#400 David Harris – Transcript

James Wrigley
Hello, welcome back to the podcast. I’m James Wrigley. And today I’ve got the pleasure of speaking with David Harris from Advice Evolution. We’re going to tackle the topic of changing licensees in a minute. But, David, thank you for joining me. Thanks for agreeing to come on to the podcast. Great to have you here.

David Harris
G’day, James that’s… Yeah, well, thanks. Thanks for getting me on. I you know, I look I like the whole concept of podcasts, we we do a couple of podcasts ourselves within within the license, and it’s a whole on sim ensemble ideal is really resonates with us. So you know, it’s great to be on board.

James Wrigley
Yeah, like, it’s a fantastic group to be to be part of the amount of sharing and so forth that goes on whether it’s in the on the on the web app there in the community, the podcasts that go out, it’s it’s a big machine these days, and then the PD day that’s coming up on Friday, this little this, this podcast will probably go live after the pay the day has been held. But plenty people coming on to that too. So thanks. Thanks for joining me. I guess we we tend to like to start the podcast with a bit of looking back in on your career and so forth. I was saying just before we started recording that I that I had a look at your, your LinkedIn profile. And it talks a little bit about couple of things that you did start off in military and when I when I read the line there about some time in the military, that there seems to be a quite a fair few people in financial advice that have gone on to a level of success in different forms in financial advice that have come from the military. So to maybe talk us through your your work experience and what’s gotten you to where you are now.

David Harris
Yeah, James I originally Yeah, I did some time after school like, you know, we need to go and train and I found the military life quite exciting. It’s a it’s one of those things where you’re living with your friends, you’re traveling, your fear, you’re just doing all of the incredible things every single day. And it was amazing, but it’s a single man’s job. I met my my current wife, and we were deciding to about where we’d settle and have children. But my mother had my mom had a little insurance business. Up in Guyer, actually in northern New South Wales. She basically rang me up and he said, I’m leaving, you can have it if you want, I’ll leave it on the desk and sort of we had a bit of a discussion about that my wife was working through one of the funders in, in the city, and Rothschilds, I think at the time, and we were backed up and moved to the country, which was pretty exciting. But it was just basically it was agenda gi book, essentially with a little bit of risk ins and you know, those complex super policies that were going around back in the day. And so we took over that and that was as financial planning was getting going and I did my big one for six, I think one week in one week in Sydney. I was let loose on the on the public video, I had a pretty successful practice in financial planning, there are quite a few years and and as I was telling before, I tried to, we used to work on the actual business side of it and work out what change we could actually do into our business to make it more profitable and make it contemporary. You know, we were doing saw files and all that sort of stuff. 15 years ago, the we were shocked to hear when and then one year we we put our put it all together, we shopped it and somebody bought it. So I retired 12 years ago, 1213 years ago, and some very good friends of mine, Grant Simpson and Anthony Steadman rang up and said, Look, David, we need to get out of our vertically integrated current licensing model, can you help us? You know, can you run the license for us so we can can still run our practice? You know, it’d be couple of days a week, six or seven advisors? It’d be easy. They said, I think we’re sitting at just under 70 advisors now and 46 practices. So it’s a little bit busier than I thought.

James Wrigley
So had you had sort of prior to going out and setting up advice evolution? Had you had any experience in on the licensing side of financial advice? Well,

David Harris
I was I ran the so we were in financial wisdom, which was one of the CBA licensees at the time. And I was actually on the I was the chair of the advisor forum, because we’re companies. And so I got a little bit of an insight as to what they were doing, albeit that license was a juggernaut. And it was quite large there a while and, you know, there was all the influence of the mixed licenses because Commonwealth combat had count, I think that stage and pathways and CBA financial planning, but I did get a really good insight as to what was going on.

James Wrigley
Okay, and so a lot of the bank licenses have, in one way, shape or form being kind of wound down as, as as financial advice has moved on over the last few years from another royal commission and all the rest of it. Do you get a sense of where most of those people have have landed? Where are they licensed now a lot going on their own lots join groups like yours, like where were people getting the losses from these days?

