Challenge the Standard in Financial Advice

This week, we conclude our  Ongoing Advice series with the one, the only Michael Back.  Renowned by advice firms that know what's what, Michael has long helped advice practices take their client experience to the next level.  So we've asked him to come on to help us explore the CX part of Ongoing Advice, with a very particular focus on the value of all the coaching advisers do for their clients. ...

Continuing the Ongoing Advice series, this week Nathan and Jordan dive into the mechanics of delivering ongoing advice. Specifically - designing the review meeting/s (don't let it be said this podcast goes too wide with its topics...). They talk about how their own view has evolved through the series, and examine the different ways you could structure your time in the review.  Start by asking lots...

Continuing our Ongoing Advice series, this week Nathan and Jordan unpack some of the various ethical dilemmas that advisers can face while maintaining a long-term relationship with clients.  And we're talking about the  real dilemmas, not the no-brainer ones. Things like: For new clients, how do you judge if they even need ongoing advice? If your business has the position that all clients need to...

A key question for Nathan and Jordan as they explore this series on Ongoing Advice is whether or not it's different to 'upfront' advice.  This week's guest, Thabojan Rasiah of Rasiah Private Wealth Management, firmly believes that it's not.  That it's all 'advice', and that the real value of working with a financial adviser comes from the exponential benefits of a longer term relationship.  Thaboj...

Continuing our series on Ongoing Advice, this week we are joined again by Martin McGrath of Financial Edge Group. Martin, former CFP of the year and - arguably more important - former guest on the show, shares with us: how critical an ongoing relationship is with their clients numbers around how many new clients go from onboarding to ongking how they've worked out their fees the touch points they...

In this episode of Challenge the Standard in Financial Advice, the boys welcome Celine Ertak from Tangelo Advice Consulting.  They discuss the evolution of Tangelo, the importance of compliance as an outcome of good business practices, and the challenges faced by financial advice firms in establishing clear strategies. The conversation delves into the significance of ongoing advice, client engagem...

Starting off a new series with an episode dedicated to reviewing legislation and regulations might, for any other podcast, be pretty dull.  But that's exactly what Jordan and Nathan take on this week - what the actual legislative and regulatory background is when it comes to Ongoing Advice.  From INFO256 to INFO286, pre-FoFA, Corps Act and the documentary requirements of a compliant Ongoing Advice...

After the success of our series on the ins and outs of the PY, Nathan and Jordan have decided to launch another series focused on a very specific, very important part of financial advice - Ongoing Advice.  In this week's episode, they walk through their plans for the series, as well as where they're coming from as they embark down this path.  They agree on a few big points: Ongoing assistance of c...

This week's episode is a must-listen, especially for any business owners or managers out there.  Katherine Spitzkowsky, of Yulania Financial, takes us through the power of meeting people where they are - clients, staff, family, friends.  She helps us explore the realities of working with the neurodiverse population and shows the care and attention that empathetic advisers bring to their practice. ...

In this week's episode, Nathan and Jordan speak with Sarah Abood, CEO of the FAAA.  Sarah and her team have been in the front lines for all of the big fights affecting advice in recent years, from: The outrageous debacle that is CSLR The quicksand that's been the QAR > DBFO stream The ballooning costs of providing advice And the myriad of other issues affecting members of the peak body for adviser...

We're mixing it up this week - breaking away from our usual programming around one big topic, to answering a handful of the questions we've had come through.  Ranging from dealing with overly-long SoAs, the power of peer groups, living in a vertical house of integrated conflicts, the questions are universally interesting, well-worded and powerful.  The answers, well, they're ok, by comparison.  Th...

Aren't SoAs just  the worst ?  Clients hate them. Regulators hate them.  We hate them.  If only the DBFO changes had have swept them away and saved us. Instead, we get stuck with that throwback to the 80s - the CAR. Nothing's changed, what're they doing, come  on .  Well. Yes and no, is our argument in this week's episode.  You're right - nothings really changed.  But also - there's nothing in the...

