management experience led to the establishment of Bissett Financial Fitness Inc.

As President and Chief Financial Fitness Trainer, Tracey works with clients to help them understand and improve their level of financial fitness with a goal of increased confidence using their financial skills so they can be successful in their financial life. She works with people of all ages, focusing on youth and young adults, as well as engages with companies and not-for-profit entities in various capacities including one on one coaching and contracts focused on financial services and risk management assignments. In addition, she teaches and leads speaking engagements to increase financial fitness awareness.

Financial fitness also known as financial literacy means having the knowledge, skills and confidence to make responsible financial decisions. Just like physical fitness, your level of financial fitness may be starting to learn the basics about money, novice to expert budgeter or becoming a more sophisticated investor. Everyone’s financial fitness level is individual and unique. Just like your health, being financially fit enables you to be successful in your life. I consider financial fitness to be fundamental life skill and am passionate about helping people improve their level of “fitness”.

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 a rapidly changing financial planning landscape, the value of community is more apparent than ever before. Finding new and inventive ways to collaborate in order to grow your business could be what keeps you ahead of the curve. Thankfully, there is a community of 1,800+ Australian advisers doing just that.

In this episode, we speak to Clayton Daniel, managing director of XY Adviser to get an inside look into what launched their national community of advisers, the journey to get where they are today, and what’s involved in the platform reaching their ‘ultimate destination’. We get a sneak peek into how technical advancement will revolutionise the platform for advisers not only in Australia, but worldwide. 

This episode will inspire you to think outside the box when it comes to pushing forward the evolution of advice, using creative and collaborative efforts to better yourself and the community.  Clayton gives us a few golden nuggets of advice, encouraging advisers to be more open and vulnerable with each other. 

QUOTE: The facilitation of a mindset is super different on every platform

To reach out to Clayton Daniel, please contact him via LinkedIn or Email.

• How to turn your idea into a business 
• How to use Facebook Groups to your advantage
• How to use small networking events for maximum impact
• How to find the perfect platform for your message
• How to moderate your online communities
• The importance of being open and honest with peers
• The power of asking intelligent questions
• Why you shouldn’t be afraid to dream big
• When is it the right time to seek outside investment for your idea
• How to know when to employ people to work in your community

Clayton Daniel is the managing director of XY Adviser with over 10 years of experience in the industry. Clayton spotted a gap in the industry during the time of FOFA, noting the need for better communication between advisers during the transitional period. From the early days of securing Brad Fox to speak at his not yet existent event, the XY Adviser community is now some 1,800 people strong, and has plans to expand to advisers all over the world.

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!

Marketing is often seen as the silver bullet that will bring unlimited clients and business growth to a financial planning practice. If done right, marketing can definitely be a powerful tool; However financial planning practices, especially smaller ones need to tailor their marketing so it reflects their personality, values and their client base. 

In this episode, we speak to Tim Reid, Australia’s leading marketing speaker to talk about everything marketing. Tim emphasises on the importance of adding personality and emotion to your marketing strategy rather than trying to be too serious or too clinical. Having worked with an extensive amount of small businesses, he believes that a small business’s ability to act quickly, pivot and implement new marketing ideas regularly is key to long term success and growth.

You will get useful tips on how a financial planning practice can engage with their client base and communicate with a helpful approach. You will learn about the power of the right question as well as how to create content and repurpose it. 

To reach out to Tim Reid, please contact him via his Linkedin Profile or via his website timreid.com.au. 

To listen to more of Tim in action, listen to The Small Business Big Marketing Show at smallbusinessbigmarketing.com

• How to own a niche market through an editorial mission
• The correlation between education and entertainment
• How to represent yourself or your practice in your marketing
• Why creating a podcast is valuable for you
• The difference between push and pull marketing
• How to ensure your practice is on Google’s page #1
• Why you should avoid bright shining marketing objects
• Why you should be using Youtube, podcast and blogs
• How to record a quick video for your client base
• The importance of creating ongoing content and how to repurpose it
• How a knowledge centre on your website can make you look like a hero

Tim Reid is an industry expert and is the host of the award-winning marketing show ‘Small business big marketing’, with 492 interviews of small business owners over 11 years. He also speaks regularly at conferences and facilitates high-end marketing workshops. Tim has also written a book, The Boomerang Effect, which provides captivating insights into the world of podcasting. Tim prides himself on helping small businesses create irresistible, smart and results-focused marketing strategies. 

