Latest / Financial Planner Life Podcast / Being a young Financial Planner in an ageing profession - Tom Hopson

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Being a young Financial Planner in an ageing profession - Tom Hopson · Financial Planner Life Podcast

• 0:04
  SPEAKER_00: Hi, and welcome to the Financial Planner Life Podcast, where we talk to professionals at varying stages in their career about what it's like working in the wonderful world of financial planning and financial advice.
• 0:17
  SPEAKER_00: This podcast is proudly sponsored by Recruit UK, a recruitment consultancy specifically focused on the financial services.
• 0:25
  SPEAKER_00: They have a niche specialism, recruiting, within the financial planning industry.
• 0:29
  SPEAKER_00: So check out their website for the latest job opportunities, hints and tips, and blog articles.
• 0:38
  SPEAKER_02: Hello everyone, it's Elena back for this week's episode of the Financial Planner Live Podcast.
• 0:42
  SPEAKER_02: And this week I am joined by Tom Hobson, Chartered Financial Planner at HFMC Wealth Management.
• 0:48
  SPEAKER_02: In this week's episode, we talk what it's like to be a younger age-profile financial planner, how to tackle any barriers and imposter syndrome, and what to do if you are currently in a back office role but looking to step into an advice position.
• 1:00
  SPEAKER_02: We also discuss the importance of financial education and having conversations about money.
• 1:05
  SPEAKER_02: Good morning, Tom.
• 1:06
  SPEAKER_02: How are you today?
• 1:08
  SPEAKER_01: Hi, thanks for having me.
• 1:09
  SPEAKER_01: Um yeah, no, I'm doing good at the moment.
• 1:11
  SPEAKER_01: It's busy week, but can't complain.
• 1:13
  SPEAKER_02: Oh, busy week.
• 1:13
  SPEAKER_02: It's nice to see, I think, after the past year we've had the word busy.
• 1:17
  SPEAKER_02: I don't think you can complain about that term or phrase anymore.
• 1:20
  SPEAKER_01: Well, I don't think it's not been busy since uh the pandemic.
• 1:23
  SPEAKER_01: It's been kind of flat out ever since.
• 1:25
  SPEAKER_01: So can't complain.
• 1:27
  SPEAKER_02: That's exactly what we like to hear.
• 1:28
  SPEAKER_02: So thought it's always a good place to start off, um, Tom, if you don't mind telling us a little bit about yourself and what you do.
• 1:35
  SPEAKER_01: Yeah, sure.
• 1:36
  SPEAKER_01: So I'm a chartered financial planner um here at Page FMC Wealth.
• 1:41
  SPEAKER_01: Um so ultimately I'm responsible for a client bank around about 60 clients, um, and we focus on kind of core holistic financial planning with them.
• 1:49
  SPEAKER_01: Um, so utilizing the wealth they've built up or are still accumulating to do everything they want to in life.
• 1:55
  SPEAKER_02: We have had a lot of discussions about the fact that you definitely fall into the category of what we call sort of a young financial advisor or a younger age profile financial advisor.
• 2:06
  SPEAKER_02: So I did a little bit of research um before we came on the call today.
• 2:10
  SPEAKER_02: And I think it's like 16, 8% of financial planning firms and say that they don't have an advisor within their firm that is under the age of 35.
• 2:19
  SPEAKER_02: So when you look at that statistic, that is quite staggering.
• 2:23
  SPEAKER_02: So do you mind telling us a little bit about your journey and how you've got to the point that you are today as a young financial planner?
• 2:30
  SPEAKER_01: Yeah, sure.
• 2:31
  SPEAKER_01: So um I had a slightly unorthodox entry to the industry because I didn't know it actually existed when I first came into the job that I do now.
• 2:39
  SPEAKER_01: Um so I'd left college, um, wanted to get work experience to become an accountant and got offered uh a work experience as an administrator at a financial planning firm.
• 2:49
  SPEAKER_01: Um and ultimately it spiraled from there.
• 2:52
  SPEAKER_01: So what started as two weeks work experience, turned into seven months part-time, then a full-time job.
• 2:59
  SPEAKER_01: And uh yeah, it's a decade later, and I'm now a chartered financial planner and uh got my own client bank.
• 3:05
  SPEAKER_02: So what was your journey then to get to that point?
• 3:09
  SPEAKER_02: So you started off doing the administration.
• 3:11
  SPEAKER_02: Did you stay, how long did you stay in back office roles before you before you came a financial advisor?
• 3:16
  SPEAKER_01: Yeah, so I started off uh part-time um for seven months, I think it was, and then came on board as a full-time um administrator.
• 3:25
  SPEAKER_01: At that point, I was dealing with private client work as well as the group business that we had.
• 3:30
  SPEAKER_01: Um, so I did that for a few years and then got diploma qualified in 2014, um, became a power planner at that point, um, worked my way through on that for a few years.
• 3:42
  SPEAKER_01: And then I think in 2017, I got the opportunity to join a partner in the current firm as a uh trainee advisor.
• 3:50
  SPEAKER_01: So I did a few years with him and then yeah, 2019 took over my own client bank and uh we are where we are now.
• 3:58
  SPEAKER_02: Blossoming since then.
• 4:00
  SPEAKER_02: So I guess it's a nice point that you mentioned to begin with there, that when you sort of think lots of people fall into the industry as such, or you didn't necessarily know about the industry before um a certain date.
• 4:11
  SPEAKER_02: So, at what point during your career journey within wealth management did you realize that you wanted to be a financial advisor and advice was what you wanted to step into?
• 4:20
  SPEAKER_01: Um, I'd actually say probably within the first couple of weeks of my work experience at that point.
• 4:26
  SPEAKER_01: Um so we I was talking with the advisors about the products and what they did and all that sort of stuff.
• 4:32
  SPEAKER_01: And I'd known from an early age the two things I wanted is my job.
• 4:35
  SPEAKER_01: I wanted to work in finance and I wanted to work with people.
• 4:38
  SPEAKER_01: So once they explained what a financial advisor did, um, that to me kind of ticked all the boxes, and that was ultimately where I wanted to get to.
• 4:47
  SPEAKER_01: Um, I think the definition of the job that I wanted to do has changed over time.
• 4:51
  SPEAKER_01: Um, once financial planning was introduced and I got kind of into that world a lot more, that is definitely where I want to focus on now.
• 4:57
  SPEAKER_01: But yeah, I think it was with before the end of my two-week work experience I was sold on becoming an advisor at some point.
• 5:04
  SPEAKER_02: Wow, that is very quick.
