The conference was three full days of content and the agenda was jam packed! The sessions ranged from Technical and Legislation updates; updates from various fund managers and economists on the outlook for the economy and markets; as well as a variety of presentations regarding the use of technology and how this may be used in the future to keep clients more informed and how to make interactions with our clients more productive.
One of the more interesting sessions was around what advice will look like in the future. It’s estimated that in the next 5 years, there will be more working age Millennials than ‘Generation X’ and the needs and expectations of Millennials around advice and technology are vastly different to those of the generations before them. Some of the more interesting points, around what advice and technology will look like in the future, were:
- Millennials generally have goals that revolve around ‘experiences’.
- 40% of the workforce will be participating in the gig economy by 2020.
- 47% of jobs in the US are expected to be ‘at risk’ of being automated within 20 years.
- 2023 is the year experts believe the first implantable mobile phone will be available.
- 90% of cars will be connected to the internet by 2020.
- There are expected to be 10 million self-driving cars on the road globally by 2020.
Whilst the way we live and work may be changing, we believe it’s important to teach and educate our children about the importance of money from a young age. We recently posted an ebook on our website titled ‘How to Talk Money with Children’ which provides some great tips on teaching your children and grandchildren about money!. Please click HERE to access the eBook.
The Conference was held at the Sheraton Grand Mirage and in between some star spotting (the singer Pink and her family were also staying at the Sheraton!) there were also various social events – the highlight would have to be the Private Dolphin show we had at Sea World……a great place to visit with the kids next time we are on the Gold Coast!