1 00:00:04,019 --> 00:00:06,480 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean 2 00:00:06,480 --> 00:00:09,750 Sean Aylmer: Aylmer. Every day on Fear and Greed we recommend listeners 3 00:00:09,750 --> 00:00:14,010 Sean Aylmer: get professional advice before making investment decisions. It's something I 4 00:00:14,070 --> 00:00:17,820 Sean Aylmer: truly believe in because unless you're an expert yourself, a 5 00:00:17,820 --> 00:00:20,190 Sean Aylmer: financial advisor is going to be in the best position 6 00:00:20,190 --> 00:00:23,009 Sean Aylmer: to look at your personal circumstances and help you make 7 00:00:23,220 --> 00:00:27,450 Sean Aylmer: good objective decisions. But how do we make that professional 8 00:00:27,450 --> 00:00:31,380 Sean Aylmer: advice more affordable and accessible while maintaining the caliber of 9 00:00:31,380 --> 00:00:35,760 Sean Aylmer: advisors in the industry? Sarah Abud is the Chief Executive of the Financial 10 00:00:35,760 --> 00:00:39,240 Sean Aylmer: Planning Association of Australia. Sarah, welcome to Fear and Greed. 11 00:00:39,570 --> 00:00:40,769 Sarah Abood: Thanks very much, Sean. 12 00:00:41,400 --> 00:00:44,820 Sean Aylmer: I know why financial advisors are important. Can you tell 13 00:00:45,210 --> 00:00:48,811 Sean Aylmer: all our listeners why it is so important? It's a bit of a Dorothy Dixer. 14 00:00:48,811 --> 00:00:51,750 Sarah Abood: It is, but look, financial advice is really critical in 15 00:00:51,750 --> 00:00:54,870 Sarah Abood: the modern world. It's just too complicated to do a 16 00:00:54,870 --> 00:00:57,330 Sarah Abood: lot of this by yourself. If you look at the 17 00:00:57,330 --> 00:00:59,970 Sarah Abood: SIS Act, if you look at the tax act, trying 18 00:01:00,240 --> 00:01:03,510 Sarah Abood: to navigate these things is just very difficult for the 19 00:01:03,510 --> 00:01:06,630 Sarah Abood: average Australian. But I think it really boils down to 20 00:01:06,630 --> 00:01:09,750 Sarah Abood: you're better off if you see a financial advisor. And 21 00:01:09,750 --> 00:01:11,520 Sarah Abood: there is a lot of research and a lot of 22 00:01:11,520 --> 00:01:14,819 Sarah Abood: proof that is the case. And it's not just that well- 23 00:01:14,819 --> 00:01:18,810 Sarah Abood: off people see financial advisors, it's also that people who 24 00:01:18,810 --> 00:01:23,190 Sarah Abood: see financial advisors are better off. And look, there's so 25 00:01:23,190 --> 00:01:26,340 Sarah Abood: many studies Sean, that prove that. We did a recent 26 00:01:26,340 --> 00:01:31,170 Sarah Abood: study of financial planning clients late last year, and the 27 00:01:31,170 --> 00:01:34,920 Sarah Abood: stats were just out of this world. People believed that 28 00:01:35,610 --> 00:01:38,819 Sarah Abood: seeing a financial advisor certainly made them better off, but 29 00:01:38,819 --> 00:01:41,459 Sarah Abood: it also improved a lot of other things about their 30 00:01:41,459 --> 00:01:44,789 Sarah Abood: life. They said that seeing a financial advisor had helped 31 00:01:44,790 --> 00:01:47,670 Sarah Abood: their family life, it even helped their mental health. So 32 00:01:47,670 --> 00:01:50,940 Sarah Abood: the benefits can be well beyond just getting in control 33 00:01:50,940 --> 00:01:51,930 Sarah Abood: of your finances. 34 00:01:52,410 --> 00:01:55,919 Sean Aylmer: Okay, so I mean, when I think of a lawyer, I need 35 00:01:55,920 --> 00:01:59,970 Sean Aylmer: a lawyer for wills for example, and some legal work. 36 00:01:59,970 --> 00:02:02,460 Sean Aylmer: Accountant, I kind of understand why I need an accountant. 37 00:02:02,700 --> 00:02:04,590 Sean Aylmer: When do you need a financial planner? Where do they 38 00:02:04,590 --> 00:02:06,390 Sean Aylmer: sit in that spectrum? 