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XY Adviser

The social network for financial advisors www.xyadviser.com This podcast is to help drive the positive evolution of financial advice. The information provided on the podcast is not intended to constitute legal, business, financial advice or other professional advice. It is provided as general information only and is not intended as a substitute for personal advice from a qualified professional who is familiar with the facts of your particular circumstances. Before making a decision, you should consider speaking with a financial advisor or financial planner.
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Now displaying: December, 2017
Dec 12, 2017

2017 has been a year full of surprises, changes and announcements. We saw a world divided over the inauguration of President Trump, the Australian Government announced a royal commission within the banking sector and cryptocurrencies appear to have become a household term overnight.

For the XY community, 2017 has undoubtedly been the biggest year yet with an increasing presence of nearly 1,500 enthusiastic members driving the positive evolution of financial advice. With the Facebook group evolving into a central intelligence hub for advisers, the podcast getting a professional makeover, a new membership site on its way and events that are now moving out of Sydney and into a national agenda, it’s fair to say that when it comes to XY in 2018, you ain’t seen nothin’ yet!

To reflect on the year that was and to discuss the exciting things ahead; Clayton, Adrian, Ben and Ray all got together to shoot the breeze on things like:

  • The hype around Bitcoin and why people want to invest in something ‘sexy’ (but probably shouldn’t)
  • Ideas and strategies Ben brought back from Fincon and why you should include content within a service based business to stay relevant
  • Everything the XY community can look forward to in 2018
  • Different practices and systems that are working (and not working) in advice businesses
  • What the next toy of financial advice will be in 2018 (did someone say Big Data?) 

…plus loads more and with plenty of laughs!

XY Adviser started when a handful of people got together and asked how they could best serve their clients and the industry they love. Today, the success of XY Adviser is the result of an entire community who understands the value and benefit that comes with sharing knowledge and ideas and supporting each other. 2017 has been great, but we have a feeling 2018 is going to be EPIC!


Enjoy.

Dec 7, 2017

Two years ago we interviewed Cathryn Gross who was just two months into launching her brand new business Twelve Wealth. Two years on from the single most downloaded XY Live podcast ever (watch it here), it was a no brainer that we had to get Cathryn back on the show to follow up and get the juicy on what it’s really like building an advice business from scratch.  

From starting out with referrals from her hairdresser and GP to now working with upwards of 30 really engaged and sticky clients, Cathryn has developed a business model that targets a very specific niche clientele while providing a high level of service focusing on both the logical and emotional value she can add to client’s lives and financial wellbeing.

In this episode both Cathryn and Ben are not shy in opening up about some of the important and often personal aspects of running an advice business such as:

  • Their pricing models
  • Their fee structures
  • Their client exit rates
  • Their referral process
  • Other ways to generate income streams and acquire new clients

…and all with figures included!

Cathryn also explains why she has moved away from the traditional process of trying to implement all of the different elements of a full SOA all at the same time and how she has successfully retained the client’s commitment to fulfilling their implementation obligations by doing this.

This episode is for anyone who has ever thought about taking the leap and going out on their own. This episode is for anyone who already owns an advice business. This episode is for anyone who wants some fresh ideas as to how they can best service their clients. This episode is for everyone in advice.

Take it all in, take notes and enjoy!

Dec 1, 2017

Is this the most useful whitepaper ever produced in Financial Services?

Benjamin Marshan is at the forefront of a digital whitepaper having just been released by the FPA and encompassing months (and months) of research looking at the marketplace relative to Fintech and the Financial Services industry. We have an accidental run-in at Bunnings to thank for the idea which kick started a project analysing over 400 Fintech startups and piecing together a document designed to act as a ‘thought starter’ when looking at practice efficiencies and the advice process.

Ben addresses the obvious pain points being felt by most advisers like which technologies should we be implementing in our practices and questions that perhaps we haven’t even considered – is there a benefit to working with Fintech companies that look to exclude the adviser? Here’s our favourite takeaways from this week’s XY Live:

  • Why it’s important to map out the entire advice giving process within your practice and how to address inefficiencies
  • Ben’s thoughts on advisers being replaced by robots
  • The key area in the advice process that is lacking Fintech
  • Why Ben wants to disrupt the way we present the SOA and how he plans on doing it
  • How ASIC is monitoring new Fintech companies and their duty of care for clients
  • How to decide on which technologies to implement into your practice

With chapter titles such as ‘Do you know how to Fintech’, this interactive digital whitepaper is chock-a-block full of useful information, tips and advice which you can implement into your practice now and evolve into the future. Don’t worry, there is also a paper version available here which can be downloaded, saved, opened, printed, stapled, read and then probably lost in amongst all the other paperwork floating around your office. Or, check out the digital version here and experience interactive technology in the way your client’s may just be able to do so with your advice presentation soon.

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