David Harris
You look it’s a funny thing, James and I look it’s a mixed they’ve gone to a lot of places a lot of guys have tried it on their own, that there’s some bigger ones some of the bigger, independent style all licensees, I think they ended up going forward, I think they will realize that it was time to go out, not many of them fell back to what to the IWF or to the a&p style model. And so that’s, that’s what we found we, we being as naive as we were, at the time, when we started up, we we had a couple of fund managers that we had a large piece of work with, put handcuffs on us, when we first started the license, and they said, Look, you need to stop stealing advisors from this location, otherwise, we will stop paying you and we went, can you do that, and we didn’t have the resources, the skills or the courage to take them on. So basically, we just they slap the handcuffs on us and we waited. Fortunately, it was faux fur at the time. And so for slowed everything down quite 60 significant. Later, after FOFA, after the FOFA rules died down a little bit, we had a bit of an influx of advisors, but they’ve actually been in over a five year period. I think in the larger version. Licensees didn’t help them a lot. There was a lot of rules, a lot of back testing of their advice, that fee for those service, there was just a lot of punishment. And so the advisors that come out and they’re just gun shy, scared. Yeah, just not trusting of anybody. And that’s it’s just, you know, it’s it’s made that difficult for them to fit into the old collegiate environment that, you know, we we remember licenses has been so we’re trying to sort of rebuild that. Bed. Yeah. Ultimately, we took a beach wagon people. Yeah, just at the end of FOFA. But video, they’ve gone to a lot of places for them to go

James Wrigley
into, which is good. So so when you first started out with it, how many years ago? Did you start the license?

David Harris
2001 says 12 years?

James Wrigley
Yep. And just a few people, three or four people at the start.

David Harris
There are two practices. Okay. So there was two practices that we spoke about. But then we actually we had a few others. So there was a group in Queensland, for five practices in Queensland, just individual advisors that joined up with us and a couple in Melbourne. And that sort of got us going. And we sort of realized that. So when we started looking further afield and recruiting, I remember our target was 18 or 18. So we weren’t 18 rises in 2018.

James Wrigley
And you’re certainly 70 or so now. Yeah. Right. And how many, how many firms is that?

David Harris
4646? Let’s look the the difficult thing was at the moment is that advisors are finding it hard to like because they’re leaking from the industry. You’ve got people leaking steadily from the bigger ones model than going self license, but actually looking into other licensee spaces is, is hard for them. Because it’s just, it’s I find I’m sitting with licensees that are completely different to us. But we all tell the adviser the same story, and the heartbeat is for them to work out who to believe. And and it’s so difficult to change licensees. Yeah, you don’t want to do it too often, no, and will offer you obviously, if you do it too often that shows up on the far register your clients go, Hey, why you guys watch this

James Wrigley
professor look a little bit a little bit funny doesn’t be able to stand to ask what’s going on here. It

David Harris
is, it becomes just becomes difficult. And, and that’s that’s just like any sales sort of guide. But, you know, we’ve tried to put our Spiel together and we try to be true to it. As is pretty simple, because, you know, we’ve sort of set up a thing that we can deliver on, and now all of our advisors are completely aware of it as well. So we’ve got, you know, a reasonably different offering, which is good.

James Wrigley
And now as I was reading on your website, do you have a model where the advisors that are operating on their license can ultimately own part of the licensee business? Is it something that you’re doing? Yeah,

David Harris
that’s exactly it. Jason, that’s one of the thing. So we built our business on four pillars, one of the pillars is equity and control, what we allow is that they have to control their own business, they have full control of their business, but they’ve also got they can have equity in the license if they wish. Now it’s not compulsory, and they still have to buy it at whatever the market rate is at the time. But what I find is now that once I’ve got it, you know, this was the way we we built it in the first place, if I’m coming to see you as the advisor, and I’m doing my supervisory check, or we’re doing, you know, a file check or something like that, you’re actually want to be more involved. And you’re you’re actually saying to everybody, what about this, you need to be looking into this face, because you’re worried about the license just as much as I because we’re all and it makes it just really makes it much more pleasant when you’re going to visit your business partners, as opposed to that object, draconian master servant, sort of type of arrangement that you used to when a licensee

James Wrigley
you’re kind of dreading when the auditor comes in, if ya know, what are we what are we looking for now this kind of thing, but you’re you’re involved with it. As a business owner, that makes a difference?

