Latest / Financial Planner Life Podcast / What an operational role within financial planning looks like – Laura Dean

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What an operational role within financial planning looks like – Laura Dean · 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_01: Hello everyone, it's Elaine Air here for this week's episode of the Financial Planner Life Podcast.
• 0:43
  SPEAKER_01: And this week I'm joined by Laura Dean, Operations and Marketing Director at Balance Wealth Planning.
• 0:50
  SPEAKER_01: Within this week's episode, we break down what someone does within an operations and marketing role, the value that these positions have to the business and they have externally, and how to navigate the profession to get into these roles.
• 1:06
  SPEAKER_01: How are you this afternoon, Laura?
• 1:08
  SPEAKER_01: I'm really good, thank you.
• 1:09
  SPEAKER_01: How are you?
• 1:10
  SPEAKER_01: I'm very well, thank you.
• 1:12
  SPEAKER_01: And it is the question that I always like to start with, just to give us a good roundup of you know, what you do.
• 1:18
  SPEAKER_01: Do you mind talking us through a little bit about what you do in your career journey today, how you've got to this point?
• 1:24
  SPEAKER_02: Yeah, so um I suppose like quite a lot of people in financial services, I fell into the industry.
• 1:30
  SPEAKER_02: So it wasn't kind of where I thought I'd end up, but um, you know, kind of just went with it and um and yeah, hopefully made the best of it.
• 1:39
  SPEAKER_02: Um I um I started out just sort of fresh from school, not really knowing exactly what um I wanted to kind of do next, um, a bit of a crossroads.
• 1:52
  SPEAKER_02: And um and I just applied for in my local village a part-time admin role that just was kind of advertised locally.
• 2:00
  SPEAKER_02: Um, and it just happened to be a financial advisor firm.
• 2:03
  SPEAKER_02: So um I sort of started there, didn't really think much of it, thought it would be quite temporary.
• 2:07
  SPEAKER_02: And then um, I mean, I don't even know how long I've been in the industry now, but years and years.
• 2:12
  SPEAKER_02: Um, I think it's about 14 years or something like that.
• 2:16
  SPEAKER_02: I'm kind of still in the industry and you know, have done um various different roles.
• 2:20
  SPEAKER_02: So yeah, I started off doing part-time admin.
• 2:23
  SPEAKER_02: Um, and then as I got a bit more interested in financial, you know, sort of services and what they actually did.
• 2:30
  SPEAKER_02: Um I did um CII exams and then developed into um being a power planner and then eventually into um a financial advisor.
• 2:40
  SPEAKER_02: And then yeah, finally ended up um doing operations and kind of management um stuff now in my most recent position.
• 2:47
  SPEAKER_02: So yeah, kind of had a cluther of different roles.
• 2:50
  SPEAKER_01: So you've had a sort of climb the ladder throughout the industry.
• 2:55
  SPEAKER_01: And I think it's really interesting what you say about um how you didn't necessarily, you know, you know, look out to be within financial planning and you naturally fell into the industry.
• 3:04
  SPEAKER_01: It's definitely a common theme that becomes apparent.
• 3:07
  SPEAKER_01: Even you know, myself and what I do, I would never grow grew up thinking that I was going to work in recruitment, but I fell into it and I and I love it.
• 3:15
  SPEAKER_01: And here I am, how many years later with a long, fruitful career, hopefully ahead of me.
• 3:19
  SPEAKER_01: So once you started, you know, your role, you know, that first admin role, what is it that made you stay?
• 3:25
  SPEAKER_01: What enticed you and thought, you know, this is it for me?
• 3:28
  SPEAKER_02: Yeah, um, I suppose it's, I mean, from a personal level, I guess, um, you know, I when I first started out, I had no experience at all, even on, you know, a personal level, having, you know, finance money and investments and all of that sort of thing.
• 3:43
  SPEAKER_02: It's all quite new to you.
• 3:44
  SPEAKER_02: You know, you come out of school and then you've all of a sudden, um, you know, financial education is not something that was particularly around, you know, sort of when I went to school.
• 3:52
  SPEAKER_02: I know that they're trying to get a bit more of that.
• 3:54
  SPEAKER_02: So on a personal level, it was really interesting finding out about um, you know, just what you can do with the money that you earn and how you budget, how you, you know, sort of save for the future, and just thinking about all these different aspects.
• 4:09
  SPEAKER_02: Um, and then I suppose as it kind of has developed, um, I mean, initially with power planning and financial advice, um it's just like a massive puzzle, really.
• 4:21
  SPEAKER_02: You know, you're kind of um trying to solve a problem, and I've got that kind of brain where I like to kind of work out things and find the answer.
• 4:29
  SPEAKER_02: Um, and also it's really, really rewarding.
• 4:32
  SPEAKER_02: So, you know, every client is completely different.
• 4:35
  SPEAKER_02: Every case that you sort of work on um is so varied that you just can never, and the industry is always changing.
• 4:43
  SPEAKER_02: So you can just never like you can never pause, really.
• 4:46
  SPEAKER_02: You can never know it all, you can never stop.
• 4:49
  SPEAKER_02: But it's just continual development.
