This year the team behind the ifa Business Strategy Day has listened closely to feedback from past delegates, consulted with leading industry figures and kept a close eye on the rapidly changing nature of the Australian financial advice sector.
Informed by our team of dedicated reporters, the 2019 ifa Business Strategy Day agenda has been designed to help you carve out a plan for your planning practice that will deliver significant results or you and your clients.
Unlike other events, which roll out the same speakers to spruik various products and asset allocation agendas, this event is built around the adviser and their business with a focus on business strategy, execution and growth.
Industry expert and Forte Asset Solutions director Steve Prendeville will share his secrets from 30 years in the field about what makes a business thrive and how you can future-proof its profitability. He will show you exactly how to grab opportunities by recognising the most valuable options for your business.
One of the most exciting aspects of the ifa Business Strategy Day this year is its research-based focus on your clients and what they really want. As many advisers will know, different generations pose different challenges.
That’s why we’ve designed a session that delvers insights into the psychology behind economic decision making. We will explore the differing attitudes between Baby Boomers, Gen Xers and Millennials, and their behaviours towards money, financial advice and retirement, and where you fit in.
The event will also cover alternative investment strategies, the best marketing channels to engage with your clients, and delve into one of the biggest topics dividing the industry: education.
A panel of academics, government authorities and industry associations will provide a comprehensive update on the FASEA reforms and clearly outline exactly what advisers need to know moving into 2019 and beyond. This session is not be missed, as delegates will be given the opportunity to ask questions of those setting the new educational standards for the profession.
“We’ve really looked at the big themes impacting the financial advice industry when designing this year’s agenda,” ifa editor James Mitchell said.
“What has become clear is that many advisers are at a crossroads right now and have been left wondering which direction they should take their business. Some even feel that outside forces beyond their control could force their business in a different direction than they had planned.
“The ifa Business Strategy Day puts advisers firmly back in the driver’s seat and provides a range of superb speakers and content to invigorate attendees and leave them knowing that they are in control of their destiny and armed with the best tactics to continue building profitable, professional and in-demand planning practices.”
The national roadshow will return to Brisbane (5 March), Melbourne (7 March), Sydney (12 March) and Perth (14 March). For more information about the event or to secure your early bird ticket, click here.
Personalised advice is going the way of the dodo. An adviser cannot service even the upper middle class anymore due to all the compliance and associated costs. Personalised advice will be for HNW clients only and everyone else will be left to sort it all out online with none of the protections provided by financial advisers.
What a load of tripe. Low net worth clients maybe but the upper/middle class are still absolutely commercial. You just might not get to own that mansion and tennis court like the ‘good old days’ but you can still earn a good, honest living if you actually want it.
This liberal government has done a stellar job at destroying the advice industry. Thank you Malcolm and that other idiot minister for women affairs or whatever rubbish she does now
The Banks and Life Insurance companies are to blame and ALL should lose their licences. They have done more damage than Dover !
Prediction: The same advisers that have been complaining about needing a degree for years will still be complaining about everything throughout 2019.
I haven’t been complaining but it is madness – many great advisers will leave period. Education, once completed, is no silver bullet and more will follow – assuming this is the final case from Govt/Regulators on Financial Planning is to ignore history – it will never stop. The biggest issue is compliance. We were just discussing what would happen if we went “off grid” (no longer licensed). Dealer costs go, PI probably goes, ASIC fees go, TSB goes, FPA/Monitoring body costs go etc – its a big number. Then compliance costs go and that is massive. Ordinary people will not be able to afford an Adviser as compliance is out of control so they will seek advice online or the money show, media, latest book, friends at BBQ, Industry Super or the PC will have 10 “best in show” and that will be it. Do the education and we still need to operate under huge amounts of red tap with more I suspect to come. Your prediction is?
Clients do not matter anymore……..
The future is bright if you can survive this. I suspect that many wont and will throw in the towell… tko
The future? 80% of your time taken up by red tape and compliance, 10% sales, 10% retention/reviews etc. earnings will halve, work and study will triple.
Thank the FPA for your new work/life balance and destruction of your business and it’s resale value being near worthless.
i have a feeling depending on client base reviews will take up more then 10%
there is no future in financial advice for the vast majority of planners. after the exam and the study requirements there will be very few left. my guess would be about 5,000 only
Bigger slices of the pie for them then ?
I suspect for the adviser remain, the “pie” of clients will be much smaller as you will only be able to afford to service HNW clients or those willing to pay but BID may also prevent that. My HNW clients most started as small clients. Why bother?
It’ll be a great time to be a quality financial planner