• 5:06
  SPEAKER_02: So, what was it the people element, the fact that you'd be interacting with lots of different individuals?
• 5:11
  SPEAKER_02: What was it, the fact, because obviously we talk about this a lot within wealth management, there is so many different avenues, there's so many different things, may that be power planning, compliance, or being a financial advisor.
• 5:22
  SPEAKER_02: So, what was it about that job role that really attracted you?
• 5:25
  SPEAKER_02: What made you think from your skill set that that's where you'd be a good fit?
• 5:28
  SPEAKER_01: Oh, it was the people side of it.
• 5:30
  SPEAKER_01: It was the fact that you actually got to work with people to help them understand the wealth that they'd kind of built up.
• 5:37
  SPEAKER_01: Um, and yeah, I'd been a social character pretty much my whole life.
• 5:41
  SPEAKER_01: So I always knew that kind of having a client-facing job was where I wanted to end up.
• 5:46
  SPEAKER_01: Um, and then yeah, it just kind of everything just seemed to tickle the boxes when you looked at that career path.
• 5:52
  SPEAKER_01: So um, yeah, I went fully committed and uh luckily it's paid off.
• 5:57
  SPEAKER_02: Yeah.
• 5:57
  SPEAKER_02: So do you so this is another thing.
• 6:00
  SPEAKER_02: Lots of different people, obviously like yourself, come within the industry and they want to be a financial advisor.
• 6:06
  SPEAKER_02: And um, as you've just touched on then, you know, it really ties into their skill set and what they're looking for and to feel fulfilled out of a career.
• 6:13
  SPEAKER_02: So, how did you hone in then on that?
• 6:16
  SPEAKER_02: So, how did you then sort of track your progression to make sure you become a financial advisor or sort of guide your career as such to get to that point?
• 6:25
  SPEAKER_01: Yeah, so I've been really lucky in both um so Christchurch benefits where I first started off and uh now here at HFMC Wealth.
• 6:34
  SPEAKER_01: Um, I've always had mentors.
• 6:36
  SPEAKER_01: Um, so from day one, uh one of the advisors or one of the directors at my first company um was very clear when I said I wanted to be an advisor.
• 6:45
  SPEAKER_01: He said, Great, well, you've got to get your diploma and we want you to do it in two years, um, which at that point was an absolute unfathomable task.
• 6:54
  SPEAKER_01: Um and he just really kept on on me at doing that.
• 6:57
  SPEAKER_01: And I think it took a little bit longer than two years, but we got there.
• 7:00
  SPEAKER_01: Um and then he was saying, right, next up is you need to get chartered and fellow and kind of make sure you've got the exam knowledge there.
• 7:07
  SPEAKER_01: Then we came came over to HFMC Wealth in 2015 and the same thing.
• 7:11
  SPEAKER_01: I've I've worked with a handful of the advisors here that have all kind of helped steer me in the right directions and help bring you up in in certain markets and those sort of things.
• 7:20
  SPEAKER_01: So yeah, I've had been lucky to have people that have done it to then point you in the right direction and say, look, you need to be aiming for here to get to where you want to be.
• 7:29
  SPEAKER_02: So I work with lots of different individuals, especially people that are younger age profile, that face lots of barriers um to become a financial advisor due to their age.
• 7:40
  SPEAKER_02: May that be that they get backlash of, oh, you're not experienced enough.
• 7:45
  SPEAKER_02: Um, may that be that we don't want to put you in front of our clients because we feel like they're not gonna want to deal with someone as young as yourself.
• 7:52
  SPEAKER_02: Did you face any barriers like that?
• 7:54
  SPEAKER_02: Does any of that resonate with you?
• 7:56
  SPEAKER_01: Um, I face those barriers with myself, not with anyone that I've worked with or any of the clients I've ever dealt with.
• 8:02
  SPEAKER_01: Um so I definitely, I think we we spoke about it last time.
• 8:04
  SPEAKER_01: I've definitely had a lot of imposter syndrome throughout the years.
• 8:07
  SPEAKER_01: Um, particularly when I first started advising, um, and you sat there, and I think it was around about 24, 25, you're advising people in their 60s, 70s, 80s that have amassed lots of wealth, run their own businesses, all these sort of things.
• 8:21
  SPEAKER_01: And you almost sit there and go, why are they going to listen to me about what to do with their life?
• 8:27
  SPEAKER_01: Um but dealing with a lot of the advisors within HFMC, they kind of gave me the points of actually, do you know what?
• 8:34
  SPEAKER_01: You can offer longevity within those sort of things when you're dealing with next generations, all of that.
• 8:39
  SPEAKER_01: And I had the skill set, so the exams definitely helped reinforce for both myself and prospect clients because there have been a few people that have tried to test me because of my age, but having that kind of background knowledge to be able to answer things in a confident manner just helped bat away a lot of those kind of age kind of questions, if they are there.
• 9:00
  SPEAKER_01: Um, but more often than not, they're not there.
• 9:02
  SPEAKER_01: Um so yeah, it's not been too much of a barrier once I got past it myself.
• 9:07
  SPEAKER_02: Yeah.
• 9:07
  SPEAKER_02: So as you just touched on, we talked about imposter syndrome previously.
• 9:11
  SPEAKER_02: So people, I did like Google the definition.
• 9:13
  SPEAKER_02: So people who may not not be in the audience who may not be aware what imposter syndrome is, it's like the internal experience of believing that you are not as competent as others perceive you to be.
• 9:23
  SPEAKER_02: So I think we all, especially in a in a in an industry that is very sort of overpopulated by older age profiles, I think, and I I don't know the statistic off my top of my head, but the the quantity of advisors that are over the age of 50 proportionally, if you compare it to the demographic of the UK, is absolutely ridiculous.
• 9:44
  SPEAKER_02: And I appreciate um imposter, and even I get it in whether it be from Recruit UK or the Financial Planner Live podcast, and it is quite a massive hurdle to overcome because it's it's yourself mentally.
• 9:57
  SPEAKER_02: So was it a lot of mental preparation?
• 9:59
  SPEAKER_02: Was it time?
• 10:00
  SPEAKER_02: You know, what helps you when you're in that boardroom with all those individuals, you know, that are have amassed wealth, they're older than you, what helps you battle that belief that you potentially should not be there?
• 10:12
  SPEAKER_01: Um, I think for me it was experience.
• 10:15
  SPEAKER_01: Once I'd got past the first couple, um, so when I first started advising, um, I got sent to a couple of our more professional clients that worked in the investment banking world and and kind of that was their background, their bread and butter was the market.
