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Building Confidence in Financial Advice · Financial Planner Life Podcast

• 0:00
  SPEAKER_00: And today's guest on the Financial Panelized Podcast is Helen Thomas.
• 0:03
  SPEAKER_00: She's a chartered financial planner.
• 0:04
  SPEAKER_00: She started a career at entry level, so that's in administration.
• 0:07
  SPEAKER_00: And we talk about that entry route in where she came from a sip and a SAS administrator beforehand and then worked her way up through power planning to training advice to becoming a chartered financial planner.
• 0:17
  SPEAKER_00: She's not a naturally confident person.
• 0:19
  SPEAKER_00: Presenting to her scared her.
• 0:21
  SPEAKER_00: She was more of a technical enthusiast, called herself a geek, actually.
• 0:25
  SPEAKER_00: Anyway, enough of that.
• 0:26
  SPEAKER_00: She's now working as a chartered financial planner.
• 0:28
  SPEAKER_00: She talks about how she built the confidence in the role, starting out sitting in power planning meetings and presenting to clients, but also getting involved in educational seminars with schools and colleges, teaching uh young children about the importance of financial planning.
• 0:41
  SPEAKER_00: She even leans into communities such as Next Gen Planners that have given her some fantastic presenting skills training.
• 0:48
  SPEAKER_00: What I love about Helen is she's hugely passionate about the financial planning profession.
• 0:52
  SPEAKER_00: She's proof also that you don't have to be an extrovert to be a financial advisor.
• 0:56
  SPEAKER_00: I hope you enjoyed the episode.
• 1:05
  SPEAKER_00: Helen, thank you so much for joining me today on the Financial Planner Life Podcast.
• 1:09
  SPEAKER_00: How are you?
• 1:11
  SPEAKER_02: Very well, thank you.
• 1:12
  SPEAKER_02: How are you?
• 1:13
  SPEAKER_00: I'm really good.
• 1:14
  SPEAKER_00: Yeah, I'm buzzing, actually.
• 1:15
  SPEAKER_00: I've recorded my first episode today of Talk Club the Podcast, which is a men's mental fitness charity talk club.
• 1:22
  SPEAKER_00: I'm a trustee and our business have partnered with them.
• 1:26
  SPEAKER_00: Um, but I've gotten to know the founders really well, the CEOs, the guys who set it up.
• 1:30
  SPEAKER_00: Um, and because I've got a podcast studio, because I've got experience of podcasts, and I said, let me set up the talk club podcast.
• 1:37
  SPEAKER_00: So today we recorded the first episode.
• 1:39
  SPEAKER_00: So if you see me drinking one of these, it's not because I'm celebrating and falling off the wagon.
• 1:43
  SPEAKER_00: It's an alcohol-free beer called Clearhead, but it's a collaboration between the charity Talk Club and Bristol Beer Factory.
• 1:50
  SPEAKER_00: So it's the first alcohol-free mental health movement IPA.
• 1:53
  SPEAKER_00: So if you see me drinking it, I haven't fallen off the wagon.
• 1:56
  SPEAKER_00: I am alcohol-free beer, but I'm celebrating a fantastic podcast recording in our brand new studio here as well.
• 2:02
  SPEAKER_00: So I was really uh pleased today to do that.
• 2:05
  SPEAKER_00: But hey, I'll tell you what, let's start, let's start the um let's start the podcast with a question that we ask at Talk Club, which is how are you at a 10?
• 2:15
  SPEAKER_02: I'd say a solid 9.5 because it's a bit of a snow day here today.
• 2:21
  SPEAKER_02: So I've been um well, playing in the snow a little bit.
• 2:25
  SPEAKER_00: Have you?
• 2:28
  SPEAKER_00: Nice.
• 2:28
  SPEAKER_00: What's making snowmen whilst in between sort of doing a bit of work, right?
• 2:33
  SPEAKER_02: Yeah, a little bit, yeah.
• 2:35
  SPEAKER_00: Oh, fantastic.
• 2:36
  SPEAKER_00: Well, that's good, good to hear such a high number.
• 2:38
  SPEAKER_00: That's fantastic.
• 2:38
  SPEAKER_00: Okay, well, let's kick things off then, Helen.
• 2:40
  SPEAKER_00: Okay, on the podcast, Financial Plan of Life, it's all about the careers of those that work within the profession.
• 2:45
  SPEAKER_00: So let's just start things off with how did you hear about the financial planning profession?
• 2:50
  SPEAKER_00: How did you get into it?
• 2:51
  SPEAKER_00: And what was your entry-level sort of routine?
• 2:53
  SPEAKER_00: What did it look like?
• 2:56
  SPEAKER_02: So I think, as probably most people, um, it was completely by accident.
• 3:02
  SPEAKER_02: So I graduated from um university in 2014, having done a business degree, had absolutely no idea what I wanted to do.
• 3:13
  SPEAKER_02: Knew that I was quite good with money, um, just looking after my own money, basically not getting into debt, but really had absolutely no idea what I wanted to do.
• 3:25
  SPEAKER_02: So it was a program called Careers Wales, which had lots of different graduate schemes, and I just applied for a couple of them.
• 3:34
  SPEAKER_02: And the first company that gave me an interview was a SIP and SAS administration company.
• 3:40
  SPEAKER_02: So I went ahead, went to the interview, didn't have a clue what a SIP and SAS was, but sort of managed to get myself um onto that job, onto that role, and quickly discovered that the administration element of it wasn't really for me.
• 3:58
  SPEAKER_02: I found it quite repetitive and fairly dull at times, um, especially considering you know, a full career in it.
• 4:06
  SPEAKER_02: So I thought there's actually why why are these people actually choosing these pensions?
• 4:12
  SPEAKER_02: And there's got to be a reason for it.
• 4:15
  SPEAKER_02: What about the people behind the numbers that I was sort of seeing on the screen?
• 4:20
  SPEAKER_02: So I saw one of our advisors and that had a couple of pensions with us, was hiring for an administrator to start off with.
• 4:30
  SPEAKER_02: So I thought, oh well, I'll I'll give that a go.
• 4:33
  SPEAKER_02: I've I did my CF1 exam with the Seven SARS company.
• 4:37
  SPEAKER_02: I thought, yeah, that sounds you know an entry kind of level exam.
• 4:42
  SPEAKER_02: Got some sort of idea of what I'm doing with administration, I'll give that a go.
• 4:47
  SPEAKER_02: So started off um at an IFA company doing auto rollment administration, so similar kind of work in terms of looking after pensions, and then moved on from doing that to then looking after the client.
• 5:04
  SPEAKER_02: So the relationship role, answering all the phone calls, um, any client queries, doing the client reviews, stuff like that.
• 5:12
  SPEAKER_02: Um, working through my basic exams, so the FA1 and the FA2, and then moving on to the regulated um advisor, regulated financial um planner qualification.
• 5:25
  SPEAKER_02: So R01 to R06, moved into power planning during the course of that.
• 5:31
  SPEAKER_02: Um and that was purely by accident.
• 5:34
  SPEAKER_02: Really, the my colleague was going off on maternity leave and they just didn't have anyone else to care.
