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 this podcast, Antony Tolfts, the CEO of Blu Horseshoe, joins host Maja Garaca Djurdjevic to discuss the challenges of limited IPO opportunities in the current market, which can make it difficult for financial advisers to help their clients find new investment opportunities for growth. Despite the limited IPO opportunities, there is, however, a silver lining. Mr Tolfts shares insights into the secondary market which is still robust and touches on recent wins at Blu Horseshoe. Overall, Mr Tolfts provides valuable insights into the investment opportunities in a limited IPO market, and how financial advisers can help their clients navigate these challenges. He also gives his opinion on the greatest tests investors and their financial advisers could face in 2023.

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 Nicola Beswick, a financial adviser, and a mentor. Ms Beswick is very passionate about empowering people to create a financially certain future, free from stress and uncertainty. She's also the chair of the Pro Bono Financial Advice Network, where she and multiple other advisers assist Australians living with a personal health crisis to improve their financial wellbeing. On the podcast, Ms Beswick details the emotional journey that led her to abandon her career as a lawyer and pursue one in financial advice. She talks about the importance of pro bono advice, but also explains the need for paid advice, and delves into how financial advisers are making a difference in people's lives. Ms Beswick also shares why she is excited about the future of advice. "I think it's really an exciting time to be part of the advice community because more and more people are starting to realise the benefit of getting advice and how that impacts them positively," she said. "But then also within this really great shift of the people coming in who want to be advisers, the younger professionals, where they're so community minded and community focused." This, Ms Beswick said, is exactly what the industry needs.

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.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Eugene Ardino, CEO at Lifespan Financial Planning. Mr Ardino talks about why he believes the pendulum of change is swinging in favour of advisers in 2023. He gives his overview of some of the key recommendations made by Michelle Levy in the Quality of Advice Review, and details why he believes it will take at least a couple of years for some of the reforms resulting from the review to be implemented. Mr Ardino also touches on Ms Levy's latest admission that she was surprised by the extent to which advisers feel under siege.

Ease into the year with something a bit different than the usual ifa podcast fare with some of the best movies and shows about finance. Host Maja Garaca Djurdjevic is joined by resident movie buff Keith Ford and ifa journalist Jon Bragg to have a look at some movies and shows that feature financial advice (spoiler alert: most are not kind to anyone that works in finance). The team covers some that fit the brief perfectly and a lot more that have a tenuous connection, but you're sure to find a few gems to watch as you get back into gear for 2023.

Get ready for a whole new year of podcasts by having a listen as we run through the biggest episodes of 2021. Host Maja Garaca Djurdjevic is joined by ifa journalists Jon Bragg and Keith Ford to talk about the top five podcasts by listens from last year. Topics that piqued listeners' interest in 2022 included changes in regulation, reviews, and interviews with subject matter experts. Tune in as the team discusses why these episodes topped the charts last year. Listen to the full episode below.

The time has come for the final episode of the ifa Show for the year. Host Maja Garaca Djurdjevic is joined by ifa journalists Jon Bragg and Keith Ford to wrap up 2022. Maja, Jon and Keith count down the top five most-read stories on the website this year, including articles that look at adviser numbers, FASEA and the Quality of Advice Review. The team also highlights some of the most interesting or engaging comments on these popular stories. Listen to the full episode below.

