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From Admin to Paraplanner to Practice Manager - Paula Guedes Inspiring Journey in Financial Planning · Financial Planner Life Podcast

• 0:00
  Speaker 1: And today's guest on the Financial Planner Live podcast is Paola Guedes.
• 0:03
  Speaker 1: She is the practice lead here at Foster De Novo.
• 0:06
  Speaker 1: She talks to us today how she left Brazil, came to England, did a master's in economics, went into financial planning, got level four, qualified, became a financial advisor, went back into power planning at Foster De Novo and supercharged her career in the business.
• 0:23
  Speaker 1: She's now a practice lead.
• 0:24
  Speaker 1: She's super ambitious.
• 0:25
  Speaker 1: She's a leader in the financial planning profession and an inspiration to all women wanting to get ahead.
• 0:31
  Speaker 1: You're going to love this episode.
• 0:32
  Speaker 1: Thank you so much for joining me today on the financial planner life podcast on this special with foster de novo on a sunny day at last yeah, you've been in the sun, though you've been over in albania yes, it just came back 10 days of sun, completely different than here, was it?
• 0:58
  Speaker 1: fantastic.
• 0:59
  Speaker 1: Never heard, I've heard of albania.
• 1:01
  Speaker 1: I didn't know it was like a place that people went on their holidays, until you showed me through Instagram pages.
• 1:06
  Speaker 1: It's become this super popular place, right.
• 1:08
  Speaker 2: Yeah, and it's really beautiful.
• 1:10
  Speaker 2: I have to say we enjoyed we travel around and, yeah, it's a beautiful country.
• 1:15
  Speaker 1: Oh, that's fantastic.
• 1:16
  Speaker 1: I'm going to check it out, absolutely.
• 1:17
  Speaker 1: But it's not a travel show, is it this?
• 1:19
  Speaker 1: The Financial Plan of Life?
• 1:20
  Speaker 1: It's about journeys within the financial planning profession.
• 1:23
  Speaker 1: It's about careers, and today we're going to talk about yours, so let's kick things off.
• 1:27
  Speaker 1: How did you get into the financial planning profession and how did you then end up in Foster De Novo?
• 1:35
  Speaker 2: I think to.
• 1:36
  Speaker 2: Yeah, in a way to explain how I ended up in financial planning, I think we need to go back when I started, when I arrived in the UK, I believe 12 years ago.
• 1:45
  Speaker 2: So when I arrived here, the idea was I wanted to do a master's and I always being a very analytical person, so I decided to do a master's in finance and economics.
• 1:56
  Speaker 2: That then led me to find a job, a wealth management assistant job, in a financial planning firm, and that was actually my first contact with the profession.
• 2:07
  Speaker 2: So, yeah, in that first company.
• 2:09
  Speaker 2: Then I then did my level four qualification.
• 2:12
  Speaker 2: So I did all my first exams that you say like more the basic exams to get into the financial planning, to then become a financial planning advisor or a better planner, for example.
• 2:24
  Speaker 2: Yeah, and then there I then got promoted.
• 2:27
  Speaker 2: I went, I become a trainee wealth manager.
• 2:30
  Speaker 2: I learned a lot, a lot about the professional, about the different career paths within the profession, within the industry, and, yeah, about, I think two years, a little bit over two years, in that job.
• 2:43
  Speaker 2: I decided that for me I needed to make a next like what would be next.
• 2:49
  Speaker 2: So I decided to make a move.
• 2:51
  Speaker 2: I joined then a bank as a wealth manager.
• 2:56
  Speaker 2: But some, I have to say, like I think in that position I soon realized that client facing was not what I actually wanted.
• 3:06
  Speaker 2: Um, I really loved all about, like the research and about the um, yeah, more of the not only operational side, but like being the right arm of the advisor and being that person, that kind of like love the calculations, love the research would help the advisor, put the advisor together.
• 3:28
  Speaker 2: So then, um, very like I stayed there for about six months because within the first three months I already realized that was not for me and that's when I started looking for other jobs and that's how then I kind of end up here, because I then start looking for paraplanners, which is more the technical side, um of the advice.
• 3:48
  Speaker 2: And then I joined Fosanova about then five years ago now, um, as a paraplanner and then, yeah, um, a lot happened well, yeah, brilliant that's.
• 4:00
  Speaker 1: And what I love about that as well is that you came from Brazil, right.
• 4:04
  Speaker 2: Yes.
• 4:05
  Speaker 1: Did your master's here.
• 4:07
  Speaker 2: Yes.
• 4:07
  Speaker 1: Yeah, so you come over, you've done a master's, yeah, which is pretty damn impressive.
• 4:10
  Speaker 1: I couldn't even pass my GCSEs and I'm English.
• 4:12
  Speaker 1: So, yeah, you come from Brazil, you've done your master's, got through that, and that was in economics.
• 4:18
  Speaker 2: Economics and finance.
• 4:19
  Speaker 1: yes, economics and finance.
• 4:20
  Speaker 1: That kind of made you think, well, where can I go with this?
• 4:26
  Speaker 1: You found your path into financial planning where you did your qualifications and was more focused around administration, power planning, that kind of thing in that role I started completely on an entry-level basis, so you were right on the admin role.
• 4:36
  Speaker 2: So pretty much um, creating packs for the meetings and just completely learning about the profession.
• 4:46
  Speaker 2: It was the first time I was having any exposure to financial planning, but what was great about the job was they gave exposure to all of the different types of jobs in a way.
• 4:58
  Speaker 2: So even in an admin role, we would go to the meetings with the clients, we would talk, we would go to the meetings with the clients, we would talk, we would have client contact.
• 5:06
  Speaker 2: So that role is actually, um, a very like a learning curve for me, like it's.