39 00:02:06,930 --> 00:02:09,600 Sarah Abood: Well, look, we'd say the earlier the better because a 40 00:02:09,600 --> 00:02:13,350 Sarah Abood: good financial planner is a good coach. They can get 41 00:02:13,350 --> 00:02:15,930 Sarah Abood: you set up in the right way and make sure 42 00:02:15,930 --> 00:02:18,960 Sarah Abood: that you're making the right decisions for your life. But 43 00:02:18,960 --> 00:02:21,780 Sarah Abood: often people will seek financial advice when they have a 44 00:02:21,780 --> 00:02:25,800 Sarah Abood: particular trigger or a particular change in their life that 45 00:02:25,800 --> 00:02:29,370 Sarah Abood: really makes them start thinking about these things. And those 46 00:02:29,370 --> 00:02:33,210 Sarah Abood: triggers are often a job change or a redundancy. They 47 00:02:33,210 --> 00:02:36,870 Sarah Abood: might be getting married, they might be getting divorced, having 48 00:02:36,870 --> 00:02:40,350 Sarah Abood: a child, starting to think about retirement. It's often those 49 00:02:40,350 --> 00:02:43,710 Sarah Abood: sort of life triggers that lead someone to seek out 50 00:02:43,710 --> 00:02:44,970 Sarah Abood: a good financial advisor. 51 00:02:45,540 --> 00:02:47,370 Sean Aylmer: It's kind of a good point. I've sat in the 52 00:02:47,370 --> 00:02:50,309 Sean Aylmer: same office, we shared office space with a financial advice 53 00:02:50,310 --> 00:02:53,790 Sean Aylmer: firm, and I remember when share markets tumbled, their phones 54 00:02:53,790 --> 00:02:55,320 Sean Aylmer: ring nonstop. 55 00:02:55,500 --> 00:02:55,620 Sarah Abood: Yeah. 56 00:02:56,100 --> 00:02:59,220 Sean Aylmer: Often not nice phone calls, but just in time times 57 00:02:59,220 --> 00:03:01,650 Sean Aylmer: like we've seen in the last 12 months, sort of post- 58 00:03:01,650 --> 00:03:05,790 Sean Aylmer: Covid. But with markets falling, do financial planners get busier? 59 00:03:06,570 --> 00:03:09,000 Sarah Abood: Yes. Look, I think you're right, Sean, that people have 60 00:03:09,000 --> 00:03:12,300 Sarah Abood: a natural concern if they see their balances going down, 61 00:03:12,300 --> 00:03:15,480 Sarah Abood: if they see the share market very volatile, they see 62 00:03:15,480 --> 00:03:19,830 Sarah Abood: inflation spiking up, it's natural to want to talk about 63 00:03:19,830 --> 00:03:22,710 Sarah Abood: that and to want some reassurance from someone who really knows 64 00:03:22,710 --> 00:03:25,980 Sarah Abood: what's going on. And it's certainly the case that financial 65 00:03:25,980 --> 00:03:29,100 Sarah Abood: advisors will be getting more calls from clients right now, 66 00:03:29,490 --> 00:03:32,430 Sarah Abood: just checking in I think that their investment strategy is 67 00:03:32,430 --> 00:03:35,730 Sarah Abood: still right for their needs and it still fits for them. 68 00:03:36,450 --> 00:03:39,600 Sean Aylmer: Okay, so let's come to the cost of financial advice 69 00:03:39,600 --> 00:03:44,610 Sean Aylmer: and legislative changes over the last 10 or 15 years has certainly 70 00:03:44,760 --> 00:03:49,800 Sean Aylmer: not helped the industry attract clients, often because people don't 71 00:03:49,800 --> 00:03:52,410 Sean Aylmer: want to pay upfront fees. Now, Sarah, I got to 72 00:03:52,410 --> 00:03:55,860 Sean Aylmer: say upfront, I actually believe in commissions. I think they 73 00:03:55,860 --> 00:03:59,580 Sean Aylmer: provide an incentive that works the right way, but many 74 00:03:59,580 --> 00:04:03,000 Sean Aylmer: financial planners can't charge incentives under legislation. How do we 75 00:04:03,000 --> 00:04:05,820 Sean Aylmer: fix all this mess where people actually don't think it's 76 00:04:05,820 --> 00:04:09,780 Sean Aylmer: prohibitive to go and pay money to a financial planner? 