In this special episode of the ifa podcast, shadow minister for cyber security and shadow minister for countering foreign interference, Senator James Paterson joins Phil Tarrant (director - Momentum Media) and MAJGEN (retired) Dr Marcus Thompson to discuss the regulatory impediments preventing Australia from becoming a leader in cyber security. The group begins the podcast discussing the cyber security threats facing Australia and the role of the Australian Security Intelligence Organisation (ASIO). Senator Paterson then details how foreign interference and espionage have overtaken terrorism as the primary security concern for Australia. The team wraps up the podcast in outlining the importance of attracting the right talent with the right skills to power Australian cyber security businesses.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by Haydn van Nek, operations manager at Kelly Wealth from Cairns. Haydn joins the show to talk about a variety of topics and issues causing grief to regional advice businesses. He addresses the experience of running an advice firm in today's uncertain legislative environment coupled with the vast remoteness of its regional setting. Haydn also shares his expectations regarding the Quality of Advice Review (QAR) and the government's assessment of the recommendations. "One of the things we want to see is reduced cost to serve, which obviously would flow onto more affordable advice for our clients," he noted. Other items on Mr van Nek's wish list include reduced disclosure obligations — specifically in relation to the complexities surrounding the current statements of advice — and disclosures surrounding advice fees. Tune in to hear more.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by founder and director of Forte Asset Solutions, Steve Prendeville, to chat about the current state of the advice industry. Mr Prendeville shares why he believes the possible return of superannuation funds and banks to the advice industry could be a "welcome addition", and why he doesn't see them as competitors. "I actually think that there is a great need for Australians to actually have access to limited advice or algorithmic advice." Mr Prendeville also talks about why he believes the quality of advice has never been better and gives his thoughts on mergers and acquisitions within the industry. Additionally, this industry professional explains why he is optimistic about the future of the industry.

Camilla Love started F3 — Future Females in Finance to bring more women into the financial services industry. The program — which won the Women's Community Program of the Year award 2022 from the Women in Finance Awards 2022 — aims to educate young women about careers and finance and nudge as many of the next generation of female talent into financial services as possible. In this episode, partnered by Mortgage Choice, we catch up with the founder of F3 (and managing director of eInvest), Camilla Love, and Mortgage Choice's executive manager corporate communications, events & franchise marketing, Sally Chadwick, to discuss what more we can do to ensure greater female representation in finance. Tune in to find out: The turning point that led Camilla Love to start F3 What we can be doing to welcome more women into financial services What the future looks like for women in finance And much more!

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by her predecessor, James Mitchell, to chat about the state of the industry and why, perhaps, advice isn't meant to be affordable. James compares the state of the industry today versus when he was at the helm of ifa, and delves into some of Michelle Levy's more controversial proposals, such as the return of the superannuation funds and banks to advice. He also talks about the Royal Commission and why he believes it was almost perfectly made for media headlines. Advice, James says, has "got to be one of the most challenging industries to work in from a regulatory and compliance perspective". Moreover, James shares why he believes there needs to be consensus regarding the definition of advice before any more tweaks and quick fixes are implemented.

In this episode of the ifa podcast, host Maja Garaca Djurdjevic sits down with Tristan Hochwallner, head of sales at Asendium, to chat about how tech is allowing advisers to spend more time with their clients. Tristan shares the latest on the current state of the advice tech world and why advisers should review their technology solutions today. "If we look at what a lot of people are using today, [they are] incremental legacy systems [that were] designed 10-plus years ago," Tristan says. "What's happened is, technology has had to respond in a knee-jerk fashion to the changes in compliance. Every couple of years, you've had to quickly go, 'This requirement has changed, how do we quickly bolt on a solution?'" Hence, he says, we have an "amalgamation of all these different elements needing to talk to each other" but not doing it in the most efficient way. So, while advising advisers to review their technology, Tristan also talks about the process that it entails. He touches on Asendium's successes as well, and what sets it apart from the rest.

Host Maja Garaca Djurdjevic is joined by Corey Wastle, the founder of independent financial advice business Verse Wealth, to talk about the adviser exodus and why proactivity matters. Corey and Maja attempt to answer one of today's most prominent questions — how to attract new entrants into the industry. Corey talks about raising the awareness of advice as a career choice, why existing advisers need to be more proactive in spreading the word, and the techniques Verse Wealth uses to hire new staff amid increased competition for fewer advisers. Corey also touches on why he believes that professional advice firms like Verse need to acknowledge that "we're not meant to be here to serve everyone". "Not everyone can afford to have a professional financial adviser in their life. I think we need to be able to offer advice in different ways, in lower-cost ways, in more innovative ways," he says. Tune in to hear more.

