Why innovation is worth fighting for

Vanessa Stoykov,  creator,  No More Practice

I have always been someone that likes to push the envelope in our industry – try different things and test different ways to connect with people.

Some have worked, and some haven’t. But the fact is, only through trying have I figured out what’s effective.

I’m proud to say our latest program is perhaps the highest iteration of innovation we have achieved so far. And I don’t say this lightly. While I know the quality of the content is good, it is the web and backend part of the program that I am really talking about.

Since NMP Education was acquired by OneVue last April, I have been part of a much bigger ecosystem that had the ability to bring much more to the table than just great storytelling.

And while my team at evolution media have gotten on with the job of making great content, Connie Mckeage and her team at Onevue have been building an online experience to match the program, to help ordinary Australians learn more about financial planning, investing, super and becoming self-sufficient.

Perhaps the pinnacle of this innovation is the new way investors can buy into a Mercer-built model portfolio. With only a $2,000 minimum, and a $200-per-month contribution, people can start long-term investing by making an application in two minutes.

Yes, that’s right. No wet signature, and 2 minutes to apply – as long as you know your tax file number and bank account details.

Having invested myself yesterday, I couldn’t believe how quickly the process was done. It’s been a dream of mine for many years to make this industry more accessible to the general population.

This, I believe, is a giant step toward doing that.

Of course, Connie will tell you that it’s early days and we don’t know where it will lead. But for me, having spent 25 years telling the stories of this industry, it’s a giant leap forward to be able to connect people directly and quickly to high-quality investing. And to be able to educate them in a way that’s, frankly, not boring.

We have used celebrity athletes as the stars of the show, but equally the planners and asset managers have a big role to play in educating people on the process. Just as important are my panel guests – the CEOs and experts who lend their personalities and expertise to solving real financial issues and shedding light on ways for our audience to do the same.

In a world driven by compliance and risk management, none of this has been easy. In fact, just saying that is a gross understatement. It’s been incredibly difficult. I am sure that the sheer will and work ethic of OneVue and Connie Mckeage are a big part of why it’s finally ready for the world to see.

It’s been expensive to make. Laborious to build. And the important compliance and sign-off process every step of the way has been incredibly rigorous.

But, after 18 months of very hard work, it’s out there. I would suggest you go and take a look around the site. The OneVue team has done an incredible job of making it user-friendly and educational. The investment section is easy to use and to understand.

So please don't stop fighting to innovate and reach Australians. I know it’s hard and expensive. But without people who are willing to push forward, no matter the obstacles, we are never going to help Australians in the way we should be.

I hope you are enjoying the series. This week is Jude Bolton, and he’s a fantastic person to learn from.

Until next time,


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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