Xy Adviser Podcast - Driving The Positive Evolution Of Financial Advice

What if we told you Cara Brett, the Director and Adviser of Bounce Financial, attracted 30 new social media followers, received 10 enquiries and turned 6 of those enquiries into new clients, and all from one Instagram post? Does this motivate you to re-think your social media strategy? Cara insists she’s no social media guru or influencer, but she is consistent and authentic. She uses her social platforms to build trust with her audience long before ever having any initial conversation with them. This is an awesome episode, with Cara sharing what she’s been doing in the client acquisition space, how she’s using Instagram like a blog and why she’s feeling optimistic about the future of Advice. Episode highlights: 3:15 – What’s it like running a business with your husband? 11:30 – Where are your new clients coming from? 13:09 – How are you using Instagram? 18:20 – How are you using Facebook? Who are you attracting with this medium? 22:30 – Why you need to be consistent on social media 32:30 – How do you feel ab

It’s one thing to recognise Financial Abuse, it’s another to know how to handle it as a Financial Adviser. Does your licensee have resources to help when you see signs of Financial Abuse? If you’re self-licensed, do you have a strategic plan to support your Advisers and clients? Amanda Cassar is the director and Advisor behind Wealth Planning Partners and Trusted Aged Care Services. When it comes to Financial Services, she thinks globally but acts locally and is super passionate about raising financial literacy levels. She’s so versed in the uncomfortable topic of Financial Abuse, she’s putting together a course together for the XY online training platform. Episode highlights: 2:45 – How you came to become so involved in financial abuse 5:14 – Signs of financial abuse 15:10 – What can Advisers do when they recognise financial abuse? 17:58 – Amanda’s course for the XY training platform 21:30 - When to refer to an Aged Care specialist and why Show Notes: Amanda Cassar LinkedIn - https://www.linkedin.com/in/ama

The #1 thing we’ve noticed Advisers in the XY Community love more than anything, is hearing what other Advisers are up to in their business. If you: -Have recently gone out on your own as a Financial Advisor -Are contemplating taking the leap of faith into self-employed life -Want to hear what other Advisers are doing in their business and career… …you’ll love this conversation with Grant Millar from Inspired Financial Planners. Grant joined the XY Community around the time he decided to set up his own advice business. He leans on the XY Community for support when he has a question and continually provides a tonne of value to others. Episode highlights: 2:05 – How you started your business from scratch 5:00 –The power of the XY Adviser Community 11:25 – Overcoming the ‘sales’ stigma as an Advisor 16:20 – Giving clients a new-found confidence with a cash flow offering 25:40 – What would you do different if you started again? 30:45 – How you found your niche 43:00 – XY Adviser advocating for tax deductible advi

A question we’ve been asking often is how do we make Financial Advice irresistible? We know the value that comes from having a great Adviser in your corner – so how are we articulating this as an industry to everyday Australians? Vanessa Stoykov from Evolution Media is doing just this by blending her love for storytelling with a desire to educate people on the power of sound Financial Advice, and it’s making an impact. Her debut novel ‘The Breakfast Club for 40-somethings’ and latest TV series ‘The Secrets of the Money Masters’ are just two items in her toolbox of strategies designed to highlight how important Financial Advice is and ultimately encourage more people to engage a great adviser. Episode highlights: 6:35 – Believing in the power of Advice 6:50  –The Secrets of the Money Masters 15:40 – Is the face-to-face business model dead? 17:50 – Unintended consequences of the Royal Commission 28:05 – Financial coaches and charging retainers Show Notes: Vanessa Stoykov - https://vanessastoykov.com Vanessa Sto

Modern Advisers don’t use videos to sell their services, they use videos to highlight the feeling and emotion their services evoke. They use videos to build trust, and it’s working. Nick Lennox is the creative brain behind Udeo video and media. He works closely with Advisers helping them generate high quality content, convey their message and showcase their unique point of difference. Episode highlights: 10:05 – Why being in front of the camera can help you understand your why 12:55 – The power of client testimonial videos 15:45 – The most effective Adviser videos you’ve seen 25:10 – How to get comfortable in front of the camera 27:13 – How to repurpose and leverage client testimonial videos 31:00 – The mere exposure effect to build trust and credibility before a first meeting Show Notes: Nick Lennox LinkedIn - https://www.linkedin.com/in/nickjlennox/ Udeo Video & Media - https://www.udeo.com.au/ General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by Salesforce (https