• 5:40
  SPEAKER_02: So they were like, Helen, do you want to give this a go?
• 5:42
  SPEAKER_02: You can sort of do most of it.
• 5:44
  SPEAKER_02: I'm pretty sure you'll be fine.
• 5:45
  SPEAKER_02: Um, and so that's how I got into power planning then.
• 5:49
  SPEAKER_02: And then moved from that company um because it was quite transactional, um, just dealing mainly with pensions and ICEs, moved to a more ballistic financial planners just because I thought it's not really enough to fail your IC contributions, failure venture contributions each year.
• 6:10
  SPEAKER_02: There's got to be more than that.
• 6:11
  SPEAKER_02: Why would you do that?
• 6:12
  SPEAKER_02: What's the reason?
• 6:13
  SPEAKER_02: What's what does the person want at the end of it?
• 6:17
  SPEAKER_02: So found FPC who very much do that holistic financial plan that I was looking for.
• 6:24
  SPEAKER_02: And since then have qualified as a chartered financial planner and a fellow PFS as well.
• 6:31
  SPEAKER_02: And at the moment I'm awaiting results for the CFP as well.
• 6:35
  SPEAKER_02: So that's kind of the route that I've taken.
• 6:38
  SPEAKER_02: I think the reason why I decided to actually look more at that person was because in that SIP and SAS company, we had um white label sips that had fine wine fins and things like that in them from advisors that had, you know, would done that to people.
• 7:02
  SPEAKER_02: And I got a phone call off this lady who was about to retire and she was crying on the phone because her sniffy said that she had nothing in invention because we had to value um it was a tree fund of some sort that basically invested in trees, and there was no value in it unless the trees were felled and you know created something web.
• 7:28
  SPEAKER_02: And she was just crying on the phone, and I felt so off.
• 7:31
  SPEAKER_02: Well, you know, why has this advisor done that?
• 7:34
  SPEAKER_02: Why why has she been put into that?
• 7:36
  SPEAKER_02: So that's really actually what kicked it all off in terms of going down the advisor routes.
• 7:42
  SPEAKER_00: Thank you very much for that comprehensive and quick overview.
• 7:45
  SPEAKER_00: I'm just looking at the timer, it was about five minutes.
• 7:47
  SPEAKER_00: That's probably one of the most uh quickest and um specific career routes into the profession.
• 7:55
  SPEAKER_00: What I liked about that career route as well is that you have gone through each and every stage to get to the level of financial planner.
• 8:03
  SPEAKER_00: And actually, as you've gone through that stage, you've actually ended up a chartered financial planner.
• 8:07
  SPEAKER_00: So from a qualification, you've gone on the qualification journey and you've gone on the um the holistic experience journey.
• 8:14
  SPEAKER_00: I like that.
• 8:15
  SPEAKER_00: So I want to just take it back a minute because it was a sip and sass company that you originally went and joined.
• 8:21
  SPEAKER_00: Lots of people that I know and have come across have gone into things like product providers first, got a bit of an understanding of financial services, maybe in a customer service role, maybe an administrator role, and took on a you know a qualification to give them an intro into what financial services is, or perhaps they might have just, you know, taken one of the ROs or something in that early stage.
• 8:42
  SPEAKER_00: So just for those listeners, those ones that are thinking, how do I get into the financial planning profession?
• 8:46
  SPEAKER_00: If you're struggling to get into financial planning, why not look at some of the product providers first?
• 8:50
  SPEAKER_00: Because you don't have to have as much experience.
• 8:53
  SPEAKER_00: You can get some good solid customer service experience, good solid administration administration experience, tip and fast, employee benefits you mentioned there as well.
• 9:04
  SPEAKER_00: You know, these are areas where you can get a couple of years, give you some good experience.
• 9:08
  SPEAKER_00: There is different routes within financial services.
• 9:10
  SPEAKER_00: It's not all about financial planning, and you might just from there learn a different route into a different area of financial services.
• 9:16
  SPEAKER_00: But it's a great starting point, as you said, to getting the experience.
• 9:22
  SPEAKER_00: And I think going into sipping fast, especially the pension provider ones, I think that definitely gives you a bit of an easier route into the financial planning profession to cross over and sort of specialize in the pensions area, say, of a financial planning firm.
• 9:36
  SPEAKER_00: And that's kind of what you did.
• 9:37
  SPEAKER_00: Um, I want to sort of push forward and hyper focus a little bit on this sort of final stretch of your career then, or say the final stretch, but where you currently are now, you know, a chartered financial planner and then the build-up to that, because like I said, you went through the traditional route.
• 9:52
  SPEAKER_00: So admin to power planner to training advisor, although training advisor, I wouldn't say, is a job title that's used to being banded around, it's starting to be banded around right now, to financial advisor.
• 10:04
  SPEAKER_00: So you fell into the power planner role.
• 10:07
  SPEAKER_00: Yeah.
• 10:08
  SPEAKER_00: Did you have before that though, did you have a desire?
• 10:13
  SPEAKER_00: Did you know what a power planner was?
• 10:15
  SPEAKER_00: Did you want to go and do that job?
• 10:17
  SPEAKER_00: Did you see it as a stepping stone to becoming an advisor?
• 10:20
  SPEAKER_00: Was your end goal being an advisor, or did it just happen?
• 10:27
  SPEAKER_02: I think once I started working in that IFA world and understanding a bit more about the client relationship elements of it, that's when I really started to think I actually like to be an advisor.
• 10:42
  SPEAKER_02: It wasn't to do with the sort of technical aspect of it, it was to do with the relationship aspect of it, really.
• 10:49
  SPEAKER_02: But for me, as a bit of a school SWAT, um, you know, obviously you'd mentioned the exams and stuff like that.
• 10:57
  SPEAKER_02: For me, being a power planner is all about the tech the technical knowledge.
• 11:01
  SPEAKER_02: So really getting to grips with what you're talking about, the tax implications of anything, really the product, um, understanding pensions, bonds, ICEs, the estate planning aspect of um planning as well.
• 11:18
  SPEAKER_02: So I've me, I think I thought of thyro planning as giving me a really, really good base to technical knowledge.
• 11:25
  SPEAKER_02: I wouldn't even say base, actually, all of the technical knowledge to then be able to confidently go out to see clients to talk about the technical aspect of financial planning to then build on um for the relationship side of it as well.
• 11:42
  SPEAKER_00: Can I ask you a question?
• 11:45
  SPEAKER_00: What do you think about these academies then?
• 11:48
  SPEAKER_00: So somebody's got no experience of working within the financial planning profession, right?
• 11:52
  SPEAKER_00: They can come from any career background, and as long as they tick the relevant boxes, right, they can join an academy where within a set period of time they'll be fully qualified and off on their way to give financial advice.
• 12:09
  SPEAKER_00: Now, they haven't gone down the route that you did, which is like administration, power planning, training advice into financial advisor.
• 12:16
  SPEAKER_00: They're kind of doing a fash track, aren't they, at the end of the day?
• 12:19
  SPEAKER_00: Um you didn't go that way.
• 12:23
  SPEAKER_00: What do you think about that pathway up against yours?