• 10:29
  SPEAKER_01: And obviously sitting there talking to them about what's happening in the economy, what the portfolios are doing, how we're positioning things.
• 10:36
  SPEAKER_01: That for me, when I first started, was a big like, oh my God, what what happens if?
• 10:42
  SPEAKER_01: Um, and once you get past a few of those, you realize that actually they are just humans.
• 10:48
  SPEAKER_01: Um, if you don't know something, be confident enough to say, look, I'll look it up and come back to you afterwards.
• 10:52
  SPEAKER_01: They don't expect you to know everything on the spot all the time.
• 10:56
  SPEAKER_01: And once I've got that into my head, um, it just built my own self-confidence that do you know what?
• 11:01
  SPEAKER_01: I'm good at what I do.
• 11:02
  SPEAKER_01: So therefore I can have conversations with anybody.
• 11:06
  SPEAKER_01: Um and then you just you build it from there.
• 11:08
  SPEAKER_02: Yeah, I think it is such an important that self-confidence and that belief that you can do it is so important.
• 11:13
  SPEAKER_02: And you touched on something there, um, that it is obviously the knowledge, but also you put up sort of authenticity and sort of having that skill set.
• 11:22
  SPEAKER_02: Do you think that battling that imposter syndrome is based on just not only your experience today, and obviously you're qualified, you're chartered.
• 11:30
  SPEAKER_02: So you've amassed a wealth of knowledge, but also just that general skill set that advisors have in terms of being able to build relationships helps get over that imposter syndrome.
• 11:40
  SPEAKER_01: Yeah, if you can actually be human with your clients, which ultimately in the financial planning world, you have to be, you have to understand what it is they actually want to do in their lives.
• 11:49
  SPEAKER_01: Um, if you can build that rapport with them, then actually not knowing something isn't an issue.
• 11:56
  SPEAKER_01: Um, obviously, if you don't know simple things, then it becomes more of an issue.
• 12:00
  SPEAKER_01: But typically when they're really complex areas or something like that, saying, look, I want to get it right and I'll come back to you, improves your credit worthiness more than trying to guess on the spot and getting it wrong.
• 12:11
  SPEAKER_01: Um and I got taught that by one of my mentors as we were going through.
• 12:15
  SPEAKER_01: He was um he was very like hitting home on that.
• 12:17
  SPEAKER_01: It's like if you don't know it, just say, look, I'll look it up and come back to you.
• 12:20
  SPEAKER_01: Um and once I saw him do that in a few meetings and the reaction he got from it, it then cemented it in my head that actually, yeah, that's fine.
• 12:27
  SPEAKER_01: Like we are meant to know a lot of things.
• 12:31
  SPEAKER_01: And you can't know everything all the time.
• 12:33
  SPEAKER_01: Some little details will just slip your head, but it's it's having the confidence to say that.
• 12:38
  SPEAKER_02: Yeah, and it's being real, isn't it?
• 12:40
  SPEAKER_02: And I think as you just touched on, even when you're placed in front of the biggest CEO that's got the most money and runs the best, biggest company in the world, it's all about they're still a real human being with dreams, aspirations, and ambitions.
• 12:54
  SPEAKER_02: And I think a lot of the disconnection, especially um previously in the industry and pre-RDR and stuff like that.
• 12:59
  SPEAKER_02: And when I speak to my dad, who's um an independent financial advisor about his career journey, it was all sales to begin with.
• 13:07
  SPEAKER_02: Um, it was it was a sales job.
• 13:09
  SPEAKER_02: That that human element was not really as important, I don't think, from what I grasp.
• 13:15
  SPEAKER_02: So, how do you bring that human element um into financial planning and into making sure you're building those long-lasted, long-lasting relationships?
• 13:25
  SPEAKER_01: Yeah, so I think for for me, I find it quite natural.
• 13:28
  SPEAKER_01: Um, I love to just chat to my clients.
• 13:30
  SPEAKER_01: And I mean, if you look at you probably did a review of all my meetings and you look at how much of it is general chit-chat versus kind of what would be classed as the more technical work.
• 13:40
  SPEAKER_01: Um, we definitely lean more towards the social interaction side of it.
• 13:44
  SPEAKER_01: Um, but we've further developed that we um so as a business, we get lots of speakers come in and talk to us about different um questioning techniques and how to hold conversations in certain ways.
• 13:55
  SPEAKER_01: And little bits like that do help, um, particularly if there's kind of a tough conversation that needs to be had.
• 14:03
  SPEAKER_01: Um, it's having those uh kind of tools and the toolkit to be able to then say, look, we need to have a chat about this, but doing it in a non-confrontational way so that people can actually receive it in a good manner.
• 14:14
  SPEAKER_01: Um, so I mean we've had chats from hostage negotiators um like how to how to deal with people in stressful situations and stuff like that, which on the face of it doesn't link up with the job that we do, but it's all dealing with people and and those sort of conversations and and those sort of times.
• 14:31
  SPEAKER_02: Yeah.
• 14:31
  SPEAKER_02: So do you think all the soft skill training adds adds real value as well?
• 14:36
  SPEAKER_01: Oh, massively.
• 14:37
  SPEAKER_01: I think my job is far more soft skill based.
• 14:40
  SPEAKER_01: Um, like I spent so much of the early part of my career doing the exams and getting to the point where I had that base knowledge.
• 14:47
  SPEAKER_01: Whereas now in practice, the base knowledge I needed to be able to do the advice and answer, kind of create the strategies for the clients.
• 14:55
  SPEAKER_01: But ultimately, the bigger part of my job is getting to understand them and their lives, which is all soft skill based.
• 15:01
  SPEAKER_01: Um, so if you don't really have those, proper planning is so much harder.
• 15:06
  SPEAKER_02: So, do you find then, you know, and it it might be maybe different in your firm, especially, you're having hostage negotiators come in and speak to yourselves and the financial advisors.
• 15:15
  SPEAKER_02: So it sounds like in terms of soft skills training, um where you are, you know, they're really up to speed.
• 15:21
  SPEAKER_02: But do you find maybe like um, and it might not necessarily be within your firm or maybe what you found in general, but like a disjointedness between that value that adds the soft skills is added potentially in young financial advisors than older financial advisors, because obviously, as we've spoken about pre-RDR, it was so sales sort of focused.
• 15:41
  SPEAKER_02: That do you see that disjointedness about how you might approach things compared to maybe someone that's slightly older, an older age profile financial advisor might sort of approach things?
• 15:49
  SPEAKER_01: Um, yes and no.
• 15:51
  SPEAKER_01: It's not quite as black and white as that.
