With the launch of our latest series of Future Talk, we had plenty of time to digest the discussions from regulators, industry bodies and politicians. And one message resonated loud and clear: nobody really knows what is going to happen next, and most are just starting to realise the opportunity we have ahead us to make change quickly, and for the better.
Again collaborating with UBS Asset Management, we went about talking to captains of industry around the future of advice and superannuation. Most agreed that there has never been more demand for advice since the pandemic, despite the double whammy of fewer advisers in the industry, dealing with more regulatory change than ever before.
As an adviser, however, it must be gratifying to see how many people have reached out, needing your counsel. And how many more would like to. In the worlds of Dante De Gori, the pandemic has placed advisers squarely on the “frontline” of dealing with the consequences of the virus, as the economic impact has been equal to the health one.
The early release super scheme, issues with liquidity and the need for adviser models to be more affordable were all discussions that showed the future holds uncertainty - for the sector and the individual as we navigate what comes next.
But for those advisers with capacity and a profitable model to serve, the opportunity would be greater on the other side of this pandemic than ever before. There was also a chance to look at the model of our closest neighbour, New Zealand - at the similarities and the differences. With a no travel ban continuing for the foreseeable future, the ties with NZ will only become stronger. And their policy around super being usable for first home purchases has a lot of merit.
So if you are wondering how it will all unfold, and what the biggest issues we face as an industry might be, let Future Talk give you the big picture on what’s happening now, and where it could take us as an industry. It’s far from all bad news, and a great opportunity to think about what comes next, at a time where we could all use a little moving forward.
Enjoy the program.
Until next time,
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