How Will Quality of Advice Review Proposal Papers Affect Advisers and Clients? | Episode #20

Welcome to The Future Financial Adviser, where our mission is to make advice accessible to more Australians. On the show we discuss the latest digital platforms, best practices, and evidence-based investing strategies, to give financial advisers the tools they need to help more investors improve their financial well-being. In today's episode, I discuss some important key points from Michelle Levy's Quality of Advice Review Proposal Paper and how these things will impact both clients and advisers. Some topics I talk about are best interest duty being replaced by good advice duty, using technology to access quality advice, general advice being gone, and so much more.So, make sure to tune in to this episode of The Future Financial Adviser Podcast!If you’re ready to modernise your financial advisory business and reach a new generation of investors, then this show is for you! If you’ve been enjoying the show, please make sure to share it with your network and leave a review on your favourite listening platform.Episode Timestamps:00:00 - Intro02:14 - Today's Financial Review03:43 - Look for an Accountant Who Works with Businesses and Accounts04:41 - Good Advice Duty06:41 - General Advice Gone08:09 - Using Technology to Access Good Quality Advice10:16 - The Treasury Quality Advice Review11:51 - Summarisation12:17 - OutroAbout Our HostNigel Baker is the founder of Scientiam.com.au, built by advisers for advisers to simply help advisers engaged with digital to help more people.Scientiam is unique in that it believes advisers have an important role to play in educating and guiding clients. However, because of time and legislation, it is hard to help everyone and not everyone needs comprehensive advice.In his private client business, Nigel and his team faced the problem of wanting to help people without turning them away - they looked for a solution and could not find one, so they built Scientiam.Nigel has two decades of experience in the wealth management industry, having worked for some of the largest global institutions, and was a partner in one of Australia’s largest Accounting and Financial  Advice groups. He is also the author of ‘The Super Secret’ which uncovers the truth about how to invest successfully. Nigel is passionate about helping others understand money better so that they can achieve what is of utmost importance to themselves and their families.Connect with Nigel:Visit the Scientiam website: https://scientiam.com.au/Follow Nigel on LinkedIn: https://au.linkedin.com/in/nigel-baker-b25662 Follow Scientiam on Linkedin: https://au.linkedin.com/company/scientiam-investment Follow Scientiam on Facebook: https://www.facebook.com/fullscientiam Follow Scientiam on Instagram: https://www.instagram.com/scientiam/Thanks for listening, we would love your feedback and please hit like and subscribeWant more content on super, visit scientiam.com.au You can also attend our weekly zoom classes on all things super - simply register on our website