The ifa Show

On this week's episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Matthew Rady, the chief executive officer at BT Financial Group, to discuss the evolution of BT and how its BT Panorama platform stands out in a competitive space. Tune in to hear insights on the importance of embracing digital as well as having a great culture, and how BT is utilising both aspects to enable a "people-oriented business".

Listen as they discuss:

• How advisers can improve efficiency to service a greater number of clients.
• The changes within financial advice over the 10 years of BT Panorama.
• What to expect from the next decade as advisers contend with a changing landscape.

In this episode of The ifa Show, host Keith Ford is joined by Phil Anderson to discuss a range of pressing issues for the advice profession that are adding a cost burden to the provision of advice.

Anderson, who is the general manager of policy, advocacy and standards at the Financial Advice Association Australia (FAAA), explains the different mechanisms in how the CSLR and ASIC funding levies are calculated and paid, and why the upcoming RITC changes will impact advice clients.

Listen as they discuss:

• The push for greater consideration of tax deductibility for advice fees.
• Why the FAAA still wants the first DBFO bill to be passed quickly.
• The crunch of financial services legislation currently under consideration.

On this week's episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Cable Rickard, general manager of Wrap Solutions and Product Integration at Insignia Financial, to discuss the evolution of Insignia Financial, the impact of recent acquisitions, and the future of their flagship platform, Expand. Tune in to hear insights on how Insignia is navigating industry changes, enhancing client service, and leveraging technology to stay ahead in the financial advice landscape.

You'll learn:

• How significant acquisitions have shaped Insignia.
• Insights into Expand, Insignia's flagship proprietary platform, its features, and its growth since its launch in 2019.
• How Insignia is responding to market changes, including regulatory impacts.
• Rickard's vision for the future of Expand and about Insignia's ongoing commitment to enhancing their platform and services to meet advisers' evolving needs.

In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by ifa news editor Keith Ford following the first Compensation Scheme of Last Resort payments being made to discuss how the scheme is impacting the advice profession.

The pair delve into the details behind the CSLR, including how the scheme works and why advisers won't be on the hook for claims related to mortgage brokers, as well as breaking down the shadow financial services minister stepping up his criticism of the government's handling of financial advice reforms.

Listen as they discuss:

• Why financial advisers are considering a boycott of the CSLR – and why it is a risky prospect.
• The letter that advisers are sending to their local members to protest unfair treatment.
• Whether the opposition would actually offer a better alternative.

In this episode of The ifa Show, hosted by Keith Ford, Hans Egger, managing director of Astute Wheel, delves into the importance of client portals for financial advisers. The discussion centres on the benefits of using client portals to enhance data security and improve the overall client experience.

The pair discuss:

• The critical role of client portals in protecting sensitive financial information from cyber attacks, reducing risks associated with email communications.
• How client portals improve the client experience by facilitating pre-meeting information gathering and offering an intuitive, user-friendly interface.
• How a detailed audit trail of interactions and document exchanges aids in compliance and provides a clear record of all activities related to client accounts, and more.

In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Michael Pillemer, CEO of PPS Mutual, to discuss the sustainability and advantages of the mutual insurance model.

Pillemer highlights that the mutual model allows for profit sharing among members, contributing to long-term sustainability and client satisfaction. Despite industry challenges like the adviser exodus and economic crises, PPS Mutual has grown steadily, now serving nearly 12,000 members with 38,000 benefits in place.

Pillemer also highlights the advantages and success that the mutual model offers to advisers using PPS Mutual's growth and unique position within Australia's risk insurance space as proof.

Listen to hear:

• How the mutual model creates an alignment of interests and reduces conflicts between the company's goals and clients' needs.
• How the model helps advisers manage client expectations and maintain long-term relationships, and more.

In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Padua Solutions co-founder and co-CEO Matt Esler ahead of the Adviser Innovation Summit in June to discuss the power of data in financial advice.

Esler explains the pivotal role that data plays in shaping the future of financial advice, and the importance of understanding client advice data and identifying gaps in CRM and portfolio information.

The pair discuss:

• How data-driven insights have revolutionised investment strategies and platform choices.
• The opportunities and potential pitfalls of integrating AI into financial advice.
• The risks and challenges of navigating a complex data landscape.

In the latest episode of the ifa Show, host Maja Garaca Djurdjevic is joined by DASH chief executive officer Andrew Whelan ahead of the Adviser Innovation Summit in June to discuss the intergenerational transfer of wealth.

Whelan explains how the wealth transfer is leading to seismic shifts within financial advice, which is compounded by younger generations preferring digital interactions over face-to-face meetings – a trend that financial advisers must adapt to in order to remain relevant.

The pair discuss:

• The changing preferences and evolving client expectations for advice across generations.
• The critical role of digital advice in addressing the advice gap, particularly for those with simpler needs or lower investable assets.
• How advice firms can increase profitability through strategic technology adoption.

In this special budget episode, hosts Keith Ford, Maja Garaca Djurdjevic, and Aaron Dunn discuss the outlook for financial advice and SMSFs on the back of a budget that revealed little in terms of detail for either sector. They also take a look at some of the measures that were included, as well as why some high-profile topics were left out completely, such as the $3 million super tax being conspicuously absent.

Listen as they discuss:

• The need for more structural change within the taxation system to provide a meaningful impact.
• Why the headline-grabbing inflation predictions could be little more than a mirage.
• The missed opportunities to make a difference for advisers and clients.

In this episode of the ifa Show, host Keith Ford is joined by Ben Neilson, a financial adviser at Complete Wealth, to discuss streamlining the production of advice to help more clients.

Neilson breaks down the way he makes advice more efficient and why advisers should be trying to do the same, as well as explaining why taking on more clients doesn't need to come at the expense of work/life balance.

Listen as they discuss:

• The roadblocks to implementing a more streamlined approach to advice.
• Why advisers should go to their licensees with a plan to simplify their SOAs.
• How improving the advice profession can make advice more affordable for clients.