In the latest episode of The ifa Show, Andrew Gale and Stephen Huppert from the Actuaries Institute's Help, Guidance and Advice Working Group joins host Keith Ford to take a deep dive into the recently released framework to address the complexities of financial advice in Australia, focusing on creating clearer pathways for consumers to access financial support.

Andrew and Stephen explain that the current system leaves approximately 60 per cent of Australians without adequate financial support, while the HGA framework aims to bridge this gap by providing a more flexible approach that allows for different levels of support, from basic information to comprehensive personalised advice, while maintaining clear regulatory boundaries.

Tune in to hear:
• The challenges facing the provision of financial advice and how the framework aims to solve them.
• Why clearer boundaries between different levels of financial support are vital to improve client outcomes.
• How the still unfinished Delivering Better Financial Outcomes reforms can provide some positive results.

In the latest episode of The ifa Show, MLC Expand CEO Liz McCarthy and Shadforth Financial Group CEO Terry Dillon join host Keith Ford to discuss the transformative role of AI in financial advice and how AI tools are being implemented to drive efficiency.

With advice firms looking for greater automation of routine administrative tasks, AI is set to reshape the advice profession's approach to client service and business growth.

Tune in to hear:

• How MLC Expand and Shadforth are responding to the need for greater efficiency through AI tools.
• Why rigorous governance and privacy protocols to ensure data security and accuracy are so vital.
• The crucial role of AI in expanding client service capacity, improving financial literacy, and addressing the broader advice gap in the market.

In this crossover episode of The ifa Show, host Keith Ford is joined by The SMSF Adviser Show co-host Aaron Dunn to unpack the changes from the initial proposal to the current version released this week.

The discussion emphasises that while the major concerns of taxing unrealised gains and lack of indexation have been addressed, many technical details still need to be clarified through the legislative process and further consultation.

Listen as they discuss:

• Taxable earnings: Originally, the tax applied to all earnings, whether realised or not. The revised measure will only tax realised gains.
• Indexation: The $3 million threshold will be indexed against the consumer price index (CPI) in $150,000 increments, pegged to the transfer balance cap movement. The $10 million threshold will be indexed in $500,000 increments, also aligned with CPI.
• Tax rates: For balances above $3 million, an additional 15 per cent tax applies to earnings. For balances above $10 million, an additional 10 per cent tax applies to earnings.
• Start date: The effective start date has been moved to 1 July 2026, with the first assessments issued in FY2027–28.
• Liability: The tax liability remains with the individual, who can pay it directly or seek a release from their super fund. The ATO will calculate the tax.
• Consultation: There is optimism for constructive consultation on the implementation details, particularly regarding how realised earnings will be calculated for APRA funds and self-managed super funds, and the treatment of CGT discounts and pre-2026 asset gains.

Tune in to hear:

• The value of having the support of an established business, including leveraging shared resources, economies of scale, and established referral networks.
• How transitioning from an adviser to a business owner requires a significant mindset shift.
• Why nurturing "soft skills" like communication and client understanding in new advisers, alongside technical expertise, is vital.

In the latest episode of The ifa Show, Ben Walsh, principal research consultant at WealthVantage Partners, joins host Keith Ford to break down the corporate regulator's new report on the private credit market and highlight the main areas that financial advisers need to understand.

Walsh delves into the report's detailed examination of the industry, emphasising the need for greater transparency and scrutiny, particularly regarding special purpose vehicles, fee disclosures, and product labelling.

Tune in to hear:

• Why advisers need to conduct thorough due diligence and not rely on any third party when recommending private credit to clients.
• The danger of private credit funds often being mislabelled as "defensive exposure" despite the illiquid nature of their underlying assets.
• Why advisers shouldn't be considered gatekeepers, and more onus needs to be on the fund managers themselves.

In the latest episode of The ifa Show, Mazi Wealth financial adviser Deline Jacovides joins host Keith Ford to delve into the complexities of making financial advice more accessible and why accessibility extends beyond simply trying to deliver advice at the lowest cost possible.

Jacovides explains that she believes making advice more accessible includes utilising diverse delivery methods like ad hoc services that may appeal to clients who may not require continuous engagement, while also requiring government action to reduce the cost burden on financial advisers.

Tune in to hear:

• Why transparency and education are crucial to bridge the gap between client expectations and the true cost of financial advice.
• How clients who have engaged with online "finfluencer" content often have some level of foundational financial literacy.
• The role of technology in streamlining operations and enhancing the efficiency of advice delivery.
• Why fixing the onerous statement of advice process should be the top priority in advice reform.

In the latest episode of The ifa Show, host Keith Ford is joined by Shail Singh, lead ombudsman for investments and advice at AFCA, for a deep dive into two of the most complex – and crucial – pillars of financial consumer protection: the Australian Financial Complaints Authority and the Compensation Scheme of Last Resort.

From resolving disputes early and rebuilding client relationships to tackling large-scale cases like Dixon Advisory, Singh sheds light on how AFCA operates and the challenges posed by mounting case volumes.

The discussion also unpacks the role of the CSLR in firm failures, deadline-driven complaint surges, and the often-confusing treatment of self-managed super funds under retail versus wholesale classifications.

Hear about:

• AFCA's approach to resolving disputes and why early resolution is encouraged.
• The challenges of the CSLR in handling firm failures and complaint deadlines.
• What advisers need to know about SMSF classifications, multi-party disputes, and managing risk.

In the latest episode of The ifa Show, host Keith Ford sits down with David Berry, inaugural CEO of the Compensation Scheme of Last Resort, to unpack the challenges of protecting investors when financial advice goes wrong.

They discuss high-profile failures like Dixon Advisory, Shield, and First Guardian, and the legislative and regulatory changes needed to ensure the CSLR's long-term sustainability.

Tune in to hear:

• The complexities of addressing financial firm failures, including Dixon Advisory and United Global Capital.
• Legislative and regulatory improvements that could strengthen the CSLR for the future.
• How transparency and ethical advice are crucial to maintaining trust in the financial advice profession.