77 00:04:10,650 --> 00:04:13,860 Sarah Abood: Yeah. Look, Sean, it's certainly the case that financial advice 78 00:04:13,860 --> 00:04:16,140 Sarah Abood: is a lot more expensive than we would like it 79 00:04:16,140 --> 00:04:19,080 Sarah Abood: to be. The sorts of numbers that we're seeing now, 80 00:04:19,080 --> 00:04:21,600 Sarah Abood: they've gone from sort of three and a half thousand 81 00:04:21,600 --> 00:04:24,419 Sarah Abood: on average a year or so ago to now being 82 00:04:24,420 --> 00:04:27,990 Sarah Abood: north of $ 4, 000. And that's a decent chunk of 83 00:04:27,990 --> 00:04:30,360 Sarah Abood: cash for a lot of us. A big part of 84 00:04:30,360 --> 00:04:33,750 Sarah Abood: the reason why the price is going up is because 85 00:04:33,750 --> 00:04:37,229 Sarah Abood: of the regulations that have changed so rapidly and so 86 00:04:37,230 --> 00:04:40,589 Sarah Abood: many of them, particularly in the last three years, the 87 00:04:40,589 --> 00:04:43,440 Sarah Abood: compliance costs to run an advice business and to give 88 00:04:43,440 --> 00:04:46,740 Sarah Abood: a piece of advice to a client has become rapidly 89 00:04:46,740 --> 00:04:50,580 Sarah Abood: more in the last couple of years. So we're working 90 00:04:50,580 --> 00:04:54,240 Sarah Abood: with the government which is instituted and is running a 91 00:04:54,240 --> 00:04:57,810 Sarah Abood: review called the Quality of Advice Review. And that review is 92 00:04:57,810 --> 00:05:01,320 Sarah Abood: intended to find ways that we can get more affordable 93 00:05:01,320 --> 00:05:05,130 Sarah Abood: advice to more consumers. And that advice has got to 94 00:05:05,130 --> 00:05:08,010 Sarah Abood: be of good quality and in the interests of consumers. 95 00:05:08,130 --> 00:05:11,130 Sarah Abood: And a big part of the initial recommendations that we've 96 00:05:11,130 --> 00:05:14,670 Sarah Abood: seen, we haven't seen the final recommendations yet, but the 97 00:05:14,670 --> 00:05:17,370 Sarah Abood: ones that we've seen so far we think would go 98 00:05:17,370 --> 00:05:20,040 Sarah Abood: a long way towards helping get those costs down by 99 00:05:20,040 --> 00:05:23,490 Sarah Abood: reducing all the red tape and compliance that goes into 100 00:05:23,490 --> 00:05:24,750 Sarah Abood: generating advice. 101 00:05:25,290 --> 00:05:28,500 Sean Aylmer: So what are some of those recommendations that you've seen? 102 00:05:29,040 --> 00:05:33,300 Sarah Abood: Well, one example is that advisors disclose their fees potentially 103 00:05:33,300 --> 00:05:35,730 Sarah Abood: up to nine times now in the first year that 104 00:05:35,730 --> 00:05:38,969 Sarah Abood: you engage an advisor. And no one would contest that, 105 00:05:38,970 --> 00:05:41,760 Sarah Abood: it's really important that you understand exactly what you're paying 106 00:05:41,760 --> 00:05:45,179 Sarah Abood: and from whatever source. But nine times is getting a 107 00:05:45,180 --> 00:05:49,950 Sarah Abood: bit ridiculous. So the Quality of Advice Review is recognizing 108 00:05:49,950 --> 00:05:52,650 Sarah Abood: that there's some duplication in the current laws. And it 109 00:05:52,650 --> 00:05:55,469 Sarah Abood: does propose that some of those documents no longer be 110 00:05:55,470 --> 00:05:58,800 Sarah Abood: required. Now, as I said, that doesn't mean that consumers 111 00:05:58,800 --> 00:06:01,710 Sarah Abood: won't still know exactly what they're paying, they will, but 112 00:06:01,710 --> 00:06:05,190 Sarah Abood: they won't see that information repeated over and over and 113 00:06:05,190 --> 00:06:09,120 Sarah Abood: over again. The other big change that this review is 114 00:06:09,120 --> 00:06:12,989 Sarah Abood: proposing, at least in its interim changes, are that the 115 00:06:12,990 --> 00:06:17,670 Sarah Abood: document called a Statement of Advice, that its legislated elements 116 00:06:17,700 --> 00:06:21,150 Sarah Abood: be repealed or not be required anymore. So this is 117 00:06:21,150 --> 00:06:24,360 Sarah Abood: a document that anyone who's engaged a financial advisor would 118 00:06:24,360 --> 00:06:27,270 Sarah Abood: be familiar with it. I mean, it's always been pretty 119 00:06:27,270 --> 00:06:29,790 Sarah Abood: long, but recently many of them have gone over a 120 00:06:29,790 --> 00:06:33,839 Sarah Abood: hundred pages. And that's a lot of information to wade 121 00:06:33,839 --> 00:06:37,380 Sarah Abood: through. If you've just asked your financial advisor, " Oh, should 122 00:06:37,410 --> 00:06:40,200 Sarah Abood: I put extra money into my mortgage, or should I 123 00:06:40,200 --> 00:06:43,110 Sarah Abood: put more money in Super?" Some sort of fairly simple 124 00:06:43,110 --> 00:06:47,250 Sarah Abood: question like that. So the amount of documentation, and of 125 00:06:47,250 --> 00:06:50,160 Sarah Abood: course clients pay for the cost of producing all this 126 00:06:50,430 --> 00:06:54,299 Sarah Abood: has just gotten well out of proportion to what is 127 00:06:54,330 --> 00:06:58,440 Sarah Abood: really required for a consumer to make a good decision. So we are 128 00:06:58,589 --> 00:07:01,950 Sarah Abood: really pleased that the review is recognizing this. And as 129 00:07:01,950 --> 00:07:04,860 Sarah Abood: I said, at least in the interim proposals, it's looking 130 00:07:04,860 --> 00:07:06,810 Sarah Abood: at winding that back so we can start to get 131 00:07:06,810 --> 00:07:07,770 Sarah Abood: that cost down. 132 00:07:08,100 --> 00:07:10,140 Sean Aylmer: Stay with me, Sarah, we'll be back in a minute. 133 00:07:16,260 --> 00:07:18,929 Sean Aylmer: My guest this morning is Sarah Abood, CEO of the 134 00:07:18,930 --> 00:07:23,520 Sean Aylmer: Financial Planning Association of Australia. Is there a system whereby 135 00:07:23,520 --> 00:07:28,380 Sean Aylmer: people of moderate income at best can get financial advice 136 00:07:28,530 --> 00:07:33,210 Sean Aylmer: and we can still have a financial planning sector, which 137 00:07:33,210 --> 00:07:35,790 Sean Aylmer: is sustainable? I mean, it's all great to complain about 138 00:07:35,790 --> 00:07:38,160 Sean Aylmer: the advisors charging too much, but they're running a business 139 00:07:38,160 --> 00:07:41,130 Sean Aylmer: here, so how do we get a system where people 140 00:07:41,130 --> 00:07:45,720 Sean Aylmer: who may earn 70 or $80, 000 can afford a financial advisor? 141 00:07:46,230 --> 00:07:49,200 Sarah Abood: Yeah, look that that's tricky, Sean, and this is probably 142 00:07:49,200 --> 00:07:52,170 Sarah Abood: the core question that the review is trying to address. 143 00:07:52,560 --> 00:07:55,230 Sarah Abood: Is it the case that we should be able to 144 00:07:55,230 --> 00:08:01,050 Sarah Abood: make typical financial advice that's provided by current financial advisors 145 00:08:01,410 --> 00:08:04,260 Sarah Abood: more affordable to the extent that someone in that kind 146 00:08:04,260 --> 00:08:07,950 Sarah Abood: of fairly classic middle Australia segment can afford it? Look, 147 00:08:07,950 --> 00:08:11,040 Sarah Abood: that's certainly our goal. We believe that we can get 148 00:08:11,040 --> 00:08:13,800 Sarah Abood: there or get very close by radically reducing the red 149 00:08:13,800 --> 00:08:17,250 Sarah Abood: tape, but we also need more people who can provide 150 00:08:17,250 --> 00:08:22,020 Sarah Abood: advice. Right now there's less than 16,000 advisors in Australia, 151 00:08:22,020 --> 00:08:25,110 Sarah Abood: and with a working- age population of about 16 million, 152 00:08:25,110 --> 00:08:27,450 Sarah Abood: I think it's just a bit north of that, those 153 00:08:27,450 --> 00:08:30,150 Sarah Abood: numbers are just not stacking up right now. So we 154 00:08:30,150 --> 00:08:34,110 Sarah Abood: are looking to increase the numbers of financial advisors who 155 00:08:34,110 --> 