THOUGHT LEADERS

Building a better business model for financial advice

In a time of sweeping regulatory change and the entrance and availability of new disruptive technologies, the financial advice industry is arguably at a precipice - the question is, how do you take the leap? In this series, we talk to four industry experts about how advisers can streamline their business, improve their margins and better articulate their value proposition.

For more tips or information on how you can build a better practice for you and your clients, go here.

What you'll learn /

This Thought Leaders course will give you insights into:

How the advice business model is changing for the benefit of advisers and clients
The evolution of managed accounts, their appeal and how they work
Improving the adviser to client relationship by communicating your investment philosophy
The new world of advice in a cost conscious environment
  • CPD hours0.25
  • Knowledge AreaMANAGED INVESTMENTS
  • TypeTHOUGHT LEADERS
  • PriceFREE
  • Share

Outline of the course /

The new advice business model is approaching – are you being left behind?

Time’s up for those advice businesses relying on a “limited MDA” structure, and if they don’t find a new way to dynamically manage their clients’ money, many are going to have to go back to the old advice world of ROAs for every investment decision. It’s costly and time-consuming – but at the same time, it opens up a conversation about how the entire advice business model needs to change, to benefit both advisers and clients.

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01.

The rise of managed accounts

Managed accounts have evolved from a way for brokers to be more agile with their clients' investments to a full-blown advice practice management solution. But for those who have yet to make the jump – or those who feel they're not using managed accounts to their full potential – what's the appeal, and how do they work?

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02.

Articulating your investment philosophy

When it comes to investing, it’s easy to describe the “how” – how you’re going to take a conservative approach, how you’re picking out undervalued opportunities, how you’re aiming to hit CPI+3% over rolling five-year periods. But what about the “why” – what’s your actual investment philosophy, and why is it better for the client in the long-term?

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03.

The cost conversation

It’s no secret Australia’s wealth industry has faced substantial margin pressure thanks to new regulations, consumer distrust and fierce competition. In this environment, it may become difficult to work out how, exactly, you communicate your value proposition to clients – but as this video explores, there are ways to have that conversation and make the new world of advice work for you.

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04.

Test yourself /