• 4:51
  SPEAKER_02: And I think that you know, that's really fulfilling and kept me interested, I suppose, along the years, because it just continues to change.
• 5:00
  SPEAKER_01: So I think the rewarding element is is something really interesting, and I think it's something that lots of different people touch on, and lots of reasons why a people you know look to join the industry, and B a reason why lots of people stay in it.
• 5:13
  SPEAKER_01: And we always talk about finances are so important and being able to support the people through that journey.
• 5:20
  SPEAKER_01: It must be so rewarding to feel the real value that you add to your clients.
• 5:24
  SPEAKER_01: Did you notice that from even like an administrative level?
• 5:27
  SPEAKER_01: How much value that you add into these people's lives?
• 5:30
  SPEAKER_02: Definitely.
• 5:31
  SPEAKER_02: I think you know, all aspects of, you know, and definitely our team now, um, they play a massive part in, you know, the client journey and um and you know nothing, you know, the admin is is really essential.
• 5:48
  SPEAKER_02: And yeah, I definitely found that, you know, you were helping people on a day-to-day basis, getting things done.
• 5:55
  SPEAKER_02: Um, you know, if they needed a withdrawal for something that um, you know, was is really important purchase, or they wanted to gift something to somebody, or you know, life-changing things for people, you know, finances really.
• 6:09
  SPEAKER_02: Um, you know, people want financial advice at key stages in their life, um, and they need that support.
• 6:16
  SPEAKER_02: And that goes from, you know, the administrators all the way up to um, you know, the financial planners and every part of that that journey for them.
• 6:25
  SPEAKER_02: Um, so yeah, I found I found it in every role that I've I've done.
• 6:28
  SPEAKER_02: You know, you really see the value of what you're adding to to people, and um, and that's really lovely.
• 6:34
  SPEAKER_01: Yeah, I find that really interesting because you speak to lots of people that um, you know, are looking to join the industry, may that be graduates, may that be people that have started doing self-studying their ROs and they're really passionate themselves about building a long-term career and within financial planning.
• 6:48
  SPEAKER_01: But I feel like they very often feel like they will only start adding value at that like client-facing stage when you are the individual providing the financial advice.
• 6:57
  SPEAKER_01: So um it's really interesting and really nice to hear what I think individuals in the audience that are listening to this will find it really, you know, positive that every level within the financial planning process, you know, you've worked all your way, self all the way up to a sort of directorship, even when you were an administrator, um, you still felt like you were adding value and you still noticed how much you were an incremental part of the process.
• 7:20
  SPEAKER_02: Yeah, definitely.
• 7:21
  SPEAKER_02: And I think, you know, even I mean, as sad as it sounds, but I knowing the clients, knowing their dates of birth by heart, you know, when you kind of are living and breathing that client, you know, on a day-to-day basis.
• 7:33
  SPEAKER_02: Um, you know, and and our PA at Balance, she absolutely loves speaking with clients, booking in the meetings, asking them how, you know, year on year, how they're getting on.
• 7:45
  SPEAKER_02: And that's not necessarily kind of part of her role, but it really makes a massive difference.
• 7:50
  SPEAKER_02: And she loves that element of it.
• 7:52
  SPEAKER_02: And yeah, it just it, you know, goes through to every, as I said, every every member of the team really makes such a massive difference.
• 8:00
  SPEAKER_02: So, um, and hopefully feels that fulfillment as well.
• 8:03
  SPEAKER_01: So that passion that you have for the industry definitely transpires, and there, you know, no doubt how you put to the point you are now, and you can feel that energy throughout our conversation, and we've only just beginning.
• 8:15
  SPEAKER_01: So we're looking here, um, director of like operations and marketing, you know, currently, and that especially the operation side of things, because I feel like I speak to lots of candidates that want to explore the avenue of the industry, but it's very a very subjective term.
• 8:31
  SPEAKER_01: So, do you mind talking us through a little bit what your the operation side of your role involves?
• 8:36
  SPEAKER_01: Yeah, sure.
• 8:37
  SPEAKER_02: Um, yeah, I guess it's one of those things where probably people don't fully understand what we can be.
• 8:43
  SPEAKER_02: And it can also vary massively from company to company and you know, industry to industry.
• 8:49
  SPEAKER_02: So um, you know, I think um generally, I guess um I get involved with um just all aspects of the business, making sure that it runs as smoothly and as efficiently as possible, making sure that all members of staff have what they need to be able to execute, you know, their their part of the, you know, they're all kind of cogs in a massive, you know, sort of machine that's kind of um working together.
• 9:15
  SPEAKER_02: And I guess I'm kind of, I don't know, maybe it sounds a bit cheesy, but the oil to kind of make it, you know, all of them run, you know, and and work side by side as as best as um as possible.
• 9:27
  SPEAKER_02: And um I can often be the person kind of in between and coordinating um stuff between the different teams and the different um sort of roles, um making sure that we're adequately resourced, you know, um in terms of recruitment.
• 9:42
  SPEAKER_02: Obviously, that's how I've kind of spoken.
