money money money
750 adviser red flags, finfluencers, financial advice as a career + what would you do with $20k
Dec 9, 2024
Nicole Gardner, known as TheRealMoneyMama on TikTok, brings her engaging insights on financial advice, joined by aspiring advisor Hannah Elliot and seasoned pro Bec Pritchard. They discuss the crucial red flags to watch for when hiring an advisor and the importance of personal relationships in finance. The trio emphasizes the impact of social media in the industry and reflect on their rewarding experiences. They also tackle how to think strategically about a $20,000 investment and share some light-hearted holiday gifting stories that challenge consumerism.
55:05
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Quick takeaways
- The demand for financial advice in Australia is increasing, yet the number of advisors is dwindling, creating a significant gap in the industry.
- Emerging younger advisors leverage social media to improve financial literacy, shifting towards more relatable and accessible educational methods.
Deep dives
Rising Demand for Financial Advisors
There is a significant and growing demand for financial advice in Australia, with over 1.2 million Australians seeking guidance in the coming years. Despite this demand, the number of financial advisors in the country has dramatically decreased, dropping to around 15,000 over the past five years. This creates a gap that needs to be filled, emphasizing the importance of increasing access to financial advice. New and unconventional financial advisors are emerging, highlighting the changing landscape of the industry and the necessity for innovative approaches to meet the needs of the public.
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