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 advisers tend to focus a lot on getting compliance and their back-office operation right while neglecting the one thing that will make their business grow; Attracting new clients! The concept of magnetism is very relevant for financial advisers as attracting the right clients is key while also repelling tyre-kickers. 

In this episode, we speak to Steve Salvia, a business growth coach based in Perth to talk about the 6 pillars to create a profitable and successful advice practice.  We discuss how to significantly improve a practice’s business model, client attraction, conversion rate, advice delivery, quality of referrals and marketing. Steve also provides valuable information on how to ‘get hired’ by your prospective clients and then develop mutual commitment with them.

This episode is all about overcoming limiting beliefs and position yourselves as financial advisers with confidence, trust and likeability and grow your practice around specific well-designed frameworks. We tap into Steve’s ‘emotional piggy bank’ and did pick up a few gold coins! 

To reach out to Steve Salvia, please contact him via his LinkedIn profile.

• The 6 pillars of a successful practice

• How to Differentiate between conversion & attraction

• How to structure your client conversation

• When building the right process; ‘If it’s worth repeating, it’s worth templating’

• How to find your ideal niche

• How to create a corporate profile tool

• Why overcoming limiting beliefs, is so important

• Why it's essential to have a mutual commitment between the client and adviser

• How to talk about fees with confidence with your clients

• Teaching your clients how to refer effectively

• How to get ‘endorsed’ not just referred by your referral partner

Steve Salvia is the owner and business growth coach at Blackwing Profit Consulting with 23 years of experience in the industry. He had a very unconventional entry into financial advising, being a qualified plumber, but has grown from strength to strength to establish an award-winning accounting and financial planning practice in Perth. Steve is known for his ability to take complex business strategies and turn them into easily understood models ready for application. 

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

Clients often have complex problems that demand solutions. Unfortunately, many financial advisers fail to understand the needs of their customers. Typically, they dish out generic solutions that don't account for the complexities of the scenario at hand. To survive in this increasingly competitive industry, financial professionals will have to step up their game.

In this episode, we brought Justine Hendry, an adviser with Quill Group  Gold Coast, to talk about goals-based advice for people catering to specific niches. We discuss the importance of a multi-disciplinary approach to problem-solving. She also gives information on cultivating professional relationships as well as goal setting for women professionals. 

If you want to help your clients in untangling financial complexity, then this episode is for you. Listen to this episode now to know how to foster better working relationships with your clients.

To reach out to Justine Hendry and try out her personally tailored services, reach out to her through her LinkedIn profile.

• How Justine’s early experiences in finance led her to transition across many business fields
• How to sell insurance while minimizing your stress
• Bundling insurance with other financial products
• Leveraging experiences as a working mother into the ability to understand different perspectives
• Balancing your interests
• The importance of mediators in managing relationships
• Attracting "unapproachable" clients
• Why it's essential to understand the perspectives of your clients
• Empowering your clients through trust
• Why future trends dictate that developing your mindsets is as important as having technical skills
• And so much more!

Justine Hendry is an advisor based in Gold Coast who specializes in niche markets. With her fellow planners, she wrote plans for one of Australia's first paraplanning businesses. Nowadays, she helps her clients navigate complex legal, structural, and financial situations for the benefit of all stakeholders.

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!

Getting to know your customers is of utmost importance in financial planning. It goes beyond offering policies with reasonable premiums. It is essential to be cutting edge with your competitors and, at the same time, addressing the real needs and desires of your clients. 

In today’s episode, we talk about life planning and how it is different from the traditional way of offering financial plans. We are joined by Devan King, who gives his valuable insights on life planning and its advantages. 

If you want to know more about financial planning and position your offer such that clients will significantly benefit from it, tune in to this podcast! 

Devan King is a senior financial planner for Sentinel Wealth. He has been a financial adviser for over ten years. Also a cash flow strategist and financial coach, he helps people define their life vision, understand their beliefs and motivations and facilitate a better relationship with money. 

• Financial advisers should be offering more value than what clients typically receive. 
• They should know their clients well, and it should go beyond offering an insurance policy. 
• Financial planning should always start with your client’s goals. 
• Life planning should be incorporated to get deeper into what customers want. 