• 9:46
  SPEAKER_02: Um, you know, and that's quite a key part is that, you know, as the business grows, we need to make sure that we've got the right staff um in place and the right number of staff as well.
• 9:56
  SPEAKER_02: So that's a really big, you know, sort of part of um making sure that we're operationally, you know, functioning well.
• 10:02
  SPEAKER_02: Um, you know, I guess some kind of a bit of an outside perspective that I kind of look in at, you know, observing what people are doing.
• 10:10
  SPEAKER_02: You know, people come to me if there's any issues with what they're doing, so I can kind of spot areas that we can improve, you know, um, how we're doing things and just making sure that everything runs as as efficiently as possible.
• 10:24
  SPEAKER_02: Um, so yeah, I kind of wear lots of different hats and it it involves lots of different areas of the business.
• 10:30
  SPEAKER_02: But um it's hard to put your finger on one exact thing that I do.
• 10:37
  SPEAKER_02: But um, but yeah, it's just it's lots and lots of kind of coordination and um uh data analysis, looking at what we're doing, how we're doing it, how quickly we're doing it, how efficiently things are, you know, sort of being done, whether or not it's still relevant.
• 10:52
  SPEAKER_02: Um, you know, things change so much that what we did last year might not necessarily be the same that we need to do in the future.
• 11:00
  SPEAKER_02: So um, so yeah, it's just kind of continual development really of the business.
• 11:05
  SPEAKER_01: Sounds super very impressions, but it it definitely sounds like that.
• 11:11
  SPEAKER_01: But the gist that I get about your role is that you're definitely there to, you know, as you said, look in, have a look at processes where they can be improved, you know, be that oil to make sure everything's running smooth smoothly and be a bit of that innovator.
• 11:26
  SPEAKER_01: The business is always driven forward by the people that were within it.
• 11:29
  SPEAKER_01: So I guess you act as like that standpoint to to be that person that's on the lookout for where you can be continually striving for excellence, really.
• 11:37
  SPEAKER_02: Yeah, definitely.
• 11:38
  SPEAKER_02: Yeah, I think it's definitely a forward-thinking role.
• 11:40
  SPEAKER_02: I think um, you know, sort of, as you say, the innovation to look what what else is out there, how can we do things better, you know, picking up ideas and just collating them and you know, um thinking of new ways and fresh ways of doing things, um, you know, not precious over the way that we do things and stuck in our ways at all, I think as a business require forward thinking um anyway.
• 12:03
  SPEAKER_02: So, and it's just being able to adapt.
• 12:06
  SPEAKER_01: Yeah, definitely say balanced wealth plan in a forward-thinking company.
• 12:09
  SPEAKER_01: And I think having an operations um director like yourself who is there to part, well, not your sole role, because obviously you're involved with the non-marketing side, but a large part of their role, or what their role encompasses is there to drive the business forward, is what helps people, you know, helps business to keep on pushing and become you know the best they can be and reach their potential, really.
• 12:30
  SPEAKER_01: And um, we previously discussed this, but when you joined Balance Wealth Planning, there wasn't an operations director or an operations manager in place, am I right?
• 12:39
  SPEAKER_01: Yeah, yeah, no, there wasn't at all.
• 12:41
  SPEAKER_01: So you came in and filled that role.
• 12:43
  SPEAKER_01: Did you take then the pressure off?
• 12:44
  SPEAKER_01: Was it Rebecca, your director, that was co-founder that was doing all of this previously?
• 12:49
  SPEAKER_02: Yeah, so um, so yeah, Becky, the um managing director, she was um kind of doing um, you know, the financial planner role, the managing director role, lots of different areas because obviously when you're a small business and you're growing, that's kind of you know, you don't have the all the staff in place, but you sort of start equipping the team, you know, and filling those gaps and offloading the stuff.
• 13:12
  SPEAKER_02: So yeah, we definitely work um, you know, very closely to begin with.
• 13:16
  SPEAKER_02: Um, and that's just developed where um, you know, it's um, I mean, we've recently kind of gone through defining roles in our senior management team again, just because again, the business has changed um so much that we're finding that crossover between people it needs to be a little bit more structured and where that sort of line is drawn and that sort of thing.
• 13:38
  SPEAKER_02: But um, yeah, I definitely took off a lot of um Rebecca's sort of responsibilities to free her up to do more of her advisor work and work less hours, hopefully.
• 13:50
  SPEAKER_02: And um and yeah, and it's um it developed, I think the role has definitely developed over the time that I've been there, just because nobody was there to begin with, sort of doing it fully.
• 14:00
  SPEAKER_02: Um just as we've grown and developed as a company, um, you know, the the way in which my role now looks very different to how it was when I started, I think.
• 14:11
  SPEAKER_02: So um, so yeah, but it's all really exciting and moving in in positive directions.
• 14:17
  SPEAKER_01: And I think as you mentioned then, that you know, um Becky, your managing director, was doing uh a lot of this herself previously.
• 14:23
  SPEAKER_01: And you know, you are right, small business owners, they themselves are very often having to wear lots and lots of different hats as they spot through different roles in the business.
• 14:32
  SPEAKER_01: And you mentioned that, you know, taking a pressure off Becky was one thing that was important with when this role sort of manifested.
