In this episode of The ifa Show, host Keith Ford is joined by Conrad Travers, director and principal consultant at Tangelo Advice Consulting, to discuss the ATO’s final determination on tax deductibility of advice fees and how advice firms can put the changes into practice to benefit their clients.

Travers explains how the new guidance works, what has changed from the draft determination that was released last year, and why it is important to work alongside accounting professionals to ensure the best outcomes for clients.

Listen as they discuss:

• Why advice firms need to identify areas of friction in their processes to enhance their operational efficiency.
• How to get your practice ready for the changes coming out of the first Delivering Better Financial Outcomes (DBFO) legislation.
• What to expect from the second tranche of DBFO and why you shouldn’t rely on regulatory change to improve your practice.

In this episode of The ifa Show, host Keith Ford is joined by Dr Ben Neilson, a financial adviser from Complete Wealth, to discuss a new framework for advice – developed through his recently completed PhD – focusing on six critical barriers: professionalism, trust, engagement, comprehension, costs, and serviceability.

Neilson discusses the role of technology in improving efficiency in the advice process and the need to outsource administrative tasks to increase client capacity and reduce the cost to serve.

Listen as they discuss:

• The key barriers impacting financial advisers.
• How firms can act to reduce the cost of advice.
• The perception of financial advice as a profession.

In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by specialist financial adviser Nathan Fradley to discuss the growing importance of aged care advice in Australia as the population gets older, and the need for specialised knowledge to successfully handle complexities of Australia’s aged care system.

Fradley discusses his journey to aged care advice, the challenges of navigating complicated relationship dynamics, and what can happen when people receive incorrect advice.

Listen as they discuss:

• The emotional side of aged care advice.
• Unique challenges of advising clients on aged care and retirement.
• The evolving landscape of aged care legislation.