• 12:30
  SPEAKER_03: That's a really hard question, actually, because you know the temptation is to say, oh, you should follow the course of what the one that I did.
• 12:40
  SPEAKER_02: So obviously, going through all of the different jobs that you possibly can within a IFA firm before becoming an advisor, so that you understand the administration aspect of it, understand how quite frankly annoying product providers can be at times.
• 12:56
  SPEAKER_02: Um obviously going from the product provider, understanding the sort of limitations that they've got, the processes in place, and so on, and understanding obviously the technical aspect of power planning as well.
• 13:12
  SPEAKER_02: They're all really, really important.
• 13:14
  SPEAKER_02: And I personally would always tell somebody to go down that route.
• 13:18
  SPEAKER_02: But academies have their place as well, especially for um certain types of firms, maybe that work on a more sales role.
• 13:28
  SPEAKER_02: Um and actually saying that, I think if you're thinking about the relationship side of it only, then an academy that teaches you that element of it is pretty useful.
• 13:41
  SPEAKER_02: Um so yeah, so I guess I'm not really answering your question.
• 13:45
  SPEAKER_02: I'd sort of say that it's good that there's a benefit to both of you.
• 13:50
  SPEAKER_00: That's very on the fence.
• 13:51
  SPEAKER_02: I think it also Yeah.
• 13:54
  SPEAKER_02: Well, I kind of think it depends on your personality slightly and what you're hoping to get out of it.
• 13:59
  SPEAKER_02: For me personally, um I am a bit of a school SWAT.
• 14:03
  SPEAKER_02: The technical side of it is quite important to me.
• 14:06
  SPEAKER_02: I quite, you know, I enjoy that side of it.
• 14:09
  SPEAKER_02: If you're somebody who really, really just wants to focus on the relationship side, then possibly actually the academies is a is a better way forward because you can always go back and learn the technical side of it as well.
• 14:23
  SPEAKER_00: So do you um I like the fact that you identified the relationship side and also the technical side because not everybody has a passion for the technical side.
• 14:31
  SPEAKER_00: Um, and some people struggle with the relationship side, correct?
• 14:34
  SPEAKER_00: You know, that's just the way it is.
• 14:36
  SPEAKER_00: Um do you think, you know, when you what what you're looking at with a lot of the academies out there now is that they are trying to target second careerists, so people that might well have built strong relationships, but in other professions, you know, somebody that is, you know, that has shown an aptitude to learn could be like a teacher, but a teacher's really good at simplifying quite complicated information.
• 14:59
  SPEAKER_00: So they're good at presenting and they're good at talking to groups of people, um, they're good at taking somebody through a process, but also there's a there is a um a discipline to being a teacher as well, because you've got to do all your um keep up to date with things, you've got to do exam questions and all those typical types of things.
• 15:16
  SPEAKER_00: And you have a governing body behind you making sure you're doing things right, you're following a curriculum.
• 15:20
  SPEAKER_00: So there are some kind of like transferableness there.
• 15:23
  SPEAKER_00: And if, say, for example, you are in sales, right?
• 15:25
  SPEAKER_00: You could be in media sales, marketing, you know, the likelihood is you've probably got to go out and and and and you know, scratch around in the dirt to try and find clients, you understand how difficult and tough that that element of a role um could well be.
• 15:39
  SPEAKER_00: And you you kind of said there about, you know, these more sales-focused financial advice companies, right?
• 15:45
  SPEAKER_00: Yeah, I suppose if you were a salesperson and you come from a sales background and it's a you know uh a product provider type route, then yeah, it's a very simple transitional step across into being an advisor.
• 15:59
  SPEAKER_00: Are you IFA?
• 16:02
  SPEAKER_00: Uh yes, yeah.
• 16:04
  SPEAKER_00: Yes, you are IFA.
• 16:05
  SPEAKER_00: Okay.
• 16:06
  SPEAKER_00: And um, would you ever step away from being an IFA out of interest?
• 16:09
  SPEAKER_00: You know, if if you know, would you ever go and you know, I'm really interested in this.
• 16:13
  SPEAKER_00: When you see when you've gone down, because you've gone in, gone down the IFA route, right?
• 16:17
  SPEAKER_00: The bulk of your career has been in IFA.
• 16:20
  SPEAKER_00: Being in an IFA environment, would you ever go and work for a restricted proposition, for instance?
• 16:30
  SPEAKER_03: I think it depends on the company culture.
• 16:33
  SPEAKER_01: Okay.
• 16:34
  SPEAKER_02: If you're doing the right thing for a client and you've got the clients at the heart of it, then realistically I don't think there's much of a difference between being able to go to anyone and being able to go to one place if that place is really good for clients.
• 16:56
  SPEAKER_02: If they're able to offer, you know, good products at good cost, then I don't really see that it can be that it's totally a negative thing.
• 17:09
  SPEAKER_00: There's a place for both, right?
• 17:10
  SPEAKER_00: Is that what you're saying?
• 17:11
  SPEAKER_00: You know, there's a restrictive proposition out there, and as long as it's right for the clients, then great.
• 17:15
  SPEAKER_00: And there's an IFA approach, and if that's right for the clients, then great.
• 17:18
  SPEAKER_00: If culturally the business as well matches your values, your intrinsic values, and it sounds like a great place to work, then that's something that would attract you as well.
• 17:26
  SPEAKER_00: Okay, cool.
• 17:27
  SPEAKER_00: Well, that's a good answer.
• 17:28
  SPEAKER_00: I'm you know, I'm happy to hear that.
• 17:29
  SPEAKER_00: You can sometimes you get IFAs and they're quite staunch IFAs, aren't they?
• 17:32
  SPEAKER_00: It is IFA or the highway, and anything outside of that is like totally wrong.
• 17:37
  SPEAKER_00: Um, but I feel that's a bit too black and I think it's a bit too black and white, white in this world of financial for advice and financial planning now.
• 17:43
  SPEAKER_02: Yeah, I'm not sure if that's a bit of a historic um thought as well.
• 17:49
  SPEAKER_02: I don't think younger people who might not have been around when certain things were going on, maybe in the 80s and 90s, would have quite a similar view to people that have seen, you know, possibly not quite right things happening years ago.
• 18:07
  SPEAKER_02: So it it can actually but it's possibly a generational thing.
• 18:12
  SPEAKER_00: You obviously had an experience of of clients or customers with pension funds where their monies were invested in some pretty dodgy places.
• 18:21
  SPEAKER_00: Um and that opened your eyes, I suppose, to what could go wrong within financial planning and how a client or a customer can be at a position in their life crying on the telephone because perhaps their funds haven't performed as much and the monies were invested in something that they didn't quite understand.
• 18:37
  SPEAKER_00: And that obviously touched a nerve with you, didn't it?
• 18:42
  SPEAKER_02: Yeah, completely.
• 18:43
  SPEAKER_02: Well, actually, that was an IFA recommending that, you know, and so that that's the that's the thing, isn't it?
• 18:52
  SPEAKER_02: You can be in a restricted environment or an IFA if you're restricted or advising on something bad.
• 19:00
  SPEAKER_02: That's really not very good for the client.
• 19:03
  SPEAKER_02: Um, it doesn't really matter which routes you're down, if if that's due proposition, it that's just not something that I would ever want to be involved in.
