Why the US election reflects our reality

Vanessa Stoykov,  creator,  No More Practice

I have not seen an election garner more attention in my lifetime. Not just attention, but hardcore passion to the point of obsession for many. 

I have to say, I have not been one to follow it too closely. But what I have followed is how people are talking about it; how they are behaving and their emotional state when talking about it. 

This election is charged with emotion. It is charged with people on very different sides of politics both believing vehemently that their cause is one that is just. Has there ever been a time when people have talked about ideology more? About leadership? About what’s important for the future?

This election is a reflection of the uncertainty we as the human race are facing at the moment. This is a point in our evolution where things are changing quickly: how we live, how we work, where we go. These are all fundamental things we didn't question before COVID-19. The current political climate is a reflection of our very divided world - and where we go from here is yet undetermined.

Things in our industry have changed phenomenally too. When I started No More Practice over 10 years ago, there were institutional buyers lining up to buy profitable practices with good contracted revenue streams. Fast forward to today and we are tallying up how many advisers are leaving the industry for good, and those that remain, along with the regulators, are grappling with how to provide affordable advice to Australians who desperately need guidance.

But in all this there has never been more opportunity for focused advisers. Becoming a trusted guide for people as they create their new financial pathway, and to talk about it, has the potential to help many more than we could before. More people will be getting advice. We should be encouraging them to share their experiences. 

Our latest season of Secrets of the Money Masters shows real Australians who aren't getting advice, and the effects COVID-19 has had on their finances. We believe talking about the financial problems people face is critical to help people understand how valuable financial advice can be, and why it is such a critical part of people’s budgets.

So while the madness of elections and borders may be part of your daily news cycle, take some time out to meet a couple who have created wealth without an adviser, but really need one now.


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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