At this year’s FAAA Congress, I noticed something that lingered with me well beyond the final session.
It prompted me to explore the idea further in an article that’s now available to read on the FAAA website, Why the future of financial advice depends on the wisdom of its elders – a topic I believe is vital as we work to build a stronger, more ethical and deeply human profession.
Looking to the past to build our future
The catalyst for writing the piece came during the Q&A sessions where, time and again, especially amongst the older advisers in the room, people began their questions with a lengthy list of credentials.
My initial response was mild frustration. But on reflection, it prompted me to think more carefully about the place of the elders in our profession, the wisdom they hold, and whether we are doing enough to actively invite them into the conversation.
In the article, I explore the changing face of financial advice, why some experienced advisers no longer feel included, the risks of reducing people to labels, and the importance of blending wisdom with innovation.
Why this matters to me
At Stephan Independent Advisory, our foundations are deeply rooted in family. My father, Magdy Stephan, passed away at just 59, in his prime as a leading financial adviser. He instilled in me the values of honesty, clarity and service – values that continue to guide our work today.
I often find myself wishing I could still talk to him. I wish I could pick his brain, learn from his experience, and have his wisdom help light the path ahead. He would have been 76 today, with so much more to offer.
That sense of loss is also a reminder of why it matters so deeply to me that the wise advisers among us have a willing audience – people ready to listen, learn and benefit from their counsel.
Intergenerational stories sustain us
We don’t become less relevant as we age. Instead, we become people who have lived through complexity, navigated uncertainty, and can offer clarity when it matters most.
This belief in the power of intergenerational learning is something we have explored often at Stephan Independent Advisory, both via the articles on our website and through my podcast, It’s Never About Money.
We’ve written about the importance of stewardship in Shirtsleeves to shirtsleeves in three generations, and explored the idea of lasting impact across generations in A lesson in legacy.
On the podcast, I’ve loved hearing from older and wiser voices whose stories have stayed with me – including Peter Winneke, author of ‘Give While You Live’, speaking about generosity and legacy; author Alastair Henry reflecting on one man’s search for fulfilment; and former Facebook Australia and New Zealand CEO Stephen Scheeler sharing insights on change, flexibility and resilience.
These conversations, and many others, reinforce the value of lived experience in shaping meaningful futures.
A modern outlook, grounded in wisdom
At Stephan Independent Advisory, we exist to help business families feel confident about their financial future – protecting not only their wealth, but their legacy.
Last year, I was honoured to be recognised as a finalist for the FAAA’s 2025 CERTIFIED FINANCIAL PLANNER® Professional of the Year award.
I know my dad would approve. And I hope that one day, when I’m the elder standing to ask a question at a conference filled with the next generation of advisers, I’ll be proud of the role I played in advocating for a stronger industry – one built on connection, wisdom and respect.
Read the full article here: https://faaa.au/why-the-future-of-financial-advice-depends-on-the-wisdom-of-its-elders/