Host Maja Garaca Djurdjevic is joined by the winner of Fintech Leader of the Year at the Women in Finance Awards and head of the wealth channel at myprosperity, Karolina Kuszyk, to talk about her win and what to expect from advice technology in the coming year. Talking to Maja, Ms Kuszyk spoke about how technology providers can ease the advice burden. "2023 is going to be the year of technology where a lot of firms are going to sit down and actually look at this." "I think it's important to actually understand what is out there and then make your own judgement on what you think will suit your business best." Ms Kuszyk added that she believes advisers will be turning their focus on mobile apps. "Out of the last hundred thousand client logins [on myprosperity], almost 70 per cent of them were through the mobile app, not through the desktop browser. Whereas four years ago, that was 40 per cent. So you can imagine in another two years what that percentage is going to be." Looking further into the future, Ms Kuszyk said "technology is only as good as the adviser actually uses it". Tune in to hear more, including Ms Kuszyk's message for advisers looking to exit the industry.

Host Maja Garaca Djurdjevic is joined by the CEO of WOW Women's Group, Tracey Sofra, to chat about the changing landscape of advice and why self-care is more important than ever. Speaking to Maja, Ms Sofra talked about how client expectations are shifting to reflect the changing global environment. "There is no panic. It's just: "What do we do now, Trace? What's our next move?" "As the professional people that we are, we are holding their hands and guiding them through the maze of life I suppose, and trying to get them to where they want to go. And I take it really, really seriously." But along this journey, Ms Sofra said that advisers too, need to make sure that they are adapting and modernising their advice. "We've got to adapt and evolve because the world's changed forever. It's never going to go back." On the topic of self-care, Ms Sofra asked advisers "If you're not well, how do you advise somebody else?" "You've got to provide advice with your own conviction and yeah, you've got to be in a really good place yourself." Tune in to hear more, including Ms Sofra's views on the number of women in advice.

The financial services industry has historically been male-dominated but encouraging more women into the space is not only good for society, but good for business too. In this episode, partnered by Mortgage Choice, Anthony Waldron, chief executive of financial services and Mortgage Choice at the REA Group, outlines how the industry can move away from being "male, stale and pale" and encourage more women into the space. Tune in to find out: The barriers that might be holding back female representation What can be done to encourage diversity in industry Why Mortgage Choice is partnering with the Women in Finance Awards 2022 And much more!

Host Maja Garaca Djurdjevic is joined by 9Rok Consulting's Kim Payne to chat about what advisers shouldn't be doing if they want to be more valuable. Speaking to Maja, Ms Payne said advisers first need to ensure they have "the basics right", noting that everything — even how they greet a client — influences their perceived value. "There are so many little things, it's not even the big stuff that needs to be focused on. Sometimes it's just the little stuff. And the 'how are you' is a really good example, because we get on autopilot so much," Ms Payne said. Ms Payne also offers her tips to help you exercise your creativity.

Host Maja Garaca Djurdjevic is joined by AMP's chief economist who makes sense of the government's latest recession rhetoric. We appear to be drowning in recession rhetoric; as such, Maja is joined by Dr Shane Oliver, who offers some much-needed clarity on our economic predicament. Dr Oliver talks about the dangers of "talking ourselves into a recession", offers his outlook for interest rates, and explains the predicaments surrounding the government's first budget, as well as why we can't compare ourselves to the UK and their market meltdown. He also takes a deep dive into current market movements and offers some handy tips to over-anxious investors and advisers on how to help their clients in today's murky environment. Moreover, Dr Oliver addresses the Reserve Bank's latest warning regarding cyber crime and climate change.

On this week's podcast, we're joined by Adele Martin, founder of My Money Buddy and the Savings Squad podcast. Adele sits down with host Maja Garaca Djurdjevic to discuss the importance of raising awareness on how financial advice can better our lives and why it's fundamental to our wellbeing. Adele explains why advice should be a service that everyone has access to. "I remember a client that I worked with once, he was quite stressed about money; he was having his second baby, he was on some medication for his anxiety. Once we got his finances sorted — got them out of the credit card debt — he stopped taking his own anxiety medication and he contributed that to getting his finances sorted," Adele shares. She also talks about the power of social media and how advisers can expand their reach considerably using a few simple techniques. The conversation also turns to the all-important Quality of Advice Review, as Adele shares how she feels about some of the more talked-about recommendations.