David Harris
Yeah, absolutely. And they’ve got a good way. Everyone’s still got quite a strong work. We got to have that many Microsoft safety to the unit holders in the unit, trust that answer the licensed answer, and say you’ve still got a pretty loud voice.

James Wrigley
So let’s get into the process of changing changing license as we as you mentioned before, as you comment and decide something you you don’t want to do too often. If you can, if you can avoid it. So if you’re looking to change a licensee, you ideally want to try and get that right to begin with. But maybe we can start to get into the process. So we spoke before we started recording, I have no idea about what’s involved in changing a license. I’ve worked in this business for 15 years or so we’ve, we were self license, we went to someone else on our South license again. But that’s something that’s something that someone else has dealt with not not not me. It’s not a single advisor, practice here. So So what’s the process involved in, in changing a license? I’m sick of these group that I’m working with, I want to come and join you what, what happens? Where do we even start?

David Harris
So it’s a it is a reasonably convoluted process. Fortunately, we’ve got a, we’ve got a team, specifically that I ended up doing that in that, you know, we outsource a lot of our business to the Philippines. But we’ve been doing that for eight years now. So we’ve got a couple of people that have been there for the whole process as though they know how to do this really, really well. But the idea is to find out what you really want, and you’ll find out and you’ve got to look carefully into the actual license that you’re looking at. And so, for example, we we, you know, we put our put ourselves out of there not having a conflict, you know, admittedly we still pay risk Commission’s or accept risk Commission’s but apart from that, you know, we don’t have any alliances with any any product. And the reason to do that, because one of our pillars is no conflict. But what you got to do is look at the new license and say, Well, you know, are they pushing the into upon who’s actually paying the license? is, are they are they subsidized completely by advisor fees? Or is it a product supplying it and that sort of stuff, so he couldn’t do your due diligence on your license. And I think that’s really important. Understanding how many people have left it, you know why getting a referral from getting a, having a gun to someone who’s actually in the license has a similar practice to you, which is, is a really, really valuable, valuable tool. But then once you’ve got to do is once you decide what license you’re actually looking at the heartbeat is you’ve got to resign. So you’ve got to pull your representative authorized rep agreement out and have a look at what they’re going to put on you when it comes time to resign, how much notice you’ve got to get an all that sort of stuff. Some licensees get really angry, and like they know, I’m going to make this as hard as I possibly can. And they start putting hoops in. Some of them say, oh, cool, you know, we’ll help you out. We don’t want to bad, we don’t want a bad taste in anyone’s mouth. And we don’t want you to tearing around saying yeah, this is a horrible experience. So they, they’re reasonably amenable. But so the next step is yet so you finally resign, and then they’ll come into you. And I’ll give tell you what you’re gonna require in your, in your transfer, your standard transfer agreement and your transfer agreement, they’ll need you to write your clients to sell them that they’re leaving, some of them will want you to put on a copy of your files, and some of them will put a requirement for you to do new SLA s ID clients. And that’s the interesting one, that one, that’s the complicated one, some people like to do it, some people don’t, but you’re still being sort of pushed around a little bit, then there’s the matter of just moving all of the codes coming over and any software. So if you’re being an ex plan person, and then you people use advisor logic or they don’t use anything, then you have to decide what you’re going to use as your CRM in the future. easier these days, I think, because we have less clients much easier because we have less clients and you don’t have that much of a trial. The product providers are really slow in moving your money over. And they’ll keep paying the old licensee for a couple of months just because they’re hopeless. But as a general rule, most of the money comes across reasonably quickly.