• 15:53
  SPEAKER_01: I think so.
• 15:54
  SPEAKER_01: There's um there's definitely a segment of that pre-RDR kind of older advisor group that their bread and butter was sales, and that is kind of that is their career was sales.
• 16:05
  SPEAKER_01: Um, but we've got advisors in our business that are well into their 60s and 70s that are doing financial planning and they have been for years.
• 16:14
  SPEAKER_01: Um, so I think it it depends on what segment of the market you are in and just the mindset as an individual that you've got.
• 16:21
  SPEAKER_01: Um, but yeah, I'm lucky at HFMC Wealth, we have just got a group of people that are all sociable, all kind of human people.
• 16:28
  SPEAKER_01: Um, so we all focus on that planning side of things more often than not.
• 16:32
  SPEAKER_02: Yeah, fab.
• 16:33
  SPEAKER_02: So in regards to your current firm, um, are you well, are you sort of um stretched out in different age profiles?
• 16:41
  SPEAKER_02: You said if you've got financial advisors then within your firm sort of into their 70s as such, or yeah, so we've got um quite a broad mix.
• 16:49
  SPEAKER_01: Uh so we've got um myself and another advisor are kind of sub-30.
• 16:54
  SPEAKER_01: Um, we've then got quite a big mix in the kind of the 40s um and breaching into your 50s, and then yeah, we've still got some in their 60s and 70s.
• 17:02
  SPEAKER_01: So um we've I've been lucky that I've been able to learn from all of them um along the way.
• 17:07
  SPEAKER_01: So you've got people that have been doing it for 30, 40 years um that have picked up so many people skills along the way.
• 17:14
  SPEAKER_01: Um, I think the biggest thing I've learned is just talk to everybody.
• 17:18
  SPEAKER_01: Um, everyone's model will not fit with what you're doing, but there'll be snippets that you take away from it and think, do you know what?
• 17:26
  SPEAKER_01: I can definitely use that or it will definitely improve what I'm doing.
• 17:29
  SPEAKER_02: Yeah.
• 17:30
  SPEAKER_02: That's very refreshing.
• 17:32
  SPEAKER_02: Very refreshing to work in an environment where you've got lots of different advisors from lots of different age profiles.
• 17:38
  SPEAKER_02: What value do you think that this adds to your business?
• 17:42
  SPEAKER_01: Um, I think it's great because no matter who they speak to in our company, they are getting someone that has their personal interests at heart.
• 17:52
  SPEAKER_01: Um, and then as a business, we've got a really strong technical backup side as well.
• 17:56
  SPEAKER_01: So you've got some advisors that their whole bit is almost relationship management.
• 18:01
  SPEAKER_01: Um, but they're backed up by some really top-level financial kind of power planners that can then still do that strategy building.
• 18:09
  SPEAKER_01: Um, but we've we've got a breadth of people that follow so many different niches.
• 18:13
  SPEAKER_01: So if someone comes to us from pretty much any background, there'll be someone in the firm that can deal with them and they will get a consistent approach across all of us.
• 18:22
  SPEAKER_02: Do you think certain different people, um, audience-wise, are more attracted to having a younger financial planner than others?
• 18:31
  SPEAKER_01: Um, no, not really.
• 18:32
  SPEAKER_01: So uh we were talking about the marketing event we did at the weekend.
• 18:36
  SPEAKER_01: Yes.
• 18:36
  SPEAKER_01: Um, and I was approached by a guy there that was probably mid-60s, um, come into retirement.
• 18:43
  SPEAKER_01: His advisor was actually just coming up to the point where he was going to retire.
• 18:47
  SPEAKER_01: Um, and his mindset was that he wanted to work with me because I'd be younger.
• 18:51
  SPEAKER_01: So I would A outlast hopefully his retirement, but at the same point, I can then work with his children and kind of the next generation of family as well.
• 18:59
  SPEAKER_01: So I think the we're seeing more and more clients seeing the benefit of the younger generation when you're talking about intergenerational wealth and kind of that bringing the family into the picture.
• 19:13
  SPEAKER_02: Definitely in regards to intergenerational wealth and longevity, I completely agree.
• 19:17
  SPEAKER_02: I think looking for a financial advisor, um, the someone that is going to be able to see you through through your financial journey and then be able to work, and obviously you build such a trusted relationship with this individual.
• 19:29
  SPEAKER_02: You know, you're talking about finances, and then to be able to introduce them to your children and get them in a position when they start thinking about their finances that you've already introduced them to someone that you trust and you know they're aware of certain situations or potential complexities, you know.
• 19:44
  SPEAKER_02: I think that must be a very appealing reason to sort of have young financial advisor to have a young financial advisor within your business.
• 19:52
  SPEAKER_02: Are there any other reasons that you can think of why sort of young financial advisors are beneficial to have within the industry or within your firm?
• 19:59
  SPEAKER_01: Um, I think one of the big value ads I think I I found with my clients is that actually getting their children involved in the conversation.
• 20:06
  SPEAKER_01: Um, so we do a little bit of kind of financial education workshops as well, um, both through the CII's program, but we do it with our clients individually.
• 20:15
  SPEAKER_01: So um it's a great value add when they've got children that are going through university and potentially you've had trusts set up that they're going to get access to when they turn 18 or something like that.
• 20:25
  SPEAKER_01: And they're just worried about their own financial position.
• 20:29
  SPEAKER_01: Um, it's much it's much easier for those children to relate to someone, say my age, than it is a 60-year-old in a suit.
• 20:36
  SPEAKER_01: Um kind of it's just that mentality breakdown.
• 20:38
  SPEAKER_01: So I think we offer younger advisors offer potentially a broader breadth of what they can can do for the clients.
• 20:46
  SPEAKER_01: Um, however, I'm a firm believer that age doesn't really matter too much.
• 20:50
  SPEAKER_01: It's the personality.
• 20:51
  SPEAKER_01: If you're a nice person, it doesn't matter how much you you how old you are.
• 20:55
  SPEAKER_02: Yeah.
• 20:55
  SPEAKER_01: Someone will warm to you and you can have that conversation.
• 20:58
  SPEAKER_02: From my opinion, because I'm young, so I'm I'm 22.
• 21:02
  SPEAKER_02: Well, I turn I'm 23, I turn 23 on the weekend.
• 21:05
  SPEAKER_01: Congratulations.
• 21:06
  SPEAKER_02: Thank you.
• 21:07
  SPEAKER_02: But um, for me, and especially when I speak to a lot of friends about what I do, because no one knows what financial planning is uh a lot of the time.
