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Sherise Mercer is the Division Director, Head of Macquarie Virtual Adviser Network at Macquarie Group, and today shares the insights from the recent Macquarie Accounting and Financial Services benchmarking report, “What will it take to thrive in a changing environment?” This report is based on an in-depth survey of 396 financial advice firms and uncovers the ways successful advice firms capitalize on the opportunities created changing market.

IN THIS EPISODE YOU’LL LEARN MORE ABOUT:

(1:34) – The Purpose of the Macquarie Accounting and Financial Services Benchmarking Report

(2:40) – What Makes High Performers Different

(5:06) – Where High Performing Firms Referrals are Coming From

(7:30) – How Successful Firms are Reaching out to Broader Markets

(9:30) – Coaching and Education as a Service for Financial Advice Firms

(10:53) – Profiling a Different Advisor to Attract Younger Clients

(12:10) – Five Tips for Remaining Relevant and Profitable Moving Forward

For Your Copy of the Report Head Over To:

https://www.macquarie.com/au/advisers/campaigns/accounting-financial-services-benchmarking

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Today on Listen to the Experts, we chat with Jessica Ellerm. Jess is the CEO and Co-Founder at Zuper Superannuation. They’re a relatively new kid on the block, although the team is highly experienced and qualified. Together they are turning the perception and notion of superannuation on its head, and they’re doing well! One of their mantras is, “If you want to change the world, start by changing your super.”

IN THIS EPISODE YOU’LL LEARN MORE ABOUT:

(1:20) – What Zuper Does for the Financial Community

(2:38) – The Ideal Client for Zuper

(4:00) – The Importance of Superannuation

(4:39) – When Zuper got Started

(5:36) – How to Attract the Ideal Demographic That’s Not Thinking about Super

(9:25) – What Zuper is Trying to  Achieve with Their Brand

(10:57) – Tackling the World of Social Media

(13:17) – Reaching the Target Audience Through Non-Traditional Mediums

(15:00) – Making Zuper’s Members Their Most Valued Influencers

For More Information about Jessica Ellerm Check Out:

https://zuper.com.au/

https://jessicaellerm.com/

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Today on Listen to the Experts, we chat with Melissa Browne. Melissa is an author, speaker and serial entrepreneur who was listed in 2016 as one of AFR’s 100 Women of Influence.

She is the founder & CEO of the award-winning accounting and advisory firm A&TA (Accounting & Taxation Advantage), co-founder and CEO of the financial planning firm The Money Barre and co-founder and Director of Business at the long-day preschool, Thinkers.inq. Today, Melissa shares her secrets to marketing success; how she has built her brand, positioned herself as a thought leader and inspired others to financial success.

IN THIS EPISODE YOU’LL LEARN MORE ABOUT:

(1:40) – How Melissa has Built Niche Financial Brands

(2:51) – Brand Crossover Between The Money Barre and Accounting & Tax Advantage

(4:17) – Melissa’s Journey to Becoming a Published Author – More Money for Shoes, Fabulous but Broke, and Unf*ck Your Finances

(6:54) – A TV Personality in the Making – How Melissa got Started Working in Television

(9:00) How Mellisa Juggles Running a Preschool, Working with Clients, and Producing Consumable Content

(10:30) Traditional Marketing Strategies – Weekly Newsletters, Networking Events, and Speaking Gigs

(11:53) Building a Referral Network – The Business Version of the Little Black Book

(13:03) Maintaining a Community of Clients that Support One Another – Being an Advocate for Your Clients

(14:28) Using Social Media to Grow a Business – Identifying a Target Audience

For More Information about Melissa Browne Check Out:

http://www.melissabrowne.com.au/
http://www.themoneybarre.com.au/

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Today on Listen to the Experts I’ll be talking with Andrew Inwood, the Principal & Founder of CoreData research. In the wake of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industries, Andrew has some insights into how we should move forward in a world who’s seen its confidence in the financial sector pummeled in recent weeks.

(02:00)  – Five Ways to Rebuild Trust in the Wake of the Royal Commission – In his recent article, Five Ways to Rebuild Trust in the Wake of the Royal Commission, Andrew talks at length about how to move past the mistrust created by the Royal Commission. Many people have had their lives fundamentally changed for the better by their financial planner. There are no systems with zero error, fraud or malpractice. It’s important to acknowledge that fact, but also to recognize the fact that the vast majority of experiences are unquestionably positive.

(03:30) – What You, as a Financial Adviser, Should be doing in the Wake of the Royal Commission – Talk to your clients. Reach out and let them know what you’re doing, how you’re feeling, and what’s happening. It’s important to start to segment your customers behaviorally. What does happiness look like for each of your clients? The more you know about your clients’ motivations, the better you can serve them.

(07:45) – How to Start the Conversation – The best way to have a conversation about something as impactful as the Royal Commission is in person. Face-to-face meetings are time-consuming, so if that’s not practical, a phone conversation is the next best option. If you have to send out mailers or emails, make sure they’re personal. Don’t send form letters. Make a connection. Construct an outline of the ways you, as a financial planner, add value to people’s lives.

(10:00) – Demonstrating Value – We in the financial sector do a lot of things well. One thing we don’t do particularly well is talk about the ways we’ve transformed people’s lives. We don’t talk about the decisions we’ve made with our clients that have taken them from financial chaos to stability; this is a psychological construct called anchoring.

(12:20) – What to Write in a Letter to Clients Regarding the Royal Commission – All financial advisors should be pointing out that the system is under examination. As with any system under examination, the commission is finding problems; false charges, people being recommended into poor products, etc. It’s essential to demonstrate that there’s a reason those things aren’t happening to them. The segment of the sector engaging in these bad behaviors is small.

