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New year offers opportunities to investors

New year offers opportunities to investors

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By elaina ·
January 05 2017

New year offers opportunities to investors

Several financial advisers have commented that 2017 will present new challenges and opportunities to the industry.

According to Lea Schodel, partner and financial adviser for MHP Private Wealth, there will be more opportunities for advisers to deliver their services through new models.

"There are many interesting models of advice being delivered globally that could easily be adapted to fit our industry and meet compliance requirements here in Australia," she told Adviser Innovation sister title ifa.

"I will be moving to a virtual advice offering in 2017, providing wealth coaching over a 12-month period with clients. This style of advice is more affordable, manageable and less overwhelming for my clients."

Meanwhile, Katerina Sousalis, senior executive planner for Modoras Financial Performance Solutions, believes the challenge will be taking clients beyond "the noise".

"We are all surrounded by noise: newspapers, TV, social media, the internet, the neighbours, the best friend, blogs, podcasts, webinars, eBooks and the list goes on," she told ifa.

"I think the challenge for 2017 will be taking clients beyond the noise, as it becomes increasingly difficult to separate fact from opinion.


"As noise continues to intensify, client education will be become increasingly important. Our challenge is to deliver that education in a way that empowers clients to make the correct financial choices."

On the other hand, Patricia Garcia, financial adviser for WB Financial, told ifa advisers will need to start focusing more on strategy, and less on product.

"As such, the challenge for financial advisers is to increase business efficiencies while simultaneously upskilling themselves to be able to add value through pure non-product related advice," she said.

"In our business, this will mean focusing on clients that require comprehensive advice, as we are unable to compete with (and frankly don't want to) low-cost robo-advice providers."


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