Are advisers at risk of losing wealth across generations?

Financial planners are being urged to consider what happens to their business models if they fail to ensure that the wealth they currently advise on stays with the firm as it is passed down the generations.

A host of reports over the past few year have identified a growing need for advisers to come up with ways to ensure families and children of existing clients are well served and stick with the firm as the typical baby-boomer client bank ages.

As one of its 11 trends to watch in a report in July last year, SEI noted that the size of the traditional client bank of over 50-year-olds is a highly competitive space in wealth management, but because even most new clients are in their fifties and younger generations lean on the Bank of Mum and Dad more and more, areas like estate planning must be at the forefront of advisers’ minds.

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Source: https://www.moneymarketing.co.uk

Credi Partner

Protect your trusted relationships.

Credi Partner is a comprehensive loan management system, adding to the Credi suite. Quickly administer loan agreements on the Credi Partner platform on your client’s behalf – enquire now.

 

Tech Exchange 2018

We are co-sponsoring the Tech Exchange in Melbourne and Sydney (fully booked) this year. We cordially invite you to the event that will start at the CPA Australia in Southbank on the 16th of August at 7:45 AM.

Our CEO Tim Dean will be giving a presentation on “How do you deal with informal loans in business” in connection with an interactive exercise at 1:45 PM.

You can register for this event for free:

By attending this presentation, you will learn how to:

• Give high-value business advice that preserves family wealth and relationships
• Identify the most effective tax treatments for informal loans
• Minimise the risk of default and prioritise family lenders before other creditors

Be introduced to new ideas and how to use technology to improve efficiency and add value to your business, allowing you to focus your attention on your organisation’s objectives.

Did you see Credi CEO – Tim Dean’s interview for CPA’s InTheBlack?

Image Source: intheblack.com

We all want to help out where we can when it comes to family but it’s important to have the right documentation in place in order to stop potential heartache and risk of default.

“Tim Dean, founder of cloud-based loan documentation (and management) service Credi, believes a simple paperwork process, which keeps both parties on their toes, is the answer. The idea of going to a lawyer to draw up an agreement would not excite most parties, Dean says, and yet documentation will remove that uneasy conversation about last month’s missing repayment. Dean’s site has a loan-builder module which, he says, can do the complicated maths and present the loan in an easily digestible package.

“Some people deal in rates, while others say: ‘I’ll lend you A$100,000; you can repay me A$101,000 back in two years’ time’. Others may want monthly repayments. The platform can handle all the different scenarios,” says Dean.”

Source: www.intheblack.com

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The newest addition to Fintech Australia’s board Tim Dean Credi’s CEO

For the newest addition to Fintech Australia’s board, the name of the game is helping WA find its place.

Tim Dean, founder and CEO of relationship-based lending app Credi, will join the board of Fintech Australia following CrowdfundUP founder Jack Quigley’s departure.

Fintech Australia is the fintech industry’s national body, providing everything from networking to advocacy.

Tim said he’s hoping to help WA fintechs, who according to EY currently make up 9% of the industry nationally, carve out their own niche.

“[I’ll] be meeting in August [with the CEO of Fintech Australia] to nut out a whole bunch of initiatives that bring fintech in Western Australia into the fold on a more inclusive basis, but also … to develop some initiatives that give fintech WA its own identity,” he said.

“Having an identity is useful because everyone needs a role to play, and it can be a home for a relationship with Asia, then that suddenly can build as a core strength to its offering.”

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Source: www.startupnews.com.au

At What Age Are Entrepreneurs Likely to Find Success?

Silicon Valley’s tech workers can go to great lengths to appear youthful—from having plastic surgery and hair transplants, to lurking in the parking lots of hip tech companies to see how the young and promising dress, as chronicled a few years ago by the New Republic.

“There’s this idea that young people are just more likely to have more valuable ideas,” says Benjamin Jones, a professor of strategy at the Kellogg School.

But is this notion accurate?

“If you look at age and great achievement in the sciences in general, it doesn’t peak in the twenties,” he says. “It’s more middle-aged.” Even Nobel Prize winners are having their breakthrough successes later and later in life, Jones found in earlier research. Are the startups of Silicon Valley really an exception?

Source: https://insight.kellogg.northwestern.edu/article/younger-vs-older-tech-entrpreneurs

 

 

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Credi’s Tim Dean joins Fintech Australia board

Stone & Chalk head to lead FinTech Australia board

The not-for-profit organisation representing Australian fintechs has elected Alan Tsen as chair of the board.

Mr Tsen, who leads fintech co-working community Stone & Chalk Melbourne, replaces the retiring chair, MoneyPlace CEO Stuart Stoyan, who had taken on the role at the start of the year following the departure of FinTech Australia founder Simon Cant.

Along with Mr Stoyan, FinTech Australia said that Natalie Dinsdale, Lucy Lui and Jack Quigley are also departing.

The board of directors now include Mr Tsen, Tim Dean, Emma Weston, Luke Howes, Paul King, Melissa Mack, Niels Maartens, Lauren Capelin and Carla Harris.

The lobby group claims that, with a ratio of four women to five men on the board, it has “exceeded” its gender diversity requirements.

FinTech Australia last month announced the appointment of Uber’s former head of public policy and government relations, Brad Kitschke, who replaced Danielle Szetho.

At the time, the organisation said that one of Mr Kitschke’s priorities as CEO will be to drive FinTech Australia’s advocacy to introduce an open banking regime, which will require banks to provide customers and third parties with access to customer data where permitted.

The new CEO also said in May that he will be promoting the nation’s fintechs, which have grown from 100 companies in 2014 to nearly 700 by the middle of 2017, as “genuine” alternatives to major industry players, especially after damning revelations of inappropriate conduct during the financial services royal commission.

 

Source:https://www.mortgagebusiness.com.au/breaking-news/12360-stone-chalk-head-to-lead-fintech-australia-board