In this episode of the ifa Show, host Alex Burke talks to Marshan Consulting director Ben Marshan about AI in advice: where it works, what the risks are and how advisers can use it without running afoul of ASIC or the OAIC.

Ben discusses the rapid evolution of AI tools and the novel risks they introduce, particularly with regards to advisers' privacy obligations. He also explains the principles of responsible AI use recently introduced by the Financial Planning Standards Board and the ASIC letter that stopped him in his tracks.

Tune in to hear:

• Why AI adoption requires thorough testing and ongoing training

• A case study about what not to do when using AI in advice

• What ASIC wants practices to focus on when developing AI policy

In this episode of the ifa Show, host Keith Ford is joined by Nathan Fradley of Fradley Advice to take a look at all of the big topics that are impacting the financial advice profession, from AI and data security to AML/CTF and the CSLR.

Nathan breaks down why AI is both a powerful tool and worthy of some scepticism, how some of the change flowing through the sector is going to change the way that advisers work with their clients, and whether the Delivering Better Financial Outcomes reforms will improve how the profession operates.

Tune in to hear:

• Why data security is a vital consideration despite some links in the chain falling short.
• Whether there is any way to fix the Compensation Scheme of Last Resort to serve its intended purpose.
• Why, despite cost, levies and reform fatigue, financial advice is still a great career.

In this episode of the ifa Show, host Keith Ford speaks with Charlotte O'Meara, general manager of Falcon Financial Advisers, about her move away from her former role as head of responsible investment at Challenger to running an advice practice.

Charlotte unpacks the differences between being on the product provider side of the financial services sector and the advice side, how her understanding of client needs has evolved, and the expertise she can transfer across.

Tune in to hear:

• How Falcon is planning to accelerate its growth strategy with the "Falcon engine".
• What the biggest challenges of shifting to a whole new side of the industry are.
• How the firm is applying better processes, technology, and structured pathways for the next generation of advisers.