• 21:16
  SPEAKER_02: But when they Google it and they find out it's what my dad does, and they find out um you you put it online and you do see lots of middle-aged men in pinstripe suits, they think that, well, it's only older people that work within this industry, therefore, it's only older people that need financial advice.
• 21:33
  SPEAKER_02: It's almost like a disjointedness of like my friends are always there, like, well, when I'm 50 and I'm that age, I'll seek it.
• 21:41
  SPEAKER_02: And I think from my experience, seeing younger um age profile financial planners then opens up financial planning to a younger sort of age profiles target audience because you think, well, these positions are in these, uh these people are in these positions because they're obviously knowledgeable and they're there to help.
• 22:00
  SPEAKER_02: People.
• 22:00
  SPEAKER_02: And I think it breaks down that barrier a little bit that if you're looking to approach someone and maybe you're not too sure what a mortgage is, or you're not too sure even what an ICER is, I feel like you feel easier to approach someone that is of a similar age than you rather than someone that looks like your grandparents or your parents.
• 22:19
  SPEAKER_01: And I must admit that there's certain um traits that I say stereotypically are better with younger advice as well, is the better use of tech in meetings and those sort of things.
• 22:31
  SPEAKER_01: So we I think we're as a company are trying to focus on that education path because I think that's a lot where, especially like our joint generation.
• 22:40
  SPEAKER_01: So my friends don't know a huge amount about kind of finances and things like that.
• 22:45
  SPEAKER_01: Um, but part of that I think is because it's not taught in schools.
• 22:48
  SPEAKER_01: So if we can start to have that conversation earlier and introduce the that kind of concept of planning for the future, um, a lot of that issue will hopefully kind of start to disappear and people will be more open to it.
• 23:01
  SPEAKER_01: But if you think about it, a lot of kind of our parents' generations, the first time they spoke to a financial advisor would have been through work when it was their group pension scheme and stuff like that.
• 23:11
  SPEAKER_01: So I still think the workplace has got a big part to play as well.
• 23:14
  SPEAKER_02: Yeah.
• 23:14
  SPEAKER_02: So do you think then, because if we touch upon what the education side of things that you do, is it it's through the personal finance society, am I right?
• 23:23
  SPEAKER_02: Um, correct.
• 23:24
  SPEAKER_02: Yeah.
• 23:24
  SPEAKER_02: So how does that work?
• 23:25
  SPEAKER_02: Do you go out to schools then and teach sort of set lessons or yeah?
• 23:30
  SPEAKER_01: So the the PFS, um, they have kind of a range of programs that you do.
• 23:35
  SPEAKER_01: Um, so they're they're aimed um towards kind of latter stage school, so year 10, year 11, and kind of onwards.
• 23:42
  SPEAKER_01: Um, but so the schools will pick a particular session that they want to do with their the class, um, and you'll go in and present that situation and kind of impart some of the skills that you've got from working with clients and dealing with people over the years to these children to get them to start realizing that actually there are things to start thinking about.
• 24:00
  SPEAKER_01: Um, I mean we did one at a school in um in Mayfair, and um one of the girls in the class was thinking she wanted to live in Chelsea, she wanted all these sort of things and was going to get a job that was gonna pay her 40,000 a year.
• 24:13
  SPEAKER_01: And it was kind of having that conversation and just making things a little bit more realistic that actually with that sort of money, it's gonna get you to here.
• 24:22
  SPEAKER_01: So if you want that lifestyle, you need to be looking at something that's gonna probably be bringing you X per annum.
• 24:27
  SPEAKER_01: Um, and it's just starting those conversations that a lot of children just don't have with their parents because the parents never probably had that conversation with their parents.
• 24:35
  SPEAKER_01: It's so starting those little conversations and getting those little micro interactions to build on something in the future.
• 24:43
  SPEAKER_02: It's so funny because money is everything, isn't it?
• 24:47
  SPEAKER_02: You work for money, you spend money constantly nowadays with Apple Pay and all of this.
• 24:54
  SPEAKER_02: You know, you're not even seeing it leave your account.
• 24:57
  SPEAKER_02: Yeah, it's almost such a taboo subject.
• 25:00
  SPEAKER_02: No one speaks about money with their friends, you know.
• 25:04
  SPEAKER_02: Money and money is such a cause of mental mental health issues because no one wants to speak about it, especially when you're in a bad financial position or whether you're in debt.
• 25:13
  SPEAKER_02: So I do think those um conversations with children um open so many avenues.
• 25:18
  SPEAKER_02: For example, it's such a talking point um between like me and friends and stuff like you all learn trigonometry and stuff like that, which I've never once used, but I could probably have benefited from someone telling me what a mortgage is and how I get to that point in time.
• 25:34
  SPEAKER_01: Yeah, or how to manage your direct debits and those sort of things, yeah.
• 25:37
  SPEAKER_02: Or what a direct debit even is, or yeah, yeah, exactly.
• 25:41
  SPEAKER_02: What a credit score is and how you can increase your credit score or what can damage it.
• 25:46
  SPEAKER_02: And I remember not that long ago, I was having a conversation with a friend that was using those sort of like buy now, pay later things on shopping, and she didn't realise that by paying them four weeks late, she was actually damaging her credit score, and this could imp in like impeder in future.
• 26:03
  SPEAKER_02: So I think it's really important having those conversations um with young children.
• 26:07
  SPEAKER_02: Thinking increase of doing these classes and having these conversations will then in the long run um attract people to financial planning earlier or will um allow them to get involved with financial planning from a younger age.
• 26:20
  SPEAKER_01: Yeah, and I also think it's it's introducing the industry as well as a career path as well, because I definitely didn't know it existed.
• 26:27
  SPEAKER_01: So I knew that I wanted to work in finance, but my head automatically linked to accounting.
• 26:32
  SPEAKER_01: Um I never knew that financial advisors or financial planning was a career path that you could get into.
• 26:38
  SPEAKER_01: Um, so we've done career days as well for schools and stuff like that to explain what it is we actually do and the benefits of coming to join the industry.
• 26:46
  SPEAKER_01: Um, so the yeah, the education program is quite broad, um, but it's it's ultimately, I think, trying to start those little conversations.
• 26:55
  SPEAKER_01: Um I think they are petitioning to try and get it added to the school curriculum.
• 26:59
  SPEAKER_01: So it is actually then part of a set curriculum that's taught in classes, which I think will be invaluable.
• 27:05
  SPEAKER_01: Um, because I still remember I had a conversation with a kid one day and he didn't realize that they actually deducted tax from your pay.
• 27:12
  SPEAKER_01: Um, he just thought tax was there and it it happened somewhere.