• Life planning is connecting the dots between your financial means and the life that you want to live. 
• Instead of planning things in your life, it’s more about designing your life, and then working out how you can achieve that with your current financial situation.

• First, start with a visioning meeting. Take people to a detailed exercise of determining their money beliefs. Their money beliefs significantly affect their actions, their financial means and how they plan things. After you have identified their money beliefs and biases, use the ones that are potentially helpful and address the ones that are limiting or sabotaging.
• Second, ensure that a deep motivator anchors their goals. Identify the things that motivate your clients, things which they need to achieve to feel fulfilled and happy.
• Third, write a life vision. Write a life vision for your clients based on the data that you have gathered from your initial sessions. 

• It targets clients who work long hours and earn a lot but do not feel fulfilled in their life.
• In this process, Daven’s team creates different scenarios and lets the clients choose what is ideal for them.
• After this, they base their financial planning on that scenario. 

• It lasts for 2 hours. 
• Most of the clients already have goals. 
• The purpose of the vision is to link their goals to the vision. 
• It is a collaboration between Daven’s team and the client to determine the specific goals and milestones they need. 
• The process is personalized. 
• It is essential to record the meeting (sound file) in order not to miss certain things. 

• It is generally an hour and a half. 
• It is followed by a plan presentation, which also lasts for an hour and a half. 
• Typically, there are three to five meetings for complicated clients.
• The process is personalized.

• They conduct a feasibility meeting.
• They do it before the visioning meeting. 
• During the canvas conversation, they write down all the problems that their clients need to solve and discuss how they can potentially help them in solving their problems. 
• Afterwards, they get the buy-in of the fees and discuss everything.

• It is critical that you feel you can work with your client well. 
• You must be able to add value to them. If Daven’s team feels that the client is not a good fit, they most likely won’t work with the potential client. In that case, they will advise and refer them to planners who are better suited to that person’s profile. 

• They have a pricing tool and employ a fee-based commission. 
• They do not have a flat fee. Instead, they have a calculator that helps them compute based on the person’s portfolio and profile. 

• Since they have a good reputation, they have a secure flow of clients contacting them.
• Also, existing members bring in a new client. 
• They also get many referrals. 

• For customers, financial planning is personal. 
• It would be best if you had a good rapport with the person you are dealing with 
• The qualification and reputation of your financial adviser should be stellar. 

• Have fee-based advice. 
• Focus on value. It is difficult to charge a fee if you cannot prove the value that you can offer. 

To know more about life planning, check out Sentinel Wealth’s website. You may also connect with Devan on LinkedIn.

Listen to more conversations with pioneers of the new world of financial advice at Goals-Based Advice Podcast. You can also listen to the show on Apple Podcasts and Spotify. Follow our Facebook page for updates. 

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 financial planners and advisers, we face stress and challenges in the industry every day. So what can we do as a community to step up and encourage each other?

In today's episode, we're joined by Jay Fergusson, a Brisbane-based financial adviser who has decided to put her values front and centre of her work environment. She shares her past experiences and how these drive her to help her clients. We will also discuss the LinkedIn community that she's recently started and the hashtag challenge that she has come up with.

Check out the highlights of this episode, and without further ado, sit back and tune in to the show!

Jay Fergusson is a financial adviser at Wealth Connexion in Kangaroo Point, Brisbane. It is a predominantly pre-retiree and retiree-based advice firm. For over 11 years, she has provided service to a diverse range of Australians by assisting them in navigating the complexities of finance.

• Jay started as a retention consultant during the global financial crisis.
• Being an adviser, for her, all started with the feeling of powerlessness as a retention consultant to advise people who fall victim to bad investment advice.
• Being an adviser enabled her to help people achieve their goals directly.

• First, discover their goals and what they want to achieve.
• The role of an adviser is to make complicated financial matters simple for clients.
• The client's fear and worry about opportunities play a big part in achieving their goals.

• When you've been an adviser for a while, you come to understand what you do and do not want from the role.
• Make a decision based on your values.
• If your values are not aligned with your practice, you're not going to stay there.
• Make a list of your values and goals. For Jay, she went and found the right position rather than waiting for it to come to her.
• It would be best if you found somewhere where you feel you can stay and not somewhere you think is going to be audited the next day.