• 14:40
  SPEAKER_01: Can you think of anything where the operations sort of manager director role has added real value to the business in terms of that being its separate own separate role rather than someone else, you know, just getting involved with this sort of stuff alongside their day-to-day?
• 14:55
  SPEAKER_02: Yeah, um, I mean, I think the biggest place where I feel that I've added kind of value, I suppose, and and the fulfillment for me has been um just the development of the team, I think, you know, and and kind of their fulfillment and you know, the voice that they then have.
• 15:14
  SPEAKER_02: Not that they didn't have it before, but just um hopefully that they feel um, you know, valued and and heard, you know, the fact that I'm there that I can kind of take on board all of you know everybody's sort of um point of view, combine it, and then hopefully, you know, put something together to move the business forward and make sure everybody's um singing from the same um you know song sheet sort of thing.
• 15:40
  SPEAKER_02: So um, so yeah, I feel like um hopefully the the team sort of culture and ethos and company, that side of things, I've worked quite a lot on um you know, making sure that everybody's just um yeah on the same page and and uh enjoying what they do.
• 15:58
  SPEAKER_02: Um and part of that is making sure that it's not, you know, the tasks that they do aren't a pain for them to um, you know, so um as simple as it sounds, but making it so that there's you know, there's improvements for them and they're not struggling to do something, something isn't really laborious and and time consuming.
• 16:19
  SPEAKER_02: Um, because nobody really wants that.
• 16:22
  SPEAKER_02: Um so so yeah, but I suppose I hope that I've added um value in that.
• 16:28
  SPEAKER_01: I'm sure you have.
• 16:31
  SPEAKER_01: Um, and yeah, I think it's one of those role where you add value in in so many different areas, it's almost difficult to like pinpoint them down.
• 16:38
  SPEAKER_01: Um this is probably you know, looking back from when almost like before you joined Balance Wealth Planning, but I think it'll be interesting to hear your perspective on um there'll be lots of small business owners that be watching this, business owners who aspire to be as successful as balanced wealth uh planning have been and continue to grow.
• 16:57
  SPEAKER_01: At what point do you think, let's say, for example, you're a business owner, you're watching this, you're beginning to you've cemented the framework of how your company wants to learn.
• 17:06
  SPEAKER_01: At what point do you think for them it's the time for them to bring in someone to work on the operational side?
• 17:11
  SPEAKER_01: Do you feel like there's an indicator of when it's the right person to bring someone in just to focus on that side of things?
• 17:18
  SPEAKER_02: Um, I suppose it's probably not an exact formula, I guess, you know, in terms of um, but I guess you definitely as the business grows, so when your teams kind of get larger, it's not just one person that you're sort of um, you know, having to organize and you know, it's not just one paraplanner, one admin that are kind of can communicate quite well together and and um follow a process and discuss it.
• 17:44
  SPEAKER_02: I think when you've got multiple, multiple people in in the same role, you need to make sure that everybody is following the same process, adhering to that.
• 17:54
  SPEAKER_02: You know, you can put these processes in place, but making sure that actually people are doing them.
• 17:59
  SPEAKER_02: And if not, why not?
• 18:01
  SPEAKER_02: I think that that's often um, you know, something that I'm drilling down into to work out um, you know, kind of who's doing what, not to check up on people, but just to make sure that every single client is getting um the same service, the same, you know, sort of um end result, I suppose.
• 18:19
  SPEAKER_02: Um and yeah, the more staff that you have, it's so much harder to coordinate that, especially if you're a managing director and you've got, you know, especially if you've got clients too, like Becky has, where he's still advising, um, not just, you know, sort of um directing the business.
• 18:37
  SPEAKER_02: But um, yeah, it's it's kind of, I think when you get to the point where you kind of need that that support, I think you'll know, hopefully, anyway.
• 18:47
  SPEAKER_02: It's it's relinquishing that control as well.
• 18:49
  SPEAKER_02: That's that's quite a big step, I think, for a lot of business owners to have somebody else come in and do aspects that you know you've been so used to to doing already.
• 18:59
  SPEAKER_02: Um that's quite a big, big step.
• 19:01
  SPEAKER_01: So I can imagine that, you know, looking back at the you know, balance wealth planning and the situation you were enjoying in Becky, I can fully appreciate how when you built something up to being your your baby, yeah, you know that you need that support.
• 19:15
  SPEAKER_01: But one thing is you need knowing you need it, another thing is actually you know passing everything along to someone else to support you with.
• 19:22
  SPEAKER_01: Did you find an element of that?
• 19:24
  SPEAKER_01: Um sort of initially it being quite a close working relationship between the two of you.
• 19:29
  SPEAKER_02: Yeah, I think um, yeah, we worked super, I mean we still do work super closely now, but it's definitely different.
• 19:35
  SPEAKER_02: And I think um, you know, to begin with, you know, it's hard when roles change to um relinquish that that control and and um and not get involved in things that you previously got involved in.
• 19:48
  SPEAKER_02: So definitely there is an element of that, but we both just sort of found our feet, found the kind of natural rhythm between ourselves and and as I say, the the company has just developed as such that you know my role is very different now to kind of um what it initially looked like and and the day-to-day tasks that that I do.