This week's ifa Show podcast is joined by Dr Paul Moran, the principal of Moran Partners Financial Planning and the founder and CEO of iFactFind. On this episode, Paul sits down with host Neil Griffiths to discuss the need for standards and protocols in financial planning and how that relates to self-regulation. "It would make it easier to teach financial planning to people because they're learning the protocols. It would make it easier for the regulator because they would be able to make a quick judgement, had the protocols been followed, and in the court system," he explained. "And then from a client point of view, they're getting more certainty for what we do. And then that doesn't change the interpersonal relationship, the values-based approach we take. It doesn't change all of that sort of stuff that we do now, but the outcomes that we are producing become more known and more measurable in that regard." Also on this episode, Paul discusses if the advice industry is currently in a position to self-regulate, the pros and cons of the Quality of Advice Review proposal paper and what the sector could look like if it implements standards and protocols.

In this exclusive interview with shadow financial services minister and former assistant treasurer, Stuart Robert MP, the editor of ifa's sister brand, The Adviser — Annie Kane — finds out what the Morrison government really thinks about Michelle Levy's Quality of Advice recommendations. The former assistant treasurer talks about the royal commission and its impact on advisers, and why he thinks it has been "for the most part, unhelpful". He also admits that the industry should "own its own education requirements" and labels the possible return of super funds to advice "a retrograde step", adding that "super should stick to super". Tune in to find out:

On a special episode of the ifa Show podcast, host Neil Griffiths is joined by Financial Planning Association of Australia (FPA) CEO Sarah Abood and the CEO of the Association of Financial Advisers (AFA), Phil Anderson, to talk about the association's intended merger announced earlier this month. Sarah and Phil sat down with Neil to talk about how long the merger has been in the works, what it means for members and why now is the right time for the groups to come together. "Obviously, the recent reduction in planning numbers has played a part, and it's made us on both sides, I think, think really deeply about what is the best way to use members' funds and how can we ensure that our members are going to continue to be represented effectively," Sarah explained. "So, I think those are the key reasons, but we certainly feel that a merger is the logical next step. We can combine the resources of both the associations and really importantly, create a united voice and stronger advocacy for financial planners and advisers." On this episode, Sarah and Phil also discussed intentions for how the new association will operate, including staff appointments, and how the upcoming Quality of Advice Review will impact the association and industry.

On a new episode of the ifa Show, host Neil Griffiths is joined by senior financial adviser at Tribeca Financial and Ethos Australia director, Nathan Fradley. Nathan joined this week's podcast to talk about the human side of financial advice and why the "best" advisers are focusing on financial wellbeing behaviours and coaching over products. "If you think about traditional advice, a bit of technical competency and goal setting, it's like: 'Can you meet this goal? Oh, we put a million dollars in this portfolio. You get $50 grand a year. You can retire. Check.' "I think the best advisers now, the ones setting the standard, are saying: 'What does it look like in 10 years for you from a social interaction perspective? How are you gaining your social needs once you're retired? Or how are you building meaningful connection with your friends and family? What are you doing from a sense of purpose and how do we facilitate that and money being a tool to enable that?' "And that connection becomes far more than just: 'Well, they did my super and insurance.' That's the hygiene, that's the easy stuff. This becomes really understanding who we're working with, intrinsically caring for them and to a point where we are taking what they say is important and what they do, and we are combining those two things to be the same, in the same direction." On this episode, Nathan also discusses how finfluencers fit into the "human side" of advice conversation, what advice will look like in the future if its properly adopted by advisers and his views on the proposals for the upcoming Quality of Advice Review.