• 19:12
  SPEAKER_00: Great stuff.
• 19:13
  SPEAKER_00: No, I get it.
• 19:14
  SPEAKER_00: Great.
• 19:15
  SPEAKER_00: Um, let's talk a little bit about your journey then in your current firm, because you'd gone from power planning and you've moved into more of an assistant financial planner role, and then onto the role of financial advisor.
• 19:28
  SPEAKER_00: So just tell us a little bit about that route.
• 19:30
  SPEAKER_00: Was there was there a role there already?
• 19:32
  SPEAKER_00: Was there a career progression framework that you were just following?
• 19:36
  SPEAKER_00: Or was it something built around you as a person within that firm to help get you to the level and transition across to financial advisor?
• 19:47
  SPEAKER_00: Because there's around 9,000 power planners, they reckon, in the UK.
• 19:51
  SPEAKER_00: Uh, and they reckon a lot of those individuals are actually female, for example.
• 19:54
  SPEAKER_00: There's a distinct lack of female financial advisors.
• 19:57
  SPEAKER_00: I wonder how many of them are sitting in those roles and not really being given the opportunity to become advisors because there isn't a c a clear career framework.
• 20:06
  SPEAKER_00: So, really interested to hear your journey around from power planner to assistant advisor or yeah, to to financial planner and what your journey was like.
• 20:16
  SPEAKER_00: Can we talk a little bit about that?
• 20:17
  SPEAKER_00: Can you share with us that journey?
• 20:21
  SPEAKER_02: Yes, I think there's sort of two elements of it, really.
• 20:24
  SPEAKER_02: Um obviously the qualification side.
• 20:28
  SPEAKER_02: So in our um in the company that I work for now, all of the planners uh all the power planners are either charted or um working towards being charted.
• 20:40
  SPEAKER_02: And that's really something that they do push because you need that technical knowledge, especially when you're dealing with people with really complex needs, the high net worth, ultra-high net worth of clients.
• 20:52
  SPEAKER_02: And then there's then the sort of framework around development.
• 20:57
  SPEAKER_02: So there is now being put in place a proper framework.
• 21:04
  SPEAKER_02: Um, there hasn't really been before.
• 21:07
  SPEAKER_02: It's more about making sure that you charted, having that experience with different types of clients, being involved in those meetings from very very early on.
• 21:18
  SPEAKER_02: So, you know, within a couple of months of me being at FBC, I was involved in client meetings, maybe presenting a small section to start off with on the work that I'd done to presenting the cash flow forecasting tool, and then moving on to presenting most of the actual advice, um, running the meeting, preparing the agenda, contacting the client pre and after the meeting as well.
• 21:46
  SPEAKER_02: So that's kind of what I've done.
• 21:49
  SPEAKER_02: Um, moved obviously in parallel.
• 21:52
  SPEAKER_02: So doing the exams, gaining that technical knowledge, whilst also getting involved with the client.
• 22:00
  SPEAKER_02: Being involved in that meeting, being really key in that meeting, developing my presentation skills, confidence with clients.
• 22:10
  SPEAKER_02: I wouldn't say that I'm 100% confidence now, but it's definitely getting there.
• 22:16
  SPEAKER_02: I've worked with um Adam Rowan of NextGen Planners on like presenting.
• 22:21
  SPEAKER_02: So I am naturally very, very shy.
• 22:24
  SPEAKER_02: It's not really my kind of thing to be doing this at all, but working with him really, really helped.
• 22:31
  SPEAKER_02: So and an FPC really pushed that as well for me.
• 22:35
  SPEAKER_02: I had to say, you know, you've got to say yes to opportunities that scare you a little bit.
• 22:41
  SPEAKER_02: So when they said, you know, do you want to work with Adam on that?
• 22:45
  SPEAKER_02: The thought of actually getting up and presenting isn't, you know, it did fill me with dread a little bit.
• 22:51
  SPEAKER_02: But I just said, you know, I said, yes, let's do this, let's give it a go.
• 22:56
  SPEAKER_02: What's the worst that can happen?
• 22:58
  SPEAKER_02: Um, so I've done that as well.
• 23:00
  SPEAKER_02: And I'd say to anyone who's looking to move from the power planning role to the advisor role, firstly speak to your advisor or your line manager and ask them, how do you think I should go about doing that?
• 23:16
  SPEAKER_02: Get involved with clients in meetings, even if it's just staff that presenting that piece of advice that you've been working on or presenting the cash flow forecast.
• 23:27
  SPEAKER_02: It just gets you confident in speaking, confident in addressing client questions, for example, before moving on to actually managing most of the meeting.
• 23:40
  SPEAKER_02: I think that's a really good way of doing it because it's small bite-sized and you're presenting something that you know really well as the PowerPlanet, very technical, technically competent.
• 23:51
  SPEAKER_02: If you can talk about something that you know inside and out, because you'll have known all of the charges that are going to be paid on this particular plan, you'll have known all of the fence that they're going to be in, you know, all of that.
• 24:05
  SPEAKER_02: So you will be able to actually, you know, talk to a client about that with no problem.
• 24:12
  SPEAKER_00: It's something that I hear time and time again with those that are power planners that are transitioning to becoming financial advisors, is to pester the financial advisor to say, can I come in and can I take a section or a presentation and deliver it?
• 24:27
  SPEAKER_00: And you know, I've been working over the last 15 years with businesses of all different shapes and sizes.
• 24:32
  SPEAKER_00: And some of those London boutique private office type firms position the team within that meeting.
• 24:40
  SPEAKER_00: So if someone comes in and they're of ultra-high net worth, for example, right, they'll sit down and it'd be like, here's the client relationship manager, you know, they'll be dealing with you with this, this, and this.
• 24:50
  SPEAKER_00: And here's our technical power planner.
• 24:52
  SPEAKER_00: And by the way, here's our head of investments.
• 24:54
  SPEAKER_00: I'm the chartered financial planner here.
• 24:56
  SPEAKER_00: You know, as a team, we're going to look after you and your family.
• 24:59
  SPEAKER_00: And I love that because it does position each person as an expert within that business.
• 25:04
  SPEAKER_00: And it just gives that client like this idea of well, confidence that the fee that they're paying is being put to good use and that it's not just one person spinning a load of plates and shuffling a few papers around.
• 25:16
  SPEAKER_00: There's a lot of expertise that go into it.
• 25:18
  SPEAKER_00: And I think naturally, financial advisors who um are more relationship oriented and get a buzz out of winning new client relationships, presenting, talking to people, you know, going after the hunter, if you like, right?
• 25:31
  SPEAKER_00: They're not natural sometimes, they're not naturally, I'm not saying all of them, but sometimes they're not naturally as interested in the technical detail.
• 25:39
  SPEAKER_00: But a power planner knows the inside, it knows it inside out.
• 25:42
  SPEAKER_00: So it's again leaning into people's strengths within a business, isn't it?
• 25:45
  SPEAKER_00: It only ever reinforces.
• 25:47
  SPEAKER_00: Um, if I've if I'm like love bringing people in, I'd be like, come and meet the power planner.