• 20:09
  SPEAKER_02: Um but the same sort of objective of the role is you know, um different um sort of day-to-day tasks, I guess.
• 20:19
  SPEAKER_02: But um, but yeah, it's um yeah, it's really it's a hard sort of transition, I think, for um, especially if there hasn't been that person doing it before.
• 20:29
  SPEAKER_02: I think for the person filling the role, it can be quite difficult because there's nobody saying to you, you need to do this, this, and there's no kind of training or you know, you have to find your feet.
• 20:41
  SPEAKER_02: So that can be quite difficult.
• 20:42
  SPEAKER_02: And then equally for the person who is maybe offloading some of their responsibilities, that can be a hard, you know, hard task too.
• 20:50
  SPEAKER_02: But um, but it worked really well.
• 20:52
  SPEAKER_02: So um, so yeah, but definitely from both sides, there's an adjustable.
• 20:57
  SPEAKER_01: I was just saying, and as we've demonstrated, and we spoke about previously, you know, the even though that is an element of relinquishing some of your control and the apprehension to hand over something that you trust a lot to someone else that you're now gonna trust as well.
• 21:09
  SPEAKER_01: But as we've demonstrated, you know, that having someone in that operational role adds real value.
• 21:15
  SPEAKER_01: And I personally don't think that as if you're looking to be a business business that is looking to scale up quite considerably, I don't you need someone to fit in that role to support you.
• 21:25
  SPEAKER_01: It's something that you're not going to be able to do without someone just looking over that for you.
• 21:29
  SPEAKER_02: Yeah, definitely.
• 21:30
  SPEAKER_02: And it goes back to the you know, saying two heads are better than than one, and you know, and two, three, however many it is in your senior management team, that everybody has a different take and experience, you know, and and each one is equally as valuable.
• 21:46
  SPEAKER_02: And there is no way that one person can possibly um, you know, have all of that.
• 21:53
  SPEAKER_02: And I think it's just um we really embrace everybody's, you know, sort of hit career history.
• 22:00
  SPEAKER_02: you know, life um journey, all of that sort of thing, because that formulates a really diverse workforce and you know and and just a better way of executing the business, really.
• 22:15
  SPEAKER_01: Um so yeah, I think it's really yeah, 100%.
• 22:20
  SPEAKER_01: And we've mentioned it being a role where you add real value.
• 22:23
  SPEAKER_01: I definitely feel like these um sort of operational roles are quite transformative, especially like yourself who's come in for a position from a position where you didn't have that role previously and you've sort of, I'm sure it's grown organically alongside yourself as the business has grown.
• 22:39
  SPEAKER_01: Could you think of any project off the top of your head or anything you've been involved with that's been quite standout from your time being in that role?
• 22:48
  SPEAKER_02: Yeah, I think um I think as I mentioned before definitely the work that we've kind of done on the team in terms of um just the culture of the business um and that is is really really crucial to a well functioning um business and I think it can often be underestimated the power of having you know really great candidates but also then making sure that they thrive and have the best opportunity whilst working you know for a company.
• 23:21
  SPEAKER_02: So I think that's been really crucial um and um and and the value of that I think is um hopefully felt by all members of staff and and um and you know sort of um has been brought to the forefront I suppose um rather than being secondary thought I think you know that we want to make sure that um everybody feels um feels that um so yeah um and then I'm just trying to think I suppose in terms of um I mean just general day-to-day things uh it's making everything a lot more automated and online.
• 23:58
  SPEAKER_02: You know we we were very forward thinking and and technology kind of based anyway.
• 24:05
  SPEAKER_02: But a lot of the work that I do is basically trying to make it so it doesn't need to be a manual process.
• 24:13
  SPEAKER_02: It's um you know if we can automate stuff as much as possible to mean that it frees up somebody to do lots of other amazing things, you know, um then I will try and find any way possible to make that happen.
• 24:27
  SPEAKER_02: So you know sort of turning it from and obviously the pandemic you know forced us a little bit more with not having CAPE being able to do face-to-face meetings and sorts of things like that.
• 24:41
  SPEAKER_02: Which we were definitely on the right track anyway but it it's catapulted that even further.
• 24:46
  SPEAKER_02: So I think um yeah the automation side of things um definitely is is a real value um as I say in terms of efficiency it frees up staff to do other really important things that you know can't possibly be done through automation.
• 25:03
  SPEAKER_02: So um so yeah I think that's quite a an area that operational um you know roles can add value um make things more efficient and and process driven.
• 25:15
  SPEAKER_01: So I think it's absolutely clear how much value your role adds to balanced wealth planning.
• 25:20
  SPEAKER_01: And I think it's really interesting for the audience to hear about what value you know this role and this position does have to a business and potentially if you're you know in the audience listen to this and you've got a couple of pain points that um are resonating it might be that you need to bring someone in like Laura to support you with that kind of side of things so you can take off one hat and the many others that you also have to wear in the day to day.
• 25:44
  SPEAKER_01: And you know you previously were in a you know in an advisory position before you stepped into this role am I right?
