Clime enters joint venture to improve Aussie financial wellbeing

Clime Investment Management and TIP Group have collaborated on an online financial education program, My Financial Fitness, designed to enhance Australia’s financial wellbeing.

According to Clime, the program leverages TIP Group’s history in investor education and Clime’s expertise in wealth management to create “bespoke content and advice for everyday Australians, facilitated by industry professionals”.

The firm clarified that My Financial Fitness subscribers will have access to a blended learning experience through self-study content, monthly webinars, a personalised financial health check, and real-time access to industry professionals throughout the program.

Content will range from understanding investor behaviour, the fundamentals of investing, exploring different asset classes, and learning about financial protection options.

Clime confirmed there will also be a module outlining accumulation strategies across different life stages, cash flow management, retirement strategies, and aspects of borrowing to invest.

“Research shows that in times of financial stress, consumers increasingly turn to online resources for help in managing their finances and that this poses inherent risk with the proliferation of non-expert, social media ‘finfluencers’,” the firm noted in a statement.

Namely, the Australian Securities and Investments Commission estimated that approximately 33 per cent of young Australians listen to “finfluencers”, which have recently been the focus of regulatory reviews.

As such, TIP Group chief executive Andrew Coleman said the aim of the program will be to bring “qualified, professional advisers” into a forum that is more accessible for everyday Australians.

“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,” Mr Coleman explained.

“We need new ways of educating Australians to improve their financial literacy and confidence. Helping plan for their future is too important a goal to just ignore.”

“Our collaboration with Clime aligns with our noble purpose of transferring knowledge and wealth between generations. My Financial Fitness will continue this commitment, addressing a crucial need for financial literacy in Australia.”

Clime chief executive Annick Donat added: “It is important that the financial advice industry can evolve to meet the changing needs of consumers.

“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.”