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PODCAST

Challenge the Standard in Financial Advice

Nathan Fradley and Jordan Vaka

Welcome to the Challenge the Standard podcast - a podcast for financial advisers, by financial advisers. Your hosts, Nathan Fradley and Jordan Vaka, will examine the biases, fixed thinking and status quo in advice. In every episode, we"ll dive deep into the world of financial advice, questioning the norms, sparking new ideas and exploring how we could do things better. Our goal is to elevate our professional practices and "uphold and promote the standards of our profession. So, whether you"re a

business management

All Episodes

01:07:42

S4E6 Granny Flat Rights

Challenge the Standard in Financial Advice ·

2025/01/16

After last week's digression down rant-y alley, this week we explore the more interesting, technically fascinating topic of Granny Flat Rights. What they are, why they matter, how financial advisers can help and the (many, many) traps to avoid as you're helping clients navigate this complex space. This is one of the more techincally complex topics Nathan and Jordan explore, but their repeated attacks on Grandpa Joe from Charlie and The Chocolate Factory, as well as their elaborate family tree they

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01:02:01

S4E5 - Licensing (50th Episode!)

Challenge the Standard in Financial Advice ·

2025/01/09

So, somehow, we've hit 50 episodes! And to celebrate, Nathan's allowed Jordan to climb up on his soapbox and wax lyrical about his favourite subject in advice - Licensing. While he insisted on keeping it relatively constructive and useful, Jordan still manages to provide his, uh, unvarnished thoughts on the merits of the current system. Nathan's patience shines through towards the end of the episode too, when Jordan kicks on a straight-to-camera diatribe that turns the air blue (and his face

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58:45

S4E4 Marketing

Challenge the Standard in Financial Advice ·

2025/01/02

Building an outstanding financial planning practice boils down to two, simple (but not easy) ideas - finding new people to work with, and making the process of working together efficient, effective and excellent. Jordan and Nathan have discussed the second part of that equation - now it's for the first part: finding new people to work with. In this week's episode, they talk about the importance of knowing your desired audience, defining who you're going to help and finding the right approach and

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55:07

S4E3 Oh No, A Clip Episode!

Challenge the Standard in Financial Advice ·

2024/12/26

Don't you hate it when you are really getting into a 2000's sitcom, and the writers go on leave mid season, so the producers peice together a clip episode of throw back moments from throughout the show? Well, I hope not, because that's what we have gone and done. With a full year of episodes under our belt, Nathan thought it would be great look glance in the rear window and boy did he regret it. Turns out peicing together an episode of great moments from a C grade podcast was more work than he

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01:00:41

S4E2 Onboarding Process

Challenge the Standard in Financial Advice ·

2024/12/19

How do you feel about the process you follow when you're bringing on clients? Are you one of those unicorns we hear about that has every, single element nailed down so the whole thing is tight as a drum? Or are you like the rest of us - it's fine. I mean, it could be better, but it could be worse. Right? Right...? Well, in this week's episode, Nathan and Jordan unpack the steps they follow when they start workign with a client. The good, the bad and the ugly. (Of the process. Not the clients)

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01:00:31

S4E1 Christmas Client Conversations

Challenge the Standard in Financial Advice ·

2024/12/12

Advisers are, famously, an empathetic bunch of people. So, let's imagine a situation our clients could very possibly find themselves in this festive season. Christmas lunch with the extended family. The matriarch of the family is at the head of the table, with the various siblings, cousins, in-laws and hangers on scattered around the festive tablecloth and grossly optimistic piles of food. Wine's flowing, as are beers and sparkling apple juice for the rest of us. Between polishing off the third

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40:15

S3E6 The PY Series Wrap Up

Challenge the Standard in Financial Advice ·

2024/11/28

Following what was a steep learning curve for both of our hosts, in this episode Jordan and Nathan reflect on each episode and wrap up their thoughts on best practice for PY. They cover The importance of communication and structure for a PY. The cost/investment in the PY for a business Staging PYs for greater skill and advice capability in your business How they would roll out a PY Nathan: advice@nathanfradley.com.au www.nathanfradley.com.au Jordan: jordan@planningsolo.com.au

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41:06

S3E5 Letters to the Editor

Challenge the Standard in Financial Advice ·

2024/11/21

As part of preparing for this PY series, Nathan and Jordan put together a survey and asked people to provide some feedback on their experience of the PY. Employees. Business owners. Partners. Associates. Anybody with an opinion on the subject. In an outcome both surprising and gratifying for Nathan and Jordan, people actually responded! And their answers are thoughtful, useful, insightful and, frankly, wonderful. In this week's episode, Jordan and Nathan discuss the responses and identify some of

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48:48

S3E4 PY Insights with Danielle Waugh

Challenge the Standard in Financial Advice ·

2024/11/21

This week, Jordan and Nathan speak with Danielle Waugh - Advice Education Manager from TAL's Risk Academy - about: TAL's commitment and contribution to the PY process Insights she's found from working with multiple practices, across multiple licensees Why some of the terminology can be a little bit misleading This is a really interesting discussion because Danielle does a great job in providing a macro, functional view of the on-the-ground reality of the PY across the profession. Additional

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53:20

S3E3 The Next Generation of Adviser with Alisdair Barr

Challenge the Standard in Financial Advice ·

2024/11/07

This episode of our Professional Year 'mini-series' is all about that pathway from university to the world of advice - and where the PY piece fits into that entire puzzle. Nathan and Jordan are joined by Alisdair Barr of Striver, a key player in the recruitment, training and retention of new talent in advice. Alisdair takes us through: Their ambitious goal of helping find the next 5,000 advisers over the next 10 years The absolutely critical role academics play in showing students the joy,