• 25:52
  SPEAKER_02: Yes yeah I was yeah and how did you find that transition how did you navigate that process to begin with um I I didn't find it too difficult I suppose I think I was kind of ready for a new challenge um I think I'd kind of in my head and I think as probably quite a lot of people in the industry felt like becoming an advisor was the be all and end all of financial planning career.
• 26:18
  SPEAKER_02: And I kind of got there and I thought I don't know if this actually is the be all and end all.
• 26:23
  SPEAKER_02: I feel like there's more that I could be doing and just maybe take a different direction.
• 26:28
  SPEAKER_02: So um so yeah I think I kind of got to that point and then thought okay now like now what?
• 26:34
  SPEAKER_02: And I'm sure that there would have been more that I could do you know in financial you know being a financial advisor.
• 26:40
  SPEAKER_02: So I think I was just ready for a bit of a change.
• 26:45
  SPEAKER_02: I guess because it's I guess what you know once you kind of work towards something for so long and then you kind of get there and then you know um yeah I just I like a challenge and and just you know sort of so I was ready for it.
• 27:00
  SPEAKER_02: But um I guess um in terms of I think as with any role when you go to a new company um it takes time to truly understand the the new business that you're working for.
• 27:17
  SPEAKER_02: It takes time to settle in, take it all on board, understand exactly what um the business is doing and and you know what we're trying to achieve.
• 27:25
  SPEAKER_02: So I think that that was a lot more crucial to the success of of my role particularly just because it is a bit more of a forward thinking development you know sort of process improvement um role.
• 27:38
  SPEAKER_02: So yeah but I I love the the varied challenges that it brings um and that was you know um it's just fulfilling and I'm making a difference in a slightly different way.
• 27:51
  SPEAKER_02: You know um yeah it's just rewarding but in a in a different sort of way not in a client facing way which again I think a lot of people in the industry feel that that's kind of the box that to tick.
• 28:06
  SPEAKER_02: And it isn't necessarily you know um it's great for you know some people um but there's so much more out there and so many other you know different roles um that um that yeah I'm actually you know I just embraced it and found it um you know great but just in a different different way.
• 28:26
  SPEAKER_01: Yeah it's really interesting you say that about you know being the advice role being like the end of the tunnel and the be all and end all.
• 28:33
  SPEAKER_01: I speak to so many individuals that I feel like I just chasing after the advisory role and aren't sitting down to enjoy the journey that they're actually on.
• 28:43
  SPEAKER_01: So I think it's really interesting to have someone from your position on to speech with the audience to diversify the industry and show that it's not all about being an admin and being a power planner and then being a financial advisor and that being your end goal there are so many different avenues in the industry and so many different things that you can explore.
• 29:03
  SPEAKER_01: What sort of because obviously what you've been doing to date within the profession as we said you know from the admin position all the way up to the advice will have taught you so much and really bought built on your transferable skill set.
• 29:15
  SPEAKER_01: What skills would you say from the other roles that you had in the financial planning profession had really helped you when you stepped into your operational director, well your director the operational role?
• 29:25
  SPEAKER_02: Yeah yeah definitely um so I think massively the fact that I'd kind of sat in everybody's seat helps with the role that I do because I can empathise with every kind of um every person that I'm speaking to um and you know often I'm kind of the in-between person um you know if if an advisor wants something doing a bit quicker and a paraplanner says that's not possible, you know, um you can that's a common conversation between um between you know sort of teams and and stuff like that.
• 29:57
  SPEAKER_02: And I've seen both sides of the fence.
• 29:59
  SPEAKER_02: I understand that.
• 30:00
  SPEAKER_02: So I think that massively helps um you know I can empathize um and and see both sides.
• 30:07
  SPEAKER_02: Other skills I think you need to be quite detail oriented and um quite analytical looking at um things from an objective point of view um you know questioning everything why are we doing something like that?
• 30:23
  SPEAKER_02: Can we do it any different?
• 30:26
  SPEAKER_02: So I think that's really important to have that kind of um skill set and just generally being able to kind of multitask and juggle you know as we've said quite a few times I don't want to keep repeating but wear a lot of different hats.
• 30:42
  SPEAKER_02: So I think being adaptable things happen you know you can't be kind of setting your ways of what your week's going to look like you can have a bit of a plan but lots of things can happen and things just change.
• 30:54
  SPEAKER_02: So I think that's really important as well to to have that um ability to kind of think on your feet and and be able to adapt and and um and change you know direction quite quickly um and um yeah so I think that definitely helps.
• 31:10
  SPEAKER_01: And in terms then of someone that might be listening to this and being like you know the operational side of things sounds like something that I'd really love.
• 31:17
  SPEAKER_01: It sounds like it would use my skill set really well, you know, potentially people that are in advisory roles or in other roles within the financial planning profession, how would you say that they you know took that leap, take that leap into an operations role because I can imagine that people in the audience will feel like that's something quite difficult to break into once you're already sort of sat in the traditional roles within the industry?
• 31:39
  SPEAKER_02: Yeah I think there's definitely transferable skills from um all aspects.
