Here’s what you need to know this week: 

1. Something to celebrate! IFA has announced the finalists for the Women in Finance awards and our very own Karolina Kuszyk made the cut. We think she’s pretty great, but don’t take our word for it – you can watch an interview with her here.

2. The shift is on – HUB24 group executive, Nathan Jacobsen told Money Management that the supply and demand gap in advisory isn’t getting any better. “It’s estimated in 2025 there will be 3.1 million households in Australia which will require financial advice and will be able to afford it but what is currently happening with advice in terms of the exit versus the new entrants means that advisers will be able to service in the traditional way only two million of those households,” he said, adding: “So there is a huge gap which is emerging which is not a great thing for our country but into that gap is where I think innovation will respond with practices innovating and finding way to be relevant to low-value clients,” Jacobsen said. More here.

3. That supply and demand gap is only widening – $120bn in client money abandoned in the first half of 2020 as more than 1000 advisers leave the industry. More here.

4. How do you decide? There’s a great piece on Forbes this week which covers how to choose the right financial advisor. Factors to consider: What area of your financial life do you need help with? Do you need investment advice? Debt management? Maybe retirement planning? Look for someone who specialises in the areas you need help in.

5. But it ain’t all bad– These uncertain times are causing many advisers to push for positive change. Great podcast this week featuring Kim Payne, managing director of 9rock Consulting, with IFA host Sarah Kendell. More here.