PROGRAM

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Tuesday September 21


11:05
BREAK
Break
11:45
AFA Policy and Professionalism Update
Phil Anderson, General Manager – Policy & Professionalism, AFA
Evolve Your Profession
12:25
LUNCH BREAK
Break
12:45
Life Insurance CEO Panel
Panel
Evolve Your Business

Life insurance, like financial advice, has gone through a very tough period, with intense profitability pressure, substantial premium increases and intense regulatory scrutiny. The future continues to look uncertain, with declining adviser numbers, falling new business volumes and changes in market dynamics. Whilst risk specialists continue to see a vibrant future for life insurance, are the generalists starting to walk away, as it becomes increasingly more difficult to make this a viable business line? In this context, how do CEOs of the big life insurers see the future playing out, and what do they intend to do to return life insurance to a position of strength?

Session Moderators: Phil Anderson & Sam Perera

Session Panel Speakers
14:05
Investment debate: Active vs Passive
Panel
Evolve Your Technical Knowledge

Risk tolerance and short and long term goals are essential when choosing investment strategies for your clients. Cost is also a critical consideration. Advisers have a lot to consider when selecting an investment strategy that suits the needs of each client. For some it is very much all about beating the market, whilst for others, minimising cost is the primary objectives. For many it is a combination of both. Hear from experts on either side of the active vs passive investment debate and gain greater insight into their current thinking and strategy.

Session Panel Speakers
14:45
BREAK
Break
14:55
How Future Ready is Your Business?
Evolve Your Business

In this COVID VUCA (Volatile, Uncertain, Complex, Ambiguous) world we are operating in, the only constant is change. In order to build a successful, sustainable, and valuable Financial Planning business that is ‘Future-Ready’, we need a plan that enables us to conquer the chaos and take the ‘best practice’ of today and incorporate it with the ‘best thinking’ of tomorrow to succeed, and doing that together, is always better than doing it alone.

Advisers make plans every day for their clients, and yet if we look at the latest Business Health statistics, it shows that only 34% of Advisers have a business plan. And those who do, and report on it monthly or quarterly, are 89% more profitable than those who don’t. Now’s the perfect time for Advisers to update their plan, because it provides clarity, confidence, control, and a ‘profitability edge’.

In this session, Cate and David will discuss the key considerations in each area on the one-page roadmap that every Financial Planning Practice should consider for their strategic plan, to mitigate risks, maximise opportunities and position themselves, their people, and their business for the future. Advisers will walk away with a Roadmap that can be implemented immediately into their business.

Session Moderator: Cate Americano

Learning Outcomes & Business Tools:
1. A one-page Strategic Roadmap Template
· Vision | Mission | Values
· Financials | Foundations | Metrics to measure
· Clients | CVP | Marketing | Partners
· Compliant Systems | Processes | Procedures
· People | Training Skills | Life & Work Balance
· 3 Strategic Objectives this year | 90 Day Action Plan & Accountability
2. Top 5 Tips for every Financial Planner to be ‘Future Ready’!

Session Panel Speakers
15:35
The Holy Grail
Panel
Evolve Your Business

Many businesses still operate outdated pricing models that (in the main) price the wealth of clients only or segment clients by how much revenue they are paying the business.

Understanding the cost to deliver advice on ANY client profile can no longer be “guesswork”. Applying a specific profit margin on services is practically non-existent in any business because there is no clear understanding of individual client group cost. Most advice businesses only reprice their service once in every 5 years (or longer) – yet business costs and client circumstances are rarely static. Unearthing the True Cost to serve on EVERY client group must be part of your process Year In and Year Out.

You will hear from Rob and an adviser about how they have implemented this in practice.

Learning Outcomes & Business Tools:
1. Articulate the value you deliver to clients,
2. Explain how your pricing works to clients,
3. Utilise this information to support your compliance of FASEA Code of Ethics Standard 7

Session Panel Speakers
16:35
75th Birthday
Evolve Your Profession

This is Your AFA Life. A look back at 75 years of change, collaboration and celebrations.





