In Practice

It’s not a corner office or a fatter pay packet at the top of paraplanners’ collective wish list, but something that is much more beneficial to financial advice practices and the clients they serve.

The potential for artificial intelligence to aid the delivery of financial advice is being recognised globally, and should lead to a “redefinition” of the sector according to commentators.

As the world turns towards critical minerals like lithium to power electric vehicles, alternative access to investment in these sectors will become crucial pieces of the supply chain puzzle.

Even though there are thousands more HNW investors in the country this year, they are a lot less willing to pay the going rate for financial advice according to Praemium and Investment Trends.

It’s not just money being thrown at financial advisers, with title changes, more responsibility and “other added benefits” also on offer according to financial services recruitment teams.

When Invesco Global Consulting asked advice clients if they were having ESG conversations with their advisers, three specific investor groups stood out.

When an industry full of Gen X and Baby Boomer advisers is assigned the task of training swathes of largely millennial acolytes, there’s bound to be a few bones of contention according to Brisbane adviser Jaxon King.

Financial advice practices will find it harder to grow and scale their businesses in an increasingly tech-driven world if they aren’t making smart technology decisions, says Finura’s Peter Worn.

There are now an average of 120 clients per adviser in Australia – a number not seen since 2013. While the declining adviser cohort is a factor, so is the improved experience of advisers with technology according to researcher Investment Trends.

Praemium’s Matt van Dijk sat down with Brisbane adviser Francis Rigby to talk about the most commonly unmet advice need in the country. Talk about values with your clients, Rigby said, and the rest will follow.

While finding that more research is needed to determine if the “definitions, metrics and formulas” used to calculate levies remain fit‑for‑purpose, Treasury was able to determine that advisers should no longer benefit from discounted levies.

ChatGPT presents an inflection point in the quantitative investment journey, writes Michael Kollo, one that doesn’t need the presence of machine learning scientists or investment in costly data acquisition.