James Wrigley
So just on that, that advice requirement there. As I said, I had no experience really in changing license from one to another. Or there’s some new licensees that won’t require you to issue a new statement of advice under the new license to your existing clients. Absolutely.

David Harris
It seems to me that it’s somewhat draconian and barely in the client’s best interest for them to get in, we’ll have to write out this new SLA, especially if the advice is still current, and the advisor is still the same. So that’s generally it’s the outgoing wire, which will ask you to do that. So they’ll say, let’s put in a an NSL. Anyway, because they want to transfer the liability, or PII thing. So if I keep the PI’s on my license, then I’m on the hook for that advice. As long as it exists on that SLA. When there’s a new SLA it moves the risk to Peiris to the new license.

James Wrigley
So that’s it. So that’s the break of if I’m going from licensee a to licensee b in terms of the insurance part. It’s when the new SLAs issued is that that

David Harris
Yeah, well, that’s the advice. Yeah. So it’s a it’s a funny one, I don’t sure it has been tested. But if you right, so if you’re exiting licenses, you have to do a SLA on all of your clients, and you don’t do it. And if there’s a complaint or one that you didn’t do, then the liability would fall back to the previous licensee where they could say But hang on. You sold it signed a contract to say that you do an SOA, so I don’t know what it actually happened.

James Wrigley
I always thought the advice requirement was the new licensee. But it’s as more the old one wanting to sever the liability right rather than rather than the new one taking over why Pei

David Harris
broker tells me you don’t want them to do so.

James Wrigley
The liability less risks with the other group, not your horse. Yeah. Okay. And then all

David Harris
it’s so few Pei brokers big insurers at the moment, I think the US still carrying the risk, and

James Wrigley
we’re has just get into it in a minute, but seems like the PI insurance just keeps going up and up and up each each year. So how does that work? How does that work for advisors in in your, in your licenses, is that that cost, I would assume gets passed through to the advisors.

David Harris
Now we know we pick the PII up as a group policy, and we pay it. So we include it in your licensing fee, we just wanted to keep your licensing fee quite simple. So we just have a flat fee and I and I’m going smaller is not a sliding want us to sustain it, we just have a small percentage base one. And we call this the percentage one base one is just generally based on that’s the percentage base costs that we’re going to have to incur things like PII, and that sort of stuff. And so he would just make that even across the board. And then a flat fee. To keep it simple. We got something to peel I think that for me is just it’s a little bit out of control. Because we’re burying the pie into rows, it’s still gunshot from the banks and the fee for their service and all the things that they got they get punished with and it’s gonna be like see, compensations gave a last resort will be ASIC Levy. The Pai, we’re still paying for a really rough patch. And I’d argue that most of the licensees that elected the moment weren’t, weren’t responsible for a lot of that damage. But we still have a bill. Yeah. But yeah, that’s, that’s that’s work.

James Wrigley
What, what is an endless not necessarily in your business, but just in general? Because there’s there’s a lot of us looking through Ensembl. And some of the questions around licensing that people have been asking prior to us recording this and lots of people talking about different prices from their licensee, you know, someone’s saying these are some maybe older comments, but someone’s saying that, you know, they’re paying 40,000, someone’s paying 50,000, someone’s paying 60,000, it seems like quite a quite a big range of of assays that people might be paying per per advisor. Do you have a sense of what I want an average licensee fee might be per advisor?

David Harris
No, I look, I think we’re I think we’re a little bit on the cheap side. Yeah, we charge 30 grand plus 2%. But and that covers everything you have a lot of otherwise do. They’ll charge a flat fee or just a flat fee, but then add on pie and add on some other costs, depending on on what kind of you know might have the ASIC levy separate and that and that sort of thing separately. So there’s a number of different costs along the way and maybe different software. The other thing to remember too, is it does that fee is yes, a lot of cases that fee can be generally subsidized by a product. So if you’ve got your own SMA or your own by a big licensee that has some product, then that fee could be subsidized, or at least your licensee starts income could be subsidized by the by the product. And so that’s my that helps them depends on who the profit is. You know, look, there’s all this talk in the licensee world about how licenses can’t make money. You know, I don’t my board would probably get upset with me for publicly saying this, but we’re quite profitable. So, first of all, as I said, the majority of advisors that shareholders and those shareholders, we still return, what a reasonable profit. Yeah.