00:08:37,500 Sarah Abood: are out there and available to service our consumers. That's 156 00:08:37,500 --> 00:08:38,640 Sarah Abood: a really big goal of ours. 157 00:08:39,300 --> 00:08:41,819 Sean Aylmer: What about the professionalism of the industry? A criticism of 158 00:08:41,820 --> 00:08:46,140 Sean Aylmer: it over many years is that financial advisors don't have 159 00:08:46,140 --> 00:08:48,900 Sean Aylmer: enough formal training. Now, I don't have a view on 160 00:08:48,900 --> 00:08:51,360 Sean Aylmer: that, Sarah, one way or another, and I totally agree 161 00:08:51,360 --> 00:08:53,309 Sean Aylmer: that we need more advisors in the market that'll actually 162 00:08:53,309 --> 00:08:55,739 Sean Aylmer: push down the price for middle Australia to be able 163 00:08:55,740 --> 00:08:58,290 Sean Aylmer: to access as well. So all those things, but how 164 00:08:58,290 --> 00:08:59,910 Sean Aylmer: do we make sure, I mean, at the end of 165 00:08:59,910 --> 00:09:01,589 Sean Aylmer: the day, I want to make sure whoever I'm going 166 00:09:01,590 --> 00:09:04,140 Sean Aylmer: to is okay, I'm not worried about a uni degree, I 167 00:09:04,140 --> 00:09:06,840 Sean Aylmer: just want to know that they're doing what they say 168 00:09:06,840 --> 00:09:07,440 Sean Aylmer: they're going to do. 169 00:09:07,800 --> 00:09:11,309 Sarah Abood: Oh look, absolutely. And it's really, really important that anybody 170 00:09:11,309 --> 00:09:13,950 Sarah Abood: check that the person they're dealing with, the person they're 171 00:09:13,950 --> 00:09:17,970 Sarah Abood: taking financial advice from is registered to provide financial advice. 172 00:09:18,390 --> 00:09:21,390 Sarah Abood: That's really easy to do now because there's a Find 173 00:09:21,390 --> 00:09:25,170 Sarah Abood: a Planner website on the Financial Planning Association. You can 174 00:09:25,170 --> 00:09:28,260 Sarah Abood: find a planner who's a member of our professional association. 175 00:09:28,620 --> 00:09:32,010 Sarah Abood: You can also go to ASIC's MoneySmart website and you can 176 00:09:32,010 --> 00:09:34,500 Sarah Abood: look up your advisor there and see if they're registered 177 00:09:34,500 --> 00:09:38,309 Sarah Abood: and qualified to provide financial advice. And a lot has 178 00:09:38,309 --> 00:09:40,830 Sarah Abood: changed in that area, Sean, particularly in the last three 179 00:09:40,830 --> 00:09:44,819 Sarah Abood: years. So for people becoming financial planners, now they're required 180 00:09:44,820 --> 00:09:48,359 Sarah Abood: to have a university degree, and that tertiary degree has 181 00:09:48,360 --> 00:09:53,490 Sarah Abood: to be in financial planning specifically. All financial planners also 182 00:09:53,490 --> 00:09:56,939 Sarah Abood: are doing 40 hours a year of continuing professional development, 183 00:09:57,210 --> 00:10:00,300 Sarah Abood: and they've all passed a tertiary level exam in ethics 184 00:10:00,300 --> 00:10:03,270 Sarah Abood: as well. So those changes I think are such that 185 00:10:03,270 --> 00:10:07,199 Sarah Abood: we absolutely refer to financial planning as a profession. And 186 00:10:07,200 --> 00:10:11,191 Sarah Abood: consumers should absolutely have confidence in a qualified registered financial advisor. 187 00:10:11,191 --> 00:10:14,700 Sean Aylmer: Okay. I can't let you go, Sarah Abood from the 188 00:10:14,700 --> 00:10:19,290 Sean Aylmer: Financial Planning Association without mentioning the merger of your organization 189 00:10:19,290 --> 00:10:22,140 Sean Aylmer: with the Association of Financial Advisors, where's that upturn and 190 00:10:22,140 --> 00:10:23,340 Sean Aylmer: what's it mean for the industry? 191 00:10:23,640 --> 00:10:25,860 Sarah Abood: Yes. Well, it's a big day for us today, Sean, 192 00:10:25,860 --> 00:10:28,860 Sarah Abood: because just before we started talking we hit the button 193 00:10:28,860 --> 00:10:30,840 Sarah Abood: on our notice of meeting to members. 