Summary - AdviceTech Podcast 106 – Canwi

In an era when financial planning can feel both daunting and overwhelming, technology is evolving to bridge the gap between individuals’ aspirations and the sophisticated modeling required to manage money effectively. Many people—particularly those in their 20s and 30s—feel they have no clear roadmap on how to handle personal finances responsibly, ethically, and with a plan that adjusts as life inevitably changes. At the same time, the cost and complexity of traditional financial advice in many markets can be prohibitive for younger or less affluent demographics.

This article distills insights from a conversation between host Patrick Gardner and guest Cameron Drury (CEO and co-founder of CanWe), two professionals at the forefront of transforming the way individuals manage and plan their finances. Although their discussion emphasizes the easy, “drag-and-drop” features of CanWe’s modeling software, it also unveils a broader message: there is an urgent ethical need to make responsible, informed financial planning accessible and transparent. This article explores the ethical and professional dimensions of financial technology (FinTech) solutions like CanWe, how they can augment or precede professional financial advice, and why bridging the accessibility gap in financial literacy is not merely good business but also a social imperative.

1. The Modern Financial Landscape: Challenges and Opportunities

1.1 Financial Planning in an Evolving World

In many parts of the world, young people are confronted with substantial obstacles when trying to build and maintain wealth. Rising living costs, competitive housing markets, and constant lifestyle pressures—often amplified by social media—can leave individuals struggling to prioritize saving and strategic investments. As Drury notes, many people try to develop their own financial model or plan, usually by using Excel or Google Sheets. However, these tools, while flexible, demand a high degree of technical and financial literacy: factoring in inflation, taxation, loan amortization, and other contingencies is labor-intensive and error-prone.

This is where FinTech tools such as CanWe enter the picture. According to Drury, a key shortcoming in existing solutions is that they are either too technical or too restrictive, forcing users into unfamiliar terminology and workflows. Traditional, high-end financial planning software is more geared toward licensed professionals, which can make sense for professional advisors but less so for a layperson who just wants to map out a relatively straightforward life plan.

1.2 Professionalism and Ethics in Financial Advice

An essential underpinning of the financial sector is professionalism and ethics. From licensed financial planners to FinTech entrepreneurs, stakeholders must be vigilant about ensuring they act in clients’ best interests. In fact, many industries and jurisdictions have introduced strict regulations and licensing requirements for providing personal financial advice. That caution is there for a reason: missteps can affect people’s life savings and overall financial well-being.

Ethical Considerations:

1. Accessibility – A large segment of the population currently lacks affordable, digestible financial advice. Making tools more accessible is fundamentally an ethical move, as it ensures that financial literacy no longer remains a luxury for the affluent.
2. Transparency – Providing clear and accurate projections—explaining the assumptions behind them—is vital. Tools must make it obvious when a user is modeling “future dollars” rather than today’s value. Good FinTech solutions do not hide or oversimplify vital details about tax implications, interest rates, or inflation.
3. Responsibility to Users – Professionals in the financial services sector bear a strong ethical responsibility to guide users away from harmful decisions. Even a self-directed tool must incorporate disclaimers, protective guardrails, or prompts that steer users to reconsider decisions with high risk or unclear rationale.

In the conversation, Drury speaks about the hazards of relying purely on spreadsheets, especially for people who might not realize that overlooking inflation or not calculating interest correctly can compromise a plan. From a professional standpoint, bridging this knowledge gap ethically means creating a platform that teaches and empowers, without luring users into a false sense of security.

2. The Origin Story: Why the Need for a New Financial Tool?

2.1 A Decade of Building, Observing, and Consulting

Drury’s professional background involves years of consulting on large-scale financial advisory programs, including advanced initiatives with AI systems like IBM Watson. The early forays into “machine learning meets finance” exposed him to the potential of technology to address the shortage of personalized financial guidance. Yet it also highlighted potential pitfalls: advanced analytics must be deployed carefully, transparently, and with mindful attention to user comprehension.