• When you read different newsletters or news on LinkedIn, there are a lot of negative commentaries between planners and advisers.
• Seeing the brighter side of things amidst the negativity will enable advisers to view the opportunities at the moment.
• As a community, we need to come together and help support each other.
• Before you respond to a post, be mindful and try to put yourself in their shoes.

• Jay created a LinkedIn group called Financial Advisers Australia and created the hashtag to encourage people to share positive messages and experiences.
• All you need to do is post a piece of good news or a story about how you have positively affected a client's life.
• It can be through a blurb, a video, graphic design—in whatever medium you'd like.
• The story can also be about a friend or colleague of yours.

• Someone with whom you can talk and feel comfortable. Because at the end of the day, an advice relationship is something that you would like to have long-term.

• Make sure that you have everything organised.
• Listen to your instincts.

Check out the Financial Advisers Australia LinkedIn group. You may also connect with Jay on LinkedIn.

Listen to more conversations with pioneers of the new world of Financial Advice at Goals-Based Advice Podcast. You can also listen to the show on Apple Podcasts and Spotify. Follow our Facebook page for updates. 

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!

Many people tend to assume that building wealth for the future means having to sacrifice their happiness now. Fortunately, with the right advice it is possible to strike a balance between future goals and current lifestyle.

In today's episode, we have former lawyer turned Bounce Financial's founder, Ben Brett. He’s here to share how he and his wife built their advice business and how you can advise your clients to build theirs while living the lifestyle they want. He shares everything from the meetings they hold to the progress reports they send to their clients. Finally, Ben gives his thoughts on the right mindset for financial advisers and people who receive financial advice.

If you want to hear about a focused and well-run advice business, then don't miss this episode. 

Ben Brett is a corporate lawyer and financial adviser who owns and operates Bounce Financial alongside his wife, Cara. Their business provides sound financial planning to achieve future financial goals while balancing the present life their clients want to live. His passion is to simplify the seemingly complicated world of personal finance to help young families attain the lifestyle they desire and live both for today and tomorrow.

• Ben’s business started as a blog and took a year to gain traction.
• Expect to start from scratch and have a hard time at first.
• "Your first client in any business is your hardest."
• When starting, target the people you have already spoken to or met before.
• Extend your network in any way.

• Action beats waiting or just reading. Get out there and talk to people.
• Speak to your target market and understand what they want.
• Find areas where you can cut costs at the start. If you can, make a logo or establish your brand on your own.
• Limit initial spending as you may have to change or adjust to your customers in the future.
• Always listen to what your clients want and suit your business to them.

• The first meeting is 90% listening and 10% talking. 
• Try to understand your client by asking personal questions such as "How was money growing up?"
• Young adults are a good market as they want to do everything, such as having kids and buying a house, in a short window.

• Use software to be detailed in modelling year-on-year income and expenses. 
• Different variables will have unexpected differences. 
• Seemingly small differences could lead to a markedly different lifestyle. 
• Know your life number, which is the "cost of your life over a year."

• “Do you spend more or less against your peers?”
• Social media has drastically changed our perception, as we compare ourselves to almost everyone instead of just our immediate neighbours.
• Tell your clients not to spend beyond their means. Many people spend more than they expect they're spending
• Use different accounts to separate bills, savings and "fun spending" money accounts.

• Everything flows through cash flow. Insurance, retirement, and investments can eat into your current lifestyle.
• Outsource your financial planning, so you have fewer things to worry about.
• Having constant advice is best, so you can adjust your plans at the moment
• Track your expenses.

• Find someone who resonates with you and speaks your language.
• A financial adviser can be technically excellent and amazing at planning but if they’re not right for you, it won’t work out.
• Ask a lot of questions.
• Getting Financial advice should be a long term relationship to have a noticeable impact on your life

• Stick to the fundamentals, don't get caught in the noise.
• More people are now reaching out for financial advice, so make the most of it.
• Focus on delivering your services in a better way.

• The Barefoot Investor by Scott Pape

Check out Bounce Financial's website and Instagram. You can also connect with Ben on LinkedIn.

Listen to more conversations with pioneers of the new world of Financial Advice at Goals-based advice Podcast. You can also listen to the show on Apple Podcasts and Spotify. Follow our Facebook page for updates. 

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!