Todays Agenda Who We Are The Zeitgeist Understanding Demographic - PowerPoint PPT Presentation

Today’s Agenda  Who We Are  The Zeitgeist  Understanding Demographic Trends  How And When To Involve Dependents  Dealing With Death, Divorce And Disability PREPARED BY COREDATA SLIDE 2

WHO WE ARE LONDON SYDNEY PERTH BOSTON MANILA CoreData is a global specialist research and strategy consultancy, with a head office in Sydney, Australia. Our primary focus is providing clients with research insights to help their businesses grow. Founded in 2002, we are independently owned with the capabilities and expertise to conduct bespoke and syndicated research on six different continents. Our aim is to deliver clients with timely and actionable research and market intelligence that will drive transformational change in their business. PREPARED BY COREDATA SLIDE 3

EVIDENCE BASED RELATIONSHIPS WITH YOUR MARKET

The Planner’s Universe 5

DEALING WITH THE ZEITGEIST 6

Understanding The Zeitgeist Shadenfreude Kummerspeck Blausenpop Hubsgenik Backpheifgerisct 7

Dealing With The Now 8

What The Economists Think Monetarist Austrian School

THE RISE OF THE ANGRY 10

Why That’s Important 11

Making Maps of The Mind

Value is Hard Wired And Inescapable Cerebellum

The Endless Search for Value Prefrontal Cortex

What Makes Clients Happy? Value 42.1% Communication Overall Satisfaction Implementation This model predicts 20.9% 95.0% of the variance observed in overall Strategy satisfaction 18.7% Financial plan review process 9.8% 8.5% 15

1. UNDERSTANDING DEMOGRAPHY 16

What Are The Generations? Silent Generation Born Before 1945 Baby Boomers 1945 – 1964 Does everything that they can to avoid making a decision Gen X 1965 – 1976 Does everything that they can to avoid making a decision Gen Y 1977 – 1995 Does everything that they can to avoid making a decision Gen Z (Millenials – iGen Bore After 1996 Does everything that they can to avoid making a decision Does everything that they can to avoid making a decision

BUT IT’S LARGELY NONSENSE 18

It’s True, But It’s Nonsense Silent Generation Tom Brokaw Does everything that they can to avoid making a decision Baby Boomers The Bennington Banner Does everything that they can to avoid making a decision Gen X Douglas Coupland Gen Y Neil Howe Does everything that they can to avoid making a decision Does everything that they can to avoid making a decision Gen Z (Millenials – iGen) Neil Howe Does everything that they can to avoid making a decision

Want Some Proof? Through which communication channels would you prefer to communicate with the following service providers? (Main bank) Baby Generation Y Generation X Pre-Boomers Overall Boomers Email 44.4 61.7 53.6 43.4 52.5 Branch / In-person 34.0 29.1 42.2 42.8 36.3 Provider website 20.0 28.6 20.7 15.7 22.4 Phone 19.9 18.1 18.7 16.4 18.8 Smartphone 32.5 14.2 3.8 14.8 Tablet 10.9 8.4 4.2 7.0 Social media 4.8 1.4 0.6 2.0 Video conference 1.9 0.6 N/A 3.9 0.5 1.9 3.8 2.2 % Yes *Multiple answers allowed PREPARED BY COREDATA SLIDE 20

Want Some Proof? Through which communication channels would you prefer to communicate with the following service providers? (Main bank) Baby Generation Y Generation X Pre-Boomers Overall Boomers Email 44.4 61.7 53.6 43.4 52.5 Branch / In-person 34.0 29.1 42.2 42.8 36.3 Provider website 20.0 28.6 20.7 15.7 22.4 Phone 19.9 18.1 18.7 16.4 18.8 Smartphone 32.5 14.2 3.8 14.8 Tablet 10.9 8.4 4.2 7.0 Social media 4.8 1.4 0.6 2.0 Video conference 1.9 0.6 N/A 3.9 0.5 1.9 3.8 2.2 % Yes *Multiple answers allowed PREPARED BY COREDATA SLIDE 21

WHAT ISN’T NONSENSE 22

200 Years Of Data 23

All Men Are Not Created Equal Worrier Externaliser Avoider Controller All Decisions based on how it makes them Does everything that Just tell me the All Decisions based on look. They seek a they can to avoid numbers fear. They seek a coach brand. making a decision

All Men Are Not Created Equal Worrier Externaliser Controller Avoider 30% 30% 20% 20% All Decisions based on Does everything that how it makes them Just tell me the they can to avoid look. They seek a All Decisions based on numbers making a decision brand. fear. They seek a coach

