Produced By: Ensombl
The financial planning profession stands at a crossroads where technology, regulation, client expectations, and the global exchange of ideas are reshaping time-honored practices. To remain relevant and to deliver true value, advisors must adapt to changing client needs, changing markets, and changing technology. However, no matter how much evolves, the pillars of professionalism and ethics must remain the bedrock of high-quality financial advice.
This principle was reinforced during a series of lively, on-the-ground conversations at the Future Proof Festival in Huntington Beach, California—one of the world’s first truly outdoor wealth management events. Amid the ocean breeze, palm trees, and spirited discussions around everything from the U.S. regulatory environment to the latest AI tools, the focus kept returning to a single unifying theme: the importance of human-centered, ethically sound, and professional practices in financial advice.
This article synthesizes key takeaways from several roundtables, one-on-one “speed networking” conversations, and formal presentations. It highlights lessons learned around practice development, business growth, client experience, and the future of financial advice itself. Throughout, the lens of professionalism and ethics remains central—underscoring how these enduring values guide everything from how advisors communicate on social media to the ways they incorporate AI into their back offices.
One of the first points of discussion at the festival involved the stark differences between U.S. and Australian advisory regulations, particularly around social media use. Many American advisors, especially those employed by large broker-dealer firms, are restricted in how they can post or even appear on platforms like LinkedIn, Instagram, or TikTok. These constraints can require every single post—sometimes even a simple “like”—to undergo a compliance review before going live.
In contrast, Australian advisors noted they have comparatively fewer barriers when it comes to using social media, though they do face a rigorous overall regulatory environment in other respects. While from the outside it may seem easier for Australian advisors to build a personal brand online, they still must navigate professional and ethical obligations—truth in marketing, transparency, and ensuring no misleading information is shared.
The ethical dimension is clear: Regardless of jurisdiction, compliance with both the letter and spirit of the law is paramount. There is also a best-interest duty owed to clients, especially in an era where misinformation can spread rapidly on social channels. Advisors everywhere must strike a balance between sharing genuine, helpful insights and respecting the boundaries set by regulators and professional standards.
An equally striking difference was the prevalent assets under management (AUM) fee model in the United States. Many U.S. advisors charge a flat percentage—commonly around 1%—on invested assets, and quite a few include additional services within that fee, such as annual tax returns or basic estate planning. This multi-service approach can create “stickier” client relationships, because the advisor weaves numerous essential services into a single offering.
In Australia, fee-for-service models have become more common, and many advisors charge separate fees for financial plans, ongoing reviews, and implementation of strategies. This approach often stems from Australia’s more rigorous compliance environment and a cultural pivot away from commissions and pure asset-based fees.
From an ethical perspective, the conversation at Future Proof highlighted the importance of advisors clearly articulating the value they provide—beyond just managing money. Transparency and fair pricing are more critical than ever. Advisors who bundle multiple services into one fee must ensure clients know precisely what they are paying for, how that fee is calculated, and what the advisor’s responsibilities entail.
Another ongoing conversation involved succession planning. In both the U.S. and Australia, large numbers of advisors are set to retire over the next decade, prompting challenges around attracting new talent, whether through private equity–backed consolidations or internal staff buyouts. The ethical tension arises when senior advisors receive hefty offers from large private equity firms versus more modest offers from employees or smaller local firms. Advisors must weigh personal financial outcomes with the potential impact on client well-being, continuity of service, and the relationship-based culture they have nurtured. Balancing these factors can test professional integrity, even as advisors rightly seek to realize the fruits of decades of work.
The role of marketing in shaping an advisor’s practice was a recurring theme throughout the festival. While compliance rules might limit how frequently and expansively some U.S. advisors can post on platforms, the universal truth is that clients and prospects need repeated, high-quality touch points. One speaker cited the need for “10 touch points” from the moment a prospect becomes aware of an advisor to the time they book an initial meeting.