James Wrigley
I saw that on your website earlier. The question I asked you about it at the, with the advisors being part owners of the license, somewhere on your website, you know, I read that you’re focused on having a high profitable standalone licensee business that’s not necessarily subsidized by other other things that needs to be a standalone business in its own right. And then you invite some of the advisors along to be to be part owners of that business if they wanted

David Harris
that. And as soon as they do that, then if we, you know, if they’re complaining about the fees, then obviously, that they’re picking it up in the profit margin is it’s a, you know, it’s a it’s, it’s still, it’s still helpful. I mean, we’ve always we started that it’s funny in the licensee level, because we’ve got a couple of times a couple of approaches to bias, and eight, that’s what a lot of advisors are finding at the moment by going to the fear about going into a midsize Boutique is that they’re getting gets bought by, you know, one of the big players and all the sudden you’re back in the five W’s. And we’re back in the fire. We we decided to have board we actually decided to put a couple of caveats on the fact that we can be bought. And so if someone does buyers, they still have to adhere to our four, four pillars, which are no conflicts, which we spoke about before we want to have maybe make money off of a product. We equity and control which we spoke about. And obviously their client advisors can have equity and yeah, they’ve still got they’ve still got full control of their own business. An interesting one is that we don’t mandate so when I made it, any software or any rules, so if we can you can justify as an advisor that it’s within the regulatory guides and within the Corporations Act, so we’re going to be what We’re going to be happy to support you in that we’ll actually resources to help you to do that. Because we don’t want to be, you know, where we a business partner, we don’t want to work. But the last one isn’t the interesting one. It’s that, funnily enough, it needs a lot of interpretation these days. But as we say that we trust you. So we trust the advice. Yeah, whatever they tell us, we try to

James Wrigley
be different. The other thing too, a lot of other places. So you mentioned there about you don’t, you know, not not too concerned about what software advisors are using? Is it mainly x plan is it was logic, you’ve got a bit of mix of stuff?

David Harris
Well, we know we originally started, we were picking up individual, individual advice. So individual advisor practices, and we were realizing that the cost of the Rex plan for a single practice and you’re not turning over that much money was was quite expensive. And so we were saying, Well, maybe I’m we hold a copy of x plane. And we’ve got a couple of people that run it. And because they’re only using it for two or three different models a year or even five or six will do the point. And so we just threw that in as part of our license. So we just actually started picking up a bit of a tech stack so that we could offer out to some of our some of our practices. So we so we offer a we put out a CRM, so we own a CRM, and it’s read, that’s how we do our pays, and all that sort of stuff. But apart from that, we’ve got jump outside the behalf of our practices don’t use a software other than the CRM. So you know, obviously I can deal with the clients. Because I found, you know, this is a we have quite a large resource in the Philippines, because I was finding back when we were looking at this and then building this up, the cost of software was, was getting ridiculous. And so I could actually throw labor at it more cheaply than I could buy the tech stack. And then that became, you know, part of the practical way of doing it. So we just we put labor on it.

James Wrigley
So in terms of writing the advice in a field where the businesses are going down the video route or doing the old word document PDF. SOA is. So that’s being written in the Philippines, rather than being generated through an x plane license and then tidied up, it’s being written elsewhere.

