Clime and TIP Group launch financial education program

Clime Investment Management and TIP Group have partnered to launch My Financial Fitness, a new online financial education program.

The joint venture will empower Australians to strengthen their financial wellbeing through better self-managed finances, especially during a period of heightened economic uncertainty. 

My Financial Fitness will harness TIP Group’s experience with investor education alongside Clime’s wealth management expertise to produce bespoke content and advice for everyday Australians. 

Subscribers of the program will have access to an online portal including self-study resources and monthly webinars led by experienced professionals, as well as personalised financial health checks. 

Investment fundamentals, asset protection, self-accounting basics, tax and various asset classes will be explored in the online modules to enhance financial wellbeing.

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Moreover, the materials will unpack concepts including the “the fear of savings versus the fear of spending” axis, risk versus reward, accumulation over time and investor biases. 

According to the two firms, consumers show greater interest and use of online resources to manage their finances during times of financial stress. 

However, this leads to a higher risk of Australians accessing non-expert information from social media finfluencers. ASIC estimates that approximately 33 per cent of young Australians take advice from finfluencers, who have been under the regulator’s spotlight in recent years.

Annick Donat, chief executive of Clime Investment Management, believes that the financial advice industry needs to evolve to meet the changing needs of Australians.

“Currently, it is easy to access information about financial markets and investments, but difficult to know what is informed and professional advice – leaving many Australians uncertain about their financial future and where to turn for help and information,” she explained. 

When the two firms began exploring the joint initiative, Clime and TIP Group were aligned in how they sought to enhance the financial knowledge of everyday Australians. 

Donat added: “It made sense to pool our expertise and technology solutions to collaborate on My Financial Fitness.” 

Andrew Coleman, TIP Group’s chief executive, said My Financial Fitness’ aim is to make qualified, professional advisers more accessible to Australians seeking advice.

“Many people make financial mistakes despite the available information because it is difficult to apply to your own specific circumstances. Financial advisers fill that gap but rising costs and compliance have taken this option away from many people,” he commented. 

Their collaboration with Clime represents the increasing need for better financial literacy and news methods of financial education in Australia.

According to John Abernethy, Clime chairman and founder, the program was designed to help investors invest in Australia’s future. 

“By working with TIP Group, we are reinforcing our shared belief in the power of education to mobilise investors to either be self-directed or to confidently partner with experienced advisers,” he said.