The ifa Show

In this episode of the ifa podcast, host Maja Garaca Djurdjevic and Conaill Keniry explore important industry topics, starting with the Quality of Advice Review and proceeding to the relationship between financial advisers and dealer groups. Conaill Keniry, the founder of What If Advice and owner of small dealer group Cobalt Advisers, discusses the power struggle that many advisers face with their dealer groups. Mr Keniry explains that many advisers are unaware of the extent of a dealer group's control over their business, including their revenue and the release of their clients. He provides several examples of the difficulties experienced by financial advisers and offers tips for those looking to migrate to a new group. Mr Keniry also talks about whether he expects the QAR to create competition among dealer groups to improve their behaviour and treatment of advisers.

In honour of International Women's Day, host Maja Garaca Djurdjevic sits down with Naomi Christopher, the head of marketing and public relations at Lonsec, to delve into the challenges and opportunities that women face in the world of financial advice. The conversation focuses on the importance of diverse voices and thoughts in the industry, the setbacks women faced due to the pandemic, and the role of financial literacy in bridging the gender pay gap. Ms Christopher shares her 13-year journey in the industry, offering valuable insights and perspectives gained from working across various parts of the finance world, including technology, research, and investment management. She speaks passionately about the challenges women face in financial advice and how to overcome them, all while encouraging diverse voices and thoughts in the industry. Moreover, Ms Christopher advocates for the importance of diverse voices and inclusion in the financial services industry, believing that a diversity of thought is critical to success, not only in financial advice but in all sectors. Overall, this episode of "The ifa Show" offers insights into the challenges and opportunities facing women in financial advice and serves as a reminder of the importance of elevating diverse voices.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Dr Katherine Hunt, a director at Ardentura Consulting.

Dr Hunt explains why she believes the advice profession is the "number one winner" of the Quality of Advice Review and how it promises to walk back what she describes as "government overreach".

Looking at the recommendation to remove statements of advice, she outlines how the change could work but cautions that without details, advisers shouldn't get ahead of themselves.

Dr Hunt also touches on getting new advisers into the profession, as well as the role of adviser education standards.

Finally, she talks about how advisers can continue to work through the continuous changes to the industry and show their resilience.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Ben Neilson, adviser and researcher at Neilson & Co Wealth Management. Mr Neilson explains why he thinks Michelle Levy has done "a fantastic" job by taking an incredibly complicated piece of "building-block based legislation" and turning it into a coherent report. He touches on the potential expansion of the scope of personal advice, and explains why he feels allowing superannuation funds back into advice isn't a bad thing. Mr Neilson also talks about creating a unified voice in advice and how that voice can be appropriately channelled to create impact. Finally, he talks about ChatGPT and reveals how he utilises it in his business as a time-saving tool.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Sarah Abood, the CEO of the Financial Planning Association (FPA).

Ms Abood joins Maja to discuss the final report of the Quality of Advice Review (QAR), which was published by the government last week.

She shares her overall perspective of Michelle Levy's recommendations and why radical change is required and what it entails.

Ms Abood also touches on Minister Stephen Jones' intention to review the review, and why this has the potential to delay any real change.

She also addresses some of those more contentious recommendations and why the FPA does believe a few do need to be discussed and examined to protect the quality of advice and advisers.

Lastly, Ms Abood explains why she is optimistic and why 2023 will be a better year for advisers.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by AFA chief executive Phil Anderson.

The CEO of the Association of Financial Advisers (AFA) talks about the impending vote on the proposed merger of the AFA and the Financial Planning Association (FPA).

He details why he believes Michelle Levy is brave and reveals which of her recommendations he found particularly "revolutionary".

Mr Anderson also has some wise words for those who have been most vocal in their opposition to the Quality of Advice Review.

"The Quality of Advice Review is the only game in town at the moment. This is the only way we are going to fix the problem that we all appreciate is in financial advice.

"Even our minister has described it as a hot mess. This is the only reform agenda that is in play that will achieve fundamental change. Yes, we could ask to tinker at the edges, but this is our one big opportunity to make fundamental change," he says.

Hear more below.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Scott Miller, CEO of Asendium, to talk about why it's important to increase access to advice.

Having spent many years as an adviser, Mr Miller reflects on how the industry has changed in the years since.

Paperwork, he notes, is something that has definitely swelled, with SoA management and customisation significantly cutting into the profit margins of financial planning businesses and licensees.

As such, Mr Miller talks about how Asendium is addressing the personalisation and management of SoAs, and how it will cater to 16,000 advisers who all want different strategy wording and template changes.

Moreover, Mr Miller addresses the Quality of Advice Review and expounds on why it's important for more Australians to access advice.