The ifa Show

On this episode, the Australian fintech provider sat down with host Neil Griffiths ahead of his appearance at the 2022 Adviser Innovation Summit events in June to talk advisers coming out of the pandemic and why the goals discussion is so important. "The industry's come a long way in the last decade or so, especially in the area of goals and how goals fit into the advice process, because really you can't be giving advice to a client in a segment of advice if the client doesn't have a goal associated with that advice," Hans said. "Why are you providing advice there, if the client doesn't want to do something there? "So the goals discussion has become very important for that reason, but also because it's actually what the client wants to do, that you, as the adviser, should be focusing on."

On a new episode of the ifa Show, the creators of a new survey looking at the mental and emotional health of financial advisers in Australia join the show.

Philippa Hunt, director of Artemis Investments, and Steve Prendeville, founder and director of Forte Asset Management, sit down with host Neil Griffiths to discuss the new survey and what inspired them to put it together.

"What are we trying to achieve, let's quantify the problem and hopefully build some support systems and professional referrals," Steve said.

"Also, I think if the minimum we achieve is that people understand it and know that they're not alone. And then hopefully if we've got some data we can speak out and up, back up to government and try and sort of quantify these unintended consequences of mass legislation in a short period of time."

Philippa and Steve also talked about the role that government and regulators play in the matter and if they are providing enough support.

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 www.beyondblue.org.au
• Lifeline: 13 11 14 www.lifeline.org.au
• Suicide Call Back Service: 1300 659 467 www.suicidecallbackservice.org.au

The ifa Show is brought to you by Sharesight

On this week's ifa Show podcast, David Carney – CEO of local outsourcing company Virtual Business Partners – joins host Neil Griffiths.

On this episode, David and Neil discuss the declining number of advisers in Australia, which is predicted to reach 13,000 by the end of 2023.

David shares his thoughts on the matter and what the industry can be doing to not only curb the trend, but also attract new entrants.

"We definitely have some challenges within the education sectors to promote people taking up the courses and that's obviously something that we need to look at as an industry…" he said.

"But I think the consolidation is, certainly, for the independent firms that we deal with, is actually a great opportunity.

"And we're just seeing a marketplace…where a lot of the foundation people that started businesses are reaching retirement age, et cetera. It's consolidation before the next probably phase of growth, but lots of opportunity for those that stick in the industry." The ifa Show is brought to you by Sharesight

Host Neil Griffiths is joined by Synchron's new general manager – compliance, Phil Osborne.

On this episode, Phil discusses the current state of compliance and regulation in the advice industry and what needs to be done to improve it by government, the regulators and the industry.

Phil also addressed the contentious topic of education standards in the sector and what that could mean for advisers post-election.

"Let's be smart about it. I think that there's been a lot of knee jerk reaction," he said.

"A lot of people that are making very well-intentioned and great ideas come forward, but they just haven't stopped to consider what it actually will take for the practitioner to be able to implement that effectively and still actually meet their ongoing obligations to service their clients." The ifa Show is brought to you by Sharesight

On a special episode of the ifa Show, host Phil Tarrant is joined by MAJGEN (Ret'd) Marcus Thompson, former head of the Department of Defence's Information Warfare Division. Following Prime Minister Scott Morrison and the Australian Cyber Security Centre's (ACSC) warning to Australian organisations that malicious activity may have local ramifications on the back of Russian-linked cyber attacks on Ukraine, Phil and MAJGEN (Ret'd) Thompson discuss Russia's history of cyber war and how this vector will continue to shape peace and conflict in the future. This episode also looks at the impact of cyber warfare on Australian businesses, including Australian financial advisers who hold valuable client data in their books.

The ifa Show is brought to you by Sharesight

On a new episode of the ifa Show, host Neil Griffiths is joined by award-winning financial adviser and the founder and CEO of WOW Women's Group, Tracey Sofra. To coincide with International Women's Day this week, Neil sat down with Tracey to discuss the state of gender equality in the Australian advice industry, how far it's come and how much more it's got to go. "We're around the 15 to 20 per cent representation, which that figure's been around for quite a while, [it] hasn't changed a lot," Tracey said. On this episode, Tracey also expressed why financial planning should be considered both as a career and client by women. "I think it's a magnificent profession for women, so much flexibility. It is a tune to our natural abilities as women from a compassionate point of view, from an emotional intelligence connectivity view, it allows great flexibility," she said. "[Women are] more comfortable with female financial advisers… women out in the community need advice and when they seek it, there's not enough of them in the industry to provide that advice." The ifa Show is brought to you by Sharesight

On a new episode of the ifa Show, host Neil Griffiths chats with the Financial Planning Association (FPA) CEO Sarah Abood. After taking over from former CEO Dante De Gori late last year, Ms Abood sat down to discuss a number of current issues in the advice sector, including compliance and regulation and heated debate about the current education requirements. "What's missing for me in a lot of the conversation right now is probably a deeper discussion about whether the standards are fit for purpose and for the different types of practises that many advisers have," she said. "The anger about the current requirements that I've seen has often come from advisers who are specialising in a particular area of advice, and I can really understand the frustration of an adviser who might be practising in, say, personal risk and the fact that they're being asked to go back to uni and do tertiary level of qualifications, in some cases for many years, in areas in which they don't practice is infuriating. "I think we should be talking more about specialisations, and I think [we] should be recognising those in the standards, and I really hope that that's taken on board." Listen to the full episode here.

In this exclusive podcast, shadow financial services minister and shadow assistant treasurer, Stephen Jones MP, joins Momentum Media's editor of mortgages Annie Kane to chat through the ALP's assessment of the financial services industry. Mr Jones dissects the government's treatment of advisers and outlines Labor's plans to revamp education requirements. Tune in to find out:

• Why fixing the advice area is the greatest unfinished business in the financial services area
• His thoughts on FASEA education changes and Labor's pledge to experienced advisers
• The government's proxy advice regulations and why Labor disapproves

And much more! The ifa Show is brought to you by Sharesight

Helen Baker – financial adviser and founder of Australia-wide service On Your Own Two Feet – joins this week's episode of the ifa Show. Helen joined the podcast with host Neil Griffiths to discuss the vastly different advice strategies when working with retirees and Millennials and the biggest challenges and opportunities that brings for financial advisers. On the episode, Helen also discusses challenges and opportunities for advisers themselves in 2022 and beyond particularly coming off a year that saw a high number of reforms introduced. "There is so much opportunity. I think it's a great role. I love, love, love what I do with clients and seeing their lives the way they are and engaging with people. And I think most advisers do, which is why we do it," Helen said. "But I think that 2026 is going to be another deadline. And the big problem is we are letting a lot of people go, who have an enormous amount of experience, who can be great leaders and great mentors, but the way that it sits right now, there's not really an incentive to bring a brand new recruit on out of university and put them in your office. It's just too expensive and it's more time commitment." The ifa Show is brought to you by Sharesight

On a new episode of the ifa Show, BT's head of managed accounts Zac Leman and head of platforms Chris Mather joined host Neil Griffiths to talk about the rise of MAs. Zac and Chris discuss how managed accounts have gone from a niche to mainstream offer for advisers over the past 20 years and why the pandemic has accelerated its importance. "They're becoming the go-to solution for many advisers and they can be purpose-built for boutiques as well as large advice practices," Zac said. Chris added: "It's also a really good way to manage the cost of delivering advice. And there's a consistency that all clients are getting exactly the same investment outcome without operational delay of implementation activities. "And it means that advisers' value propositions, in many cases, have also evolved away from being the execution and investment manager to managing the investment manager and really focusing on strategic advice." Listen to the full episode here.