• 25:53
  SPEAKER_00: I would be like, come and meet this person who's an absolute expert on this.
• 25:56
  SPEAKER_00: And this is the research they've done and they're going to present it to you.
• 26:00
  SPEAKER_00: And I just think it's a fantastic way to make that transition into client-facing advice in a gradual way, which is why I'm a big fan of the admin to power planner to financial advisor advisor route for people that haven't got that relationship experience.
• 26:16
  SPEAKER_00: And I think it's a fantastic route also for those who that are younger.
• 26:21
  SPEAKER_00: You know, I think I think people that are that are leaving school, I think people are leaving college, people that are leaving university, I'm not saying it's for everyone, but I reckon I'm gonna put it out there, the majority of them haven't got enough life experience to be sitting down and giving financial advice, I don't think, personally.
• 26:38
  SPEAKER_00: I'm you know, so I get challenged on that for being, you know, ageism or whatever, but I don't think that I I don't think they are.
• 26:44
  SPEAKER_00: And and and collectively, when I look at the profession, that is the case, right?
• 26:48
  SPEAKER_00: So it's a lovely route into becoming that financial advisor.
• 26:54
  SPEAKER_00: Um and also it's a great way to build knowledge and confidence as you progress through the different role uh roles and the different stages.
• 27:03
  SPEAKER_00: And I would always say to somebody, anyways, look, if you're starting out in administration, right, and you've got no experience at financial planning, don't look at administration as being below the financial advisor or below the power planner.
• 27:15
  SPEAKER_00: Because I'll tell you one thing, it's one of the most instrumental pieces of the puzzle of a business, right?
• 27:20
  SPEAKER_00: Big, big support comes from the administrators.
• 27:22
  SPEAKER_00: It's an important role.
• 27:24
  SPEAKER_00: But then also the profession is crying out for new people to join it, right?
• 27:30
  SPEAKER_00: If you get the opportunity to go in as a power planner, your salary probably at entry level could be anywhere really, depending upon your experience, between 21 and 25k, let's say, right?
• 27:40
  SPEAKER_00: As a as a as an administrator.
• 27:43
  SPEAKER_00: But once you've got that year's worth of experience, your candidature shoots through the roof because you've got experience.
• 27:50
  SPEAKER_00: So whether that's renegotiating a higher basic salary where you remain, or taking a look on the open market as to what other opportunities are out there to help you progress your career that little bit further.
• 27:59
  SPEAKER_00: Now you've moved around as well, haven't you?
• 28:01
  SPEAKER_00: You haven't stayed in one company all your life, and that's exactly what's happened to you.
• 28:05
  SPEAKER_00: Would you agree that you know that stepping stone entry-level administration point, after a certain period of time, your candidature does go up?
• 28:15
  SPEAKER_03: Completely.
• 28:16
  SPEAKER_02: I think what you said about younger people, specifically when they don't have that life experience and you are straight out of school or straight out of university.
• 28:27
  SPEAKER_02: You're not used to working in an office.
• 28:30
  SPEAKER_02: I certainly wasn't.
• 28:31
  SPEAKER_02: The first couple of days when I first joined an office, I think, my god, people have drink a lot of tea, don't they?
• 28:38
  SPEAKER_02: Um, and then doing the first couple of exams, um, you've then got the experience, you've got exams behind you.
• 28:46
  SPEAKER_02: Getting to that diploma level basically just opens your opens doors everywhere because there aren't that many people with diplomas getting to chartered, you know, it there is a jump between diploma and chartered, but doing it just opens so many doors for you.
• 29:05
  SPEAKER_02: And I think you're right, actually, starting from admin, doing all the various roles really helps you understand how everything works.
• 29:15
  SPEAKER_02: An advisor that might not have done the admin role ever might not actually understand that it takes a couple of weeks for a payment to go through.
• 29:24
  SPEAKER_02: It's simple things like that that actually make you really good at your job.
• 29:29
  SPEAKER_02: If you've if you've done every other job, you can appreciate it.
• 29:32
  SPEAKER_02: And it's not, as you said, it's not that anything's beneath each other or that the advisor's the top role.
• 29:39
  SPEAKER_02: It's that team element.
• 29:41
  SPEAKER_02: Nothing would work if admin weren't there to do it.
• 29:45
  SPEAKER_00: Yeah, and it's a great way for you as an individual to manage your expectations of others.
• 29:50
  SPEAKER_00: So when you're a you know, this is where like the argument sometimes is like you're a financial advisor, you come in, sorry, you're not working in financial advice, but you fast track yourself to becoming a financial advisor.
• 29:58
  SPEAKER_00: You don't really know how to manage the expectations.
• 30:01
  SPEAKER_00: But you've got no idea of how long things things take.
• 30:03
  SPEAKER_00: You know, you're just like, oh, right, great, I've sat down with somebody and now I want this done and you want it done instantly.
• 30:07
  SPEAKER_00: And it's like, well, you know, I'm at the beck and call of a product provider with the letters of authority, all that kind of stuff.
• 30:14
  SPEAKER_00: I've got to wait for it all to come back.
• 30:16
  SPEAKER_00: That goes into a queue.
• 30:17
  SPEAKER_00: Uh I know all of this because I used to do it at a Viva, you know, used to be on the run the customer service team at a Viva.
• 30:22
  SPEAKER_00: So I know how long it takes for a financial and how frustrating it can be for financial advisors to wait for information to come back.
• 30:27
  SPEAKER_00: But when you're an administrator, you've got experience of it.
• 30:30
  SPEAKER_00: When you're a financial advisor and you've worked through the different roles, you can manage your own personal expectations, uh, the client's expectations, but also the team's expectations.
• 30:39
  SPEAKER_00: So you become a karma presence, I guess, within the whole process.
• 30:44
  SPEAKER_02: Yeah, definitely.
• 30:45
  SPEAKER_02: Definitely.
• 30:46
  SPEAKER_02: Actually, there's um an example of that with my one of my old um IFAs I used to work with, where he'd requested um this payment to be made.
• 30:57
  SPEAKER_02: I can't remember the exact details, but he was adamant that it could be done.
• 31:01
  SPEAKER_02: He told the clients, the clients was expecting it, and I just kept on saying, can't do it, but you know, it won't be this week, it will be in two weeks' time.
• 31:10
  SPEAKER_02: That's just the way it is.
• 31:13
  SPEAKER_02: And he then looked, you know, he didn't look that great to the clients because he just hadn't really thought about how things actually work and the time that it takes to do certain things in practice.
• 31:27
  SPEAKER_02: So yeah, I completely agree with you.
• 31:29
  SPEAKER_01: Cool.
• 31:29
  SPEAKER_02: And it's that calming presence, isn't it?
• 31:31
  SPEAKER_02: That if you understand that role, then you're gonna be a bit better at managing.
• 31:38
  SPEAKER_00: Yeah, and I think again, you know, it's that learning, it's the learning experience.
• 31:41
  SPEAKER_00: And there's nothing wrong with that going, you know, people who kind of want to turn their nose up at the admin to I get it.
• 31:45
  SPEAKER_00: Do you know why I get it?
• 31:46
  SPEAKER_00: I get it why people do turn their nose up at it.
