Ensombl Advice Australia

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.xyadviser.com/goalsbasedpodcast Advice Intelligence - https://www.adviceintelligence.com This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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/disclaimer/ This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 to get tickets. Show Notes: Finn Kelly LinkedIn - https://www.linkedin.com/in/finnkelly1/ Wealth Enhancers - https://wealthenhancers.com/ General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 proposition 33:15 – The benefit of integrating cash flow platform into CRM to create complete customer experiences 40:14 – What can Advisers do to speed up tech integration offered by providers Show Notes: Peter Lalor LinkedIn https://www.linkedin.com/in/peter-lalor-4a89aaa/ MoneyBrilliant https://www.moneybrilliant.com.au/ MoneyBrilliant and Salesforce https://youtu.be/UjeJdbV4goE General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by Salesforce (https://sfdc.co/XY). Blaze new trails to richer client relationships with the world's #1 CRM. We designed Salesforce Financial Services Cloud (https://sforce.co/2VHUx2Jto) help you make every interaction personalised through rich client profiles centred on personal goals and pivotal life events. You can nurture deeper relationships with proactive tracking and event alerts that remind you to reach out when clients need you most. Supercharge your productivity by managing client engagements, household relationships, and financial life goals all from the one connected platform. It's the world’s #1 CRM, reimagined for wealth management. We are excited to partner with XY Adviser to discuss how you can build richer client relationships and unlock loyalty.

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 transitioned to a fee for service model 12:00 – What’s the first step to letting go of insurance commissions? 22:45 - Why Advisers are underestimating the cost of providing advice 32:35 – What’s your initial engagement steps with clients? 38:45 – Why you built your own cashflow fintech solution? Show Notes: Scott Farmer LinkedIn - https://www.linkedin.com/in/scott-farmer-57647825/ Bravium - https://www.bravium.com.au/ SavvyApp - https://www.savvyapp.com.au XY ON TOUR Event Info & Tickets - https://co.xyadviser.com/xyontour-podcast XY Adviser Online Training Platform - https://www.xyadviser.com General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 advisers better articulate their value when it comes to insurance? 17:36 – Six key reasons why Advisers don’t get referrals, and how to avoid them 20:41 – Why your clients should be part of your BDM team 35:09 – How advisers can set the expectation of their value to the client 36:36 - The importance of telling a compelling story to your target demographic 40:26 – How to get out of the trap of trying to serve all prospects, and only focus on the ones you can deliver the most value to Show Notes: The SalesROI Methodology Course - http://link.xyadviser.com/deanmannix-salesroi Grow Your Pipeline With Referrals - http://link.xyadviser.com/deanmannix-referrals XY Adviser Online Training Platform - www.xyadviser.com General Disclaimer - www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 how to help your clients who have this 32:25 – Why Advisors need to get creative in changing the perception of advice to the average Australian 47:40 – As an Advisor, do you ever feel like there’s an end date to working with a client? Show Notes: Dare to Lead book by Brene Brown (amazing idea for Advisors) - http://link.xyadviser.com/brene-brown Tribes book by Seth Godin (great for business and getting your confidence to influence and lead) - http://link.xyadviser.com/seth-godin Nudge book by Cass Sunstein & Richard Thawler - http://link.xyadviser.com/cass-sunstein Misbehaving book by Richard Thawler - http://link.xyadviser.com/richard-thawler Thinking Fast And Slow book by Daniel Kahneman - http://link.xyadviser.com/daniel-kahneman XY Adviser Online Training Platform - https://www.xyadviser.com General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (https//www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 thriving business. There are so many nuggets of marketing gold shared in this episode, here are just a few highlights: 7:05 – The power of podcasting and getting your message in front of the right person at the right time 15:40 – Digital marketing vs human marketing. Do marketing cycles exist? Have we come full circle? 20:50 - Why business owners are getting distracted by ‘shiny marketing objects’ and how to avoid the scatter gun approach 30:35 - How long should you test a marketing strategy before analysing if there is a valuable ROI? 36:40 - What are the biggest problems you’re seeing advisors facing in the client experience phase? 46:45 – What is the best way for growing businesses to attract new and sticky clients? Show Notes: Human to Human - https://www.humantohuman.business Screw Work, Let’s Play Book by John Williams - bit.ly/screwworkletsplay The Psychology of Persuasion book by Robert B. Cialdini - bit.ly/psychologypersuasion XY Adviser Online Training Platform - www.xyadviser.com General Disclaimer - www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (http://jo.my/hub24), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 great company culture 35:10 – Why leaders DON’T need to know everything, and the importance of authenticity 39:17 – What is the best thing advisors can do to grow their business? 41:24 – Are advisors using MyProsperity as a lead generation tool? If so, how? XY Adviser Online Training Platform - https://www.xyadviser.com General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (https://www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.

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 importance of dialling down financial jargon and taking it back to basics when educating clients 24:50 - Two techniques you can use to better understand your clients problems 42:28 – What is the most important thing to learn about money? 48:40 – Is your program white labelled? XY Adviser Online Training Platform - https://www.xyadviser.com General Disclaimer - https://www.xyadviser.com/disclaimer/ This podcast is brought to you by HUB24 (www.HUB24.com.au), an ASX listed company with over $10b in funds under management and one of the fastest growing platforms in the market. They believe in connecting advisers to innovative solutions that create opportunity, while delivering an awesome user and client experience. They’re big time supporters of advisers going solo and their BDM team are great to work with. We’re proud to partner with HUB24 - they’re big fans of the XY community and are continuing to help drive the positive evolution of financial advice.