The world has changed – have you?

Vanessa Stoykov,  creator,  No More Practice

This pandemic has changed everything, especially money. For the first time in our lives, there is the sort of uncertainty around the future that we have never experienced. Even though certainty in life is an illusion, we have wrongly believed that the future might go the same way as the past. 

But it won’t, and we now know that the future will look nothing like the past. Some jobs and businesses are gone forever, and many people across the globe are now facing the task of reinventing themselves and their income. 

As they do this, there is going to be a greater need than ever before for a trusted adviser who sees them through their changing lives. In fact, the advice profession has been fast-tracked by this pandemic to become as trusted as the family doctor, and definitely needed by every generation.

So how do you skill up for these needs while keeping up with the everyday? I know education standards have risen, and you have exposure to a variety of learning that is a necessity in your profession. But what about dealing with those bigger, human issues with clients: the high emotions of financial pressure, aged care issues and the ever-changing problems people will be faced with as we come to learn the true cost of lockdown globally.

The most effective way I learn is by watching others. I either decide I would like to be like that, or I don’t want to be like that. But either way, I am shaping my own way forward as I watch them. I’d like to invite you to do that with our latest series of Secrets of the Money Masters. We have filmed three everyday Australian families and been able to capture their financial aspirations before COVID-19 hit, and then follow up after. All three have drastically different scenarios to choose from moving forward.

We have invited some of our regular advisers back on the panel, and have our money masters commenting on diversifying with new investment opportunities. But the human impact of COVID-19, and the way forward based on that, is so closely tied to the advice strategies these people need. It really shows the benefits of good advice in a very short space of time. We have not ended with absolute and final advice strategies - their stories are ongoing and so are their advice needs.

So tell us what you think as you go through the series. What advice would you give? What have our experts missed? What should our families be thinking about? We would love you to be part of this, particularly via our social channels.

As always, this show is a tribute to the incredible work financial planners do every day. So enjoy the show. I hope it inspires you to think about issues you and your clients will be facing into the future. We are on the journey with you.


The opinions expressed in this content are those of the author shown, and do not necessarily represent those of No More Practice Education Pty Ltd or its related entities. All content is intended for a professional financial adviser audience only and does not constitute financial advice. To view our full terms and conditions, click here

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