• 27:15
  SPEAKER_01: But he got his first pay slip and he didn't realize that they actually deducted the tax before it came to you.
• 27:20
  SPEAKER_03: Oh no.
• 27:21
  SPEAKER_01: Yeah.
• 27:22
  SPEAKER_01: So understanding payslips and all that sort of stuff is another big life skill that a lot of people would value.
• 27:28
  SPEAKER_02: Yeah.
• 27:28
  SPEAKER_02: And we spoke about this when we had a conversation previously.
• 27:31
  SPEAKER_02: So all of this education is really, really beneficial because it allows people um to start um thinking about their finances from a very young age and educating them.
• 27:41
  SPEAKER_02: And um, as you just touched on, then you know, how much money's gonna stretch you this far and you know, what is a pension and things like that.
• 27:49
  SPEAKER_02: But it can be very difficult for younger age profile people like myself, as such, to access wealth management due to fees, due to not really having a lot of wealth built up.
• 28:00
  SPEAKER_02: So, what do you recommend for people like that that are in a position maybe where they want to start thinking about their finances more strategically, but maybe don't feel like they're in a position financially to actually go approach a wealth management firm?
• 28:13
  SPEAKER_01: I mean, first things is that as I've learned throughout my time in the industry, is that there are advises that specifically will target that kind of wealth level.
• 28:23
  SPEAKER_01: So maybe someone has got 20,000, 30,000 and you just want to start having a conversation on that basis.
• 28:29
  SPEAKER_01: Um, you've got the likes of Robo advice, which is quite a nice way to get things started and just regularly save and things like that.
• 28:37
  SPEAKER_01: Um, I mean, from our perspective, we we try and help that next generation through their parents because taking them on as individual clients is actually really hard and isn't cost effective at this point.
• 28:52
  SPEAKER_01: Um, so having a chat with your parents and seeing if they deal with someone that might be able to have a conversation with you.
• 28:58
  SPEAKER_01: Um ultimately that there's loads of ways that you can have a chat with someone about how to save into an ISA, or you can go into your uh, I don't know if you can still anymore, but you could go into your bank and chat to your bank about what mortgages are and where you need to get to and those sort of things.
• 29:12
  SPEAKER_01: Um I think what the industry needs to do better of is signposting people to those places.
• 29:18
  SPEAKER_01: Um, because I know definitely when I first started, um, you start thinking, like, right, well, I need to buy a property, but I'm not going to talk to someone until I've got a deposit together or until I've hit this or until I've done that.
• 29:29
  SPEAKER_01: Um, trying to encourage people to have those conversations before they start, because I think as an industry, we are generally happy to have a conversation with someone.
• 29:37
  SPEAKER_01: Um, you can get so much free knowledge out there.
• 29:40
  SPEAKER_01: Um, but yeah, robo advice is probably a big one for for very early stage people.
• 29:46
  SPEAKER_01: Um, just for it, it's a cost-effective thing more than anything else.
• 29:50
  SPEAKER_02: But in terms of people in our audience that are potentially listening that might be such a slightly younger age profile, think that they're not in a position to access financial advice, the financial advice is out there.
• 30:00
  SPEAKER_02: And it's I would say it's never too early to start really thinking about your pensions, um, to start thinking about long-term savings and those dreams, you know, that is the information out there.
• 30:11
  SPEAKER_02: Um, and you know, it's never too early to start if you're listening to this and thinking, I want to start thinking about things a bit more in-depth.
• 30:18
  SPEAKER_01: Yeah.
• 30:19
  SPEAKER_01: And I mean, we I've had conversations over the years with with plenty of people in their 20s that have they're maybe getting themselves into the start of their career and they were looking at doing X, Y, and Z.
• 30:29
  SPEAKER_01: And we've kind of they just spitballed a few ideas off of me.
• 30:32
  SPEAKER_01: And you said, look, I can't actually offer you advice, um, but you can probably go and have a chat to this place, or is worth having a chat to a mortgage broker, or um, you got all your free guidance services that the government provide.
• 30:44
  SPEAKER_01: Um, there's lots of things out there that are worth having it to have a chat about.
• 30:47
  SPEAKER_01: Um, particularly if you're young and you get yourself into debt, there's plenty of places that can help consolidate debt and get a plan in place to help kind of repay that and then start to get yourself back on the right track.
• 30:57
  SPEAKER_01: Um, you just got to do a quick Google and you'll find a lot of stuff there that will help point you in the right direction.
• 31:04
  SPEAKER_02: Great.
• 31:04
  SPEAKER_02: And essentially, yeah, so there's so many resources out there.
• 31:07
  SPEAKER_02: I think because we just talk about money being so all over the place, but yet so taboo.
• 31:13
  SPEAKER_02: Um, and it is a cause of lots of stress and mental health for some lots of people, you know, whether if you are sort of the the any spoke of the spectrum, but potentially the younger age profile, and you know, you're nervous about taking that leap, but there's plenty of resources out there and plenty of people that are going to be able to help you.
• 31:29
  SPEAKER_02: Um, and we discussed this just before we sort of went on to this about how uh linked in with the personal finance society stuff that you were doing, you also were doing sort of like careers fairs and things like that.
• 31:40
  SPEAKER_02: Because as you just touched on, you know, you weren't aware of the industry before you moved into it.
• 31:46
  SPEAKER_02: And I looked this up, and I think 58% of UK financial advisors are due to retire within the next 10 years.
• 31:53
  SPEAKER_02: So that leaves a massive shortage of financial advisors.
• 31:58
  SPEAKER_02: So, how do we encourage more people into the industry?
• 32:01
  SPEAKER_02: How do we get more people like yourself to step into wealth management?
• 32:06
  SPEAKER_01: Um, I think the biggest part of it is actually signposting it as an option.
• 32:10
  SPEAKER_01: Um, because I think that there's plenty of avenues to get into the industry.
• 32:15
  SPEAKER_01: Um, I mean, I'm a massive advocate of training on the job.
• 32:18
  SPEAKER_01: So get yourself an administrative role somewhere and start to learn the industry and the products and all that sort of stuff while you're training.
• 32:25
  SPEAKER_01: And then ultimately by the time you finished your exams, you should be able to become a power planner and then naturally progress that way.
• 32:32
  SPEAKER_01: Um, but there's plenty of graduation programs out there at some of the bigger firms that will happily bring you in and train you up.
• 32:39
  SPEAKER_01: Um, I mean, as a firm, we are definitely looking at the younger generation and starting to bring people in and having that career path so that you've got the ability to progress and learn as you go, because ultimately it's going to be nine impossible to come into the industry and know everything about pensions or know all your tax savings allowances and how investments work and all that sort of stuff.
