THE FINNOVATOR

The View From Above with Stephen Prendeville

There are some presenters you will always stay until the very last session of a conference to see, and Stephen Prendeville is one of those people.  To present Stephen as someone who helps practice owners buy or sell businesses is to explain only a fraction of what makes him such a fountain of insight.
 
His career started in banking then stockbroking in the 1980s, before he became Australia's youngest certified investment planner in '87. He's headed up a dealer group, then funds management.  Finally, after a stop along the way at Deloitte's, he started down the path that he's perhaps best known for today, eventuating in the founding of Forte Asset Solutions and 16 years facilitating the sale of over 150 FP businesses in Australia.  
 
In truth, what makes Stephen such a fascinating person to be able to speak with is the clarity with which he's able to see the true path the industry is on and, often by drawing upon key data, outline with apparent ease what the future holds for those who want it, and what to avoid.  
 
I'm delighted to be able to spend an hour diving into all things value, the future and, of course, the lessons learned in his own epic journey to date.  
 
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/
 
To know more about what I do, visit our website: https://audere.com.au
 
Follow me on:
LinkedIn: https://www.linkedin.com/in/financial-planning-business-coach/
Twitter: https://twitter.com/stew_bell
Instagram: https://www.instagram.com/stew_bell/
 
Listen to The Finnovator Podcast on
iTunes: https://podcasts.apple.com/us/podcast/the-finnovator/id1506529719
Spotify: https://open.spotify.com/show/5cbeOMTo7bLFbHJlmFOPad?si=cb95b6b6bb734bc0
 
#auderecoachingandconsulting #stewbell #practiceevolution #practiceexcellence #finnovator #financialadvice

Templating Your Practice Communications and More

[00:00:00] "Finnovator Podcast Explores Technology for Practice Development"
[00:06:10] "Maximize Chat GPT's Potential with Smart Prompts"
[00:07:30] "Transforming Efficiency with Typedesk Tool"
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/
 
To know more about what I do, visit our website: https://audere.com.au 
 
Follow me on:
LinkedIn: https://www.linkedin.com/in/financial-planning-business-coach/
Twitter: https://twitter.com/stew_bell
Instagram: https://www.instagram.com/stew_bell/
 
Listen to The Finnovator Podcast on
iTunes: https://podcasts.apple.com/us/podcast/the-finnovator/id1506529719
Spotify: https://open.spotify.com/show/5cbeOMTo7bLFbHJlmFOPad?si=cb95b6b6bb734bc0
 
#auderecoachingandconsulting #stewbell #practiceevolution #practiceexcellence #finnovator #financialadvice

How ChatGPT Can Help Practice Owners

In this episode of The Finnovator, Stewart delves into the topic of AI tools, specifically Chat GPT, which he has been experimenting with for a few months.
 
He discusses the value of AI tools in completing simple tasks and calculations and provides insights into how Chat GPT can streamline research and simplify complex topics.
 
Stewart breaks down the three components of work and suggests that ChatGPT can quickly and accurately complete the middle 80% of the work, allowing individuals to focus on the more important aspects of their work. He also shares his insights on the limitations of AI tools and the implementation time cycle's potential environmental impact.
 
Tune in to this episode to learn more about the pros and cons of using AI tools in your work.
 
Show Notes:
[00:00:56] "Renewed Energy and Exciting Guests Await You"
[00:03:17] "Maximizing Chat GPT's Potential: Lessons Learned"
[00:09:04] "The Power of Chat GPT in Editing"
[00:11:25] "Chat GPT Simplifies Writing and Organizing Content"
[00:15:54] "Chat GPT Simplifies Complex Concepts for Experts"
[00:16:58] "Chat GPD Beta Testing Streamlines Research"
[00:21:16] "Chat GPT: A revolutionary tool for efficiency?"
 
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

Build a Secure and Engaging Client Portal with Martin Morris

Stories of advisers who "scratched their own itch" and ended up building tech solutions that offer something for other businesses too always interest me, which is why I wanted to sit down and explore Martin Morris's.
 
