2024 Licensee Summit

How the licensee industry has responded to the competitive and regulatory challenges of the past 12 months. What have been the big wins for the industry, and where has it fallen short? What impact has the changing focus of the regulator had on what licensees and advisers do, and how they do it?
Includes: Table discussion

The once dominant model of vertical integration has given way to a new landscape of open architecture, in which licensees, advice firms, platforms, researchers and asset managers are willing to share revenue and collaborate to achieve better client outcomes. This session examines how the global wealth management trends of personalisation and ‘portfolio over product’ are playing out in the context of Australian managed accounts and goes behind the scenes of a historic commercial deal.

In one of his first public appearances, newly appointed Commissioner of the Australian Securities and Investments Commission and former Choice CEO Alan Kirkland outlines the priorities in his new role and how he plans to draw on experience from his previous position as a consumer advocate to the task of regulating the financial advice industry.

A deep dive into the work and objectives of the Australian Financial Complaints Authority and the Compensation Scheme of Last Resort, the latter having just commenced operations. AFCA will discuss its approach to external dispute resolutions, including its latest Dixon Advisory test case and the CSLR will go in depth about how its levy is forecasted.

As technology continues to play a pivotal role in the industry, it's essential to leverage it effectively while preserving the human touch where it matters most. This session will discuss strategies for augmenting technology to enhance accessibility and efficiency, while ensuring that human expertise remains central to the client-adviser relationship. Additionally, we'll examine AI use-cases in financial advisory, highlighting how machine learning algorithms can optimise client interactions and decision-making processes. Furthermore, we'll highlight the importance of cybersecurity even in small advice practices, and ensuring licensees adopt robust measures to safeguard sensitive client data and maintain trust in digital transactions.

Australia is on the precipice of a demographic wave, as advisers, licensees and super funds assist millions of Australians transition to retirement. Looking across comprehensive advice as well intra-fund and the emerging models enabled by the Quality of Advice Review, this session will explore how advisers, super funds, platforms and other retirement providers are competing and collaborating to take advantage of new innovations in the age of the Retirement Income Covenant and meet regulatory and community expectations.
Includes: Table discussion

CoreData founder and global CEO Andrew Inwood presents industry-standard research, providing the most comprehensive and thought-provoking insights into the drivers of licensee growth, how the needs of advisers are evolving, and whether licensees are truly meeting them.

Reflecting on his work with advice practices abroad, Franklin Templeton's Robert Crossley will unpack and analyse broader trends shaping the business of advice and how these follow through to transactions within M&A.

The state of the advice practice market – a review of current valuations, multiples and profitability, and what this means for access to funding (both debt and equity) for M&A activity. This panel will hear from the providers of capital into firms and from the facilitators of those deals.

In a fireside chat, new Insignia Financial CEO Scott Hartley discusses the challenges and opportunities facing the business in a fast-changing world, and how the strategy at Insignia will differ from his previous homes at AMP and Sunsuper.

The competitive landscape of financial advice supports a multitude of different licensee business models. We hear from the leaders of a listed licensee group, an institutional licensee, a privately owned licensee in the midst of transition and an institutionally owned risk-focused licensee about the pros and cons of each model.

As licensees transition to being providers of professional services to advice firms, they’re finding they can’t offer every service a practice needs. This session will dissect how licensees can partner with third parties to add services to their offering, and how these are structured and delivered to advisers. With offshoring services becoming a greater trend the panel will discuss which services are best suited to be situated overseas.

The key issues covered in the past two days, and how the licensee community will respond. An opportunity to consolidate the key points covered in the summit and form a consensus view on how to address these issues and opportunities.

Includes: Table discussion