• 33:03
  SPEAKER_01: Um, so I think, yeah, getting an early entry position and training up on the job is probably the most effective.
• 33:09
  SPEAKER_01: Um, I think that they are bringing more and more qualifications that you can study at university and things like that that start to tie in with the industry more and more.
• 33:19
  SPEAKER_02: I definitely feel like the industry as a whole needs more exposure.
• 33:22
  SPEAKER_02: And you touched on it in the fact that like um you fell into it as such.
• 33:28
  SPEAKER_02: You know, before I started working with Recruit UK, I didn't even know what a financial advisor does, and my dad is a financial advisor.
• 33:35
  SPEAKER_02: And I have so many friends that do did economics or business at university, and they still don't know.
• 33:41
  SPEAKER_02: And it literally like blows my mind um how they don't even know what wealth management or financial planning is.
• 33:47
  SPEAKER_02: So I guess it's a very broad question, but how do we bring more exposure to the industry as a whole across the board, really?
• 33:56
  SPEAKER_01: Yeah, so I think the the PFS has definitely got the right idea, which is through this education side of things.
• 34:01
  SPEAKER_01: So you're you're exposing the younger generation to it whilst they're still kind of going through education.
• 34:07
  SPEAKER_01: Um, I think more generally attacking social media, that's the point where people are, especially our generation and kind of uh the generation above, they're so hot on social media, that's the point to start putting adverts out.
• 34:20
  SPEAKER_01: Not necessarily pitching like a hard sale or anything like that, but starting to pose those questions as to um, have you thought about when you want to retire?
• 34:29
  SPEAKER_01: Have you thought about the lifestyle you want?
• 34:31
  SPEAKER_01: Um, yeah, you've got a mortgage, have you got a plan to pay it off?
• 34:34
  SPEAKER_01: All of these sort of questions that almost just start to ignite those little kind of brain cells to go, oh, do you know what?
• 34:41
  SPEAKER_01: I really need to have a chat with someone about this.
• 34:43
  SPEAKER_01: Where do I go?
• 34:44
  SPEAKER_01: Um, and if the social media where people spend a lot of their time is pointing them in the right direction.
• 34:50
  SPEAKER_01: And hopefully we can start to encourage them to actually come in and have proper chats and get proper strategies in place for them.
• 34:57
  SPEAKER_02: I um I think social media is an incredible tool in the sense um it's obviously got lots of negatives in one side, but um, in regards to the information that you can access, um, the different things that it can allow you to have exposure to, it is pretty incredible.
• 35:13
  SPEAKER_02: So um I'll follow an account similar to the one that you've noted now, and I passed the details along to one of my friends because you know what it's like one's nosying over your phone, like what are you looking at?
• 35:24
  SPEAKER_02: And for her, you know, someone that had not had the exposure to financial planning and wealth management like I have, it blew her mind.
• 35:32
  SPEAKER_02: Like, because I I don't know if you remember a couple of years ago, there was the whole thing about um like help to buy ICES and making sure that you opened a help to buy ICE before it ran out.
• 35:44
  SPEAKER_02: But for her, like knowing that there was all these different kinds of ICEs, lifetime ICES, all these different like options that meant that she didn't have grands being sat in her account was mind-boggling.
• 35:57
  SPEAKER_01: Yeah, I was I was actually having a uh chat with a couple of young guys at the weekend about that.
• 36:02
  SPEAKER_01: They'd uh they'd come to the stand that we were on and we're talking about kind of mortgages and purchasing their first home.
• 36:08
  SPEAKER_01: And we just started talking around like what they were currently doing.
• 36:11
  SPEAKER_01: Um, and yeah, they'd never heard of Lifetime ISIS or the fact that you get a 25% rebate from the government for it and all these sort of things.
• 36:19
  SPEAKER_01: You just like it needs to be so much better marketed to people so that it like the information's easy to access, but people don't know the information is there for them to be able to search for it.
• 36:31
  SPEAKER_01: So I think social media is a great way to just start planting those seeds so that people can start to have those questions themselves and and start to to search for it on the internet or contact a local advisor or something like that.
• 36:44
  SPEAKER_01: I mean, unbiased is great for that sort of stuff because you can just pop pop on that you want to talk to someone about something and it will contact a load of people in your local area, and then that's it.
• 36:54
  SPEAKER_01: You you can get someone to reach out to you, you can have a chat.
• 36:57
  SPEAKER_01: Um, I mean, I had it with my next door neighbor, they were looking to move to Poland and rent out their place next door.
• 37:02
  SPEAKER_01: He just pulled me aside and went, so what is it you actually do?
• 37:05
  SPEAKER_01: And I explained it through with him and um put him in contact with a local advisor that's actually helped him sort it all out.
• 37:12
  SPEAKER_01: So I think it's just knowing the questions to then know that you need to look for something to for the answer to be there.
• 37:20
  SPEAKER_02: And I guess the as we just touched one we spoke about previously about sort of money being so taboo and such a taboo conversation, I guess um, making that whole conversation less taboo will then give more exposure to the industry.
• 37:32
  SPEAKER_02: Because once we start breaking down those barriers and having those particularly maybe a bit more uncomfortable conversations with friends or colleagues or family, it then opens the door to like, oh, well, I am actually in a bit of a situation like this, or I am anxious that I'm not gonna be able to buy a house or get on the property ladder.
• 37:50
  SPEAKER_02: But then that's where the solutions also get unveiled.
• 37:52
  SPEAKER_02: So I do feel like the exposure of the industry and sort of removing this taboo about financial conversations sort of merge nicely together.
• 38:02
  SPEAKER_01: Yeah, I think the taboo one's gonna be the toughest one to break through.
• 38:05
  SPEAKER_01: Um is obviously how do you get those conversations into your social networks, which ultimately, if you think back to it, social media, you as you said there, you you shared it with your friend.
• 38:15
  SPEAKER_01: Um, so that's how it starts the conversation.
• 38:17
  SPEAKER_01: It's a did you see this on Instagram or did you come across this or something like that?
• 38:22
  SPEAKER_01: Um, and that's where the conversations we have with our clients and their children is we typically we never touch on the actual numbers, but you start introducing the concepts and why we're there and what we're doing.
• 38:33
  SPEAKER_01: Um, and it's amazing how some of the like the young teenagers start then asking questions that are are really on point and like really well thought out, um, which ultimately you would never think they'd be be thinking of.