• 31:48
  SPEAKER_00: I don't think it's to do with starting out as an administrator, actually.
• 31:53
  SPEAKER_00: I think it's more to do with the salary that's attached to it.
• 31:55
  SPEAKER_00: So the entry level point into becoming a financial advisor, if you're working for another kind, if you're working in another profession, you might be earning, you know, 50, 60, 70, 80 basic, right?
• 32:03
  SPEAKER_00: And then all of a sudden it's like, well, I've heard heard the crying out for financial advisors.
• 32:07
  SPEAKER_00: So I'm gonna go and with my experience, I'll get qualified and I can become a financial advisor and boom, I'm away.
• 32:12
  SPEAKER_00: But when they learn about the salaries in financial advice that aren't as high as what they think they're gonna be, it's kind of like, well, and you want me to start as an as an administrator and start at that level, which makes total sense actually, but I can't afford it.
• 32:26
  SPEAKER_00: So there's that gap, there's that that barrier to entry that that can happen, um, which is why it's great to position financial planning as a career to those that are coming out of university.
• 32:39
  SPEAKER_00: And the quicker you can get somebody educated about it, the quicker they can start their career journey.
• 32:44
  SPEAKER_00: Because your 20s, you can build that knowledge, build those qualifications, and you steamroll like yourself into, you know, not how old you are, but you steamroll into your late 20s, into your 30s, qualified and experienced at that stage of your life, and gradually have learned the relationship side of it as well, especially if you're not a naturally um outgoing relationship-building type individual, you know, let's say an extrovert, you're not a natural extrovert.
• 33:13
  SPEAKER_00: It gives you that gradual ability to roll through it.
• 33:17
  SPEAKER_00: Um, okay, that's good news.
• 33:18
  SPEAKER_00: Tell us a little bit about what it's like being a female in the profession then, because distinct lack of lack of women in the profession.
• 33:23
  SPEAKER_00: Have you found it difficult at all?
• 33:24
  SPEAKER_00: Is the opportunities been presented to you?
• 33:26
  SPEAKER_00: Have you come up against barriers?
• 33:28
  SPEAKER_00: Um, do you get talked to differently by clients or male colleagues?
• 33:34
  SPEAKER_00: Tell us a little bit about your journey and your experience being a female in the financial planning profession.
• 33:41
  SPEAKER_03: There's definitely benefits and um a couple of drawbacks as well.
• 33:46
  SPEAKER_02: So I think where I used to work, um the focus was on sales.
• 33:54
  SPEAKER_02: So an IFA was very much the advisor was a salesperson, and a lot of well, all of the advisors were male, and it was that kind of um that kind of place really.
• 34:08
  SPEAKER_02: One of the the chairman of the company, he was a mentor of mine, and he said to me, you know, Helen, you you're gonna have to do a lot more exams, you're gonna have to prove yourself a lot more than most of these men because you're a woman.
• 34:25
  SPEAKER_02: Now, obviously, he wasn't saying that, you know, it does come across now as like, oh, but he wasn't saying that out of being maladies, you know, there was no sort of um bad angle to that.
• 34:38
  SPEAKER_02: He just could see what was going on, and he was just giving me his advice on it.
• 34:43
  SPEAKER_02: And I think that that's true to some extent with some people, but I don't think it's necessarily um a thing to worry about coming into the profession anymore.
• 34:54
  SPEAKER_02: I think that's probably something that's in the past.
• 34:58
  SPEAKER_02: My um company that I work for now is predominantly so there's um three partners, two of them are women and they're very much all about equality.
• 35:10
  SPEAKER_02: It doesn't really matter if you're a woman or a man, whatever, it's about actually doing a really good job.
• 35:16
  SPEAKER_02: And that's um the basic line, really, for them.
• 35:21
  SPEAKER_02: I think there's a really good space as we sort of transition from a financial planner being about the technical knowledge to it being about life planning, building that relationship, the psychology of how people view money.
• 35:38
  SPEAKER_02: I think actually it's probably gonna grow into a profession that women are gonna be absolutely chasing because we are naturally people that like to ask people questions, get to know people, build up that relationship, empathetic.
• 35:56
  SPEAKER_02: So actually, I I don't think I don't think in the future there will be sort of that it's it's a male-dominated place.
• 36:05
  SPEAKER_02: That's not gonna exist.
• 36:07
  SPEAKER_02: I don't think it does exist anymore.
• 36:11
  SPEAKER_00: The um conversation you had with the male colleague is one that is women within the profession have had with male colleagues for years.
• 36:21
  SPEAKER_00: It's funny, it's always been said whenever I ask somebody this question or talk about it, they always say, because someone a male colleague said to me, because I'm female, I'm gonna have to study harder, I'm gonna have to become chartered just to stand out.
• 36:36
  SPEAKER_00: It was this common kind of theme, and I've heard it.
• 36:39
  SPEAKER_00: And um, you know, uh things change, don't they?
• 36:42
  SPEAKER_00: And I hope it continues to change.
• 36:43
  SPEAKER_00: Your identification there also around like where it's geared towards more life planning the profession, uh, more from a psychology perspective, um, about the relationships.
• 36:54
  SPEAKER_00: Um, I think it does lend itself to women as well.
• 36:57
  SPEAKER_00: I think, you know, you are women are are naturally more empathetic.
• 37:00
  SPEAKER_00: That's not to say men aren't empathetic, by the way.
• 37:03
  SPEAKER_00: Like there's loads of men that are really empathetic.
• 37:05
  SPEAKER_00: I work on my empathy.
• 37:06
  SPEAKER_00: It's a it's an area that I've improved upon year upon year upon year.
• 37:10
  SPEAKER_00: I think men naturally aren't very empathetic to themselves, you know, and that's showing in statistics around men's men's mental health and the reason why I'm doing things with Talk Club, for example, around men's mental fitness.
• 37:22
  SPEAKER_00: I think men are starting to become more understanding, more empathetic, less bullish, less prideful, less male, and are starting to loosen up a little bit and soften up a little bit and allowing them to be vulnerable, for instance.
• 37:36
  SPEAKER_00: Women are quite quite good at being vulnerable, I think.
• 37:38
  SPEAKER_00: They're quite good at showing that vulnerability to each other.
• 37:41
  SPEAKER_00: Um, I don't imagine, you know, I couldn't imagine, you know, I'm not a woman, but I can imagine sitting in front of a guy who's a financial advisor with his suit and tie on or whatever, and quite bullish and quite sort of, you know, I don't know, confident, and men can be quite naturally sometimes a bit more bullish and aggressive, if you like.
• 38:01
  SPEAKER_00: It could it must be quite off-putting to a female.
• 38:04
  SPEAKER_00: I could find that.
• 38:05
  SPEAKER_00: And that's why I think there's a definite need for more women within the profession, because there's a hell of a lot more entrepreneurial women out there as business owners.
• 38:12
  SPEAKER_00: 53% of all millionaires in the next few years are going to be women.
• 38:16
  SPEAKER_00: Women are more accountable for the finances now within the household.
• 38:20
  SPEAKER_00: I mean, huge opportunity for women, right?