In one major bank, Drury helped test how IBM Watson could engage individuals who might not ordinarily qualify or apply for one-on-one financial guidance. It was a bold step, but the technology was too nascent at the time. The lessons learned from such experiences reinforced how crucial it is to pair robust analytics with user-friendly design and ethically sound best practices. Another consulting role required Drury to be part of the team analyzing hundreds—if not thousands—of statements of advice for compliance. This exposed how easily poor or incomplete advice can slip through the cracks if processes or systems are not well regulated.

2.2 Personal Revelation: The Cost of Delay

One of Drury’s “aha” moments occurred when he and a close acquaintance reconnected several years after receiving financial advice in their 20s. Whereas Drury’s advice had suggested a more relaxed savings approach, his friend’s family recommended an aggressive property purchase and rapid loan repayment strategy. The difference in their net worth after seven years was staggering: Drury noted his friend’s property, valued near AUD 900,000, overshadowed his own comparatively modest savings.

Professionally, this gap triggered an ethical question: how many young professionals were being given subpar or incomplete advice? How many missed out on critical years of compounding and disciplined saving just because they lacked a resource or an advocate who could illuminate various options?

3. Introducing CanWe: A User-Centric Planning Platform

3.1 Bridging the Gap, Ethically

CanWe, as outlined by Drury, is a self-service financial planning platform designed with everyday users in mind. The central thesis is: if you make building a financial plan simple, intuitive, and even enjoyable, more people will do it. More importantly, they will stick to it.

Legally and ethically, it is crucial to understand that CanWe does not provide personal financial advice. That is an important distinction to keep the solution from breaching regulatory requirements, but also a philosophical one: users retain responsibility for their decisions, while the platform focuses on demystifying the complexities of future planning, thereby encouraging thoughtful and informed action.

3.2 Drag-and-Drop Simplicity

At the heart of CanWe’s offering is a real-time financial modeling engine. Yet the hallmark of the platform is its drag-and-drop life event calendar. Users can select templates for milestones such as buying a home, starting a business, having children, or planning an extended holiday—and drag those events onto a visual timeline.

Key Features of the Modeling Interface:

1. Real-Time Calculations – As soon as an event is placed onto the timeline, the underlying engine instantly recalculates long-term cash flow, savings, and net worth projections.
2. Suggested Inputs – The platform provides average or ballpark estimates for each event type. For instance, an approximate total cost for a wedding or a typical annual spending level for child-related expenses. Ethically, this helps guard against misinformed assumptions.
3. Scenario Exploration – Users can shift events around (e.g., postponing a child by two years, or accelerating a mortgage down payment by six months) and watch how the changes affect their future. This fosters an environment of informed consent, where individuals understand potential trade-offs.

This flexible timeline has significant ethical implications: by demonstrating how decisions compound over time, the platform encourages a more measured, less impulsive approach to big expenses.

3.3 Encouraging Transparency and Accountability

Financial modeling can be opaque, with hidden assumptions about taxes, interest rates, or inflation. CanWe addresses this by providing explainers and clarity prompts alongside certain data points. If a user sees a surprising outcome—like ending up with a smaller net worth in one scenario versus another—they can delve more deeply into the details. As Drury notes, the user can break down which calculations led to that outcome, ensuring that they understand the why behind the numbers.

Professionalism in Practice

From a professional standpoint, this transparent approach mitigates the risk of user misunderstanding. Rather than burying assumptions in fine print, responsible FinTech solutions aim to incorporate real-time guidance—making sure that as soon as you attempt to add a large expense, or decrease your savings rate, you see the immediate changes to your future outlook.

4. Staying the Course: Tracking and Refinement Over Time

4.1 Ongoing Plan Maintenance

A major failing of one-off financial advice, or even of an initial financial plan, is the assumption that life follows a fixed course. In reality, personal priorities shift, markets fluctuate, and unexpected expenses emerge. Drury remarks that even a six- to twelve-month timeframe can bring new circumstances that either derail or alter a previously ambitious plan. Consequently, a critical piece of ethical financial planning is staying engaged with the user as life evolves.

