As the theme of this year's FPA Professionals Congress, what does 'Connect, Cultivate and Communicate' mean to you?

Michael Fox CFP^® LRS^®

Private Client Adviser, Main Street Financial Solutions

Licensee: Integrity Financial Planners

For me ‘Connect, Cultivate and Communicate’ means investing in continual improvement, which is the basis of why we attend these types of conferences.

Our industry has been subject to a significant level of change, disruption and public attention over the last 12 months, including the Royal Commission, the Federal Budget, the imminent minimum education standards, proposed regulatory changes and disruptive technology.

Coupled with an already dynamic and ever-changing industry by nature, we continually need to review and assess the services we provide, how we deliver them and the tools we use in doing so, to ensure we always remain relevant to our clients and their needs.

The advent of technology has allowed us to work locally, yet connect and engage at a much larger scale. There are a wide range of resources that are readily available, including peer discussion groups, podcasts, Skype and Zoom professional development seminars and the like. These resources allow us to connect with peers and thought leaders, where previously, we may have been limited due to geographic locations.

At present, we are in the highest state of technological change as we know it, both within our industry and society at large. We can see this through themes such as disruptive technology, robo-advice, artificial intelligence, automated portfolio selection and so forth.

We need to be conscious that what worked well in the past may not necessarily work well in the future. We therefore need to constantly improve on what we do and keep abreast of changes within our industry, if we want to continue to provide clients with optimal solutions and be their key advisers.

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Daryl La’Brooy CFP^®

Financial Adviser, Hillross Financial Services

Licensee: Hillross Financial Services

The financial planning profession hasn’t ever been under more scrutiny that it is at the moment. Unfortunately for many of us, this environment isn’t going to improve in the short-term. Therefore the theme of the Congress is appropriate for the times.

Those attending should connect with as many of their peers and find out what they are doing about the circumstances we find ourselves in. Your peers may provide answers and solutions you may not have thought of during what has been a very turbulent period.

The word ‘cultivate’ to me means to prepare for the future. For some planners, it may mean the end of their career, for others, it may mean navigating through the changes about to impact us and others that are yet unknown. Who is the best to help us through this period? It could be people you meet at the Congress.

‘Communicating’ to me means speaking up and telling people how you are coping through this period of change and uncertainty. It may mean learning to do a lot more than your day-to-day work. It could mean being more vocal and political by engaging with politicians to ensure they hear our voice and viewpoint, and not the voices of the shrill.

So, if you are going to the Congress, utilise your time wisely and get answers to the questions you are asking at the moment.

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Fran Hughes CFP^®

Director and Financial Adviser, Intuitive Money

Licensee: Infocus Securities

“Connection is the energy that exists between people when they feel seen, heard and valued; when they can give and receive without judgement; and when they derive sustenance and strength from the relationship.” – Brene Brown.

Such is the case when the community of FPA members come together at the annual Congress. An energy is created when financial planners, industry professionals, business owners, staff and supporters of the profession connect and cultivate new ideas.

From an idea, seeds of innovation are germinated, synergies created and strong relationships formed. It is an opportunity for this community to hear from thought leaders, experts and from the head of the FPA.

The FPA community is in this profession of financial planning to make a difference to the lives of many. By helping more people achieve their financial dreams, we in return are rewarded and fulfilled.

The FPA Professionals Congress is that place I come back to, time and time again, to connect with peers, cultivate new ideas for growth, and communicate with supporters of the profession.

It is thanks to this body of professionals that I am able to continue making a difference to the lives of many working Australians and gain so much from the work we all do as a collective!

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Connor Shears

Student, Edith Cowan University

‘Connect’ to me has two meanings in relation to financial planning. The first means coming together as a community of financial planners, either in person or online, and through a forum, like the FPA Professionals Congress, getting to know more planners of all ages from all over Australia. The second meaning would be connecting with clients who walk through your door, and establishing a relationship between the client and planner.

‘Cultivate’ means developing and educating. As an industry, by connecting with one another, we can promote ideas within the community and roll out initiatives across the country, in order to benefit our local communities, from school children to senior citizens. We can also help educate and improve our clients’ basic understanding of personal finance, which will help enhance the understanding of other generations to come.

‘Communicate’ is the way in which planners portray their ideas and expertise to their clients, in order to benefit their clients. I also see this as the process that is needed to enable planners to connect with and cultivate the people around them.

I believe with the concepts of ‘connect’, ‘cultivate’ and ‘communicate’, we will continue to see the future development of up-and-coming planners, which will make this an industry students want to be a part of.