• 38:24
  SPEAKER_02: Yeah, I think it's quite interesting.
• 38:26
  SPEAKER_02: So a couple of our clients who've come abroad, it's it's the men that have come abroad looking for financial advice, be that if they've sold a company.
• 38:36
  SPEAKER_02: A lot of them have sort of commented that what would happen if something happened to me.
• 38:42
  SPEAKER_02: I want to make sure that my wife and my girls, my you know, my children are okay and that they can talk to an advisor that they would like.
• 38:53
  SPEAKER_02: And so that comment has been sort of said quite a few times as a reason why they've chosen a um female advisor over a male advisor, and I think that's quite interesting.
• 39:06
  SPEAKER_02: Um, but FPC, um, we recently hosted a Mid-Side Women of the Year business branch, so it's um affiliated with the Maid Side Women of the Year Awards.
• 39:18
  SPEAKER_02: And at that branch, we asked um every attendee to fill in this questionnaire about their financial planning, what they have.
• 39:27
  SPEAKER_02: So it was just basic questions, really.
• 39:30
  SPEAKER_02: It was to do with whether they had um wills in place, lasting powers of attorney, um, if they had a financial advisor or solicitor or an accountant, um, if they had a savings account, um, an ICE, straps and shares ICE potentially, an investment portfolio pension.
• 39:51
  SPEAKER_02: And I think there was one question also about what you expect to get with your state pension.
• 39:56
  SPEAKER_02: And it was quite revealing actually, how many people didn't have any sort of advice at all, how many people only had a pension that they um set up via work and a sales account, um, and how many people had absolutely no idea what their state pension entitlement would be, considering most of these women were um between the age of say 30 and 50, a lot of them.
• 40:26
  SPEAKER_02: So there's definitely that financial um planning need for women as well.
• 40:32
  SPEAKER_02: And I think maybe you're right in terms of it's easier to talk to somebody like you.
• 40:40
  SPEAKER_02: So women talking to women is possibly easier.
• 40:44
  SPEAKER_02: Um and so yeah, there's definitely, definitely a need.
• 40:48
  SPEAKER_02: Um, there's so many statistics out there, isn't there, about um financial education within women, the fact that women um retire with less money in their pensions, all of that, there's definitely, definitely a need for women to actually come and talk to advisors, be that male, female, you know, there's definitely that needs.
• 41:09
  SPEAKER_02: And if they they feel more comfortable talking to a woman, then we need to have more um women as advisors.
• 41:17
  SPEAKER_00: Okay, so let's let's talk about financial education and um the distinct need for it really within the UK.
• 41:27
  SPEAKER_00: What are you what are you what are you doing about financial education?
• 41:30
  SPEAKER_00: Is that part of your sort of strategy to get yourself out there as a financial planner?
• 41:36
  SPEAKER_03: Yeah, completely.
• 41:37
  SPEAKER_02: So um at FPC we got invited to do a maths and industry day for a local all-girls score.
• 41:46
  SPEAKER_02: This was in 2018, I think it was.
• 41:49
  SPEAKER_02: And that was basically around the fact that a lot of um girls in particular don't take maths and STEM in general um subject to A level.
• 42:01
  SPEAKER_02: So this was a session with year 10 students around the different jobs available that have an element in maths to them.
• 42:12
  SPEAKER_02: So obviously, financial planning, the technical side is obviously um maths A.
• 42:18
  SPEAKER_02: So we did that at first.
• 42:20
  SPEAKER_02: Um, I basically just developed a presentation and we talked a lot, maybe maybe slightly too much actually about maths, um cumulative interest being probably the most important element of that.
• 42:34
  SPEAKER_02: And obviously that's quite mathematical, but when you look at the actual equation for it, um but from that it sort of developed um a want to educate students about how important financial planning is for them.
• 42:55
  SPEAKER_02: I think a lot of the girls on that day talked about needing to save that that's what they had in mind.
• 43:02
  SPEAKER_02: It was saving, so putting money in a bank, and that and that's pretty much it.
• 43:08
  SPEAKER_02: That's what they had in mind.
• 43:09
  SPEAKER_02: Whereas when I spoke to students that were boys, um, and this is obviously a generalization, but this is kind of what I found boys were talking about.
• 43:19
  SPEAKER_02: Oh, it's really cool.
• 43:20
  SPEAKER_02: Have you seen that ETF?
• 43:22
  SPEAKER_02: Um, you know, do you put money in stocks?
• 43:25
  SPEAKER_02: Do you like do stuff like that?
• 43:27
  SPEAKER_02: Um and so I thought something actually probably does need to be done here.
• 43:33
  SPEAKER_02: Um, so I joined up, I think this was in 2019, just before the pandemic, joined up um to become an education champion with the my personal finance skills with the CII PFAS.
• 43:47
  SPEAKER_02: So from that, I've started doing workshops in schools.
• 43:52
  SPEAKER_02: Um don't know how much I'm up to now, um, but it's basically just going into local schools, delivering um a range of different work.
• 44:00
  SPEAKER_02: Workshops to students, mainly between year 10 and year 13, and delivering the Discover Fortunes game.
• 44:08
  SPEAKER_02: So if you've never seen that, that's a brilliant game to start off with.
• 44:11
  SPEAKER_00: What game is that?
• 44:12
  SPEAKER_02: And really, it's called Discover Fortunes.
• 44:15
  SPEAKER_02: Um, and students really get involved with it.
• 44:19
  SPEAKER_02: So there's five different scenarios, and they become the financial planners.
• 44:25
  SPEAKER_02: So you listen to a hypothetical client who's got certain needs.
• 44:34
  SPEAKER_02: Um, and she wants to buy a house, and so saving for house deposits, and she wants to start her own business potentially in the future.
• 44:44
  SPEAKER_02: So the students get to listen to all these soft facts about what she wants, her objectives.
• 44:51
  SPEAKER_02: We look at risk profiling um and look at the personality types with that.
• 44:57
  SPEAKER_02: And basically, students become financial planners for the day.
• 45:01
  SPEAKER_02: So they get to allocate some money towards saving investments, pensions, and protection.
• 45:09
  SPEAKER_02: And that's a really, really, really good way of getting students thinking about things, obviously from a professional point of view, obviously the different elements that there are to becoming a financial planner, but also thinking about their own life and oh yeah, so if I want a house by the time I'm 30, then I need to think about savings.
• 45:32
  SPEAKER_02: But actually, if I want to retire at 50, then I also need to start thinking about pensions and investments as well.
• 45:38
  SPEAKER_02: So that's a really good way to introduce financial planning to students.
• 45:44
  SPEAKER_02: I found a lot of the workshops that the um that you can do through education champions really do give a really good base level education for students.
• 45:57
  SPEAKER_02: I did one um a couple of months ago that was about credit and debt, and it was for U 12 students.
• 46:08
  SPEAKER_02: And one of the girls' comments at the end was like, miss, you know, I've been told like that you can't get into debt at all, then it's really, really, really bad, and that all my money should be in a bank.
• 46:21
  SPEAKER_02: And I just I think that's like I should have, you know, I should think about investment, shouldn't I?
• 46:26
  SPEAKER_02: And I should think about um savings, and you know, a debt is also a mortgage.