CanWe’s interface allows you to come back and “date-night” your finances, so to speak—periodically reviewing your timeline, ensuring that you have not deviated too far from the initial plan. By seamlessly readjusting parameters or schedules on the fly, the user maintains a sense of control and momentum. This fosters a more ethical relationship with personal finance—rather than ignoring bills or overspending, the user is empowered to revise and correct their course.

4.2 Scenario Comparison and Decision-Making

Another common question is “What if?” or “Can we really do this?” For some, this relates to small lifestyle choices like buying a more expensive vehicle, while for others, it might be a question of early retirement or dedicating resources to a new business. Ethical guidance involves making people aware not only of the potential benefits but also the risks.

In an environment rich with real-time data, Drury’s vision has always been to let users quickly compare different scenarios. Whether it is choosing between:

• A high-end car loan with a larger monthly payment vs. a more modest, used vehicle
• Quickly paying off debt vs. investing surplus cash
• Delaying a home purchase vs. an earlier but more conservative plan

Users see the side-by-side impact. While it does not push them toward a single “correct” path, the platform aims to show the financial trajectory and trade-offs, ensuring users can make a truly informed decision.

5. The Role of Advisors and Collaborative Ethics

5.1 Complementing, Not Replacing, Financial Advisors

The mention of professional advisors in the conversation underscores another ethical dimension. Many individuals either do not qualify for or cannot afford comprehensive, personalized advice. Yet, ironically, financial advisors often prefer working with higher net-worth individuals to justify their fees, leaving many people without a professional resource.

Drury envisions partnerships where advisors can utilize or refer clients to CanWe before the client’s situation is complex enough to merit a detailed, regulated financial plan. This referral system introduces a new collaboration model:

1. Referrals from Advisors – Advisors who must decline younger or lower-asset clients can direct them to CanWe so that these individuals can still build a plan and progress financially.
2. Referrals to Advisors – Conversely, after building preliminary capital or clarifying goals, these same individuals may return when they are ready for advanced investment strategies or formal retirement planning.

The synergy between traditional advice and self-service planning exemplifies professional ethics at work: no potential client is abandoned; rather, they are guided toward more accessible alternatives. It also sets realistic expectations about the boundaries of self-service technology. FinTech can create a robust foundation, but certain complexities—such as estate planning, taxation strategies for higher incomes, or multi-asset investment portfolios—benefit from specialized legal and financial counsel.

5.2 Ethical Concerns in Data and Privacy

Whenever a digital platform handles sensitive financial data, privacy and data security become major ethical considerations. Though not explicitly discussed in the conversation, standard best practices dictate that any platform offering real-time financial modeling protect users’ personal and financial information. Security protocols such as encryption, multi-factor authentication, and anonymized data usage must be a priority to maintain trust and ethical standards.

Professionalism also dictates that user data and modeling outputs be managed according to the highest standards of confidentiality. Any partnership with financial advisors or institutions involves data-sharing protocols and compliance with relevant regulations in the user’s jurisdiction.

6. Looking Ahead: Expansion, Collaboration, and Ongoing Responsibility

6.1 CanWe’s Roadmap

Drury mentions that the platform is in beta testing and has an ambitious roadmap for the near future. Key developments include:

1. Multi-Scenario Features – The ability to create multiple parallel timelines to see how different life paths or strategies compare in one user interface. This fosters deeper exploration without losing the simplicity of the drag-and-drop method.
2. Sharing Feature – Users can share a plan with a partner, friend, or financial mentor. Many families, couples, and friend groups have an informal “money guru,” and sharing the plan fosters collaborative decision-making. This aligns with the ethical principle of empowerment through transparent communication.
3. Magic Assistant – An intelligent sidekick, offering real-time tips or prompts. When a user gets stuck or makes a major change, the assistant can highlight important considerations. While it remains general guidance (and not personal advice), this feature can significantly reduce user errors and confusion.