194 00:10:30,840 --> 00:10:31,350 Sean Aylmer: That's exciting. 195 00:10:31,710 --> 00:10:34,679 Sarah Abood: So we've just sent the information. We've actually been in 196 00:10:34,679 --> 00:10:38,730 Sarah Abood: member consultation on this proposed merger since the 1st of September 197 00:10:38,730 --> 00:10:41,700 Sarah Abood: last year. So we've been getting a lot of questions, 198 00:10:41,700 --> 00:10:44,070 Sarah Abood: a lot of feedback from members. And we've built all 199 00:10:44,070 --> 00:10:46,890 Sarah Abood: of that in to these final papers that have gone 200 00:10:46,890 --> 00:10:49,620 Sarah Abood: out. Look, we think this is just really important for 201 00:10:49,620 --> 00:10:52,440 Sarah Abood: our profession. We want to build a united voice for 202 00:10:52,440 --> 00:10:57,120 Sarah Abood: financial planning and a singular association that can really represent 203 00:10:57,120 --> 00:11:00,780 Sarah Abood: financial planning to consumers and the public and also to 204 00:11:00,780 --> 00:11:04,410 Sarah Abood: the government so that we're able to bring our point 205 00:11:04,410 --> 00:11:08,160 Sarah Abood: of view together and really talk about consistently what it 206 00:11:08,160 --> 00:11:10,380 Sarah Abood: is that financial planners can do and how do we 207 00:11:10,380 --> 00:11:13,620 Sarah Abood: help consumers. So we're really excited about that. The vote 208 00:11:13,620 --> 00:11:16,949 Sarah Abood: will be on the 28th of February, and I'm crossing 209 00:11:16,950 --> 00:11:19,410 Sarah Abood: my fingers and crossing my toes and everything that we 210 00:11:19,410 --> 00:11:23,010 Sarah Abood: will get the required majority which is 75% of votes 211 00:11:23,340 --> 00:11:24,870 Sarah Abood: in order to achieve that merger. 212 00:11:25,740 --> 00:11:27,420 Sean Aylmer: That was going to be my last question, but I 213 00:11:27,420 --> 00:11:30,330 Sean Aylmer: might have to have another one. Do you think government 214 00:11:30,330 --> 00:11:33,330 Sean Aylmer: fully understands the challenge for the industry? 215 00:11:34,050 --> 00:11:36,870 Sarah Abood: Oh, look, I think they do. And interestingly, Sean, I 216 00:11:36,870 --> 00:11:39,270 Sarah Abood: think both sides of politics are well aware of it. 217 00:11:39,270 --> 00:11:42,599 Sarah Abood: So the Quality of Advice Review that I mentioned earlier 218 00:11:42,600 --> 00:11:45,809 Sarah Abood: was actually instituted by the coalition government in the last 219 00:11:45,809 --> 00:11:49,950 Sarah Abood: term. And the current labor- led government have continued that 220 00:11:49,950 --> 00:11:53,040 Sarah Abood: review and continued with the reviewer. So I think there 221 00:11:53,040 --> 00:11:55,950 Sarah Abood: is a good understanding by government that we need to 222 00:11:55,950 --> 00:11:58,710 Sarah Abood: get the price of good financial advice down. We need 223 00:11:58,710 --> 00:12:02,370 Sarah Abood: to make great financial advice available to more consumers. So 224 00:12:02,370 --> 00:12:03,360 Sarah Abood: that's really pleasing. 225 00:12:03,840 --> 00:12:05,610 Sean Aylmer: Sarah, thank you for talking to Fear and Greed. 226 00:12:06,059 --> 00:12:07,140 Sarah Abood: Thanks so much, Sean. 227 00:12:07,770 --> 00:12:10,650 Sean Aylmer: That was Sarah Abood, Chief Executive Officer of the Financial 228 00:12:10,650 --> 00:12:14,069 Sean Aylmer: Planning Association of Australia. This is the Fear Andre Daily Interview. 229 00:12:14,280 --> 00:12:16,380 Sean Aylmer: Join us every morning for the full episode of Fear 230 00:12:16,380 --> 00:12:20,610 Sean Aylmer: and Greed, Australia's most popular business podcast. I'm Sean Aylmer. Enjoy 231 00:12:20,610 --> 00:12:20,970 Sean Aylmer: your day.