Joni Pirovich joined today’s web event to help us unpack the characteristics of digital assets and blockchain technology and highlighted the key risks and benefits of investing in cryptocurrency.

Joni believes in time, advisers will be able to provide value to clients with the use of digital assets by way of diversification, risk appetite and personal interests. For example, there is a whole host of innovation coming for decentralised health and medical solutions. Imagine a scenario where, instead of a client coming to you saying they want exposure to medical investments, health tech and blue-chip banks, you won’t just reference shares or traditional investment products, you will be able to have an understanding of the decentralised verticals for which there are digital assets associated with those projects that you will be able to speculate on and recommend to your client.

This was a fascinating conversation and highlighted the need for a 2.0 session to go deeper into advisers questions on all things digital assets and crypto.

Connect with Joni in the XY platform HERE

Check out Joni’s LinkedIn profile HERE

Here are several strategies from insurance experts you can use to get comfortable talking about insurance with your clients. We certainly covered a lot of ground in this session, and really appreciate Anita Muecke, Cathay Kayess and Andrew Lane giving their time to share the stories, analogies, strategies and tips they have developed over the years to get comfortable having uncomfortable conversations about insurance with clients.

Here are a few snippets of what was discussed:

• Some favourite analogies advisers use to explain the value of insurance
• Making it ‘real’ for clients by getting them to visualise possible scenarios
• Understanding clients past relationships with insurance and their life events
• The soft skills required when facilitating their personal statement
• The risk research tools advisers are using

Here are some links and resources discussed in the workshop:

Russell Collins’ Risk Insurance Communication Skills HERE

LifeRisk Online HERE

MoneySmart Claims Comparison Tool HERE

Andrew Lane’s video demonstration, how to complete an insurance Fact Find from a blank piece of paper HERE

Connect with Andrew Lane HERE

Check out Andrew’s Linkedin HERE

Check out Money and Wealth Management LinkedIn HERE

Connect with Cathy Kayess HERE

Check out Cathy’s Linkedin HERE

Check out Affinitas Accounting website HERE

Connect with Anita Muecke HERE

Check out Anita’s Linkedin HERE

Check out AVA Insurance Consulting Group website HERE

Hooria Goodarzi is a risk and compliance specialist who knows the Code of Ethics inside and out.

In this session, Hooria broke down each of the twelve CoE’s standards in a simple, easy to understand manner and used real-life scenarios to demonstrate how an adviser can navigate the Code of Ethics, the Corporations Act 2001, the Privacy Act, TASA and AML/CTF to ensure they are providing FASEA-compliant advice to clients.

A really good point Hooria raised is that you can be providing compliant advice, without it being ethical. You can also provide advice that is ethical, without it being compliant.

Hooria also covered the latest Royal Commission legislation for FDS, OSA and FSG changes going into effect from 1 July 2021.

The key changes are:

• FSGs must include written disclosure that you are not “independent, impartial or unbiased”
• FDSs must include forward-looking disclosure as well as the current backward-looking disclosure; and
• All Ongoing Fee Arrangements must be renewed by the client each year.

Connect with Hooria in the XY Platform HERE

Check out Hooria’s LinkedIn HERE

Visit Hooria’s website HERE