6.2 The Broader Ethical Impact

Financial decisions have real-life consequences—failing to invest or overspending can mean a retirement shortfall, while ignoring inflation or taxes can erode purchasing power. The mission of any FinTech application seeking to address these realities should be grounded in ethical principles such as:

• Fairness – Offering a lower barrier to entry for those who cannot afford full advisory services
• Honesty – Being transparent about what the platform can and cannot do (i.e., disclaimers about personal advice)
• Autonomy – Giving users control of their plan, so they actively shape their future rather than being passively told what to do

Professional integrity is demonstrated when software designers, financial advisors, and regulators align in a way that fosters both innovation and consumer protection.

7. Key Takeaways: Professionalism, Ethics, and Empowerment

1. Recognize the Gap – Millions of individuals want to handle money responsibly but lack the training or the budget for comprehensive advice. Ethically, FinTech solutions must be designed to address this unmet need, creating an inclusive environment for financial literacy growth.
2. Ease of Use Does Not Mean Oversimplification – CanWe’s drag-and-drop functionality, real-time projection updates, and integrated hints reflect the power of good design. A robust, complex engine can remain user-friendly without dumbing down the details. Ethically, it is crucial to keep the complexity accessible but not hidden.
3. Transparency Is Essential – The ability to break down calculations—taxation, inflation, loan payments—in a comprehensible format ensures that users genuinely understand the repercussions of each life decision. This transparency is fundamental to an ethical approach.
4. Professional Partnerships – Far from displacing financial advisors, well-crafted FinTech tools can expand the market and create stepping stones for individuals who may not be ready for a full-blown advisory relationship. Ethical practice encourages synergy and complementary roles rather than competition that leaves consumers underserved.
5. Continuous Adaptation – Lives change and markets shift. Ethical financial planning requires consistent reevaluation of assumptions, budgets, and timelines, not just a static plan set in stone. FinTech solutions should encourage regular “check-ins” and agile adjustments.
6. Regulatory and Privacy Considerations – Though an innovative platform may fall outside certain regulatory frameworks (by avoiding personal, direct advice), it still must uphold high standards of data security, user privacy, and compliance. This is central to both professional conduct and the broader social contract of FinTech providers.

8. Conclusion: A New Era of Financial Empowerment

The conversation between Patrick Gardner and Cameron Drury reveals a shared vision: responsibly democratizing financial planning in a way that remains ethical, transparent, and life-friendly. Rather than treating financial planning as an exclusive service gated by income or asset thresholds, tools like CanWe open the door to interactive, engaging, and educational approaches that help users chart realistic futures.

For professionals—be they seasoned financial advisors or up-and-coming FinTech entrepreneurs—there is a dual responsibility: to innovate and to protect. By acknowledging the complexities of risk and compliance, listening to user feedback, and remaining laser-focused on professional integrity, FinTech solutions can profoundly influence how younger generations grow their wealth. The transformation is not solely technological; it is also cultural and ethical, reshaping the norms of how individuals and couples plan for the decades ahead.

Whether someone is investigating the cost of a wedding, modeling the financial impact of having children, or contemplating a new business venture, a robust platform can deliver meaningful, data-informed insights without relinquishing user autonomy. And while no single software replaces human wisdom and empathy, the synergy between ethical innovation, transparent modeling, and professional partnerships offers the most promising path forward.

Ultimately, offering accessible, ethical, and user-friendly financial planning may be one of the most profound contributions of modern FinTech. By empowering people to map out their futures responsibly, solutions like CanWe help more individuals avoid the pitfalls of oversimplification and guesswork, bridging the advice gap and heralding a more equitable, financially literate society. In this dynamic intersection of technological innovation, professional ethics, and consumer empowerment, the future of financial planning holds genuine hope for all who seek it.

Disclaimer: This article is for informational and educational purposes only. It is not personal financial advice. Individuals should seek qualified counsel or registered financial advisors for questions specific to their personal financial circumstances. All references to the CanWe platform and its features are based on the conversation and may be subject to updates, changes, or variations as the technology evolves.

Accreditation Points Allocation:

0.10 Technical Competence

0.10 Client Care and Practice

0.10 Regulatory Compliance and Consumer Protection

0.10 Professionalism and Ethics

0.40 Total CPD Points