On a new episode of the ifa Show, host Neil Griffiths sits down with the co-founder and president of Aussie advice business management platform Practifi, Adrian Johnstone. Adrian joined the show to discuss the "data paradox", the benefits of M&As in the advice space, and how embracing technology can benefit advisers and firms. "So, integration is just so fundamental… but I think the firms, sometimes, it's easy to go the other way around," he said. "What are they missing out on if they don't? And of course, they're missing out on efficiency, they're increasing risk. They're adding cost to their businesses because they miss out on the scale benefits." On this episode, Adrian also discussed cyber security in advice and how technology can assist advisers' compliance and regulation concerns.

On this very special episode of the ifa Show, host Neil Griffiths is joined by the reviewer of the upcoming Quality of Advice Review, Michelle Levy. The Allens partner sat down to discuss the progress on the report, due out in December, and her opinion on the current state of the advice sector in Australia. "I think we need to make quite significant changes to the way financial advice and the provision of advice is regulated," she said. "I don't think it is a matter of just crossing a few things out. Now, is that realistic? I am hopeful that it is." Also on this episode, Michelle looks at some of the submissions put through industry groups, the role of regulators such as ASIC in improving the industry and her hopes for the recommendations that she'll put forward in December.

Zenith's head of consulting, Stephen Tang, joins a brand new episode of the ifa Show. On this episode, Stephen joins host Neil Griffiths to discuss the growing popularity of managed accounts and how the relationship between it and financial advisers has continued to grow in recent years. What started as a "novel idea" some years ago has now flourished and the COVID pandemic also accelerated the growth of managed accounts in the advice space. Only in recent years, Zenith managed roughly $1 billion in managed accounts under advice. Today, it manages $4.2 billion. "I think [the pandemic] was a good test moment for managed accounts," Stephen said. "People started to understand the real benefit of a managed account, [during] that COVID period clue. Really volatile time. Everything happened. "A really key benefit of a managed account, is that we were monitoring these on a daily basis, looking at the portfolios across our client base, and when we made changes, we did it across all our clients on the same day. That was the real key benefit. Everyone got the benefit of us making changes to the portfolios at the same time." On this episode, Stephen also discusses why advisers are continuing to turn to managed accounts, how they can use managed accounts to work through the current climate and how advisers can ensure portfolios stay resilient through uncertain times.

On a new episode of the ifa Show, host Neil Griffiths is joined by Nigel Baker, founder of digital solution, Scientiam. Nigel joined the podcast to discuss the issues that are stopping the advice industry from not only surviving, but thriving. "There's obviously been the whole shake-up of the financial planning industry and that was needed, but a lot of people don't trust the industry," he said. "Therefore, they go online and try and find things and get stuck with… maybe some of it's good, some of it's bad. So, really what we want [is] that regulatory framework to be able to enable that advice process." On this episode, Nigel also discusses his opinion on the upcoming Quality of Advice Review, Scientiam's submission to Treasury and what the future of advice looks like.

On a new episode of the ifa Show, host Neil Griffiths is joined by the Association of Financial Advisers (AFA) CEO, Phil Anderson. On this episode, Phil discusses the AFA's Quality of Advice Review (QAR) submission, the association's opposition to some other submissions entered by industry groups, and why the QAR alongside the appointment of a new financial services minister signals a huge change for the sector. "I think the Quality of Advice Review is what is going to address the fundamental issues that we have at the moment with access and affordability of financial advice," Phil said. "I think all of them are hopefully going to contribute to what we would like to see, which is a return to growth in the advice market, and that means more advisers. We want to hold on to as many of the existing advisers as we can. We want a steady flow of new advisors into the market." He added: "I think we've got to a point where the demand for advice exceeds the supply. All the conversations I have suggest that people are not having any difficulty finding new clients, and some businesses are going really well." Listen to the full episode below.

On a new episode of the ifa Show podcast, host Neil Griffiths is joined by FINSIA CEO and managing director, Yasser El-Ansary. Yasser joined this week's show to discuss the state of the advice industry in 2022 and the importance of December's Quality of Advice Review (QAR). "I'm certainly one that believes we can do better through this review at creating a robust environment for financial advice that supports all of those big picture outcomes that governments, and indeed, consumers in our economy are looking for," Yasser said. "But we also have to be realistic that the pace of change in financial services, the role of innovation and technology in adapting and evolving the way that financial services is delivered right across the B2C market, as well as the B2B market means that there will probably be a need for governments to continue to maintain a close watching brief on a space like financial advice. So I think the timing is right. I think the work that is being done here is hugely important." On the episode, Yasser also discusses FINSIA's QAR submission, the sector's biggest issues and expectations following the review.