Are you a Financial Adviser who wants to better understand Money Coaching and how you can incorporate this as part of your value proposition? What if you had the tools and skillset to help clients overcome a negative relationship with money? Lea Schodel fully transitioned from Financial Adviser to Certified Money Coach in June 2018. She’s the yoga teacher, wellness coach and creative entrepreneur blending health and financial wellbeing through her location independent business Mindful Wealth. In this episode, Lea shares her journey and explains how she’s using Money Coaching to help people take ownership of their financial decisions. Episode highlights: 9:45 – How are you blending yoga and financial coaching? 10:40 - Choice architecture and taking ownership of decisions 22:00 – Why there’s no scope for innovation in the current advice industry 27:40 - How can Advisers add money coaching to their offering in an over-complaint industry? 32:15 - What does your money coaching process look like? 44:30 – Understand

In the startup world, adversity is a given. We always hear about successful businesses, but we rarely hear about the stressful and often volatile journey they undertook to get there. Rohit Bhargava is the voice behind The Startup Playbook Podcast. He’s also seen both failure and success in his own business ventures. In this episode, Adrian from XY and Rohit explore the many facets of startup life including tech, relationship building, the power of community and overcoming adversity – all of which can be attributed to life as an Adviser or as an Advice business owner. Episode highlights: 8:20 – New ways of engaging your client base and prospects 11:40 – Some of the most interesting startup guests you’ve had on the show 19:20 – How adversity in business presents an opportunity 24:42 – The power of community when faced with adversity in business 27:53 – Relationship building versus transactional conversations Show Notes: Rohit Bhargava - https://www.rohitbhargava.co The Startup Playbook Podcast - https://www.sta

How are Financial Advisors articulating deep client conversations in their advice documents? What if we scoped advice on a client’s goals rather than advice related only to product categories? These questions and a whole lot more are thoroughly discussed in this podcast with Fraser Jack, host of the Goals Based Advice Podcast. Fraser explains the interesting power dynamic he believes exists between Advisor and client, and why Advice businesses are ultimately relationship businesses. Episode highlights: 12:50 – How can tech help the advisor and consumer relationship? 14:49 – Scoped technology helping with Adviser productivity today 20:08 –The ability for clients to co-create their advice with the Advisor 26:14 – Articulating deep client conversations in an advice document 27:41 – Opinions and biases affecting client conversations 30:40 – Scoping advice on client goals instead of products Show Notes: Fraser Jack LinkedIn - https://www.linkedin.com/in/fraserjack123/ The Goals Based Advice Podcast - http://co.xya

As Financial Advisors and paraplanners, how can we best capture a client’s lifestyle or intangible goals in a compliant SOA? With over 10 years’ experience in Financial Services, Hayley Knight is the ideas woman and work life balance advocate behind Contract Paraplanning Services. She’s a firm believer in the power of communication and relationship building when it comes to outsourced paraplanning and has plenty of great ideas to share in this chat with Adrian. Episode highlights: 2:45 – Articulating clients' intangible goals in a compliant SOA 8:00 – Is there any correlation between more compliance and better advice? 11:45 – Using tech to evolve the traditional and stagnant SOA 27:10 – How Hayley is getting paraplanners more involved with Advisers and the associations 32:35 – The advice process which produces the best SOAs Show Notes: Hayley Knight LinkedIn https://www.linkedin.com/in/knighthayley/ Contract Paraplanning Services https://www.contractpps.com.au/ General Disclaimer - https://www.xyadviser.com/d

Micro-niching as a Financial Advisor; what is it and will it change Financial Services as we know it? Finn Kelly of Wealth Enhancers and Clayton Daniel of XY Adviser discuss the power of behavioural coaching and why Finn strongly believes ‘lifestyle planning’ is no longer just optional, but should should be an essential part of an Advisor’s value proposition. Wealth Enhancers are hosting their (possibly last) Coaching Academy in a few weeks (6-8 May in Sydney). There’s still time to register and learn how to become a great coach for the biggest demographic of people in the world: Info: https://wealthenhancers.com/coaching-academy/ Tix: https://wealthenhancers.typeform.com/to/vJRIDU Episode highlights: 5:00 – Behavioural coaching and being a lifestyle planner 7:00 – Micro-niching 11:30 – What kind of tech are you using now compared to 5 years ago? 16:45 – It’s less about being an Advisor, and more about being a brand 29:00 – How did you upskill in behavioural finance? 30:30 – The WECA academy; what is it, how

