What inspired you to become a financial planner?
While I was studying my undergrad I worked in retail and bought a 20% share in a retail business, I worked long hours and had very little job satisfaction and felt jaded. I had tried to gain a position in the asset management industry but to no avail. In 2002 a friend of my family’s offered me a planner position with a Liberty franchise. I was a bit reluctant and had reservations, but I took the leap and joined the industry in January 2003.
My inspiration and belief in the industry really took hold and grew when I started receiving, processing and having successful claims experiences. This is when I really started to see that this industry really takes care of people when they absolutely need it. This then went into another gear when I was diagnosed with cancer and then 2.5 years later had a relapse. I have become one of the most powerful stories that I get to share with clients: old, new and prospective.
What prompts clients to come to you? Do you have a niche or distinctive value offering?
I pride myself on being honest to a fault, approachable and highly efficient. My clients have come to know that they always have an ear to hear them and an honest sounding board to bounce ideas off, even if our opinions differ. At Opes Wealth, we take the duty of educating our clients seriously, and we feel that if we can teach our clients something or add value from a learning point of view, then we have done a good job.
As far as a niche goes, we generally work in the HNW space, but when we choose to work with a client then we try to do as much as we possibly can for those clients, which provides a comprehensive and powerful offering to our clients.
What do you believe is the most important thing you do for clients?
Building strong relationships with clients and serving as a personal and financial coach while guiding clients through all their life and financial situations.
A part of the coaching and education helps clients move past biases, as well as learning how different products and market conditions can be beneficial regardless of their existing beliefs.
What are the biggest mistakes that you see clients make?
The biggest mistake that I see is that people can be too emotional about money and financial decisions. This can lead to knee jerk reactions and panic selling when markets have downturns or there are environmental changes. We work very hard to reinforce the fundamentals of investing and financial planning and guide our clients in “staying the course.” If that is the correct course of action in that specific scenario.
How do you charge for your services?
We offer our clients unique remuneration models which suit their needs or philosophies, such as regular product commissions or Assets Under Management (AUM) Fee Model or Straight Fees (such as hourly rates, monthly or annual retainers).
What role does technology play in your practice?
We embrace technology as fully as we possibly can and run a fully virtual and online practice. We see clients in person, but everything else is done via technology. We have no formal offices, no assistants, no paper files or filing cabinets – everything is done electronically. This saves time and reduces errors as the planner is the person sending the instructions to the provider or sending feedback to the client. This makes sure that the planner stays sharp and is always accountable.
How do you utilise social media as a financial planner?
We use social media (LinkedIn) to share important news, highlights and wins with clients, peer groups as well as the general public. It is a great way to gain and improve company and individual brand recognition and to build awareness about ourselves, Opes Wealth and the Financial Planning Industry as a whole.
What do you enjoy most about being a financial planner?
For Clients: I feel as though we, as financial planners, have such an important role to play as stewards of wealth and legacies for clients and their families. We also serve as teachers, guides, coaches and friends to our clients, and these relationships are beautiful.
For me and my family: The opportunity to build a practice which gives me the time and flexibility to spend time with my family and to be present in every aspect of their lives.
What are the biggest challenges you face as a financial planner?
I personally don’t see any challenges as a financial planner, I feel as though we work in an exciting and dynamic industry, which is so rewarding! I embrace change and see it as an opportunity to grow and evolve and to shape myself and Opes Wealth into better versions of ourselves.
What is the biggest change you have seen in financial planning during your career?
I feel as though we have been transitioning into a fully-fledged profession in the last 22 and a half years. By being able to complete a post graduate diploma in Financial Planning, by achieving & maintaining CFP status and even by increased compliance I feel as though we are trending in the right direction.
What’s your one wish for the future of the financial planning profession?
My one wish would be that we complete the transition into a fully recognised profession and that the distinction between CFP Professionals and product salespeople is clearly defined and distinguished so that there is no confusion in the public space. Furthermore, I would like to see more like-minded people who want to enhance and grow the industry joining instead of sales-oriented people.