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01:03:26

S3E2 A PY Structure with Phil Thompson

Challenge the Standard in Financial Advice ·

2024/10/31

In this week's episode, Jordan and Nathan are continuing their exploration of the Professional Year. They're joined by Phil Thompson from Skye Wealth this week, who with his characteristic openness and generosity, shares the structure they've built to help people grow through the PY. Phil explains: The structure they've built to bring on, develop and grow people through the process. Why they don't rush into putting someone into the PY. Why the legacy impact of what he's doing doesn't really

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42:51

S3E1 Intro to Our PY Series

Challenge the Standard in Financial Advice ·

2024/10/24

So, what's the deal with this professional year thing? How's it work, why do we have it, what's wrong with it - what's right with it? In this week's quick episode, Jordan and Nathan introduce the framework for their upcoming series on the Professional Year (PY). Specifically, why they're doing this. Why bother dedicating multiple episodes to something that - at this stage at least - has no bearing on their own businesses? The simple answer is - to address some of the pockets of ambiguity still

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58:09

S2E20 The Three Tier Problem

Challenge the Standard in Financial Advice ·

2024/10/17

Financial advisers were up in arms a few months ago, at the introduction of a new 'lite' version of financial adviser being introduced to the market. These 'Qualified Advisers' wouldn't have the obligations of fully fledged advisers, and clients would be vulnerable to the same harms we've all spent years trying to eliminate. Yet - there's already another tier of 'adviser' in the market who have it relatively easy, compared to the onerous burdens on us Relevant Providers. Which is why in this

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01:05:37

S2E19 Conscious Performance with Vanessa Bennett

Challenge the Standard in Financial Advice ·

2024/10/10

This week's episode sees Vanessa Bennett, from Next Evolution Performance join Jordan and Nathan which, given how often her work has been referenced on this podcast, is timely! In this episode, Vanessa discusses: The corrosive impact ambiguity can have in the workplace. How an awareness of neuroscience can empower leaders to build the best environment for their team. Why multi-tasking is a myth - and gives a name to something we're all guilty of (Constant Partial Attention...yikes!) Why recognising

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57:24

S2E18 Insurance Needs Analysis

Challenge the Standard in Financial Advice ·

2024/10/03

Working out how much life, TPD, trauma and income protection insurance someone needs used to be a key part of a financial adviser's training. But with the decline of insurance, Nathan and Jordan thought it might be worth revisiting this crucial, but often controversial topic. They discuss: how they each come up with their insurance coverage recommendations how falling in love with an overly complicated calculator can lead to all sorts of headaches the fundamental nobility that exists in persuading

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53:49

S2E17 - M & A with Steve Prendeville

Challenge the Standard in Financial Advice ·

2024/09/19

There are two incredibly significant days in the life of any business owner - the day they buy it, and the day they sell it. Which is why Nathan and Jordan have invited Steve Prendeville of Forte Asset Solutions on to the pod this week. Steve's been a key part of the M & A landscape for financial advisers for long enough to give clear insights on: the multiples in the market - how much, and what they're based on the CRITICAL importance of cultural fit between buyer and seller who's driving

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50:18

S2E16 That SMSF Episode

Challenge the Standard in Financial Advice ·

2024/09/12

SMSFs - we've got a few thoughts on them. And, well, you should know before listening that those thoughts are really far from positive. In this week's episode, Jordan and Nathan do what they can to annoy those advisers out there using SMSFs responsibly. They don't do it deliberately - they're here to call out the rogues, the one-size-fits-all, conflict-heavy, bias brigade. But it gets...well, it gets a bit heated...so they also expect this one to generate a bit of a reaction. (And they look

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46:07

S2E15 - Retirement Villages

Challenge the Standard in Financial Advice ·

2024/09/05

This week's episode sees independent financial advisers Nathan Fradley and Jordan Vaka unpacking another very niche, very specific topic for their fellow financial advisers - retirement villages. Not Aged Care facilities, which are different again. But rather the over 55s, 'lifestyle', retirement villages becoming more and more popular with our on-the-cusp-of-retiring clients. They unpack: the drivers behind this increase in popularity some definitions and distinctions the tips and traps

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55:06

S2E14 AFCA with Shail Singh

Challenge the Standard in Financial Advice ·

2024/08/29

AFCA. All advisers will have an opinion on the ombudsman. Good, or more frequently, bad. But what if there's more to the story? What if, perhaps, AFCA has been a convenient boogeyman for people to throw at advisers as part of their compliance regime - "well, you know how AFCA can be, so you better put it in our 96 page SOA template, just to be sure". So Nathan and Jordan invited Shail Singh, Lead Ombudsman - Investment and Advice, from AFCA on to the podcast this week to learn more about AFCA. And

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47:23

S2E13 Snitches Get Stitches

Challenge the Standard in Financial Advice ·

2024/08/22

What do you do if a new client comes in, having received poor advice from another adviser? On this weeks episode Jordan and Nathan discuss the complexity that comes with dobbing in poor advice including Assessing if it is infact poor advice, Whether you should speak to the adviser yourself, Whether the client wants to do anything about it & If this consideration changes when you beleive this to be structural or systemic At the end of the episode the boys also sheepishly call out for votes on the

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112 results

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