As Financial Planners gear up for the new financial year in Australia, it's crucial to identify the key areas of focus that will shape their strategies and decision-making in the coming months. The ever-evolving economic landscape and regulatory changes demand a proactive approach to Financial Planning.

In this blog post, Your Financial Planning Manager explores five essential focus areas for Financial Planners in Australia in the 2023-24 financial year.

Embrace Technological Advancements

With the rapid advancements in technology, Financial Planners must embrace digital tools and solutions to enhance their services.  Robo-advisors, automated reporting systems, and customer relationship management (CRM) platforms can streamline processes, improve efficiency, and provide a seamless client experience.  

Integrating technology effectively will allow Financial Planners to allocate more time to value-added services, such as personalised advice and financial education.

Adapt to Regulatory Changes

The Financial Services industry is subject to constant regulatory changes, and staying abreast of these developments is vital. In FY 2023-24, Financial Planners need to pay particular attention to the implementation of the Financial Adviser Standards and Ethics Authority (FASEA) Code of Ethics, which sets higher professional standards and ethical obligations.  Compliance with these regulations will help build trust with clients and reinforce the integrity of the profession.

Prioritise Sustainable and Responsible Investments

The growing focus on sustainability and responsible investing presents an opportunity for Financial Planners to align their clients' financial goals with their values.  Incorporating environmental, social, and governance (ESG) factors into investment strategies can help clients support companies that promote positive change.  Financial Planners should stay updated on ESG trends, identify suitable investment options, and educate clients about the potential long-term benefits of sustainable investments.

Enhance Cybersecurity Measures

As the financial industry becomes increasingly digital, the risk of cyber threats and data breaches continues to rise. Financial Planners need to prioritise cybersecurity measures to safeguard client information and protect their reputation.  Implementing robust data encryption, two-factor authentication, regular system audits, and staff training on cybersecurity best practices are essential steps to mitigate risks.  

By demonstrating a strong commitment to data security, Financial Planners can enhance client trust and confidence.

Foster Client-Centric Relationships

In an era of personalized financial advice, building strong client relationships is essential for success. Financial Planners should focus on understanding their clients' unique circumstances, goals, and aspirations.  Regular communication, active listening, and empathetic guidance are crucial for establishing trust and maintaining long-term relationships.

Furthermore, offering ongoing financial education and proactive reviews will demonstrate a commitment to clients' financial well-being and reinforce the value of the planner's services.



The Financial Planning landscape in Australia is continually evolving, and Financial Planners need to adapt and embrace emerging trends and regulations.  By focusing on technological advancements, regulatory compliance, sustainable investments, cybersecurity, and client-centric relationships, Financial Planners can position themselves as trusted advisors and provide holistic financial solutions in the financial year 2023-24.

Embracing these focus areas will not only drive success but also enable Financial Planners to meet the evolving needs and expectations of their clients in an ever-changing financial landscape.