David Boyar began his career at ChangeGPS having utilised the software as a part of his own business and realised it’s full potential for accountants across Australia. “I called up Tim the Founder, and GPS has been around for a decade; and I just asked mate what’s the vision here, because I can’t believe how much success I’ve had using this, every accountant should be using this. So I flew up to Brisbane and ended up joining a technology company!” The rest as they say his history.
Now David is General Manager of Growth at ChangeGPS and continues to closely watch the Australian financial advice sector as it continues to adapt to changes from the Royal Commission and COVID-19. One of the biggest things he’s seen change amid these tricky times has been the way accountants communicate with their clients, as well as advisers. David explains how accountants are typically viewed as being more reactive with their clients, sometimes having less control of the client relationship than a financial adviser may. What he’s seeing is a widespread adoption of communication platforms like MailChimp which marks a change in the way accountants are approaching their client relations.
David also commented on the state of the Australian financial advice sector, noting that the market lacks an ability to educate Australians on the variety of advice and professionals they can seek out, leaving people with the perception that their choices are limited. “That’s where the accountants exception becomes really important. For an accountant to be able to say this the tax impact of your super contribution, by the way don’t do it, you need to go spend two-three grand to basically verify it, I mean it’s broken.”
Despite this David goes on to discuss some of the more optimistic developments coming out of the advice sector amid COVID-19. “I’m seeing accountants and advisers all in different buckets right now.” He explains that because of the variety of advice being given, and the circumstances clients are finding themselves in, there’s groups of professionals who will be incorporating this knowledge into their advice business to make their service offering more dynamic and attune to the needs of everyday Australians. “I don’t think we can wait and sit for a legislative instrument to give us the licensing requirements that we need.” David states that this is a clear opportunity for collaboration and partnerships within the industry.
When asked what technology he’s seeing being widely adopted, David returns to an earlier point around mass communication platforms like MailChimp holding strong value in maintaining strong client relationships. He’s also seeing the wide adoption of digital document signing platforms as a means for businesses to remain efficient in this time.
Touching on the myprosperity wealth portal, the two discuss how the digital document signing feature has exploded in usage in recent times whilst also mentioning the newest feature soon to be released, Rooms, which will exist as a collaboration tool for professionals to work together on any client goal. Stay tuned!
You can view Chris and David’s full conversation here.