When asked whether technology will enable or challenge what Advisers do and how they service their clients, Peter Lalor (CEO of Money Brilliant) sums it up brilliantly when he says that tech will no doubt change what Advisers do, but this change will also bring with it fantastic opportunities. So if technology can be an enabler for Advisers, how can we make sure we’re utilising a suite of tech products which best compliments our unique value propositions? This episode is for the Adviser who wants to better understand the opportunities tech presents and how it can be used to give a sophisticated and intelligent client experience. Episode highlights: 7:40 – How Peter is teaming his professional career in Financial Services with his love for tech 16:10 – Open banking: Friend or foe? 18:00 – The consumer data right in Australia. What it is, how it affects our clients and the opportunities it presents. 28:40 – How Money Brilliant is doing the heavy lifting for Advisers who incorporate cash flow in their value prop

There’s no denying uncertainty within Financial Services is at an all-time high. However, in light of this, Scott Farmer of Bravium believes this is a golden opportunity for Financial Advisers to re-evaluate their business models, think about how they can add and articulate their value to their clients and continually evolve. He doesn’t for one minute think it will be easy, but he’s confident it will be worth it if Advisers are to continue making a meaningful difference to clients lives and build profitable businesses. Bravium has been supporting a fee for service model since 2009. Taking a totally holistic approach, Scott and his team will not take on new clients who are only looking for specific transactional advice. This episode is a deep dive into Scott’s value proposition and the process he has built to ensure his team are continually going above and beyond for their clients. Episode highlights: 4:10 - How industry uncertainty is prompting Advisers to re-evaluate their business models 6:15 – How you tran

Are you an insurance adviser who will be affected if the removal of insurance commissions goes ahead? If the RC’s final report has given your confidence a hit, Dean Mannix (LinkedIn:/deanmannix) of SalesITV (https://www.deanmannix.com) is here to remind you of the valuable work you are doing and why he believes you should absolutely be remunerated accordingly. This episode hits the proverbial ‘nail on the head’ on many topics, and there are so many incredible nuggets of information shared which relate directly to Advisers and how they can do their best work. Dean Mannix is the undisputed expert when it comes to customer centric sales. He has taught sales in over 28 countries and to some of the smartest people in the world. Dean has also created two courses on the www.xyadviser.com training platform, and both expand on everything he talks about in this episode with Adrian. Episode highlights: 5:26 – Why Dean supports insurance advisers being compensated via commissions for the hard work they do 9:46 – How can

Which areas of the Financial Planning process do you really enjoy? What if you could eliminate the areas of Financial Planning you don’t like, and focus on the ones you enjoy most? Well, that’s exactly what Amie Baker (LinkedIn: /amie-baker-10975828) of Rekab Advice (https://www.rekabadvice.com.au) did. Amie realised being her client’s active investment manager was not how she could provide the most value, so she made a conscious decision to outsource all areas of FP she doesn’t enjoy, to focus on what she does best - helping her client’s articulate what they want out of life and tailoring a financial plan to help them get there. This is a great episode for anyone who wants an insight into what one successful adviser is doing in her business. Episode highlights: 12:30 – How has your life experiences helped you as a Financial Advisor? 18:41 – The elements of Financial Planning Amie has outsourced and why 22:50 – What did you do to get better at behavioural finance? 27:48 – The scarcity mindset with money, and

Are you a Financial Advisor who needs to implement a marketing strategy from scratch? Have you dabbled in the marketing game across different social platforms, but not sure if you’re seeing results? Do you want to know THE magic formula to creating the ultimate marketing strategy for yourself or your Financial Advice business? Well, we hate to be the bearer of bad news but unfortunately there is no magic formula or cookie cutter approach to nailing the marketing game as an advisor (sorry!). However there ARE several strategies you can use to determine the kind of marketing approach best suited to yourself or your business, and it all starts with delivering a great…. client experience. Michael Back (LinkedIn:/michaeljback) is the business coach, customer experience and marketing expert for Financial Services. His company Human to Human (https://www.humantohuman.business) works closely with advice businesses helping them create a win-win-win situation; which includes an aligned team, happy clients and a thrivin