A recurring theme in this latest series is the idea that being clear on who you love to serve, how you serve them and the value you provide them is, really, the key to success in financial advice.  Entwined with this idea is the importance of how you're branding yourself - as a practitioner, business owner and professional.  Which is why we've invited Abi Gatling of Crisp Communications on to this...

We were going to call this one 'Return of the D'Ap', in line with the Mark Morrison classic jam. But, as with all things Challenge the Standard, we've gone the more professional and serious route for this return episode with James D'Apice.  Founder of Gravamen . purveyor of Coffees and Case Notes, prolific podcast participant, you probably know James from his online presence (or his previous appea...

It's an ethical dilemma all advisers have faced - should you charge ongoing clients for new SoAs? And if you should, then how do you do it? Or, if you think you  shouldn't - why not? This week's episode sees Jordan and Nathan explore this potentially thorny topic, but with the clear goal of unpacking why this is something that makes so many of us feel so uncomfortable.  Is it because, as Nathan pu...

This week's episode is a unique one - informative and terrifying.  Well, terrifying if you're as nervous about a cyber breach as Jordan is. Our guest this week, the unflappable Fraser Jack, joins Nathan in more calmly exploring the importance of cybersecurity for professional service firms.  Fraser takes us through: Their approach, which involves starting with the Big Picture and rolling from ther...

In a worryingly slow turnaround time, this week's episode is a full 7 days after Nathan wrote, published and shared our survey around The Activity of the Average Adviser.  We're disappointed at taking nearly half as long as your average insurance amendment quote, so would like to apologise to our listeners.  Even so, hopefully you enjoy our examination of the first dataset provided by our generous...

It's fun, shiny and exciting - but is chasing the newest part of your tech stack really going to help you with your business? In this week's episode, Nathan and Jordan unpack the role of the tech stack you use in your practice.  They discuss: What's the best approach to searching out new tech? What are some of the pitfalls to avoid? Will new tech solve all your problems, like the sales pitch says?...

Every successful (throwback to last week) advisory practice will have found a way to bring more referrals  into the business.  But, in this weeks episode, Jordan and Nathan explore some of the other parts of the referral equation.  For instance: Is there such a thing as a 'bad' referral? How can you increase the chances of a referral contributing to the business you're trying to build (instead of...

What makes a 'successful' financial adviser? Do  you feel like a successful financial adviser? If not, why not? This week's episode is all about answering these questions (and a few more).  Jordan and Nathan highlight: The importance of defining your own version of success Why articulating and sharing that with the people around you matters The metrics that you could measure to track this version...

As an Australian financial adviser, you've heard of your Approved Product List, or APL.  But do you have a  Preferred Product List, or PPL (we're making it a thing).  Of course you have the product you prefer, but how robust is the methodology you've used to build that out? Is it aligned with your ideal client, the space you work in, your investment philosophy, business priorities and beliefs? In...

How do  you approach the ethical investing conversation with your clients? Open discussion? Advocate for the option? Or just avoid it and hope they don't ask? (Don't feel bad if this is you - you might be in the majority).  In this week's episode, Nathan and Jordan explore this very big, somewhat intimidating topic. And, as always, the aim is to explore it from the perspective from the adviser's c...

After last week's digression down rant-y alley, this week we explore the more interesting, technically fascinating topic of Granny Flat Rights.  What they are, why they matter, how financial advisers can help and the (many, many) traps to avoid as you're helping clients navigate this complex space.  This is one of the more techincally complex topics Nathan and Jordan explore, but their repeated at...

So, somehow, we've hit 50 episodes! And to celebrate, Nathan's allowed Jordan to climb up on his soapbox and wax lyrical about his favourite subject in advice - Licensing.  While he insisted on keeping it relatively constructive and useful, Jordan still manages to provide his, uh, unvarnished thoughts on the merits of the current system.  Nathan's patience shines through towards the end of the epi...

Building an outstanding financial planning practice boils down to two, simple (but not easy) ideas - finding new people to work with, and making the process of working together efficient, effective and excellent.  Jordan and Nathan have discussed the second part of that equation - now it's for the first part: finding new people to work with.  In this week's episode, they talk about the importance...