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 Productivity: The next frontier of advice

Productivity: The next
frontier for advice

At HUB24, we believe in the value of advice and that Australians deserve to have access to quality and affordable financial advice. As an industry, we have an obligation to work together to build a strong future for advice and empower better financial futures for more Australians. To do this, we must address the unmet financial advice need – the gap between the estimated 11.8 million Australians who want advice and the circa 15,400 financial advisers currently providing financial advice.1

We’ve joined industry leaders from licensees, privately owned advice practices, advisory firms, wealthtech and business consultants for an industry roundtable to work out how we can better come together to deliver solutions to solve wealth’s greatest challenge.

The solution ultimately lies in leveraging technology and innovation to scale solutions to deliver greater productivity, but the game changer is collaboration. Highlights from this roundtable discussion can be found in a special report generated by our event partner, Professional Planner magazine. We’ve brought together these insights from this event to keep the conversation going on how we collectively can deliver more advice to more Australians.

1Investment Trends 2023 Financial Advice Report

Read special report

Boost your productivity: Insights, ideas, and opinions from industry experts

4th Dec

4 Dec 2024
AI is here, but can it help scale advice?

Artificial Intelligence (AI) can help solve industry challenges and potentially be an antidote to incrementalism, creating an industry wide opportunity

Read more
AI is here, but can it help scale advice?

Artificial Intelligence (AI) can help solve industry challenges and potentially be an antidote to incrementalism, creating an industry wide opportunity

Read more

4th Dec

4 Dec 2024
The three toughest productivity challenges (and ideas to solve them) 

Accessing data, sourcing talent and delivering simple versus complex advice are three top of mind productivity challenges facing our industry.

Read more
The three toughest productivity challenges (and ideas to solve them) 

Accessing data, sourcing talent and delivering simple versus complex advice are three top of mind productivity challenges facing our industry.

Read more

4th Dec

4 Dec 2024
Why collaboration is the x-factor to productivity   

The industry runs the risk of being a niche industry rather than a profession if it can only provide advice

Read more
Why collaboration is the x-factor to productivity   

The industry runs the risk of being a niche industry rather than a profession if it can only provide advice

Read more

4th Dec

4 Dec 2024
Education is an effective pathway to productivity 

Financially educating more Australians before they visit an adviser, could help the industry be more efficient, more cost-effective and meet

Read more
Education is an effective pathway to productivity 

Financially educating more Australians before they visit an adviser, could help the industry be more efficient, more cost-effective and meet

Read more

4th Dec

4 Dec 2024
Tech that is helping advisers now

Technology innovation to date has failed to provide the productivity uplift the advice industry needs to drive transformational change and

Read more
Tech that is helping advisers now

Technology innovation to date has failed to provide the productivity uplift the advice industry needs to drive transformational change and

Read more
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Driving productivity: Audio highlights from industry experts

I think there’s a lot of opportunity for us to keep working and build productivity and get better outcomes for clients and for businesses, regardless of where we are, where we’ve come from and the things that are in our way.

Andrew Alcock

0:25 seconds

AI is going to play a big role in that it’s going to be able to drive some of those efficiencies right now . We don’t have to wait for government changes to do that.

Adele Martin

0:16 seconds

I hope to see in the next few years a lot more investment in services and technology either through the platforms or the major licensees to give those small business owners what they really need to grow.

Peter Worn

0:24 seconds

I think I’ll take a look at some of the different AI’s out there, and we’re piloting one at the moment. I don’t want shut myself off to the opportunity of looking at others.

Lena Ridley

0:09 seconds

There’s a strong sense of collaboration between all industry stakeholders to actually work together on the things that really matter. No one’s really worried about competition anymore. This is an industry that’s growing.

Peter Worn

0:26 seconds

I think the level of consensus on how we increase productivity to benefit the client continues to be a really wonderful thing that we see. But how do we take that consensus and turn that into active collaboration to drive that message forward.