It seems most Financial Advisors are no longer of the mindset that Fintech is going to replace them, but rather complement them and their value proposition for clients. So if this is the case, surely the question then has to be - how can Advisors leverage the power of Fintech in a post royal commission world? Chris Ridd (LinkedIn: /chrisridd) has an impressive career history in tech. After working at Microsoft for 15 years, he then took on the role of CEO at Xero and led the growth of the company from a handful of employees to over 300. Now, he is part of the executive team at myprosperity (https://www.myprosperity.com.au) and believes the key for an advisor to not just exist, but to flourish in a post RC world, is to first help their clients feel like they’re in control. In this episode you’ll learn: 4:22 – The three elements Chris looks for in a sound startup. 12:44 – What’s the key for an advisor to not just exist, but to flourish in the next 5- 10 years? 31:00 – How to be an effective leader and drive a g

A question the Financial Advice industry has been asking for a long time is - how do we attract the 80% percent of people who do not seek advice? To tackle this problem head on, Paridhi Jain (LinkedIn: /paridhi-jain) instead started asking - how can I educate people on money fundamentals and enable them to progress to a point in their life where they can afford to engage the services of a Financial Advisor? Enter Skilled Smart (https://skilledsmart.com.au). Before Paridhi founded Skilled Smart, she spent a lot of time talking to both potential students and financial advisors to better understand their problems and how she might be able to bridge this gap in money education. Through Skilled Smart, Paridhi has developed a six week program and partners with finance professionals to teach and help adults navigate their way around the ‘money game’. In this episode you’ll learn: 4:30 - What inspired you to start Skilled Smart? 14:53 – What are the other options for those who can’t afford advice? 20:50 – The importa

There’s a new wave of Financial Advisors emerging. They’re courageous, they’re status quo disruptors and they want to deliver great advice with purpose. And when it comes to purpose-driven advice, there’s arguably no one more determined than Tristan Scifo (LinkedIn:/tristanscifo) - the financial advisor, mentor and coach behind Purpose Advisory (www.purposeadvisory.com.au). Tristan is a proud optimist and passionate ‘equipper of people’ who helps clients discover a deeper understanding of themselves, identify their purpose and mould a wealth creation strategy to suit. He was also one of the 400 Dover Financial Advisors who were abruptly left without a license back in July 2018. So how did he bounce back from this challenge, and what has he been up to in his business? You’ll learn about this and much more over the next 45 minutes. Episode highlights: 3:30 - So Dover collapsed and you lost your new license. What did you do next? 12:14 - How are you blending fulfilment retreats with Financial Advice? 24:21 - Wh

Most Financial Advisors know how to deliver amazing advice to their clients, but have absolutely no idea how to market themselves to new or existing clients. There are however a select handful of Advisors who truly understand the power of content marketing and use this as a tool to engage and educate their client base while maximising every opportunity to attract new and sticky clients. So, which advisor are you? Or a better question might be, which kind advisor do you want to be? David Barbeler (LinkedIn:/davidbarbeler) and Thea Cowie (LinkedIn:/theacowie) are the brains behind 99Content (www.99content.co), a white label content subscription service specifically for Financial Advisors and Mortgage Brokers. They’re helping Advisors deliver punchy and digestible content direct to their clients, leaving them more time to do what they do best - give great advice. Here’s what you’ll learn in this episode: 8:15 – Why is content creation such a powerful form of marketing? 9:00 – How are you nailing the process of g

“Is the licensee creating the right environment for the adviser to do their best work in the best interests of the client?” You’ll hear the above quote delivered by this week’s guest, Mark Hoven (LinkedIn: /markhoven) - CEO Wealth at Adviser Ratings. You’ll also hear why this particular question is part of the reason Adviser Ratings are now looking to roll out a rating system for licensees within the Financial Services industry. Mark’s professional career is an impressive (and mixed bag) of engineering, stock broking and corporate finance. Though it’s his current role where he really shines, leading a growing and highly responsive startup team. In this episode you’ll learn: 8:53 – Why you can be truly responsive as a scaling startup. 13:18 – How Adviser Ratings are becoming a bridge to the industry between consumers and advisers. 19:20 – The limitations advisers face with licensees in delivering their best work to clients. 22:09 – Will a lack of uncertainty remain if there is a change of government? 26:01 – H