Artificial intelligence, the metaverse… these are just some of the ever-present terms explained in this week's ifa Show podcast. Host Maja Garaca Djurdjevic is joined by Dr Catriona Wallace, the executive director of the Gradient Institute, Adjunct Professor at the Australian Graduate School of Management, and the founder of the Responsible Metaverse Alliance. Dr Wallace speaks about artificial intelligence, its pervasiveness in everyday life and why advisers need to pay more attention or risk being left behind. "In an average adviser's job, there's probably about 40 per cent of just mundane, admin, routine tasks that could in fact be done by an artificially intelligent machine software," Dr Wallace says. "We also know, on average, that an employee spends one day a week searching for information they need to do their job. AI can come in as almost a subject matter expert to provide information to advisers that they need to their job." Addressing fears that AI will replace jobs, Dr Wallace clears up the misconceptions. She also delves into the metaverse, what it is, what it means and why advisers should take note.

The benefits of managed accounts are the focus of this week's ifa Show podcast. As the use of managed accounts continues to grow, host Maja Garaca Djurdjevic is this week joined by HUB24 head of managed portfolios Brett Mennie, Elixir Consulting expert business strategist Graham Burnard, WOW Women Group founder and CEO Tracey Sofra and Private Wealth Partners financial adviser Damien Skidmore to discuss their biggest benefits. "Running a practice has now become quite complex, quite compliance burden-orientated. Costs have gone up in delivering advice to clients and advisers are looking for, within their practice, to become more efficient, looking at where their time is spent," said Mr Mennie. "Managed accounts solve that dilemma while also reducing risk in the practice, so it more systematises the practice." Combating the cost of delay, having professional management oversight and deepening the client relationship were among the key benefits highlighted by this week's guests. Ms Sofra and Mr Skidmore also shared their own perspectives on transitioning to managed accounts, while Mr Burnard stressed the importance of having a plan in place before making the jump.

Host Maja Garaca Djurdjevic is joined by AMP's chief economist who offers a little clarity to an otherwise murky investing environment. Rising inflation, lifting interest rates, stock market tumbles, the likelihood of a recession or perhaps a stagflation… Needless to say, current economic trends are troubling investors and their advisers. As such, ifa editor Maja invited Shane Oliver on the show to objectively evaluate our current economic predicament. Dr Oliver talks about why a recession can be avoided and shares his outlook for interest rates. He explains why he takes Philip Lowe's recession comments with a grain of salt and offers his view of the performance of the Reserve Bank, reflecting on its recent stubbornness on what would become an embarrassing error on 2024 rate rise. Dr Oliver provides some handy tips to scorched investors and explains why the best outcome for share markets would be a sharp slowdown in economic data.

ClearView managing director Simon Swanson joins this week's ifa Show podcast. After issuing its Quality of Advice Review (QAR) submission to Treasury this month, Mr Swanson joined host Neil Griffiths to talk about what he believes is the biggest issue in advice today – the simplification process. "The analogy I'd draw, is actually going to see a doctor, right? You go to see a doctor. The doctor says, 'How are you, Neil?' And you say, 'I've got a cold.' So you've actually self-diagnosed here. The doctor has actually not diagnosed. You've diagnosed yourself, right? "Then you have a conversation with a doctor who may say, 'You need a script', et cetera, et cetera. Does the doctor say, 'Look, I need to do a statement of advice. I need to recommend three different types of medicine to actually resolve your cold, flu, broken leg, whatever you've got. And then I need you to go away for a while I write up a statement of advice. And then I'd like you to come back in two weeks' time?' At which stage your broken leg is probably quite sore, right? It's just a crazy process. "We've got to be in the financial advice game." On this episode, Mr Swanson also dissects the survey that ClearView released alongside its QAR submission and his predictions for what the review will bring in December.