The FPA Western Australia Chapter is sponsoring Connor Shears’ attendance at the FPA Professionals Congress through the FPA Chapter student sponsorship scheme. Connor is currently enrolled in a Bachelor of Business degree, majoring in Finance at Edith Cowan University.

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Cath Sharples-Rushbrooke CFP^®

Manager, Advice Services Australia

Licensee: Advice Services Australia

It is extremely rare that a person can achieve anything truly great in isolation, hence it is important to understand who your team is.

At Advice Services Australia, we recently undertook a mindfulness business exercise to become more conscious of everyone who makes our business work; everyone we connect with and how we communicate with them.

This included clients, referral partners, internal and external team members from all areas across our business (i.e. technical specialists, administration, investment, insurance, compliance, marketing, technology, finance, HR professionals and so forth). We also consulted our financial product and service providers, regulators, our network of peers/other businesses, and our professional association (FPA).

We discussed when to use the different methods of communication (such as, email, phone, web, social media, print and face-to-face) to create efficiencies and optimise meaningful exchange for both parties.

Having been involved in training and education for financial planning and accounting professionals for several years, I firmly believe that those who cultivate a practice of life-long learning are best able to deal with the challenges faced in the modern workplace.

This includes completing formal qualifications and all forms of continued professional development (such as attending professional development seminars and webinars, short courses, workshops and conferences). Reading and networking with other professionals also supports an exchange of information and ideas.

Professionals who embrace life-long learning; who create the space and time to connect, cultivate and communicate and to implement these learnings, are successful – both professionally and personally.

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Nathan Nash CFP^® LRS^®

Director – Private Wealth, Scarlett Financial

Licensee: Lonsdale Financial Group

Connect, cultivate and communicate; these three things couldn’t be more important at present, with the Royal Commission underway and the public perception of financial planning at all-time lows.

‘Connecting’ with clients, ‘cultivating’ action and ‘communicating’ value appears natural to me, yet it also takes imagination, initiative and focus. However, mastering these skills will deliver stronger relationships, more positive outcomes and a successful financial planning practice.

Connecting with a client is that part I feel should be more natural. To me , it’s about listening to and uncovering the client’s concerns, desires and individual circumstances. It’s about understanding our client’s needs and demonstrating that we have a genuine interest to help them.

Cultivating action can be the biggest hurdle. Why? Because people often lead busy lives or their easy going nature delays that initial action. What’s needed is imagination and initiatives to keep people motivated, processes efficient, the experience easy and outcomes exciting. Technology can play a significant role here, whether it be video, Skype, electronic applications, mobile apps and the like.

Communicating value is important from the initial client meeting and doesn’t lose relevance throughout the relationship. You may connect well with a client from the initial meeting but to have an ongoing financial advice relationship, you will need to communicate the benefit of your advice effectively. People need to understand they are actually in a better position after paying for your advice. I believe this is an industry issue, with industry super funds focusing people on fees and no advice.

We really need to be more effective in our communication of the benefits of a financial plan and sound advice, particularly when people are surrounded by constantly confusing and conflicting media noise about investments and advice.

To be successful working in one of the most rewarding professions available, helping good people realise their dreams, we need to focus on Connecting, Cultivating and Communicating.

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Greg Tindall CFP^®

Practice Principal and Financial Planner, MiQ Private Wealth

Licensee: MiQ Private Wealth

As a financial planner, you cannot establish trust and cultivate long-term client relationships without open and honest communication skills. It is vital to communicate with clarity and confidence. If you do not truly believe in what you are saying, it will be evident to your client.

The Congress provides delegates with the opportunity to connect with peers and gain exposure to a wide variety of topics and subject matter experts. By taking time out of your business to enhance your technical knowledge and skills, you will be able to harness the learning outcomes and enhance your ability to communicate with influence.

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Dacian Moses CFP^®

Director and Financial Planner, Waterfall Way Associates

Licensee: Waterfall Way Associates

Financial planning is an emerging profession. It feels, however, like we have been emerging for some time and the transformation is not yet over.

In addition to transformational social and legislative change, we are on the cusp of yet another enormously disruptive global technological change.

To remain relevant, valuable and capable of making a significant positive difference to the lives of our clients, we need to become more human. We need to distance ourselves from value propositions that can be done by algorithms and robots. We need to focus less on ‘compliance’ and focus more on the best interest of our clients, our community and our society.

The very same technology that is disrupting our world enables us to connect with more people, more effectively than ever before. Through these connections, we can cultivate a shared understanding of our place in the professional framework and the society that we want to live in.

As a profession, we then communicate this to the public clearly, concisely and effectively.

I understand the theme of this year’s Congress to be a positive expression of the need to look beyond the immediate obstacles and battles that must be fought, towards what we want to become.