The financial advice industry stands at a pivotal moment. The vast majority of Australians still don’t receive financial advice, and with $3.5 trillion set to move between generations in the next two decades, the next five years will be critical in shaping a new era for the profession.
Are you ready for the new era?
Advice, evolved: A new era in Australian financial advice, a whitepaper by intelliflo, outlines seven transformative trends set to revolutionise financial advice.
Featuring insights from industry leaders, our whitepaper visualises how the financial advice sector will need to articulate its value and purpose to a growing pool of potential clients amid the largest intergenerational wealth transfer in history.
7 trends set to revolutionise financial advice
1. Changing the perception of advice
Addressing misconceptions and educating consumers about the true value of financial advice.
2. Adopting consumer-friendly payment models
Embracing new, customer-centric payment options.
3. Technology as the foundation
Incorporating technology to slash costs, give clients flexibility and future-proof advice businesses.
4. The next frontier: an adviser-led system
Creating an adviser and client-first model, which proactively advocates for clients’ best interests through self-regulation and product design.
5. Reaching more Australians through scale
Leveraging reforms, M&A activity, and super funds’ entry to expand financial advice services and provide greater access to millions.
6. Building a whole-of-life pathway
Reaching consumers at critical life stages to ensure they are prepared for the future with quality advice.
7. Engaging young people
Preparing for the biggest intergenerational wealth transfer in history by ensuring young people can engage with advice in a way they choose to.
Key contributors
The whitepaper is the product of a dynamic roundtable, featuring seven esteemed participants representing technological innovation, policy, advice and consulting.
Nick Eatock: CEO, intelliflo
Adele Martin: Founder, The Financial Adviser Scale Squad
Angus Woods: Founder, Adviser Ratings
Peter Worn: Managing Director, Finura Group
Clayton Daniel: CEO, Ensombl
Keddie Waller: Financial Services Policy Advocate
Nick Topham: Founder, ProductRex
Why download this white paper?
Gain insights from industry leaders and innovators.
Discover actionable strategies to future-proof your advice practice.
Learn how to integrate technology to enhance client relationships and business growth.