Being an adviser and founder of My Financial Mentors is just one hat Martin has chosen to wear. More recently, he's taken a tool that was once part of his own advice process and turned it into a "hub" solution for advisers wanting to centralise multiple engagement functions in one, secure portal - called Engagement Hub - as well as finding himself in demand in the coaching space for advisers in South Africa wanting to adopt more of the methodology behind it.
 
For all the output at the end of it, it's the journey behind it that I think has all sorts of lessons to impart about how advice firms
can build their own tech,
believing in your own methodology and
all the many inputs and insights along the way that have led to the solution.
 
If you're looking for a bit of end-of-year inspiration about what's possible when it comes to creating your own tools and tech solutions, join myself and Martin for this one.
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

The Evolution of Licensees with Rachel Bell

Some time ago, I drew a picture for a friend of mine outlining the four pillars that contribute to practice success. It might not surprise you to learn that one of those pillars was licensing.
 
In this Finnovation Masterclass, I'll be joined by someone I know very well to have a conversation that I've never had before.
 
Rachel Bell is a Sydney-based PDM/ Business Coach with Affinia, who brings to the table a wide range of experience as an adviser, BDM, PDM, and a bunch of other roles in the industry that give her a uniquely wide perspective many others don't have.
 
In this session:
we'll dive deep into the evolution of the licensee relationship as it relates to your business success.
we'll pinpoint the kind of businesses that are best suited to using third-party licensing and how certain firms are able to craft a supportive and successful relationship with licensees where others simply aren't or don't
we'll also explore some of the "behind-the-scenes" aspects of providing the services practices like yours rely on, and talk at length about the potential future of licensing that are playing out as we speak.
 
Join us for what promises to be a detailed look at the cutting edge of the role licensees do play in the current shifting industry landscape and where that may head in the coming years.
 
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

High Insight with Sacha Burchgart

We've had the opportunity to see many different types of advice models down the years as part of this podcast, but even now after all these years it still impresses me when practitioners make a way of operating truly theirs.
 
In this Finnovation Masterclass, you're invited to tune in as myself and Sacha Burchgart explore what it is about her practice Burcheart Financial that has seen her consistently grow her practice with great clients despite no formal marketing.
 
At the core of it lies a methodology that uses cash flow analysis and scenario modeling to drive changes in client behaviour and decision-making at a day-to-day level. If this sounds like cashflow coaching, be assured it absolutely isn't, and we'll dive into how and where it differs (and why it works where the former often doesn't).
 
We'll also cover how:
she's made the delivery of a Strategy Paper an in-demand advice offering in its own right
she's seeking to evolve what's developed into a high-touch service model into her next phase of growth.
 
This will prove to be a very insightful journey into a business model that we're likely to see much more of in the future.
 
 
To learn more, join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

The Story of Worksorted with Dan Fitzgerald

Continuing our theme of 2022 in looking deeper into the technology solutions available to advice firms in 2022, my guest in this Masterclass is someone who will be known to many of you.
 
To say Dan has quite a pedigree in financial services would be an understatement. He's held a number of roles at a variety of well-known financial institutions, but the tech journey begins in 2004 with a tool those of you may recall called OLICC.
 
For the last decade-and-a-bit though his passion has been split between supporting growth in training organisations with Weworkbook, and helping advisers achieve greater efficiency with Worksorted.
 
If you know the latter name but not the tool itself, what you need to know is it's one of a number of software tools seeking to solve the operational challenges faced by advice businesses in a slightly different way to others.
 
In this Masterclass, we'll dive deep into:
the story behind Worksorted
provide insight into the issues it's focused on helping practices address
the tech stack it works best with
 
If you've wondered what's out there but struggled to get to the heart of whether Worksorted is right for you, lend me an hour and I'll give you back the insight you need.
 
