In this episode of The ifa Show, host Maja Garaca Djurdjevic is joined by Bryce Quirk, Group Executive of Distribution at CFS, and Recep Peker, Managing Director of Empower Business Advisory, to explore the findings of the firms’ recent Advice Practice Profitability Report.

Quirk and Peker break down the report’s most important insights for advisers, from the way practice inefficiencies are hindering their ability to serve a greater number of clients to the importance of investing in the foundation of their businesses to accommodate future growth.

Listen as they discuss:

• How to address the ongoing issue of advice accessibility.
• The importance of advocating for the value of financial advice and reducing servicing costs.
• The role of managed accounts in simplifying processes and improving client outcomes.
• Why advisers should seek technology partners that facilitate consistency and simplicity and how this can boost profitability.

In this episode of The ifa Show, co-hosts Keith Ford and Maja Garaca Djurdjevic sit down to discuss tranche two of the Delivering Better Financial Outcomes legislation and Liberal senator Andrew Bragg’s admonishment of the government for the ever-extending timeline to deliver a draft of the legislation.

Together, the pair delve into the potential impact of Australia’s 2025 federal election and how politics are playing a role in the legislative process, suggesting financial services could become a key battleground as the election nears.

Listen as they discuss:

• The private member’s bill hoping to provide advisers a reprieve from onerous statements of advice.
• Advisers who are left in a state of limbo as they await legislative change.
• The Compensation Scheme of Last Resort and the ongoing battle against Dixon Advisory.

In this episode of The ifa Show, host Keith Ford is joined by Conrad Travers, director and principal consultant at Tangelo Advice Consulting, to discuss the ATO’s final determination on tax deductibility of advice fees and how advice firms can put the changes into practice to benefit their clients.

Travers explains how the new guidance works, what has changed from the draft determination that was released last year, and why it is important to work alongside accounting professionals to ensure the best outcomes for clients.

Listen as they discuss:

• Why advice firms need to identify areas of friction in their processes to enhance their operational efficiency.
• How to get your practice ready for the changes coming out of the first Delivering Better Financial Outcomes (DBFO) legislation.
• What to expect from the second tranche of DBFO and why you shouldn’t rely on regulatory change to improve your practice.