(13:20) – What to do if Your License Aligns with a Big Financial Institution – The key to surviving the Royal Commission, regardless of who your license aligns with, is to be able to articulate the value of your services. Is there a platform fee on your client’s invoice? Make sure you can explain that charge. Every cost must be articulated for your client.

(14:25) – If I Ignore This, Will it Go Away? – Putting your head in the sand because you’re not proud of the work you’re doing won’t make the problem go away. If you’re charging for services you’re not providing, you’re going to be found out. Lead the change. Provide services you’re proud to charge for.

Be proactive, talk to your clients, and get out in front of this thing. If you’d like more information about CoreData or would like to read Andrew’s piece on surviving the Royal Commission check out the company’s website, CoreData.com.au. If you’d like a copy of Andrew’s research, send him an email at andrew@coredata.com.au. Thanks so much to Andrew Inwood for putting the time aside to talk!  

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Though Vinomofo was launched in 2011, it really started life back in 2007 in the garage of brothers-in-law and fellow wine geeks Justin Dry and Andre Eikmeier, who just wanted to do something cool for wine lovers and producers.

Andre was excited by the “voice of the people”, the idea of real people rating and reviewing wines and sharing their recommendations, and Justin had discovered Facebook whilst travelling in South America and wanted to create a social network for wine nerds. Today Andre shares how the business developed it’s brand, client experience and love of all things human.

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Today I have Andre Eikmeier of Vinomofo on to talk about the success of his company and pick his brain about some of the great things Vinomofo has done from a marketing point of view.

(01:20)  – The Importance of Branding – People want to feel like they’re a part of something. If you’re going to be a successful organization or group, you have to create a world that people want to be a part of. They want to feel like they belong to a community. As much as your product or your service, that brand is what makes businesses like Vinomofo stand apart from the crowd.

(03:00) – Where Andre Got His Inspiration – When Vinomofo got started there were a few unique sources of inspiration that pointed the company towards success. Before there was a product, there was a community. Thought leaders in marketing–and particularly commision based marketing–like Seth Godin and Gary Vaynerchuk were primary influencers for Andre and his co-founder and brother-in-law, Justin Dry, during the early stages of Vinomofo. Growing a tribe or a community is more important than selling a few cases of wine. Everything has to be about growing the tribe while keeping the members you already have.

(05:33) Facebook as a Platform for Business – Vinomofo puts the most significant portion of their marketing budget towards Facebook paid-advertising. It’s the targetability of the tool that makes Facebook such an incredible platform. For a small initial investment, you can design targeted ads with real-time feedback so you can see what works and what doesn’t before scaling your marketing plan. It’s a smart tool if you know how to use it.

(07:08) Attracting New Customers in a Competitive Environment – The online space is becoming more and more attractive to shoppers, not only in the wine industry but across most of retail. One of the biggest appeals to forgoing the idea of a brick-and-mortar establishment is how much less capital injection a business in the online space requires for growth. The global market provides a more immediate growth strategy than a store, but Andre isn’t ruling that possibility out for the future.

(08:30) How-to: Client Experience – For Vinomofo it was about differentiating themselves from the rest of the industry. In 2011 the space was occupied by conservative, elitist, intimidating players. For Andre and Justin, it was about cutting out the bullsh*t language that was creating the disconnect. Talk about wine in a way people can understand, like food. Everybody understands food. It was as much about changing people’s attitude toward wine as it was about selling the wine. The trick is making sure every decision you make works, not only for you but all of your clients and suppliers as well.

(13:00) The DNA of Vinomofo–How Important is Mindset? –  It’s fundamental. Your values and culture are essential. With more and more choices for the average consumer, your core values and the culture around your product have become a selling point. People want to relate to the companies making and selling the products they buy.

(15:40) The Secret to Winning Employer Awards – Let people drink wine at work!

Can you imagine having a job where you have to try wine every day!? Andre is so lucky! It’s so refreshing and exciting to see brands, whether they’re in financial services or not, really peel back the onion and be straight shooters. Thanks so much to Andre for being a part of this episode of the Listen to the Experts Podcast!

Check them out here!

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Recently recognised as the IFA Thought Leader of the Year, Sarah was also named as one of Melbourne’s Top 100 most influential, inspiring and creative citizens by The Age, and listed in the Top 50 Female Entrepreneurs under 40 by Shoestring. She holds a Bachelor of Business (Financial Planning) and several diplomas.

Sarah is an extremely sharing person and in this podcast reveals how Wealth Enhancers brand has evolved, how they attract and retain clients and their whole ethos around business.

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Today Wealth Enhancers CEO and Co-Founder Sarah Riegelhuth and I focus on marketing. Wealth Enhancers is a fundamentally different kind of wealth management company. Whether it’s their unconventional target market or their focus on coaching, WE breaks the wealth management mould. Sarah is the winner of countless awards both locally in Melbourne and internationally. Her personal success in the financial sector drove her to start WE as a means of helping other millennials who struggle with the financial side of business, and business sure is booming.

 

IN THIS EPISODE YOU’LL LEARN MORE ABOUT:

• Online Marketing Strategies
• The Wealth Enhancers Sales Funnel
• Creative Client Acquisition
• Community Growth
• Brand Building
• How Wealth Enhancers Leverages Artificial Intelligence Technology

For more information about the WE Coaching Academy Check Out:

http://wealthenhancers.community/coaching-academy/

For More Information about Sarah and Wealth Enhancers Check Out:

http://wealthenhancers.community/