Independent Advice

Michelle Griffiths joins us again to discuss what's happening with Family Trusts.  The news has been gloom & doom, however the fiscal landscape has been changing in this space for the past 10 years, and those changes are not restricted to just the current centre-left government, previous conservative governments have been making changes, and with that in mind, the usefulness of these vehicles will be strongly questioned should the proposed laws be passed by parliament this year.  Michelle asks all to start thinking and planning, not a bad idea, you may not necessarily do anything just yet, but understanding the horizon and what's coming will sure help.

Turns out the word "independent" is highly contenuous and the regulator has strict designs on what can and can't be said when we as professionals decide to call something, or ourselves "independent".  Michelle Griffiths from TAG Financial returns to our microphone to work through these definitions and understand the difference between independent advice and hollistic advice.  We also chime in with our discussion around "general" advice juxtaposed to "personal" advice, the differences are subtle at all, and as investors and those with interest in money, knowing those differences is important, both ethically and professionally.

We welcome back Andrew Inwood, CEO of CoreData - a leading research and strategy consulting company in financial services with global reach in 7 offices worldwide.  This week we venture back into what HNWI (high net worth individuals) are doing with their money.  Why?  Simple really, CoreData's research clearing tells us the rich/ultra rich are about 90 days ahead of the investing curve, so understanding what they're doing helps us mere mortals invest better and hopefully see the trends they are seeing.  What's interesting now is how AI is taking centre stage, and yes, there is still a place for a financial adviser in among the techology fest, here on Dollars & Making Sense.

Following on from the very popular interview with Nathan Hood at the Australian Shareholders Association on Investing with Artificial Intelligence, of course we had to do part 2!!  There are many skeptics out there and I am being converted now as a user of some of these engines.  We follow up my chat with Nathan, framing a question correctly, just like in real life, AI gives a solid reply, and we're starting to use microphones and talking to AI like a trusted advisor and assistant, while always in control..  And like the calculators or old, AI is no different to computers or the like - GIGO - garbage in garbage out still applies.  Tune in to find out more.

First things 1st - what is a reversionary pension?  Glad you asked and we're glad we have Stuart Sheary, subject matter expert from the Institute of Financial Professionals of Australia (www.ifpa.com.au) along to explain the pros and cons of having a pension in place and what it means to beneficiaries of the pension.  As we all meet our maker, the type of pension in place will have a marked impact on the beneficiaries, the tax implications and whether some pay tax, or no tax at all.  Some jargon and a few explanations later, Stuart helps sort through some of the detail so you can understand what decision may suit you. And as always, we recommend you chat your financial professional for detailed advice.

Limited Recourse Borrowing Arrangements (LRBA) are a popular tool for SMSF Trustees to invest in property, however new tax changes have recently been legislated from 10 Aug 2026.  So what exactly does this mean?  We welcome Stuart Sheary from the Institute of Financial Professionals of Australia (www.ifpa.com.au) back to the show to help explain what the changes to borrowing rules mean for SMSF Trustees contemplating using their super to borrow money to invest in real estate.  SMSF is complex at the best of times, add LRBAs and the new rules and you'll understand why we suggest you talk to professionals at all times.

Liz Moran, editor of Fixed Income News Australia (www.fina.com.au) joins us after a 3 year hiatus to rediscover government bonds.  Why?  There is panic in the bond markets at this time, and understanding why will also help all investors and citizens alike as to why they have such fundamental sway and impact to our everyday lives.  Ranging from petrol prices to mortgage costs and even your end of year holiday, and the exchange rate that either loves you, or buries you!  Tune in and find out about the canary in a coal mine, and how peaking government bond rates should be noticed and considered.

Jen Richardson, financial counselor, accountant and former financial planner revisits us to work through some cost of living issues.  Crisis? What crisis, we ask - there are many things we aren't able to control, but information is power.  Jen provides some great primers into how to get on top of, and control your finances rather than your finances control you.  Tune in to find out that every dollar has a job to do before it lands in your pocket, and how a weekly check and having the information changes the focus back on living and having fun.  Dollars & Making Sense is about financial education that frees you and your mind.

Thinking of bringing in Mum and/or into your home via a Granny Flat arrangement?  We welcome back Justin Bott from Services Australia to explain the old truism that "the devil is in the detail".  Having had first hand experience as a FIS officer, Justin has a wealth of experience to bring to our show about anyone considering entering into a granny flat arrangement.  It can be incredibly useful and helpful to all involved - if done correctly.  If not, you could be inviting the devils of Hades into your life with long term consequences for you and your entire family.  A show not to be missed if this situation is on your horizon.

How to teach your kids about money before the habits stick - great opening from our Financial counselor - Jen Richardson, joining us from her accounting practise in the Hunter Valley in NSW.  From an early age, instilling sound life habits around money and managing finances is important.  It doesn't always mean our kids have to be spreadsheet experts in kindergarten, however a grasp of understanding the principles of work/labour in return for money/rewards is an early lesson well instilled for our children for the future.  Associating transactions and work that correlate and coexist in relative harmony if understood.  Jen provides some excellent examples of how kids can learn to handle money from an early age right through to young adults.