David Harris
No, but most most of the plans are done in onshore. So we’ve actually we encourage advisors to you you to outsource to their own people in Australia, we found the Philippines paraplanning service and offshore powerplant, we didn’t find very good dip. And again, it was more software dependent. There’s a couple of big, big services in Australia that don’t need any software at all. Just fill in form, you just write down your strategy, do you your your comparisons, or whatever you want to do, and you flick it to them? Or do you plan on whatever software they work you do, okay, so you don’t need to have that software to run. The only thing that we’ve always found difficult is point of sale modeling. Now, a lot of advisors want to either have something in front of the client to show them or be able to quickly do some models after the meeting so they can come up with the most appropriate strategy. And that’s, that’s always been hard to get good modeling software, that’s just everything’s tapped in with, you know, 50 other helicopter services that don’t necessarily make a lot of sense. Yep. When used.

James Wrigley
So then that said, in the data transition, that, you know, I guess we’ve kind of talked about what’s involved in the process is understanding what your old licensee has in terms of how long your resignation period is, and what’s required from them whether you need to issue new advice. There’s the data transition. So if I’m coming from an X plan, I will use x plane here. So I’m kind of familiar that if I’m coming from an X plan world, where all of my client records and phone numbers and CRM and everything’s stored in there, what’s the data transition like to your systems? Well, so

David Harris
we use works ordered, they’re a mobile ad later. They’re pretty good, pretty simple. But they’ll just, they’ll ask you to get an export from x plan. And then they’ll coded up to go into there’s I think it’s about 1500 bucks each way. Yeah, let me explain. I’ll charge you about 1500 bucks, and then the new one will charge you better again, $100 to put in, but generally these dates are data’s or better here, with, you know, we got really scared years ago, and I still I still hold the same feeling is that I want to hold my own data, like I need the CRM to sort it and control it and be able to do my mail outs and things but things like all of my documents that I sent to clients, and you know, everything that I hold with regard to client, I want to keep that myself, you know, we encourage things like a dropbox so you know, or OneDrive or something like that, that you’re actually in control of, and you just keep the data that you need in the CRM, because

James Wrigley
that’s resonating with because he kind of ended up it ended up then almost trapped into that CRM where we use EHC plan everything’s in x plan, we regenerate advice and explain we do modeling and explain the clients phone numbers in x plan the last 10 years worth of anything that we’ve sent to the client in x plan and so for unexplained turns or enters are we increasing your license fee by 50% is like oh, well, he just kind of just have to kaput, but

David Harris
yeah, you’re not nimble enough either. move to somewhere else. I think the biological becomes great or Pluto sauce out of Western Australia becomes really, they become the best, which it’s hard to. It’s really difficult when you’ve got to draw a line in the sand and say, Okay, I’m just going to pause everything there and do everything going forward, because often it’s the best way to do it.

James Wrigley
So what do you think the timeframes are? Then if we look like there’s these different areas of main or main areas of things that need to be dealt with, in the end, you mentioned, the platforms and so forth will take their time in switching advice or codes over to the to the new licensee, but what are your what? What do you think the time period might be of me saying, Hey, I’m going to leave wherever whatever licensee I am to being up and running on on the new one, what do you what do you think the time period might be?

David Harris
I’d say you could reasonably easily expect to do it in four to six weeks. Yeah, right. And most and most, most licensees only have a 30 day termination clause on their on your license. So it’s generally pretty easy to move across. So from that perspective, it’s not too bad, then it’ll be probably another 90 days before all of your money starts coming across to you. But as my base payments, teams all make sure that their money comes across, and they get that sorted out. So it just takes a little bit of headspace. And once you got in there, you got to make sure that you spend a day or two per week getting the thing done, and not getting cooked up in your in your normal advice things because it’s the I think it’s the investment in time to make it. I’ve never had sign though, who’s moved across and that this is any license, even in my experience that that was the worst thing I ever did. from a time perspective. Yeah, I think yeah. Because generally, the reason that you move in is because there’s something there that’s not working. And if that’s not working, it’s gonna stay not working forever. You know, the distribution teams gonna say I know how to take care, James, it’s fine. It will be it’ll be all good. But but at the end of the day, it’s still going to be niggling at you, whatever that is for for in perpetuity. So you know, it’s time to as they bite the bullet, get the job done. If you look at a quieter time, maybe something that it’s a little bit quieter, like February or something like that, when things are going crazy.