• 46:32
  SPEAKER_02: And so if we want to get a house, I probably need a mortgage.
• 46:35
  SPEAKER_02: I was like, yeah, pretty much it's great to actually have that feedback that from a place where she needs to hold, never get into debt, save all the time, to actually understanding the various different types of debt, that's as good as well as good debt as well as bad debts, um, to think about investments, not just putting money into a bank, to think about the cumulative interest um in a sort of risk, in a sort of way that meets that met her sort of risk personality, risk profile.
• 47:14
  SPEAKER_02: That's really, really good.
• 47:16
  SPEAKER_02: So I'd say to anyone who's thinking about that, definitely, definitely get involved with something like the personal finance skills.
• 47:25
  SPEAKER_02: But also um one of the reasons why I really got into it from a personal point of view was to get myself a bit more confident in speaking in front of people.
• 47:36
  SPEAKER_02: I think if you can speak to a bunch of students who are between the age of 14 and 18 who quite frankly are a bit bored.
• 47:48
  SPEAKER_02: They don't want to hear about, oh, this is another thing about many.
• 47:51
  SPEAKER_02: Oh god, it's gonna be boring.
• 47:54
  SPEAKER_02: If you can engage students to actually think, oh yeah, this is actually something that I really should be thinking about.
• 48:02
  SPEAKER_02: That that really does help with your confidence.
• 48:06
  SPEAKER_02: Um, you know, you don't have a captive audience, they do not want to be there.
• 48:10
  SPEAKER_02: They've been told they have to see the end of these sessions, and then they go away and actually, oh yeah, thanks, Miss.
• 48:16
  SPEAKER_02: That's really helpful.
• 48:17
  SPEAKER_02: Um that's really rewarding.
• 48:20
  SPEAKER_00: Yeah, a good place to cut your teeth if you're somebody that lacks a bit of confidence within financial planning.
• 48:24
  SPEAKER_00: Get out there and give some financial educations to school.
• 48:27
  SPEAKER_00: Um, that's really good advice.
• 48:28
  SPEAKER_00: I love it.
• 48:29
  SPEAKER_00: Okay, great.
• 48:30
  SPEAKER_00: Um, okay, look, let's just talk just now.
• 48:33
  SPEAKER_00: Let's wrap things up and let's just talk a little bit about what you're doing right now in the here and here and now.
• 48:38
  SPEAKER_00: Okay.
• 48:39
  SPEAKER_00: You are a financial planner right now.
• 48:41
  SPEAKER_00: Um, are you sitting down with clients and giving full financial advice?
• 48:44
  SPEAKER_00: Are you having to go out and win new clients?
• 48:47
  SPEAKER_00: Are you doing uh new business or are you servicing existing clients?
• 48:50
  SPEAKER_00: What does the role look like for you?
• 48:54
  SPEAKER_02: So at the moment, it's um mostly servicing existing clients.
• 48:58
  SPEAKER_02: So it's at the moment it's a bit of a transition between the um advisors and the partners who are winding back and taking over their clients slowly.
• 49:10
  SPEAKER_02: So over the five years that I've worked at FBC, you know, I've been involved with them from the start.
• 49:19
  SPEAKER_02: So taking over their financial planning.
• 49:22
  SPEAKER_02: Um there's a few new clients that are coming on board where I'm working with the advisor and building out that sort of knowledge and building out my uh I guess I would sort of say my sort of um rapport with clients, not having to sort of go straight into finding new clients myself.
• 49:45
  SPEAKER_02: Um so that's where I am at the moment.
• 49:48
  SPEAKER_02: Hopefully, by um in the next couple of well, hopefully in the next two years or so, I'll be able to fully confidently go out and win new clients.
• 49:58
  SPEAKER_02: That's where I want to get to.
• 50:00
  SPEAKER_02: But it's within FPC, it's not about pushing you to do that.
• 50:05
  SPEAKER_02: It's not about you have to, you know, make the sales to get the bonus.
• 50:10
  SPEAKER_02: Um, it's very much being confident in what you're doing and working towards that, really.
• 50:18
  SPEAKER_00: Excellent, great.
• 50:19
  SPEAKER_00: So you're in a really good place then.
• 50:20
  SPEAKER_00: It's nice to be able to transition with a business where it's not all about winning new business, it's about gradually sort of being introduced to clients.
• 50:28
  SPEAKER_00: And I guess that's part of their journey there, isn't it?
• 50:31
  SPEAKER_00: Um, is to take you from that power planning role, gradually put you in front of clients, but then gradually bring in the full financial planning.
• 50:38
  SPEAKER_00: So it's not as overwhelming for somebody like you who probably isn't naturally confident, right?
• 50:46
  SPEAKER_00: I was probably kind of guessing a little bit.
• 50:48
  SPEAKER_00: You're not, you know, you're not a natural extrovert, you're not naturally confident.
• 50:51
  SPEAKER_00: Um, you know, I've picked up on that just from talking to you.
• 50:55
  SPEAKER_00: Um so for you, that journey has been perfect, isn't it?
• 50:57
  SPEAKER_00: And I think that's the thing we want to make sure that people understand is that you can work within the financial planning profession.
• 51:02
  SPEAKER_00: You can become a financial planner, even if you are not a naturally confident person in the beginning, even if you're not a naturally extroverted individual, with the right firm and the right training and the right development at the right pace, you can do anything.
• 51:17
  SPEAKER_00: But one thing I have learned from you is that when you are like that, you do need to step outside of your comfort zone a little bit from time to time.
• 51:24
  SPEAKER_00: So lean into things like next gen planners, where they might give you some training and development skills around presenting.
• 51:29
  SPEAKER_00: Why not look at education to schools and children, etc., around the simplicities of financial um planning, getting them to think about their own uh mindset around money.
• 51:41
  SPEAKER_00: I thought that was a really good, great thing that you did with those girls there, because that scarcity mindset, because if they're developing it at that age and that's what they're being told, and if they're not getting any financial education, that's going to massively affect their well-being moving forward, and it might make them miss out on opportunities that others that have perhaps been educated differently around it might well take advantage of.
• 52:01
  SPEAKER_00: And I think that happens a lot, doesn't it?
• 52:03
  SPEAKER_00: Um, what I also love about that is that you're taking the time out to teach children or young adults also about the role of a financial planner, what the job is, what the actual career path is.
• 52:16
  SPEAKER_00: And there's not enough of that going on.
• 52:17
  SPEAKER_00: It's happening more and more these days, but I admire people like you that are doing that because you're showcasing what the career looks like.
• 52:23
  SPEAKER_00: And we need more people like you doing that to attract um younger individuals into the profession.
• 52:28
  SPEAKER_00: And when there's a clear-cut career path that you've been on that's evidently worked, then why can't more younger people join the profession?
• 52:37
  SPEAKER_00: You know, it's a it's uh it's a great route.
• 52:41
  SPEAKER_00: And listen, Helen, thank you so much for joining me today on the Financial Planet Life Podcast and sharing your career journey.
• 52:46
  SPEAKER_00: I really, really appreciate it.
• 52:49
  SPEAKER_02: Yeah, thank you so much for having me.