It’s the two of us here. We’ve got this wonderful relationship with our parent, The Commonwealth Bank, who gives us the strength to be able to make a difference to businesses. That’s a great partnership for us to have with Financial Wisdom. At the same time we’ve got a partnership between Financial Wisdom and the practices. We are big enough to make a difference, and we are small enough to care.

We find that it’s that sharing. We find it’s that ability for other advisers to see what other advisers are doing is the way that they can respond to be open to improvements in their business but where they can put that knowledge into action. Because that really means something, when you’re in front of a client as an adviser, that you know you can sort of rely on that financial wisdom network to help you in your business.

Financial Wisdom practices are quite often the first ones to notice something that either needs fixing improving or notice an opportunity that could be there for more. Now, by virtue of the relationships that we have with practices, they let us know. By virtue of the strong relationship and collaborative relationship we have with our financial wisdom adviser forum, which is our representative body for the advisers, we are able to take things through to the highest powers inside the bank to get things done.
That’s a really great relationship for us, but a really great position for our advisers to be in, because they know that through the internal relationships we have, we’re not too far away. We’re only one or two steps remove from absolutely making something big happen at the highest levels.

Our approach to regulatory reform training in the lead up to FOFA is a great example of where the strength of the bank has been sort of really shown in how much training and how much support we’ve had for our practices. We would have done, nationwide, over a hundred days of training just to support our practices hitting the FOFA starting line at a sprint. So, great opportunity for our practices to benefit from the size and the scale of the training that we’ve been able to do for that change.


It’s the two of us here. We’ve got this wonderful relationship with our parent, The Commonwealth Bank, who gives us the strength to be able to make a difference to businesses. That’s a great partnership for us to have with Financial Wisdom. At the same time we’ve got a partnership between Financial Wisdom and the practices. We are big enough to make a difference, and we are small enough to care.

We find that it’s that sharing. We find it’s that ability for other advisers to see what other advisers are doing is the way that they can respond to be open to improvements in their business but where they can put that knowledge into action. Because that really means something, when you’re in front of a client as an adviser, that you know you can sort of rely on that financial wisdom network to help you in your business.

Financial Wisdom practices are quite often the first ones to notice something that either needs fixing improving or notice an opportunity that could be there for more. Now, by virtue of the relationships that we have with practices, they let us know. By virtue of the strong relationship and collaborative relationship we have with our financial wisdom adviser forum, which is our representative body for the advisers, we are able to take things through to the highest powers inside the bank to get things done.
That’s a really great relationship for us, but a really great position for our advisers to be in, because they know that through the internal relationships we have, we’re not too far away. We’re only one or two steps remove from absolutely making something big happen at the highest levels.

Our approach to regulatory reform training in the lead up to FOFA is a great example of where the strength of the bank has been sort of really shown in how much training and how much support we’ve had for our practices. We would have done, nationwide, over a hundred days of training just to support our practices hitting the FOFA starting line at a sprint. So, great opportunity for our practices to benefit from the size and the scale of the training that we’ve been able to do for that change.

WE'RE ABOUT HELPING PEOPLE. THERE'S A WHOLE TEAM BEHIND YOU.

A great advice practice is built on relationships. We enable our collective of like-minded advisers to deliver an outstanding experience and create exceptional value for clients. At Financial Wisdom it’s about the human interaction; wisdom is leaning on and learning from each other. Our advisers and staff are committed to sharing their knowledge so we all can help make Australia wise. Listen to what our people have to say.

Cate describes how Financial Wisdom assists to help her advisers support their clients to achieve their goals and lifestyle aspirations through financial planning.

Cate Americano

Practice Development Manager Financial Wisdom

WISDOM IS LEARNING FROM EXPERIENCE : Cate Americano

Wisdom is the pinnacle, really. It actually means something to everyone within our team and within the group as a whole. So wisdom, to us, is that real sharing and collaboration of ideas and exchanging it amongst the team and nationally amongst the groups. So there's no holding onto it as your own. It's how can you actually share and impart that knowledge and to help it evolve to become something even greater than what it was from where it started. To be a financial planner and having Financial Wisdom is that real message of empowerment. It's how we make a difference to people's lives and put them in the best possible position that they can actually achieve what they've set out to do, so to help them achieve their goals and their dreams.

When Rudi speaks of a sense of family at Financial Wisdom you instantly appreciate the strength and support being part of greater entity bestows on a small business owner.

Rudi Kristiani

Owner Key Financial Planning

WISDOM IS LEARNING FROM EXPERIENCE : Rudi Kristiani

It’s a two way thing. We have a great culture on the Financial Wisdom side where I believe you know there’s really no competition -everyone has their own business and are happy to share ideas and improve what they’re doing, Then it comes back this way to your clients. And, those ideas, through your own business model, are shared back through your clients in a way that you believe will help them and it’s all just happy days.

