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Beyond greenwashing
Let’s be honest: ESG will become yet another buzzword if we don’t get real. ESG can be much more than a trend. ESG is a chance for you to lead with purpose, build trust and deliver real value for your clients. The challenge? Cutting through the noise. Clients need to see that ESG isn’t just about good intentions; it’s…
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Why I'm dipping my toes into private markets
Over the past year or so, there’s been a lot of buzz around private markets. Whether it’s private equity, private credit or infrastructure, these asset classes are no longer the exclusive domain of institutions and ultra-high-net-worth clients. They’re becoming more accessible, more productised and more relevant to the…
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Tracking Client Progress
How do you track clients progress over time? We sometimes put together a report showing the balance, withdrawals and contributions each year. This helps to show how the clients portfolio grows over time. However we're doing this manually and it's time consuming. Is there any automated way to do with? Any reports built into…
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Running down a dream
For such a well-worn idea, the "Australian dream" is surprisingly difficult to define. Such is the nature of dreams, I suppose. From the most cursory of searches, the Australian dream was once London – "the Mecca to which all good Thespians should bend their steps," as per an article in Table Talk magazine from 1897.…
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Overlaying key life events against portfolio balance reports
We have been discussing as a team if it would be more meaningful for clients for us to overlay key life events (the purchase of a house, paying for a child's wedding, receiving an inheritance etc) over a Portfolio Balance report so the clients have some context as to the drops and peaks in their portfolio balance over a…
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Closing the data gap
This article has been taken from the NMP education library which has now moved to Advisely Let’s start with some troubling figures: according to recent projections, there are around 12 million Australians who say they have unfulfilled advice needs. The average adviser can work with up to 120 clients, and there are…
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Why the traditional advice model may doom the industry
This article has been taken from the NMP education library which has now moved to Advisely Walker, who’s also a director at advice group WLM Financial Services, argued that the current inflation in asset prices – “and not just by a little bit” – is incongruous with the advice industry’s prevalent faith in passive…
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40% of Aussies may need advice very soon
This article has been taken from the NMP education library which has now moved to Advisely In our latest round of social research done on the effects of COVID, we found that almost 40% of all Australians are facing relationship strain over money – and history would tell us that many of those relationship problems will end…
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Who gets a map in the misconduct maze?
This article has been taken from the NMP education library which has now moved to Advisely If ASIC’s goal is to make its regulatory framework appear less byzantine, though, the latest guidance on advisers’ new breach reporting obligations isn’t doing the regulator any favours. The refreshed obligations expand the…
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Are TikTok finfluencers friend or foe?
This article has been taken from the NMP education library which has now moved to Advisely Over the past few years, so-called “finfluencers” have exploded in popularity on social media. The portmanteau combines the concept of social media influencers – think oft-sponsored travelogues, fashion and lifestyle content – with…
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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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Putting the cart before the horse
This article has been taken from the NMP education library which has now moved to Advisely The AFA believe many requirements under current financial advice legislation, including annual renewal and the use of financial services guides, as “additional layers of bureaucracy [introduced] with little consideration of the…
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The legacy of the Storm collapse
This article has been taken from the NMP education library which has now moved to Advisely. The ALRC’s background paper, Risk and reform in Australian financial services law, addresses the ways in which financial services legislation has failed to adapt to “changes in regulatory philosophies.” This failure, the paper…
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The good, the bad and the banks
This article has been taken from the NMP education library which has now moved to Advisely It’s no surprise, then, that simplification appears to be the overarching objective of Quality of Advice reviewer Michelle Levy’s paper. And many of the recommendations contained therein, such as scrapping SOA and ROA requirements…
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“Good advice” and the spectre of vertical integration
This article has been taken from the NMP education library which has now moved to Advisely If you’ll excuse the unintentional rhyme, that sentence more or less encapsulates one of the most pertinent concerns about the overhauled regulatory model for financial advice laid out in Michelle Levy’s Quality of Advice proposals…
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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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The impossible standard
This article has been taken from the NMP education library which has now moved to Advisely Not long ago, we discussed Michelle Levy’s Quality of Advice review proposals paper and one of the most significant ideas therein – effectively scrapping the best interests duty and replacing it with an overarching obligation to…
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Self interest versus best interest
This article has been taken from the NMP education library which has now moved to Advisely The report contains 13 primary recommendations. These include an expansion of the definition of personal advice – it would cover any financial product advice given on a personal basis by a provider who has information about a…