Lena Ridley

0:23 seconds

The industry is collaborating more and more and we’re not looking backwards at the past and the things we had to fix. There’s been a lack of investment today and if we’re going to make a difference we are going to have to collaborate and build it together.

Andrew Alcock

0:13 seconds

We’re trying to solve a growth challenge as an industry rather than worrying about whose share of the wallet or how its going to impact my business or if I win, you lose.

Peter Worn

0:12 seconds

If we really are trying to deliver advice to Australians and give them security or comfort, that we’ve got an obligation to make things more efficient so we can do that. 

Andrew Alcock

0:25 seconds

If we really are trying to deliver advice to Australians and give them security or comfort, that we’ve got an obligation to make things more efficient so we can do that. 

Adele Martin

0:10 seconds

There are different tactics that everybody is deploying, not necessarily using AI as a front end tool, but maybe a back office tool to achieve scalability and efficiency.

Jordan Kennedy

0:17 seconds

In our business, we’re thinking about digital offerings or low cost offerings, and how could technology redraw the landscape rather than incrementally change the way we do.

David Stephen

0:24 seconds

There’s a strong sense of sharing, particularly on things like investment in systems and technology to make sure that no one’s building things in silos. And we’re talking together about those things.

Peter Worn

0:13 seconds

We all think the same way, we’re all doing stuff but can we do it together and get a better outcome? And many of us already are, so let’s keep going that way.

Andrew Alcock

0:07 seconds

Productivity doesn’t have to be at the expense of clients or people within your business, but that productivity can exist hand-in-hand with better client outcomes, better people outcomes and better profit outcomes.

David Stephen

0:47 seconds

Collaborating with licensees and advisers to drive innovation that delivers productivity across the advice industry

We continually enhance our platform, with innovation that delivers more power to you to drive efficiencies, improve transparency, and provide greater flexibility for you and your clients.

  • Award-Winning Platform: recognised as Australias best platform for functionality and service.
  • Market-leading managed portfolio capabilities: Over 15 years of empowering advisers to deliver value for their clients with our award-winning managed portfolio capabilities.
  • HUB24 Present: create interactive, downloadable client presentations with ease.
  • Innovative Platform Functionality: features like tax optimisation and trade netting deliver efficient, tailored solutions.
  • Innovative product solutions that enable your clients to meet their objectives throughout their life stages, including HUB24 Discover and HUB24 SMSF Access

Through market-leading innovation we’re giving you all the power you need to enhance the value of your advice.

Find out more

Streamline client interactions with secure, digital solutions

Efficiently and securely interact with clients online, and obtain signatures for important documents and forms, anywhere, anytime and from any device.

  • Digital Fact Find and Onboarding Forms
  • In-Built Electronic Signatures
  • Live Data Feeds
  • Secure Document Storage
Find out more

Leveraging innovation to solve challenges in advice delivery

Leveraging AI to deliver integrated data feeds, automated reporting, and analytics to drive advice efficiencies and replace the manual, time-consuming and costly processes that increase the cost of advice.

  • Data Integration and Refinement
  • Machine Learning for Unstructured Data
  • CRM Integration
  • Compliance Management Tools
Find out more

With thanks to the participants

Andrew Alcock

Managing Director and Chief Executive

HUB24

Jason Entwistle

Director Strategic Development

HUB24

Jordan Kennedy

Partner

Pitcher Partners

Adele Martin

Founder

The Financial Adviser Scale Squad

Neil Younger

Managing Director and CEO

Entereti

Sharon McClafferty

Chief Executive

Slipstream Group

David Stephen

Chief Executive

InvestBlue

Peter Worn

Co-founder and Managing Director

Finura Group

Lena Ridley

Chief Executive

Profile Financial Services

Darren Whereat

Chief Advice Officer

Rhombus Advisory

Let’s talk about how our market-leading platform can help you.^

Submit your details and one of our team will be in touch.

^ HUB24 was rated Best Platform Overall, Best Managed Account Functionality, Best in Online Business Management, Best in Reporting and Best Mobile Platform in the 2023 Investment Trends Platform Competitive Analysis and Benchmarking Report.