All Men Are Not Created Equal Avoider Coach Seeker Controller Out Sourcer 30% 20% 20% 30% All Decisions based on how it makes them Does everything that All Decisions based on Just tell me the look. They seek a they can to avoid fear. They seek a coach numbers brand. making a decision

All Men Are Not Created Equal Coach Seeker OutSourcer Coach Seeker Controller (Relationship) (Information) $1,230,000 $895,000 $725,000 $830,000

A LAND OF OPPORTUNITY 28

You Can’t Escape Your Demographics

The Future Is Bigger Than You Think 30

HOW AND WHEN TO INVOLVE DEPENDENTS 31

Remember This Slide?

The Clue Is In The Data What else could your main financial adviser provide advice around, outside of what they currently provide advice on, to satisfy all your advice needs? 21 - 30 years 31-40 years 41-50 years 51-60 years 61 years old old old old old and above 23.7 Retirement planning 13.3 22.0 44.0 23.7 20.5 Tax 16.7 53.3 18.3 8.5 41.6 Aged care 15.6 23.7 Estate planning 6.7 15.3 16.7 20.2 6.8 Property investing 44.4 25.4 33.3 22.9 25.4 12.1 Investing 33.3 28.9 16.5 Family financial 18.6 17.9 15.6 8.3 matters Self-managed 10.0 20.0 15.3 13.8 superannuation Cash-flow 10.5 24.4 15.3 33.3 7.3 management Superannuation 18.6 8.4 33.3 11.1 11.9 (excluding SMSF) 13.6 9.5 Saving 33.3 31.1 10.1 6.8 Insurance 13.3 10.2 16.7 8.3 Business advice & 3.2 8.9 6.8 3.7 administration support 6.8 1.1 Debt management 20.0 3.7 6.8 4.7 Research 2.8 10.0 Other 2.2 8.5 16.7 7.3 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 % Yes % Yes % Yes % Yes % Yes 33

The Clue Is In The Data What else could your main financial adviser provide advice around, outside of what they currently provide advice on, to satisfy all your advice needs? 21 - 30 years 31-40 years 41-50 years 51-60 years 61 years old old old old old and above 23.7 Retirement planning 13.3 22.0 44.0 23.7 20.5 Tax 16.7 53.3 18.3 8.5 41.6 Aged care 15.6 23.7 Estate planning 6.7 15.3 16.7 20.2 6.8 Property investing 44.4 25.4 33.3 22.9 25.4 12.1 Investing 33.3 28.9 16.5 Family financial 18.6 17.9 15.6 8.3 matters Self-managed 10.0 20.0 15.3 13.8 superannuation Cash-flow 10.5 24.4 15.3 33.3 7.3 management Superannuation 18.6 8.4 33.3 11.1 11.9 (excluding SMSF) 13.6 9.5 Saving 33.3 31.1 10.1 6.8 Insurance 13.3 10.2 16.7 8.3 Business advice & 3.2 8.9 6.8 3.7 administration support 6.8 1.1 Debt management 20.0 3.7 6.8 4.7 Research 2.8 10.0 Other 2.2 8.5 16.7 7.3 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 % Yes % Yes % Yes % Yes % Yes 34

The Clue Is In The Data What else could your main financial adviser provide advice around, outside of what they currently provide advice on, to satisfy all your advice needs? 21 - 30 years 31-40 years 41-50 years 51-60 years 61 years old old old old old and above 23.7 Retirement planning 13.3 22.0 44.0 23.7 20.5 Tax 16.7 53.3 18.3 8.5 41.6 Aged care 15.6 23.7 Estate planning 6.7 15.3 16.7 20.2 6.8 Property investing 44.4 25.4 33.3 22.9 25.4 12.1 Investing 33.3 28.9 16.5 Family financial 18.6 17.9 15.6 8.3 matters Self-managed 10.0 20.0 15.3 13.8 superannuation Cash-flow 10.5 24.4 15.3 33.3 7.3 management Superannuation 18.6 8.4 33.3 11.1 11.9 (excluding SMSF) 13.6 9.5 Saving 33.3 31.1 10.1 6.8 Insurance 13.3 10.2 16.7 8.3 Business advice & 3.2 8.9 6.8 3.7 administration support 6.8 1.1 Debt management 20.0 3.7 6.8 4.7 Research 2.8 10.0 Other 2.2 8.5 16.7 7.3 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 0 20 40 60 80 100 % Yes % Yes % Yes % Yes % Yes 35