Welcome to episode 54 of The Innovating Advice Show.
I’m joined by David Haintz, founder of Global Adviser Alpha in Australia which he started after a very successful exit from his prior firm in 2015. With a 30 year career as an adviser, David is now focused on his passion of helping global advice businesses become world class.
In this episode, we’re talking through the two areas where advisers provide client value, which David describes as below the line - the largely tangible elements like evidence based investing, benchmarking and rebalancing - and above the line, which are those valuable but intangible elements.
David shares how to add value both above the line and below the line and we discuss the seismic global shift happening in advisers moving above the line to a client goals and lifestyle focused coaching profession.
Humans Under Management virtual event happening 8th September: https://bit.ly/IAHUM2020
Tickets: R500, US$30, £23, AU$42.
David Haintz is a Certified Financial Planner (CFP) and a past director of the Financial Planning Association of Australia (FPA), in which time he was instrumental in the push for professionalism. He has had a 28 year career with his own firm and subsequently became a founding director of Shadforth Financial Group, with over 100 advisers; which was taken over in 2014 for $670m - at the time $13b FUM, $165m revenue and $58m EBIT.
In 2017, David launched a book titled The Life-First Advisor – How the new financial coach connects ‘money’ with ‘meaning’.
Having departed Shadforth in 2015, he has established Global Adviser Alpha – a B2B consultancy with a passion for helping leading global advice businesses become world class and achieve outstanding result for all stakeholders.
01:30 - Introducing David Haintz
03:22 - The difference between ‘above the line’ and ‘below the line’
04:50 - Maximizing your impact below the line
08:15 - Adopting an evidence-based investment philosophy
14:17 - Why cost is only an issue in the absence of value
16:00 - Moving above the line: ask your clients the right questions
19:09 - Rebalancing: having great presentations
20:09 - Benchmarking
21:31 - What an ideal ‘above the line’ advisor looks like
26:35 - How to know if you are above the line
29:35 - Articulating your value and going above the line
32:06 - Articulating your value above the line
35:25 - Expanding your audience: bringing the above the line experience to traditionally underserved people
38:25 - What can spur the shift around the world
41:52 - Some final thoughts