Wednesday September 22


10:55
Industry Trends: Looking for Clues
Andrew Inwood, Founder/Principal, CoreData Research Australia
Evolve Your Technical Knowledge

Using the latest Australian and international research, Andrew Inwood will look at the Economic effect of change in our industry and the drivers of growth.

11:35
BREAK
Break
11:45
Using Technology to drive Practice Efficiency and Successful Client Outcomes
Panel
Evolve Your Technical Knowledge

It’s time to look beyond the standard business reviews of pricing, processes and systems to look for efficiency gains and increased profitability. Technology has long been seen as a key way forward to improve business operations, efficiencies and ultimately client experiences. With improvements across these key metrics you will see improved profitability for your business in addition to time savings for your staff.

Hear from leaders in the technology space who are working with advisers and clients to develop and implement better, practical, systems to drive practice efficiency, to reduce cost to serve and to create a far better client experience.

Session Moderator: Jeff Thurecht

Session Panel Speakers
12:30
LUNCH BREAK
Break
12:50
A New Way Forward for Disability Income Insurance
Panel
Evolve Your Technical Knowledge

This session explores the genesis for APRA’s Intervention in the Individual Disability Income Insurance (IDII) market and the work of the Actuaries Institute in preparing a plan to address the issues, including the proposal of a reference product that would guide the future design of IDII products. We’ll talk to life company leaders to hear how they are responding to the pressures in the IDII market and understand what impacts this will have on clients and advisers. The question is, will these changes return the market to sustainability and will clients value the products that emerge?

Session Moderator: Phil Anderson, AFA

Session Panel Speakers
13:40
YFYS for YCYB: Your Future Your Super, for Your Clients and Your Business
Brian Parker, Chief Economist, Sunsuper
Evolve Your Technical Knowledge

Advisers have many solutions to consider for their clients retirement savings and investment needs. Understanding the products and services offered by industry and retail super funds is becoming more critical in the new world of advice. This session will be moderated by an experienced financial services executive who has represented both retail and for member profit funds.

14:25
Using the Changing Retirement Landscape to Build a Sustainable Retirement Offering
Panel
Evolve Your Technical Knowledge

With the imminent introduction of the Retirement Income Covenant it is appropriate to examine the strategies available today, and into the future, to solve for retirement income objectives. Join Chairman, Retirement Income Jeremy Cooper and Head of Technical Services, Andrew Lowe as they delve into how you can practically prepare your business to thrive in this environment and areas where you can enhance the value you bring to your clients.

Session Panel Speakers
15:10
BREAK
Break
15:20
Australian Financial Advisers Wellbeing Report: Lessons on How to Thrive
Panel
Evolve Your Wellbeing

A first-of-its-kind research study into the wellbeing of Australian financial advisers has found poor levels of mental and physical health, with respondents pointing to regulatory and compliance demands as the number one source of stress in their work lives.

Sponsored by leading life and health insurer AIA Australia, the research was carried out by Dr Adam Fraser founder of The e-lab and Dr John Molineux from Deakin University in late 2020 and sought an understanding of the key challenges experienced by financial advisers.

While the research raises concerns about the future of the advice profession at a time when Australians are already challenged by a lack of access to affordable financial advice, it also found that some survey participants were thriving, and there were learnings from which others can draw to improve their resilience. Engagement with industry support services and associations, a positive work/ life balance, practising regular recovery activities such as exercise or mindfulness and having collegiate support were key differentiators between those who were thriving and those who were not.

Learning Outcomes:
1. Identify the factors influencing advisers who thrive
2. Understand the tools you have available to support your own wellbeing

Session Panel Speakers
16:05
In conversation with Dr Nick Coatsworth
Dr Nick Coatsworth, Infectious Diseases Physician, Rabbit and Lion Pty Ltd
Evolve Your Wellbeing

Moderated by Nigel Collin, MC

16:50
Conference Reflections from the AFA President
Michael Nowak, President, AFA
Evolve Your Profession




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