We do the same thing as a profession, but we all run our businesses differently. Running a business can be scary at times. Am I making the right decision here or am I ... how should I do that smarter? So to be able to ring up your peers and ask questions saying: have you come across this before and how have you tackled it. That’s fantastic because knowledge shared is knowledge gained. So that’s been invaluable over the years. I have so many businesses around lots of different states that I can ring if I feel I need to ask a question and vice versa. 

For Amanda, wisdom is accrued through constant effort and innovation. She shares how it's very much a productive journey, rather than a final destination.

Amanda Penkin

Head of Risk Management and
Compliance, Financial Wisdom

WISDOM IS LEARNING FROM EXPERIENCE : Amanada Penkin

We understand the self-employed financial planner market quite well so we know that they need different things from a licensee to perhaps how an employed planner would operate. We also know that there's a number of different business models that might eventuate in a self-employed environment. We need to give each planner within our network, the opportunity to express themselves but also be able to express themselves in such a way that we know that we're going to get a quality of advice outcome and it's going to be safe from a legislative framework point of view.

I see wisdom as being a lot about quality as well, and you can't be quality overnight. We know that quality takes practice, it takes training, it takes dedication and commitment. It takes that longer view to say that I don't have to have instantaneous results; I can build on something and grow on something. It goes back to that whole idea of evolving, growing, developing, and improving with every step that you take along the path, along the journey.

So the different peer networks within Financial Wisdom actually give people the opportunity to mingle amongst people at their same level - so they can see the challenges and the tribulations that people are going through, but also how they're learning and growing. It also gives perhaps a younger, more inexperienced advisers the opportunity to learn from the experience, the wisdom, and the knowledge of more experienced advisers. There's a tremendous amount of sharing that goes on within Financial Wisdom and advisers are very open to taking something, seeing if it works within their own practice, and then allowing other advisers to adopt that.

Greg talks about how financial planning benefits people and the unique way the Financial Wisdom network supports advisers.

Greg Cook

Co-founder and CEO Eureka Whittaker Macnaught


WISDOM IS LEARNING FROM EXPERIENCE : Greg Cook

It’s a relatively new profession and we’re not crawling over each other to take clients off each other. Because, most people out there can benefit from financial planning, but they’re not currently receiving it. The profession and the industry is at a relatively early stage. Really, it’s a matter of us looking at each other and learning from each other and finding out how can we help the community more in this area?

As financial planners, with clients, that’s a story you’re often telling your client. We’ll sort of sit down and think they know, they don’t everything. They know that, but they think they know 80 or 90% of what they need to know and they’re there to help get the remaining, ring the last 10% out.

There’s bits that they’re just not aware of that can save them tax or structure their portfolio better or whatever. And, I think sometimes financial planners that are running practices are sometimes a little bit like that and perhaps I’ve been guilty of it myself in the past. It’s only really when you sometimes get some outside expert advice or you seek that advice from your colleagues and financial wisdom, for example, that you stop and think gee, I wish I’d actually done this years ago and got this particular component of my business working at this right level, because it’s gotten rid of some headaches and it’s actually opened up new commercial opportunities for me or it’s helped me deliver better value to my clients.

Stuart talks about how the Financial Wisdom network has supported him to grow his business in Hobart. He details how Financial Wisdom has helped him achieve the right mix of business monitoring, branding, specialisation and advising skills.

Stuart Barry

Principal Adviser, Tas Ethical

WISDOM IS LEARNING FROM EXPERIENCE : Stuart Barry

The financial adviser community in Hobart is relatively small. And, we’ll often talk about dealer groups and what troubles or positives we’re having with our dealer groups. That’s quite an open conversation in the Hobart sense, being a small town. I’m always proud to say I’m part of the financial wisdom network, and talk about the benefits and the solutions, and the opportunities they’ve delivered me over the years and how they’ve managed to help me grow my business.

If the business financials working properly in the way that you monitor them, the appropriate branding in specialization, the appropriate staff and also skilling up personally. Getting me from my previous career to going up that pathway of developing key advising skills has delivered fantastic core outcomes for the business. I still live off all those foundation stones we put in place years ago.

Lyn outlines her business philosophy of having goals you believe in, committing to them, and knowing your investment will be rewarding.

Lyn Heasyman

Owner Harvest Wealth

WISDOM IS LEARNING FROM EXPERIENCE : Lyn Heaysman

Harvest Wealth is a small business in Mildura. We employ five planners. We’ve got a staff of 11 and we’ve been together as Harvest Wealth for four years. It’s been a wonderful journey. Financial Wisdom has grown with our business along the way. They were a business that was growing themselves and we’ve enjoyed a journey in partnership together.

They’ve grown immensely and they’ve brought wonderful tools to the table that have helped our businesses grow in a healthy way. One of the early tools that they handed to us was that they introduced us to business coaching and it was the best thing that ever happened to our business.

It’s a challenging story. We work with people to draw out what we really want out of our business, how we want our business to be run, and make sure that we’ve got the right people on the journey with you. We work really hard with these business coaches. It was an investment of four years and it took us a long time to get to the point where we were rebranding and building our systems in our business to provide efficiencies back down to our clients.

Wisdom is thinking to the future, but implementing the grounds of that thinking now.