James Wrigley
Yes, it is. Do you do then on your side of people joining your license? Do you find this a busier time for people joining you through through the year?

David Harris
Now it’s completely random. A lot of people think, oh, no, I’ll change it 30 June, and I do everything I can to say don’t do that sort of work this time. Well, it’s not so bad these days. But it used to always be that you’re quite busy, 30 days it’s up, it’s it is generally a busier time, because there’s a lot of reviews come up around that time, what we do is that, you know, I’ve just decided that to go, I want to make it as easy as possible. And we’re trying to, I’m looking at talk to business partners. So I didn’t only throw with as much resources as we can. So we have a deal to some my support team in the Philippines is specifically designed to help practices we hit, each advisor gets 10 hours of free back office support each month, we just throw that in. And so we actually use that resource to get you across. So they’ll get your FSG up to running and your business cards. If you’re still using those, you’re making sure all your documents, your websites and that sort of stuff are done. So because again, we have that expertise. So we do well hold your hand, we got a girl that’s really good at it, and she holds your hand as you come across. But depending on who you’re going to help the level of service. I think a lot of a lot of licensees at the moment have quite comprehensive off boarding teams. It’s not it’s not such a big onboarding.

James Wrigley
So it doesn’t look like I appreciate the chat because it doesn’t it doesn’t sound as scary as what I thought it would have been. So from from some of the posts that I’ve read on on Ensembl. And just talking to others in the industry, I got the sense that changing license was was was this big, scary task that’s never ending and is when are we going to see the end of this thing, but it doesn’t sound like it’s quite as daunting, maybe I’m not as scared. Now, I haven’t spoken to you, I guess, then what

David Harris
I think is depending on where you want to go to JC somebody, licensees have a lot of rules. And if they’ve got a lot of rules, it’s going to take a while to begin. But if you’re going to someone who’s a little bit more booty, which you know, most of the new licensees are, then they’re gonna make it easy for

James Wrigley
anything else that we haven’t covered that you think would be a value.

David Harris
I look, I think we’ve covered just about everything. But the only thing is that and I read some stuff over the weekend that we are aware of the big push at the moment is to try and get get it to a place where all of our advisors are working solo for a client. And what I’m saying is that is that so they’re not working for an AFSL and they’re not working for a product. And if we push in that space, you know, we’re going to be you know, we’re going to get to the place that we want to be that’s kind of aligned with what everybody wants around here. But I think it comes back to each individual advisor not trying to influence the, you know, Steve Jones or trying to influence everything else. Just get to a point where you can work for your client without any restrictions.

James Wrigley
Sounds like a deal place to be. Look David, thank you for joining me this morning to record this if anyone wants to reach out to you work. We’ll put some some links to your website and stuff in the show notes but working now When can people find you? They want to reach out?

David Harris
Advice evolution. So we’re trying to stave it at advice evolution and you haven’t broke up in my team and everything get up and we should be able to Google so I think we’re doing some stuff in Google at the moment. We might come up

James Wrigley
here we early upon the top of the search thing there.

David Harris
Yeah, but I know we will we definitely all in listening of the the, the ensemble PD day you guys got big shoes to fill up the last year that was such a such a big event last year.

James Wrigley
Well, it’s moved as as the by the time this is this has gone live that the event will have probably happened. It’s moved somewhere else. I’m gonna Assam in Melbourne, but I’m gearing up for it. On Friday. It’s at a different hotel somewhere or other hubs, you got to work out where to get how to get there from the airport. But yeah, as I was talking to Emily, and it’s a whole in an even bigger production than than what the last ones were. So I’m looking forward to see what they’ve got organized. Shouldn’t be a good day.

David Harris
It’s an Outstanding, outstanding resource for us, but for the for the advice world. Definitely Valley beat the Tech Advisors for sure.

James Wrigley
Yep. Thanks, David. Good to chat with you. Catch up with you another time. Thank you