Shape of advice

Craig Emanuel, Managing Partner at EWL, shares his extensive financial industry insights. He discusses the evolution of investment philosophies, highlighting a shift from Australian equities to diversified global strategies. The importance of behavioral finance in navigating a volatile economy is emphasized, along with lessons from high-profile client experiences. Emanuel delves into building a resilient advisory practice, focusing on client relationships and education, and addresses the trend toward outsourcing investment management and maintaining client trust.

Andrew Bragg, a Liberal Senator from New South Wales and Shadow Assistant Minister for Home Ownership, shares his insights on housing affordability and the urgent need for financial reform in Australia. He discusses future housing policies focused on deregulation and innovative solutions for first-home buyers. The conversation dives into the interplay between superannuation and housing, advocating for reforms to ease the financial burden on citizens. Bragg also emphasizes the critical role of financial advisors in navigating complex landscapes and planning for the future.

Francy Taylor, Executive Director at Colonial First State, and Toby Potter, Chair of the Investment Management Association of Australia, dive into the booming world of managed accounts. They discuss the significant rise in advisor usage from 16% to 56%, fueled by tech advances and custom strategies. The duo tackles the complexities of benchmarking and the importance of tailored portfolios that align with clients’ goals. They also highlight the evolving fiduciary responsibilities, emphasizing the need for personalized interactions in today's dynamic financial landscape.

Matt Lawler, Group Executive Advice at AMP, oversees the transition of major financial planning entities, while Darren Whereat, CEO of Rhombus Advisory, champions the evolution of financial advice. They discuss the transformative impact of the Royal Commission and the strategic spin-offs of major firms. The conversation highlights the need for fiduciary independence and adapting business models to enhance client trust. They also emphasize improving advisor efficiency, the significance of capital investment, and the importance of navigating the evolving landscape of financial advice.

Kelly Power is a prominent advocate for accessible financial services, while Blake Briggs has extensive experience in financial advice reform. They dive into the evolving landscape of financial guidance, highlighting the challenges low-income individuals face in affording quality advice. The conversation also covers upcoming legislative reforms in Australia aimed at increasing advisor availability. They stress the importance of collaboration among stakeholders and discuss the holistic value of financial advice in managing tax, property, and investment needs.

Professional Planner has relaunched Shape of Advice, a podcast series dedicated to the people, policies and processes that will enable future delivery of quality financial advice. In the first episode of the new season, Minister for Financial Services Stephen Jones sits down for an exclusive interview with Conexus Financial editor-in-chief Aleks Vickovich to discuss the Quality of Advice Review process so far, the next steps and the Albanese government's vision for an enhanced financial advice sector. In this wide-ranging discussion, the minister takes us behind the scenes of one of the nation's most complicated and contentious reform projects, explaining where he has been willing to change his position and reflecting on his own performance in a notoriously tough portfolio.