The ifa Show

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by My Money Buddy and The Savings Squad podcast founder Adele Martin to chat about why the intergenerational wealth transfer is a "now" problem. Ms Martin will MC ifa's upcoming Adviser Innovation Summit, where she will also host a session on how advisers can attract the next generation of clients with engagement and advice service models that are tailored to changing customer needs.

In this podcast, Ms Martin dives into the importance of advisers taking swift action in relation to the intergenerational wealth transfer and outlines effective strategies to do so.

"We're seeing it impact advisers," she says.

"I spoke to an adviser recently who had seven clients pass away last year, which is really sad. He didn't retain any of that business, so there's $40,000-plus revenue that went out of the door.

"This is a problem for those more mature practices."

Moreover, Ms Martin provides tangible tips on how advisers should approach Millennial clients and ensure they "do it right".

To find out more about the Adviser Innovation Summit click here.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Jacqui Henderson, founder and chief executive of Advice Intelligence.

Ms Henderson discusses the evolution of technology in the advice space over her time in the industry, and how advisers could benefit from embracing digital innovations.

She explains the goals of the Australian Digital Advice Association (ADAA), which includes Advice Intelligence, moneyGPS, abrdn, and Ignition Advice, as well as the process behind forming the association.

The pair also cover why Ms Henderson believes that digital advice can coexist with the best interest duty, and how it can help provide advice at scale to a broader audience.

Ms Henderson will join a panel with ADAA's other founders at this year's Adviser Innovation Summit to discuss their goals, and how a unified and coordinated voice for digital providers can revolutionise the industry.

To secure your ticket to the Adviser Innovation Summit 2023, click here.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by George Haramis, co-founder and chief executive of moneyGPS.

Mr Haramis discusses what led to the formation of the Australian Digital Advice Association (ADAA), which includes moneyGPS, abrdn, Ignition Advice and Advice Intelligence, as well as how the process is progressing and the goals of the association.

He addresses concerns that the advice profession has about digital advice, pointing out that with the dwindling adviser numbers, technology can help streamline the process of advice and allow advisers to service more clients.

The pair also cover some of the Quality of Advice Review recommendations, including around superannuation funds offering personal advice and the ability to offer compliant advice through technology.

Mr Haramis will join a panel with the ADAA's other founders at this year's Adviser Innovation Summit to discuss their goals, and how a unified and coordinated voice for digital providers can revolutionise the industry.

To secure your ticket to the Adviser Innovation Summit 2023, click here.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by senior journalist James Mitchell to chat about Labor's latest budget and missed opportunities. Maja and James reflect on some of the biggest budget announcements, including superannuation tinkering, cost-of-living measures, and an unpleasant ASIC levy announcement, while reviewing Labor's relationship with the advice industry, to date. The duo touch on the Quality of Advice Review (QAR), the government's delayed response, and more, including how this budget ignored advice at a time when it's arguably needed the most. Maja and James then ask the question, "Does Labor need to show more respect to advisers?"

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Stuart Robert, shadow financial services minister and shadow assistant treasurer. Mr Robert shares his and the Liberal party's views on the final report of the Quality of Advice Review and why they support its adoption in full, explaining why Minister Stephen Jones' proposed review of the review is an insufficient response. "It's like an episode of Monty Python. You've got a Minister presiding now over the Ministry of Silly Walks. This Michelle Levy review is an outstanding piece of work. The Coalition believes it should be implemented in full and implemented now," the shadow minister says. Mr Robert also reflects on how the adviser industry fared under the Coalition and explains why FASEA was an act of "desperation". The shadow minister doesn't hold back and accuses the Labor party of holding advisers at an arm's length.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Glen Hare talk about the role of the advice community in promoting ESG. Glen Hare, co-founder and financial adviser at Fox & Hare, joins the ifa podcast to discuss the power that advisers have to educate more than 2 million Australians about investing ethically. The pair cover B Corp certification, looking at what it means, why advisers should look into it, and how the certification process works. He also explains how important ESG is for Fox & Hare's younger client base and how that can differ from an advice firm that works with retirees and pre-retirees, before touching on how AI could impact the industry as tools like ChatGPT become more widespread.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Peter Johnston talk about the experience pathway in light of the government's recent announcement.

Peter Johnston, executive director of the Association of Independently Owned Financial Professionals and a longtime advocate of the experience pathway, returns to the ifa podcast to explain its potential as a game-changer for the industry.

The pair run through how the experience pathway would work in practice and whether Mr Johnston believes certain limitations need to be imposed.

He also reveals how receptive the government is to the Quality of Advice Review following his recent meeting in Canberra with the Treasury department tasked with overseeing the government's response.

If you are suffering from depression, anxiety or suicidal thoughts, or you're worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below: Beyond Blue: 1300 22 4636 https://www.beyondblue.org.au/ Lifeline: 13 11 14 https://www.lifeline.org.au/ Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Philippa Hunt, director at AFSL Artemis Investments, to chat through her thoughts on QAR and the need for added focus on the wellbeing of advisers. Ms Hunt speaks about her support for Minister Stephen Jones taking his time to get things right, given the "catastrophic" outcomes for the industry resulting from the rushed implementation of the royal commission's outcomes. She emphasises the importance of considering the human and social cost of legislation and the mental health of advisers, which, she says, were severely impacted by compliance requirements. The conversation concludes with Ms Hunt's views on the future of the financial advice industry and the need for a more holistic approach to advice. If you are suffering from depression, anxiety or suicidal thoughts, or you're worried about someone else and feel that urgent professional support is needed, contact your local doctor or one of the 24/7 crisis agencies below: Beyond Blue: 1300 22 4636 https://www.beyondblue.org.au/ Lifeline: 13 11 14 https://www.lifeline.org.au/ Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au

In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Peter Johnston dive deep on the Quality of Advice Review, the need for patience on the government response, and why advisers are the good guys. Peter Johnston, executive director of the Association of Independently Owned Financial Professionals, discusses which QAR recommendations he believes are positive and the many he doesn't. Mr Johnston explains that the political motivations behind the review are going to hamstring its effectiveness and value, while adding that the new government must be given the same patience to present its findings that was afforded Michelle Levy. He also discusses how a shrinking pool of advisers could be a boon for those that remain.