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H&R Block Partnership Expands Financial Advice Services

4 min read

H&R Block has become an industry leader, offering financial advice to the people who really need it

Thinking about getting early access to your super or re-financing, and need some affordable advice? Here’s why you should talk to us first.

The world has changed dramatically in recent months – and with it, the financial landscape both domestically and across the globe. This has lead to a huge uptick in the need for accessible, affordable and compliant advice for regular Australians, not just the 1%. And while most financial services companies are scrambling to find a way to meet this need, H&R Block is proud to be very much ahead of the curve.

As the world's largest "tax return preparation company", we have long been offering digital financial advice solutions to Australian customers.

More than 750,000 tax returns are prepared annually by our 2500 employees across 500 offices. What makes this particularly special is that the average annual income of our customer base is $70,000 – which is precisely the demographic the financial services industry has long said is too difficult to service. We’ve proved them wrong.

“Our client base is of the segment largely neglected by the traditional financial adviser and unlikely to pay the going rates,” H&R Block's Australian Managing Director Brodie Dixon says. “But these are the people perhaps most in need of easy-to-understand and easy-to-implement financial advice.”

Customers walk into H&R Block offices every day, Dixon says, and ask where to invest their inheritance, or whether they should have life insurance - questions that, legally, only a licensed financial adviser can answer.

“We don’t provide that advice, but we needed a solution our customers can afford.”

To meet this need, H&R Block has launched a revolutionary new partnership with Melbourne fintech start-up Fiduciary Financial Services, offering our customers a scale-able digital advice product that is affordable, accessible and adaptable – and 100% suited to the needs of the average household.

This program gives our customers access to expert advice for an unprecedented price ($165-297 incl. GST per advice topic) and covers a range of areas including Lending & Re-finance, Savings & Investment, Retirement Planning, Superannuation and more.

Using this product, which is 100% compliant with the notoriously strict laws governing financial product advice in Australia, consumers can perform a fact-find via their smartphone, determine their financial needs using an artificial intelligence algorithm, and then be "triaged" to single-issue or comprehensive advice services.

The program is being made available to H&R Block customers progressively, with various services launching throughout the 2020 calendar year and you can register your interest now to be the first to hear when a particular service becomes available.

REGISTER YOUR INTEREST NOW 

The affordability of this program is a far cry from the average annual fees of almost $3000 per client charged by financial advisers in 2019, according to research house Adviser Ratings, and offers H&R Block customers a more holistic solution to their financial problems.

This service is also particularly timely as the Australian Securities and Investments Commission recently unveiled temporary measures to expedite "affordable and timely" advice, including on the government's controversial policy allowing early access to superannuation. It also proves that H&R Block is in a much better position to tackle this challenge than most of the industry.

Have some questions about how this service works?

Complete the form and one of the Fiduciary’s financial planners will get in touch with you.

 

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