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Advisers weigh in on why Australians are shunning advice
This article has been taken from the NMP education library which has now moved to Advisely A Money and Life Tracker survey identified that nearly half (41%) of survey participants believed that only they could be trusted with their finances. What's even more shocking is that just 9% of participants said that having a…
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Bureaucracy is ripping the heart and soul out of advice
This article has been taken from the NMP education library which has now moved to Advisely While that certainly came to pass, neither she nor anyone else could have predicted one of the main reasons why. COVID threw into stark relief the true extent of many Australians’ financial precarity, which prompted around 2.6…
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The old referral model is dead. Here’s what’s next
A long-held belief has been that the “dream team” experience of financial planning, broking, accounting and legal should all go hand-in-hand, with an account managed by the planner. Of course, many of these relationships have been developed in the past via referral agreements, where each of the parties refers to each…
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Advisers need to change their hook
This article has been taken from the NMP education library which has now moved to Advisely So what has this to do with the hook and advisers? Communicating in creative and authentic ways and showing customers the “story” of finance and how working with the industry can be transformational. Advisers need to tell authentic…
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The survival of advice will depend on digital partnerships
This article has been taken from the NMP education library which has now moved to Advisely The report, Human Touch in a Digital World, notes that to date “the focus of incumbent investment has been on solutions to improve adviser communications and transactions, such as improved application forms and policy administration…
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How advisers are slashing up to 30% of business expenses
This article has been taken from the NMP education library which has now moved to Advisely There are some green shoots, however. For the first time, there has been a concerted effort to try and drive the cost of financial advice down and make it more accessible. And anyone that runs a financial planning business knows that…
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Don’t get wiped out by the generational tsunami
This article has been taken from the NMP education library which has now moved to Advisely While it’s easy to get caught up in the seemingly endless waves of reform and inquiry hitting the financial advice industry, there remains a much stronger tidal force in the background – one that could sweep away client books and…
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Is the advice industry suffering from “change fatigue”?
This article has been taken from the NMP education library which has now moved to Advisely When Financial Advice Matters Group (FAMG) launched a separate business focused on corporate wellness education seven years ago, managing director Darren Smith became acutely aware of how much was missing from the general public’s…
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Will advice recover from the post-FASEA exodus?
This article has been taken from the NMP education library which has now moved to Advisely Having worked in finance and financial planning for over 30 years, the Story Wealth Management CEO has borne witness to multiple periods of upheaval in the advice industry – and, like her fellow travellers, has had to learn and…
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Rise of the machines
This article has been taken from the NMP education library which has now moved to Advisely It’s passed law exams at US universities, Victorian schools just banned access to it and you can use it to shoot the breeze with a cyborg Benjamin Franklin: GPT-3.5, the latest version of the artificial intelligence language model…