• 31:44
  SPEAKER_02: I think definitely as a especially if you're an advisor you're often having to juggle lots of different clients at different stages, you know, sort of manage expectations, communicate.
• 31:56
  SPEAKER_02: So I think a lot of those skills are really important and and um you know sort of it's kind of a bit of a project management type um role which you know can be with financial advisors um you know something that you need.
• 32:11
  SPEAKER_02: So that can be really useful you know you kind of again financial advisors have to think on their feet, have to adapt, have to change you know sort of what they're they're saying and doing um quite easily um and um and yeah so I think definitely um those skills are brilliant.
• 32:29
  SPEAKER_02: I think ultimately you need to be able to kind of take a step back and understand the business that you're going to be working for or doing that role for and the better that you understand that and what the goals are, um why we're doing what we're doing and you know how we get to that that end sort of goal then I think you know anybody can um can have a you know flying start to to you know their operations sort of career really I think that's kind of the key um to kind of live and breathe the company that sounds a bit again but so for anyone really that is listening to this and thinks operation sounds like something that would interest me just take the leap and you know position yourself and go for it.
• 33:15
  SPEAKER_02: Yeah definitely I I didn't have any experience um particularly like in in the role before doing it but there was lots of transferable skills that throughout my career I could um you know align with operations um so yeah just just go for it give it a go and um and hopefully you'll enjoy it as much as as I do.
• 33:37
  SPEAKER_01: So we've discussed a lot about the operational side of your role and what that looks like and I think lots of our audience will be really um sort of excited to unveil what can sometimes be quite a subjective and unheard about role within the industry and what that looks like for you.
• 33:52
  SPEAKER_02: But you work as operations and marketing director so what does the marketing side of your role encompass I suppose I oversee um anything that represents kind of the the company really so any kind of content that um goes out about the business so whether that be to clients or prospects um and also internal you know communications making sure that all staff are kind of understanding what the message is of the company really and and like I sort of said before about you know why we're doing what we're doing and what we're hoping to achieve by doing it and how we go about doing that.
• 34:31
  SPEAKER_02: So um so yeah it's just kind of you know I guess shouting about you know who we are what we do how we do it um and why that's you know a really good good thing and whether that be to um you know attracting new new staff um you know through sort of um our marketing um and and being out there and and just being you know known in the industry I think that's really important um as well as being heard by you know people that need financial advice as well.
• 35:01
  SPEAKER_01: Yeah because we I think this is one thing that I find really interesting about marketing is we have um a marketing lady that works alongside us and I felt like I didn't fully understand what that entailed until we had someone you know where you could see what you know how they were supporting the business and that element and it's really interesting what you said.
• 35:20
  SPEAKER_01: It's not just all external and how we view it and that all going out to clients.
• 35:25
  SPEAKER_01: It's the internal part of it and I guess that's just as crucial in your role as well.
• 35:30
  SPEAKER_02: Yeah definitely so um every member of staff really you know gets the the the objective and what we're trying to do for clients and how we're trying to help them because that helps the the work that they do too.
• 35:44
  SPEAKER_02: They understand that there's a a real meaning and purpose for it um you know as as you know we kind of asked um before about everybody in the process feeling like a valuable part and and adding value and making a difference to clients.
• 36:01
  SPEAKER_02: So yeah um you know what we kind of put out there um you know as little treats for staff at different points um it's all kind of it all being coherent with the the brand and and um and everything like that.
• 36:16
  SPEAKER_02: So yeah internal comms you know just in terms of perks and benefits that all um matters and then also um you know just kind of how we go about things and making sure everybody's kind of following the same voice for the company I suppose you know so um every single member of staff you know needs to be an advocate for what we do um so it's really you know important that they understand that so yeah and I think it is also really you know as we just touched on then how marketing is just more what you you think it has.
• 36:51
  SPEAKER_01: You know you would you traditionally think about marketing um in this kind of role and you suspect that um its key driver will be sort of client attraction um and I'm sure that is a very key part of it.
• 37:04
  SPEAKER_01: But marketing is also the element that you know the the website and the landing page is the first thing that prospective you know candidates see when they look on your website.
• 37:14
  SPEAKER_01: It's how you sort of position yourself to being the the company that you are today.
• 37:20
  SPEAKER_01: And I guess with your role that what you've been doing have you noticed because I will say Balance One Planet has buttons have a lovely website if anyone's listened to this and hasn't themselves but um it really like feeds your message across and it's um it really hits the nail on the head in that sense.
• 37:38
  SPEAKER_01: Have you found that marketing and what you've been doing and supporting marketing with the company has brought back results in areas that you wouldn't necessarily expect.
• 37:46
  SPEAKER_02: Yeah definitely um I mean like you said you can just think about marketing in terms of like you know acquisition of new new um clients but it's client retention and also you know um and being you know people knowing about us in the industry and people wanting to work for us as well too you know we want to attract the best possible candidates and part of that is how we you know present ourselves as well as an employer.
• 38:16
  SPEAKER_02: So um so yeah I mean we've just been um announced as one of the um best financial advisors to work for um in 2022 so we're really proud of of that as an award that we got recently so you know again that was you know we've we've done it is based on employee feedback and and um and you know kind of our offering to to members of staff as well um in terms of the benefit package and just our company ethos and how we treat all our employees.