• 38:45
  SPEAKER_01: But because you put that as a conversation in front of them, they can actually be quite engaged with it.
• 38:51
  SPEAKER_02: So evidently, from your experience then, you know, opening up this conversation, open up the door to sort of the the children of your clients has proven them to be more immersed and more interactive with their finances and more conscious of it in general.
• 39:06
  SPEAKER_01: Yeah, definitely.
• 39:07
  SPEAKER_01: And I mean, it's I remember the first time we ever did it, I felt really, really sorry for the kid that we we dragged in.
• 39:13
  SPEAKER_01: He'd um he'd just turned 16, he had his mum and dad either side of him, and there was myself and another advisor that I was working with at the time on the other side of the table.
• 39:22
  SPEAKER_01: We were sat there talking to him about um ISIS and kind of saving for a property when he got the other side of university and all that sort of stuff.
• 39:29
  SPEAKER_01: Um, and yeah, we were both in suits, they were all properly dressed up, and it just felt like he was pinned in the middle.
• 39:34
  SPEAKER_01: Um, so it has evolved over time.
• 39:36
  SPEAKER_01: We typically do it at clients' homes rather than bringing them into the office.
• 39:39
  SPEAKER_01: So it's uh it's a more relaxed environment.
• 39:42
  SPEAKER_01: Um, and yeah, it's you you learn with it, it it you almost let the parents lead the start of the conversation because they know their children the best.
• 39:51
  SPEAKER_02: But it's longevity, isn't it?
• 39:53
  SPEAKER_02: And as you just as we've just touched on, you know, it's it's having those conversations from such a young age, he will move with that in mind.
• 40:00
  SPEAKER_02: And within future, obviously, don't know statistics on this, but I I would presume that he will be much more likely to get financial advice maybe generally, or to get financial advice at a young, uh an earlier age because he understands the value of a financial advisor and not only just what they do, which lots of people don't, but the value that they then can in turn add.
• 40:22
  SPEAKER_01: Yeah, exactly.
• 40:23
  SPEAKER_01: And it's um it's nice because when we have those conversations with conversations with them, um typically that will lead to them coming to us in the first instance.
• 40:32
  SPEAKER_01: And because then mom and dad's got a sizable portfolio with us, we can work with them on a one-to-one basis.
• 40:38
  SPEAKER_01: And then it's great helping guiding them through early stage career and building up their kind of their own pots of money and stuff like that.
• 40:45
  SPEAKER_01: So it's it adds another aspect to the job that's quite nice, um, where you're actually helping people a little bit more than just dealing with the wealth they've already accumulated.
• 40:54
  SPEAKER_02: Yeah, must be super, super rewarding.
• 40:57
  SPEAKER_02: And um before we finish off the podcast, Tom, I was about to ask you one final question.
• 41:02
  SPEAKER_02: So um I work um not just on the Financial Planner Live podcast, but also with Recruit UK.
• 41:09
  SPEAKER_02: And um, as we spoke about previously, I deal with so many individuals across the board that like yourself or a young um are sort of a young um financial planning professional who have sort of thought, you know, I'm in maybe back office roles or something like that, but I want to be an advisor and they've listened to the podcast today and they're like, I want to be like Tom, I want to be a super successful young advisor.
• 41:32
  SPEAKER_02: What tips would you get give to those individuals that they can hone down on and get them to sort of being a financial planner as soon as possible?
• 41:41
  SPEAKER_01: Um, so I think the two biggest things that I'd always advocate for is get your exams because the the technical knowledge is the bedrock for everything you do.
• 41:49
  SPEAKER_01: Um, but then also just start having conversations, whether it's all inside your own firm or with people like yourself, just start making it known that you're looking to progress within that existing role.
• 42:01
  SPEAKER_01: Um, I mean, I was I've been lucky throughout my career.
• 42:05
  SPEAKER_01: Um, jobs were created internally.
• 42:07
  SPEAKER_01: Um, and it was only because people knew that I wanted to take that next step that I was then put into the mix for a job that was created for someone else.
• 42:16
  SPEAKER_01: Um, so you really need to be vocal with it.
• 42:19
  SPEAKER_01: You can't expect someone to know that you want to make that next step, and they're just suddenly going to create a job that you're gonna be the perfect fit for.
• 42:27
  SPEAKER_01: Um, but yeah, ultimately get the exams, it'll get give you the biggest underpin.
• 42:31
  SPEAKER_01: Um, and a lot of companies will be looking for that.
• 42:34
  SPEAKER_01: You'll need to be diploma qualified or be able to prove that you you have knowledge in the background.
• 42:39
  SPEAKER_01: Um, and yeah, be proactive with it.
• 42:41
  SPEAKER_01: Um, otherwise, it's you could sit here for five years and still be doing the job you were, still wanting to do the next step, but have made no real progress along the way.
• 42:50
  SPEAKER_01: Um chat to other advisors.
• 42:52
  SPEAKER_01: Um, that's where I've learned a huge amount of stuff is just talking to people that are already doing it and they can put you in the mix or say, yeah, you might want to look at this or do that, and and so on.
• 43:02
  SPEAKER_02: I guess you've got to back yourself as well.
• 43:04
  SPEAKER_02: You know, if you're in a moment where you're like, I want to become a financial advisor, yeah.
• 43:08
  SPEAKER_02: Know why you want to do it.
• 43:10
  SPEAKER_02: What what skill set have you got that's gonna make you a better financial advisor than the next person?
• 43:15
  SPEAKER_02: Um, so it's definitely a really um really encouraging podcast um for lots of individuals out there that are of a younger age profile that might have faced barriers or backlash or potentially even doubting their own capabilities.
• 43:29
  SPEAKER_02: You can be very successful.
• 43:31
  SPEAKER_02: And there's lots of different avenues to do so.
• 43:33
  SPEAKER_02: And you can also be super it can be super rewarding, you know, passing on that knowledge to the next generation.
• 43:40
  SPEAKER_02: So, Tom, it's been so nice to have you um with me this morning um for this week's episode of the Financial Planner Live Podcast.
• 43:48
  SPEAKER_02: So thank you very much for taking the time to speak to me today and talk all things, you know, young advisors, um, the future of the industry, education.
• 43:56
  SPEAKER_02: We've covered so much.
• 43:57
  SPEAKER_02: So it's been an absolute pleasure to have you.
• 44:00
  SPEAKER_01: Great.
• 44:00
  SPEAKER_01: Well, thank you very much for having me.
• 44:02
  SPEAKER_01: And uh yeah, we'll cross paths in the future.
• 44:04
  SPEAKER_02: Yes, I'm sure we will.