Join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/
 

The Story of Advice Intelligence with Ashley Mahadeea

In the second of our relaunched Finnovation Masterclass series, I'm joined by Ashley Mahadeea of Advice Intelligence.  
 
Advice Intelligence is one of what I'd call one of the bigger fringe players in the practice technology space. Growing but not yet where the team is aiming to take it.  
 
In the tech world though, Advice Intelligence has all the markings of a future star: well-funded, great team and a clear vision of a software solution that can do it all in a way that is looking to the future rather than the past.  
 
If you're the kind of practice whose value is aligned with how much more effectively you can help clients make faster progress, then your ethos will be aligned with their approach.  
 
If you see the future of client engagement as being portal-centric, ditto.  
 
In this session, Ash and I will dive into:
the genesis of the Advice Intelligence platform,  
the specific practice issues they've set sight on solving,  
who AI is built for and the kind of business model someone seeking their solution will be looking for.  
 
If you've ever wanted to look beyond the tech you know, peer into the team behind the name and understand whether AI is something to consider at a deeper value, ethos and business model level, join Ash and me as we go deep.
 
Join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

Mother-of-All-Spreadsheets Masterclass with Taylor Bindon

In the very first of our relaunched Finnovation Masterclass series, I'm joined by Taylor Bindon of MOAS.  
 
When it comes to financial planning software there are many tools that start with the aim and claim to be able to do it all. Interestingly, there are few that start with the eventual aim to be able to do it all but the initial intention to do a few things brilliantly.  
 
I first met Taylor personally once he and his team had successfully implemented MOAS into one of my client's business to bring down the total time required to deliver Review documentation to just over an hour. Their next goal is to get it under.  
 
This approach to growing a tech solution - by focusing on the most doable problems first - is something that flies to the heart of why tech companies grow fast and often outmanoeuvre better-funded competitors, and why I want to share with you the story (and keep an eye on what's coming next).  
 
For those of you challenged to get Statements of Advice out or find a way of making them look like something other than a legal contract, what they're doing now may not be as interesting as what comes next.  
 
In this session, Taylor and I will be discussing a range of areas of their growth path, including how MOAS came about:
- The team behind it and why their complimentary skillset is so important for any tech success story
- The specific problems they took aim and how they've solved them
- The kind of practice who would benefit from their solution and why MOAS does and doesn't replace/ compliment.
 
This is a chance to see into something very new outside of what most of us know within practice technology.
 
Join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/

Value Transition Masterclass with Daryl La’Brooy

I'd like to invite you to join Daryl La'Brooy (Hillross St Kilda) and me for a Masterclass session all about how to do a pricing transition most effectively.
 
I've had the great pleasure of working with Daryl, Kirsten, Steven & the team these past months and this is a story I really wanted to share with you.
 
If you have yet to meet Daryl, let me be the first to introduce you to someone who as well as being a very switched on business owner, published author and someone I could talk with for hours, is also a very fine adviser indeed.
When we first met, the conversation followed a very familiar path that's become common these past years.
 
Whilst diagnosing the many opportunities for us to work together to improve, optimise and fix certain areas of the business, one key issue shone like a beacon.
 
Pricing.
 
In this Masterclass, we're going to dive deep into how Daryl and the team approached their transition from a very specific angle.
 
One of a number of impressive talents Daryl has is his ability to identify very clearly the value that advice provided has added to clients.
We're talking about the kind of "you-started-here-and-now-you're-here" analysis that he's able to do, in detail, at the drop of a hat.
 
It's proven very helpful when talking fees with clients and standing firm on value (not that it's been much of an issue most of the time), and just one small part of how after six months of working on his transition he's already successfully closed 50% of what was identified as a quarter of a million-dollar profit gap.
 
It's a great case study to understand for anyone who wants to get into the nitty-gritty of how a successful transition can be done with intensity, as well as the value of advice over time as explained by someone who is absolutely clear on it.
 
Join our list and get the latest best practice insights in your inbox every fortnight > https://audere.com.au/blog/