This new initiative will benefit advisers most of all

Vanessa Stoykov,  creator,  No More Practice

As we prepare for the launch of our biggest education initiative in 20 years, I’ve been thinking a lot about who will benefit most from our new program. Secrets of the Money Masters features five celebrity athletes getting a money makeover. The process took over 18 months to film and edit, and I can’t even begin to estimate the hours involved to get this project to market.

The athletes themselves did indeed benefit from going through the process. They now have clear financial plans and goals articulated for their financial lives that will no doubt come to bear via their extraordinary discipline and focus.

Our Money Masters themselves have created some great education around the rules of wealth. It will certainly be of great benefit to these managers to have the public understand more of what professional money management is, and how high-quality the people are who are managing the money and making billion-dollar decisions. The same with the value and necessity for having the right insurance.

Of course the parent company of the program, OneVue, will also benefit. Since the acquisition of NMP Education last April, OneVue has believed unwaveringly in investing in a large-scale project with education at its core. The technology investment behind the Money Masters portfolio, built by Mercer, will see OneVue placed squarely in the direct to consumer space – yet firmly supporting both fund manager and adviser businesses.

But I believe that at the core of this initiative, the biggest beneficiaries of this program will be financial planners. Why? Because this proves, in living colour, the value of advice, and how much it is needed.

I have no doubt that after watching this program, hundreds if not thousands of Australians will want to seek advice. One of my biggest indicators to know how effective our content is, is to watch the reaction of our various crew.

From camera operators to sound engineers, we have had more than 40 creatives working on this project. I can’t tell you how many of them have to come to me asking for an introduction to a planner. By working on this program they got to see firsthand the power of financial advice – and knew they needed to be part of it.

Now, I don’t by any means think we have solved all the problems advisers are facing by creating this show and the extended marketing around it. There is a long road ahead as the industry reinvents itself – I see the next 10 years as a rebirthing process. But I do believe what we have created will build more demand for financial advice than we have seen in some time. My biggest concern is that people won’t know how to find an adviser – and will be unsure of who to trust.

I get asked all the time what people should pay for financial advice, and who should they trust. My hope is that by watching this program and engaging with the attached guides and education, people will move toward advice with more faith in the process, and an understanding that you get what you pay for.

If you would like to attract new clients to your practice, I encourage you to email your contact lists and send out information on the program on social media. It’s one of the biggest independent programs showcasing advice in Australia, and our hope is that high quality financial advisers feel the benefit by attracting new clients who need your help.

After all, if we don’t invest in advisers, then Australians are left to figure out their financials on their own.

I hope you enjoy Secrets of the Money Masters as much as I did making it. It’s certainly been a labour of love.

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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