On a new episode of the ifa Show, host Neil Griffiths is joined by Shane Bell, cyber partner at specialist advisory and restructuring firm, McGrathNicol. Shane joined the podcast to discuss the recent landmark ruling, in which the Federal Court found that local firm RI Advice breached its licence obligations by failing to have adequate risk management systems to manage its cyber security risks, and what it means for advisers and practices moving forward. Shane suggested that cyber security be one of the top priorities for firms. "I completely acknowledge and appreciate that there is a huge amount of competing risk issues at the most senior levels of organisations, where it's hard to distil all that down and give everything a voice. But cyber security absolutely has to be there," he said. "If I'm a financial adviser, I'm doing things using technology every single day in my interactions with clients, in my upwards reporting. "So technology is embedded in everything that we're doing. And for that reason, cyber security has to be in some of the top risks that you're considering."

This week's episode of the ifa Show podcast sees host Maja Garaca Djurdjevic joined by Steven Bennett, Direct CEO at Charter Hall. Mr Bennett joined Maja to talk about the importance of a well-diversified portfolio and the benefits of including commercial property. "Property brings something to a lot of portfolios that's really beneficial," said Mr Bennett. "It's less volatile. "Unlisted property doesn't move other than independent valuations, as well as other out-of-cycle rental growth and so on. So, from that point of view, it does provide that lower volatility and it's not highly correlated to those other asset classes like your Aussie equities, global equities," Mr Bennett added. Also on this podcast, Mr Bennett delves into building a property investment portfolio from start to finish and explains why he still believes the office will remain the dominant place to work.

On a new episode of the ifa Show, host Neil Griffiths is joined by executive director of the Association of Independently Owned Financial Professionals (AIOFP), Peter Johnston. Peter joined the podcast to talk about the federal election aftermath, what the change of government will mean for the advice industry, and what the priorities are. "Well, the first thing that needs to be fixed is this cliff facing about up to 3,000 risk advisers," he said. "And these people, if they don't pass it by 1 September, they're actually kicked out of the industry, which would be a tragedy. "The second thing we need is to get this compliance regime fixed. Minimum 50 per cent of these need to be wiped out." On this episode, Neil and Peter also discuss shadow financial services minister Stephen Jones' previous comments about immediate action on changes to education standards and what the industry can do to work alongside government to enact positive change.

This week's episode of the ifa Show podcast sees host Neil Griffiths joined Scott Miller, CEO and co-founder of financial advice disruptor, Asendium. On this episode, Scott discusses why the advice industry is on the precipice of even more change after the impacts of the COVID-19 pandemic and with a predicted exodus of advisers by 2026. "But there's also going to be a great opportunity," Scott said. "Now, what I mean by that is, planners will be able to access and service more clients as a result of the shrinking industry… one of the reasons I see planners changing as well, and the industry on change, is technology has become the forefront of everything right now." On this episode, Neil and Scott also talk about why it's becoming more cost-effective to be an independent financial adviser, what licensees can be doing to support advisers though this change, and analyse the state of Australia's technology ecosystem in 2022.

Integrated Portfolio Solutions COO Nigel Singh joined host Neil Griffiths on a new episode of the ifa Show. On this episode, Neil and Nigel discussed the technology trends that could drive the industry forward over the next five to 10 years, including the rise of crypto-assets. "There's going to be some advisers that feel comfortable giving advice about it. There's going to be some advisers that don't want to touch it with a 10-foot pole. "So this is going to be a huge thematic, obviously over the next five to 10 years, that I think we need to be conscious of, but it's not just crypto. I think it's just alternative assets." Also on this episode, Neil and Nigel look at the opportunities for financial advisers with these rising trends and what regulators' involvement in the space.

