The future belongs to advisers who consistently create the greatest value
Keith Marshall
The next generation of financial advisers will be defined by professionalism, leadership and trust, according to AMAFA Managing Director Keith Marshall.
Addressing delegates at AMAFA’s national conference in Hobart, Mr Marshall said that ready or not, the next chapter of the profession is already being written.
“Artificial intelligence and automation, regulatory expectations, fewer risk advisers, capacity constraints, succession pressures and clients expecting more value and greater clarity, are all reshaping our profession. The profession cannot stand still, but it can, and must, choose how it changes.”
Mr Marshall said clients have never had more information, choice, or noise – and therefore have never needed trusted advice more.
“Information does not create clarity, advice does. AI doesn’t build trust, people do. Technology may change how advice is delivered, but trust will always determine its value.”
He said the advisers who will shape the profession over the next decade will be those who deliver better advice, creating greater value for clients and leading them through periods of uncertainty.
“The future belongs to advisers who consistently create the greatest value,” Mr Marshall said. “Not those with the most products, the biggest office, or the most sophisticated software. The greatest value, delivered consistently, client by client.”
Mr Marshall said the message from the regulator is clear. “I read what ASIC says on a day-to-day basis. I think its expectations are actually very clear. They’re looking for better advice, better businesses, better protection and better leadership. That’s exactly what we want.”
Mr Marshall said AMAFA’s strategy is to help advisers build businesses that clients can rely on. “Our strategy is to have great systems and clear expectations. The aim is to help advisers build strong businesses, so that they have the capacity to do their best work.”
Advisers now face a choice, he said, between simply reacting to change or deliberately building businesses designed for the future. “The next chapter will not be written by technology, regulation or markets alone. It will be written by advisers who are prepared to lead.”
