Case Studies

How to Change Lives and Build Client Engagement with Moneysoft

Jackson Millan knows what it’s like to help a client out of insolvency and get back on the path to home ownership. Moneysoft spoke to the Yellow Brick Road Dee Why principal and money coach about the power of budgeting and how he uses it to build a closer relationship with clients. Traditionally financial planning has been focused on investments and products while budgeting has been neglected. But isn’t that how most people get ahead and achieve their goals? I agree. A couple that came to us around a year ago had a problem with some unsecured debt. The wife …

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In the Media

Moneysoft enters new partnership with Mortgage Choice

April 11th, 2017: Moneysoft’s advice technology will power a new Mortgage Choice Financial Planning tool aimed at bolstering clients’ money management skills and helping them reach their financial goals. Mortgage Choice Financial Planning will offer the tool under the name of MoneyTrack as a part of their cash flow coaching service. Tania Milnes, general manager of Mortgage Choice Financial Planning, said the new tool will help its national network of advisers to enhance the affordable and transparent advice they provide to clients. “The introduction of MoneyTrack will provide a robust basis for the advice we currently provide to help manage …

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Case Studies

Meeting growing demand for budgeting and cashflow services

Brava Financial Services recognised that there was a gap in the financial advice market, in terms of providing something of tangible value to their clients that goes beyond having a conversation around a clients spending habits. As client demand for budget and cash flow advice was increasing, Brava implemented Moneysoft to complement their advice offering and saw the benefits of using a cash-as a service solution in their business. Financial Adviser, Adam van der Water, discusses how using Moneysoft has improved their engagement with clients. Financial planning is becoming more holistic. How big a role does overall money management play in this shift? Traditionally, it was directed more from …

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Adviser News - Blog

The death of robo-advice

Robo-advice promised to overthrow traditional financial planning models but the future hasn’t turned out to be quite so automated. It reveals a fundamental truth about the nature of advice according to Moneysoft’s Jon Shaw. In recent years, the financial planning industry has found itself in the spotlight for all the wrong reasons. Its quality of advice has been questioned but more often than not, regulations have raised costs rather than standards. Enter robo or automated advice. The lure of low-cost cloud-based technology, powered by sophisticated algorithms, promised to slash costs and bring a high-quality advice offering to more Australians at …

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Adviser News - Blog

Just one stop on the path to financial wellbeing

From Perth to Paraguay, we’re all speaking the same language when it comes to our financial wellbeing. But our ability to walk the talk is a different matter. Peter Malekas reflects on the evolving financial literacy journey and why it’s more important than ever for financial advisers to understand their clients. Knowledge is power, but knowing better doesn’t automatically translate to doing better. Financial literacy may be the term we commonly use but it’s financial capability that determines whether people reach their goals. The distinction may be subtle but common sense tells us that what people do often differs from …

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Blog - In the Media

Moneysoft grows team to strengthen capabilities

Moneysoft has boosted its capabilities as a leading provider of Personal Financial Management solutions with four key appointments. Miles Casbier and Indra Bhosale join Moneysoft’s sales team with a wealth of experience in financial services and client relationship management. Craig Fletcher joins the team to head up process and delivery management and Ann Cook joins Moneysoft’s marketing team to help drive growth and continue building the company’s strong presence in the financial planning market. Moneysoft MD and Founder, Peter Malekas said: “At a time when our business is experiencing significant growth, these key appointments allow us to bolster our overall …

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Blog - In the Media

Moneysoft analysis shows worth of financial coaching as personal debt reaches record levels

Moneysoft analysis shows worth of financial coaching as personal debt reaches record levels February 14th, 2017: High-quality financial coaching and automated tracking software can help Australians almost halve their discretionary spending, according to an analysis of Moneysoft’s client database. The ability to overhaul negative spending habits has never been more important as Australians’ total household debt recently reached a record 185 per cent of annual household disposable income. However, 101 Moneysoft clients working with a financial adviser were able to reduce their average spending on irregular discretionary items such as entertainment, travel, hobbies and existing credit card repayments from $11,400 …

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Adviser News - Blog

Cashflow as a service – the marketproof way to build wealth

Investment outperformance forms a key part of financial advice. But what impact can lifestyle changes, such as cutting discretionary spending, play? Investment returns may grab the headlines but saving can provide a greater bang for buck. It comes down to the mix of risk and return as the industry moves away from predominately selling investment products and increasingly towards goals-based advice. Investment success is about far more than outperforming a benchmark based on a client’s risk tolerance. That plays just a small role in helping people to build wealth in support of their specific goals over time, such as buying a …

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Blog - Smart Finance

The Connected Consumer

The age of technology has transformed almost every aspect of daily life. People are connected by more devices than ever before, with instant access to information, media, entertainment and each other around the clock. Aussies are embracing technology to become a tech-savvy bunch of consumers- and avid online shoppers to boot. The online revolution is reshaping Australians’ shopping and purchasing habits. Buying goods, paying bills and even booking services online are now the norm. Consumers are foregoing face-to-face interactions for the convenience and instant gratification of online exchanges. The 18th edition of Nielsen’s annual Australian Connected Consumers Report uncovered the following data about the nation’s online …

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Blog - Mind Over Money

Good Old Fashioned Tips for the New Year!

Christmas has come and gone yet again. Retailers rub their hands with glee after another bumper year, culminating in the inevitable silly season shopping spree. The latest figures from the Australian Bureau of Statistics (ABS) show a boost in retail sales in 2016, with an increase of 2.8% on the previous year. On the other side of the ledger, consumers nurse a lingering financial hangover from overspending. Then January 1st rolls around and we pledge to reform our ways — from fitness to finances — with a host of well-meaning resolutions. So, after a New Year’s Eve of fun, festivities …

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