• 38:47
  SPEAKER_02: So you know that's been a really lovely thing to do to understand that actually you know kind of what we what we're trying to do we're actually hopefully achieving and being recognized for as well.
• 38:59
  SPEAKER_02: So um so yeah all of our staff need to be advocates it's such a small industry isn't it um everybody kind of knows each other and um you know our our employees need to be advocates of us as much as you know um our clients do um because that helps attract new clients and and just help us be known in the industry and and um sorry new candidates so yeah um yeah it's it's so important.
• 39:27
  SPEAKER_01: Yeah and it's something that I find really interesting especially coming from a recruitment perspective and it's that as I said you land on your website you immediately don't just know get hold of a forward thinking company you can you can see that it's not archaic it's it embodies the qualities that you're trying to be progressive forward thinking um and it's from a recruitment perspective I find it so interesting how the marketing that you funnel out is so important to attracting candidates and then the internal side of things that we don't necessarily see is so crucial to the um retention of candidates and that retention of staff.
• 40:09
  SPEAKER_01: So that marketing role is just all about adding value to your business but it's not just all about as we said you know bringing in more clients and those clients staying it's just as important actually for the the staff body within as well.
• 40:21
  SPEAKER_02: Oh yeah definitely you know and and um you know with with your help we've obviously recruited some great members of of staff and which I'd be very honoured to help with yeah and um and you know we want to make sure that they have the opportunity and the voice and that um the the career that they you know they want and that they learn something from from being um with us and we we learn something from from them too.
• 40:45
  SPEAKER_02: So um so yeah it's um yeah it's super important that marketing plays you know um quite a big part in in that and it it's just um making sure all employees understand you know what they're doing and how they're helping people and the work that they do is really valuable.
• 41:03
  SPEAKER_01: Yeah Fab yeah definitely that definitely transpires across and I think you know coming from a perspective where we're speaking with people um that are landing on your page and you know hearing about balanced wealth planning for the first time that message definitely transpires through the marketing that you're putting out there and I think that is really crucial to be progressive and forward thinking you have to demonstrate that you can't be a wallflower and you know try and make a difference.
• 41:30
  SPEAKER_01: And I think one thing's always been really good about balance is that you challenge the traditional conventional models and haven't been scared to do things a little bit differently and you know encompassing both your operational role and the marketing roles together it's about showcasing and demonstrating that.
• 41:45
  SPEAKER_02: Yeah definitely yeah for sure and um yeah I think it the two roles it can be quite difficult to juggle the two but they work quite well together because it kind of they they complement each other really so um you know it's consistent really throughout all aspects of the business.
• 42:04
  SPEAKER_01: So yeah.
• 42:05
  SPEAKER_01: I didn't even know about this 2022 top um one of top financial advisors to work well that's amazing.
• 42:11
  SPEAKER_01: Yeah so nominated recently for sort of gender and in and inclusivity awards as well so um it goes to show that balance world planning isn't just talking about being the change that it wants to see but you are being the change that you want to see.
• 42:26
  SPEAKER_02: Yeah definitely and I think um you know one of our key sort of you know goals for the business um you know obviously you have goals in terms of financial um you know profitability and all of that sort of thing but it's about um it's about the industry it's about making a difference um within the industry educating people and people actually wanting to have this as a career and and and not having so many people just fall into it.
• 42:55
  SPEAKER_02: I mean it's great that people do just fall into it but we would love that people look to financial you know advice as a career just as people aspire to be a lawyer or an accountant you know and and being as well sort of thought of um you know sort of widely um as um as any of those other you know career paths.
• 43:23
  SPEAKER_02: And so we really want to do more and you know get involved in in you know more sort of within you know promoting it as a as an industry to get into and and and the reasons why it's it's really brilliant and um you know um it's just changed over the years so much hasn't it and it's time to dispel all the you know so exactly I think one thing that you know you've just touched upon then that um is super interesting is that you know you're you're not just being the the you want you're being the change that you want to see within the industry.
• 43:59
  SPEAKER_01: You know I fell into what I did you fell into what you did and it's amazing that you're so passionate about something which you know you just naturally organically fell into it's almost like fake some people it's like you go to school and everyone wants to be a bat and you meet so many people that want to be accountants to be lawyers.
• 44:17
  SPEAKER_01: I do feel like there is a responsibility for the people that are passionate about financial planning within the industry to promote that to the next generations and that's how we're gonna solve the talent gap that come in but one thing I will say is that Balanced Wealth Planning definitely positions itself and it's a company that they sort of you sort of want to work for and that progressive forward thinking element of balanced wealth planning definitely transpires through and you've obviously pushed a lot of change um within the firm and I'm sure there's lots of exciting things that will be bubbling away in the future as well Laura so thank you so much for taking the opportunity to speak with me this afternoon for the podcast it's been so amazing to hear about what a marketing role looks like what an operational role looks like and how you can navigate different career paths within the industry to get to that point.
• 45:02
  SPEAKER_01: So thank you so much for joining me this afternoon Laura it's been that pleasure