Australia’s Privacy Act: What it means for IT teams

It can sometimes seem like an overwhelming majority of Australians are happy to surrender their privacy to access the delights of Facebook, LinkedIn, Instagram, Snapchat, Twitter, YouTube, and Tinder. But regardless of their personal preferences and online behaviour, this nation’s stringent Privacy Act obliges organisations to tread carefully when it comes to collecting, storing, and

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Using security best practices to market your business

While there’s still a lot more to be done, most Australian businesses now acknowledge the importance of protecting data through security best practices. Let’s assume the business you work for boasts business security systems and equipment far superior to its competitors. In this scenario, your business is likely leaving money on the table if it’s not trumpeting its

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10 predictions for the future of work

1. Bring your own device Say goodbye to company-supplied phones, tablets and computers, and hello to a wide spectrum of personal devices. 2. Why not choose your own workspace too? By 2020, oDesk predicts that one in three people will be hired to work online from anywhere they want. American Express asks all new employees to take

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How to improve customer retention

With commission structures changing customer retention is about to get a lot more important, writes Nigel Bowen. Come January 1, a three-year process will start that will see upfront commissions progressively reduced to 60 per cent by January 1, 2020. Trail commissions will be doubled from 10 to 20 per cent. Among other things, that

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Disruption is coming to healthcare – are you ready?

How to adequately futureproof your business Healthcare professionals have largely been shielded from the disruption visited upon those working in many other industries. But Mahesh Roy, National Segment Head of Healthcare at Macquarie Business Banking, says the disruption that’s agitated so many other sectors will soon impact the healthcare industry. Two things Roy doesn’t see

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Who would be a financial adviser?

Being a financial adviser is a noble calling. But you can lose your sense of purpose. There’s an ever-shifting regulatory and business environment to navigate. Criticism, much of it ill-informed or misdirected, from media and politicians. Suspicion from the general public. Not to mention all the frustrations and disappointments which come with any form of

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Seven books to unlock your creativity

In a changing world, success increasingly comes to those who can devise the most creative solutions to pressing problems. Here we profile seven books to help you reset your thinking, up your flow and tap into your inner creative. History shows that the best way to produce ‘great’ rather than merely ‘good’ ideas in business

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The unbreakable strength of a positive workplace

How do you stay positive amid massive change? Two coaches give their answers to Nigel Bowen. Given legislative changes affecting everything from remuneration to required qualifications, financial advisers can be excused for feeling disheartened. But as Cecily Moreton and Vanessa Fudge point out – both psychologists and respected executive coaches who’ve worked with financial advisers

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How the robo-advice revolution will play out

Advisers are worried about being automated out of a job. Nigel Bowen asks if those fears are justified. Key points Robo-services will expand the market, not make advisors redundant. In the short term, robo-advice will suit lower-income-earning clients. Millennials and Gen Z may embrace robo-advice in a big way. Robo-advice – technology that can advise

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Your perspective will save you in tough times

You’re not wrong to feel under pressure but don’t allow yourself to be overwhelmed. There was never a golden age of financial advising when the regulatory environment moved at a leisurely pace and politicians, journalists and the general public praised those who help people realise their financial goals. But, as Financial Planning Association chief executive

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Corporate volunteering? Doing well by doing good

Corporate social responsibility sounds like an excellent idea but in practice it often goes straight into the too-hard basket. Here’s how taking your staff away from the daily grind can save your business in all the ways that matter. Increasing profits is the aim of almost every business on the planet. Letting your staff donate

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How to meet your new standards

Nigel Bowen sourced some expert tips on how advisers can best adapt to their incoming requirements. In the next seven years, financial advisers are in for some major changes. While the Financial Adviser Standards and Ethics Authority is yet to clarify all the details, here’s what’s been legislated to occur: From 2019 new financial planners will

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