On a new episode of the ifa Show, host Neil Griffiths is joined by co-founder of financial planning software company, Plutosoft, Vincent Holland. Vincent joined the podcast to discuss the importance of running an efficient and profitable financial planning business and how businesses are tracking in 2022. "Look, rightly or wrongly that the compliance framework is what it is, others will judge whether that's a good or bad thing. We can only deal with what's in front of us. And it is a very compliance-driven industry," he said. "So that really underscores why you need to be efficient, because that red tape puts so much more time in the process. So you need to be able to automate those parts of the process which don't add value. And really the goal is to free up the adviser's time so that you're spending your time on the things where you can add the most value for the client." On this episode, Neil and Vincent also look at what financial planning businesses are doing right, what needs to be improved, and what Vincent's thoughts are heading into the Quality of Advice Review in December.

On a new episode of the ifa Show, host Neil Griffiths is joined by DASH CEO, Andrew Whelan. The head of the advice software and platform solutions provider joined the podcast to discuss the company's recent rebrand from WealthO2, its recent merger with Roar Software and what that means for its role in the advice industry. "I don't think there is a world out there and a version of this world where the advisers start to view the platform as being commoditised," Andrew said. "And I think the fact that also you have now 2.0 platforms per practice on average… which suggests as a technology solution, if you've got between three and six of anything in your practice, are they actually providing a solution or are they just a straight vendor? Or is that a product that you've got and you use from time to time? "So we really sort of challenged ourselves from a strategic point of view - what do advisers need in our platform to add to that line-up that they've already got? What are the problems they're facing? Is there a need for another platform on its own?" Also on this episode, Neil and Andrew discussed the need for the tech and platform industry to step up for advisers, regulation in the space, and expectations over the next few years.

This week's ifa Show podcast is joined by special guest and head of advice sales at Midwinter, Stacey Cowan. Stacey sat down with show host, Neil Griffiths, to discuss the large amount of movement and change in the advice industry in recent years, particularly following the Royal Commission and throughout the COVID-19 pandemic. Rather than looking at it through the lens of the global great resignation movement, Stacey prefers to call it "the great advice reset". "I think this idea of the advice reset is more that when we're talking to advice businesses, a lot of them are really interested in evolving with this change," she said. "It's actually more about how do we embrace the change and adapt with it? And I think the idea of the reset rather than the resignation is really coming through when you see all these great updates and exciting changes that people are starting to explore and implement." Also on this episode, Stacey and Neil look at what adviser expectations are in 2022, how concepts like digital adoption can help practices and what the biggest trends are in the industry right now.

On this week's ifa Show, host Neil Griffiths is joined by MetLife Australia's head of customer strategy and propositions, Matt Lippiatt. On this episode, Matt and Neil discussed how Australian financial advisers can use health services to grow their businesses and how that has changed in recent years. "I know of some businesses out there… who have been on this journey for a number of years. And for them, health and wellbeing, tied to a goals-based advice process, this is their bread and butter," Matt said. "For others, the value proposition that they've had has been quite focused and it's been fit for purpose. So not knocking it, but it's been quite focused on 'how do you add value through superior investment performance, structuring tax efficiency', all the bread and butter things that we would associate with what a financial planner does. "But I guess there's an opportunity there, and really it's about advisers working out what's right for them." Neil and Matt also looked at how the insurance industry has shifted throughout the COVID-19 pandemic, as well as the adviser-client relationship, and shared expectations and predictions for the sector over the next 12 months.

On a new episode of the ifa Show podcast, host Neil Griffiths is joined by FinClear CEO David Ferrall and general manager, Dean Jagger. On this episode, David and Dean react to the announcement of the clearing, settlement and wealth management technology and service provider's new digital facility, FCX, and the future of investing and what that looks like for financial advisers. In particular, the role of regulation in regards to technology and growing features such as crypto-assets, will play a big part. "The problem with this unregulated world is that it's unregulated and the regulators don't have any transparency. They can't see into it. It's all decentralised peer to peer," David explained. "Financial markets have always operated up till now on central trusted counterparts that the regulator oversees and can always look into and chase you down if need be… with this centralised capability, that capability is just not there. "The regulators are struggling with how to regulate that world, how to look at that world, how to make it more transparent. "Really what we are doing here is saying we actually don't know how that resolves itself, and it might take some time, but what we are doing is bridging the old world into the new world."