This echoes a critical professional standard: as advisors, we do not merely “sell” advice; we educate and build trust. Each time a prospective client encounters our brand—whether that brand is personal or corporate—they should consistently feel our commitment to client-centric advice, ethical conduct, and deep competence. If an advisor uses video messages, blog posts, social media updates, or short webinars as part of that prospect journey, each piece must adhere to ethical guidelines, ensuring claims are accurate, relevant, and fair.
An especially practical tactic mentioned was sending a short ‘why I do what I do’ video to the client after they book an appointment. This helps them understand the human behind the professional and frames the upcoming conversation in a more personal, empathetic light. Of course, the marketing angle here dovetails with the code of ethics—particularly around honesty, transparency, and clear communication.
One well-attended panel focused on women as a vital demographic in financial planning. The discussion highlighted a number of statistics that reinforce just how crucial it is for advisors to properly serve and engage this client segment:
From an ethical standpoint, failing to truly understand women’s needs, preferences, and life experiences can limit an advisor’s ability to fulfill a best-interest duty. Speakers stressed that success measures often differ: men may be more inclined to value metrics like investment returns and net worth, while women might emphasize security, peace of mind, or the ability to make a positive impact on their families and communities.
To serve women effectively, advisors must cultivate a deeper understanding of each client’s background, family situation, and emotional relationship with money. Several tools were suggested, including behavioral assessments such as “Money Habitudes,” which quickly reveals a client’s innate tendencies (e.g., spontaneity vs. security-oriented thinking). By understanding these tendencies, advisors can tailor financial strategies that clients actually resonate with—rather than delivering a one-size-fits-all plan.
For many advisors, especially those who rely on workshops, seminars, or community events to reach prospective clients, public speaking anxiety can be an obstacle. A session led by a professional speaker coach offered a simple but effective technique:
Seeing those scenarios clearly can put performance fears into perspective. Even if the worst-case scenario transpires, one still gains valuable learning experiences and personal resilience. The implication for ethics and professionalism is that the more prepared and composed we are, the better we can communicate accurate, reliable, and empathetic guidance. Advisors who invest in honing their speaking and presentation skills demonstrate professional diligence, ensuring that the information they provide is both correct and delivered in a way clients can readily understand.
A particularly thought-provoking conversation touched on the complex topic of clients’ digital assets, especially after death. In today’s world, everything from email accounts to social media profiles, smartphone access, and cloud-based storage can require biometric authentication. This raises pressing questions about how beneficiaries gain access once an individual has passed away.
Consider two-factor authentication tied to a phone that unlocks via a late spouse’s fingerprint. If the phone is locked away—and biometric access is the only route—family members can be left scrambling. Each digital service has its own legal framework and “lifetime license agreements,” meaning usage rights often expire upon death. Ethical financial planners should be alert to these potential pitfalls and guide clients on best practices such as:
While these tasks may fall outside the conventional scope of investment advice or retirement planning, helping clients navigate them aligns strongly with our duty of care. It not only addresses a real and growing need but also underscores a commitment to comprehensive, ethically minded service.
A powerful concept introduced during one session was the Behavioral Policy Statement (BPS)—similar in principle to an Investment Policy Statement (IPS), but focused on clients’ emotional and psychological needs, rather than purely on portfolio selection criteria or risk metrics. Advisors noted that traditional risk profiles often assume clients are rational actors, ignoring how real human beings fluctuate under stress, market turmoil, or personal challenges.
A BPS, on the other hand, outlines up front how the advisor and client will collaborate to manage emotional impulses and maintain perspective when markets are volatile or life circumstances change dramatically. It can include reminders that:
By integrating these ideas from the beginning of the client-advisor relationship—and frequently revisiting them—the Behavioral Policy Statement prevents rash reactions. This approach not only protects the client’s best interest but also helps the advisor maintain an ethical stance by disclosing, from day one, that they prioritize discipline, transparency, and evidence-based guidance.
A culminating theme throughout many sessions was the evolution of financial advice: from old-school product sales to holistic planning and now increasingly toward financial coaching. This shift resonates with a rising consumer demand for guidance that addresses not just money but also the person behind the money—their life goals, values, fears, and aspirations.
