Shownotes Transcript
Clayton Daniel of XY Adviser in Australia joins the show to discuss driving the positive evolution of financial advice in Australia and around the world.
Episode Notes Australia has gone through massive regulatory changes in a short amount of time and while the current road is bumpy, the outlook is positive and the bar of financial planning professionalism is being raised.
You’ll Learn
- Why almost 20% of financial advisers have left the industry in Australia over the last 12 months
- What a Royal Commission is and what it could mean if something similar happened in your country
- The journey and growth of XY Adviser and its resilient community
- How transitioning from commission-based advice to fee-for-service can benefit your clients
- Why the licensing structure in Australia creates a challenge for technology to serve advisers
- The value of creating a strong marketing campaign up front and using it to weed out the clients you don’t want
- The cost of starting an advice practice in Australia (it’ll blow your mind!)
- The challenges and opportunities for aspiring financial advisers in navigating the rapidly shifting landscape in Australia
Guest Bio Clayton Daniel is an Australian-based former tax accountant and financial adviser, author of Fund Your Ideal Lifestyle and Managing Director of XY Adviser, which is focused on driving the positive evolution of financial advice through their social media platform for financial advisers and aligned professionals to learn and share from each other.
Resources and Terminology
- Clayton Daniel’s LinkedIn)
- XY Adviser Website)
- XY Adviser Twitter)
- XY Adviser Podcast)
- Ben Nash, Pivot Wealth)
- Clayton’s Book: Fund Your Ideal Lifestyle)
- FOFA: Future of Financial Advice
- ASIC: Australian Securities and Investment Commission
- SOA: Statement of Advice
Full show notes and transcript at: innovatingadvice.com/001)