A group called Shaping Wealth presented on how the “experience economy” influences financial clients. Historically, many industries have evolved from selling commodities to delivering experiences. Today’s clients, by and large, don’t just want to purchase financial products or get a plan in a binder—they want to feel supported, understood, and involved. The term often used is “human-first advice.”
Professionalism within a coaching framework means respecting boundaries and ensuring advisors don’t veer into unlicensed therapy. Still, it remains ethical and valuable to incorporate empathy and motivational interviewing as part of the advisory process. Indeed, advisors should recognize when to refer clients to mental health or specialized professionals if the conversations stray into deeper behavioral or emotional territory. Nevertheless, a coaching orientation—and the humility to bring in other experts—often stands out as an ethical hallmark in an environment where too many might place product sales or asset management fees first.
Technology conversations were rampant at Future Proof, with a surge of AI-centric solutions on display. Tools promising automated advice, advanced client data analytics, and predictive modeling lined the exhibitor halls. However, the real ethical challenge isn’t simply adopting AI—it’s ensuring that one’s underlying data is accurate, securely stored, and used responsibly.
Several advisors remarked on the concept of a “data lake”—where all client information, from CRM entries to PDFs of estate documents, could be housed in a single secure repository. AI can then be applied to draw insights, handle repetitive tasks, or even generate draft communications. But if the data is incomplete or poorly organized, the AI’s output is at risk of amplifying existing inaccuracies or biases.
Thus, the biggest professional and ethical question is how to maintain data integrity and protect client confidentiality. In many jurisdictions, data privacy laws are strict and penalties for breaches are severe. Beyond legal obligations, client trust hinges on an advisor’s ability to ensure sensitive data will never fall into the wrong hands. Advisors must confirm that vendors or tech partners adhere to top-tier security protocols, provide clear privacy policies, and explicitly communicate how data is used, stored, and encrypted.
In a world saturated with digital “solutions” and ever more complex challenges, the repeated refrain was: Clients are drowning in information but starved for wisdom. The consumer landscape is rife with robo-advisors, do-it-yourself investing platforms, and social media influencers dispensing questionable advice. Against this backdrop, a committed financial planner, bound by a code of ethics and professional standards, can stand out as a beacon of trust, expertise, and genuine caring.
Yet it all starts with the advisor themselves. A key point raised was the need for advisors to practice self-reflection and self-care. Feeling stressed, burnt out, or disconnected from one’s own sense of purpose impairs the ability to help others. One speaker urged advisors to write down their own “money story” before asking clients to do the same, fostering a stronger sense of empathy.
The path forward, then, involves a holistic synergy:
Professionalism and ethics are the cornerstones of lasting client trust. No matter how industry regulations shift, or how technology automates certain tasks, the role of a truly professional advisor extends beyond mere financial transactions. It involves acting in good conscience, understanding each client’s emotional and behavioral motivations, safeguarding their personal data, and remaining transparent about both fees and processes.
At the Future Proof Festival in Huntington Beach, the open-air format signified a new era—one less confined by tradition and more open to collaboration, innovation, and human connection. From social media roadblocks and AUM fee structures to behavioral policy statements and AI-driven data lakes, the festival’s biggest revelations serve as reminders that the human dimension remains the critical differentiator in financial advice. Advisors who invest in communication skills, empathetic engagement, and personal integrity are best positioned not just to survive but to thrive in a marketplace where client expectations grow more complex by the day.
Ultimately, the responsibility to lead with ethics lies in each advisor’s hands. Whether addressing the digital afterlife for grieving families or guiding newly widowed individuals who may be poised to fire their late spouse’s advisor, professionals must ensure that trust is earned and maintained through every interaction. By incorporating these lessons—deep empathy, transparent communication, fair pricing, and robust data governance—advisors can chart a course toward truly transformational growth for themselves, their practices, and above all, their clients.
Accreditation Points Allocation:
0.10 Technical Competence
0.10 Client Care and Practice
0.10 Professionalism and Ethics
0.30 Total CPD Points