• 5:11
  Speaker 2: I learned so much there and I learned about then all the different paths that I could go in a way.
• 5:17
  Speaker 2: Well, I could go admin side and stay more on the administration and grow that way.
• 5:22
  Speaker 2: I could go more technical side, which is more the pattern planner side, writing reports, being like the, helping the advisor create all the advice, or then I could be the advisor myself.
• 5:35
  Speaker 2: So I think that job, in a way, was just a great opportunity for me to learn more about the industry and know more about all the different career paths that are available within financial planning.
• 5:49
  Speaker 2: Yeah, yeah.
• 5:55
  Speaker 1: And I think people should have that exposure.
• 5:57
  Speaker 1: So when they go into a financial planning company, being able to see how different sides of the business actually works allows people to start to test it really and find out what their path actually is by seeing it and by doing it and some of us are those activist type learners I'm that type of person.
• 6:12
  Speaker 1: I'd rather do something to understand, whether or not I like it or not, and I think, just kind of touching on your journey like admin power planning then into client facing, because you joined a bank, yeah, and started doing client facing and that was like a trainee wealth manager, was it that kind of thing?
• 6:26
  Speaker 1: Were you in front of clients?
• 6:28
  Speaker 2: Yeah, like it was straight away.
• 6:29
  Speaker 2: So I actually got as a.
• 6:31
  Speaker 2: You had a period where you would join as a trainee.
• 6:34
  Speaker 2: I only stayed there six months.
• 6:35
  Speaker 2: So you join as a trainee wealth manager.
• 6:38
  Speaker 2: You then go through their own kind of like study plan and then you get signed off and you sit down in front of the clients.
• 6:46
  Speaker 2: But part of this study plan it is you do already client meetings and all of that.
• 6:55
  Speaker 2: You lead the meetings and you also do your own report.
• 6:58
  Speaker 2: So it involves everything but that position.
• 7:01
  Speaker 2: For me it was client facing, but the bank was too strict on what you could do in a way.
• 7:09
  Speaker 2: So I feel, working for Forza de Novo, for example, we do a holistic plan right, so we only not look into pensions or investments, we look into inheritance tax, we look at how to reduce your income tax liability Like there are so many different things that you can do and I felt the bank was too restrict.
• 7:31
  Speaker 2: In addition to that, I didn't enjoy myself the daily client facing, the daily contact and, as weird as it sounds, it felt for me that that was not the right thing to do, that that's not what I wanted for my career and that is one of the things that I talk to my team a lot of the times is not knowing.
• 7:52
  Speaker 2: Not knowing what you don't want sometimes is a right step on your career.
• 7:57
  Speaker 2: Because for me, making the decision led me to where I am today and for me I'm actually thinking I'm on the right path.
• 8:05
  Speaker 2: So maybe I would feel stuck there.
• 8:09
  Speaker 2: I would feel you know what, why I don't want to be an advisor and taking that really badly and just could be stuck on something that I soon realized I didn't want to do.
• 8:21
  Speaker 1: I think you're absolutely lucky that you had that exposure before you went into the bank and you could very quickly identify that the banking environment was more transactional.
• 8:31
  Speaker 1: Yeah, it's restricted.
• 8:33
  Speaker 1: You are somebody that's I've spoken to you off podcast very intelligent.
• 8:38
  Speaker 1: You need to be stimulated, um, and I think the bank environment in that role wouldn't be the right fit for somebody like you who likes to know the ins and outs of things, how it all works, how it all connects together, wasn't stimulating enough for you.
• 8:54
  Speaker 1: And I used to recruit into banks years ago and when bank assurance was a really big deal, so most people were in banks.
• 9:00
  Speaker 1: That's when we had 250,000 regulated advisors.
• 9:03
  Speaker 1: But most of them were in, were in the banking environment, and it was pressured.
• 9:07
  Speaker 1: It was, you know, sitting down with clients every single day because you had clients coming.
• 9:11
  Speaker 1: You know they never struggled to sit in front of a client, but it was like a conveyor belt, you know system, and it was the same thing over and over again.
• 9:17
  Speaker 1: So it's not overly stimulating or overly interesting, um, and it wasn't heavily client centric, whereas financial planning is, you, you know there's so much more to it.
• 9:28
  Speaker 1: There's so many more different avenues.
• 9:29
  Speaker 1: As you say, it's completely holistic.
• 9:31
  Speaker 1: So I can totally get that and what's beautiful about your journey as well, and I like what you said.
• 9:36
  Speaker 1: You said, look, sometimes you've got to try something.
• 9:38
  Speaker 1: It's not a failure.
• 9:39
  Speaker 1: It just means you're not.
• 9:40
  Speaker 1: You found the thing you don't want to do, so there's probably lots of people listening to this podcast now.
• 9:49
  Speaker 1: So they're in the role.
• 9:49
  Speaker 1: They know it's not what they want to do, so they could be somebody that's gone.
• 9:54
  Speaker 1: Oh no, I'm client facing.
• 9:55
  Speaker 1: I'm more interested in the research and the technical side, and vice versa.
• 9:58
  Speaker 1: So let's look at that transition, because being in front of clients has taught you something, isn't?
• 10:03
  Speaker 1: What's it taught you?
• 10:04
  Speaker 1: First of all, actually sitting in front of clients, and then it's taught you something.
• 10:08
  Speaker 1: You've then transitioned back into what you were originally doing.
• 10:11
  Speaker 1: What's that experience taught you?
• 10:14
  Speaker 2: I think it taught me, in a way, to see more from an advisor perspective as well.
• 10:19
  Speaker 2: I think sometimes maybe, if you don't have that exposure, you might lack some kind of like connection between a paraplanner and an advisor.
• 10:30
  Speaker 2: So I think that client facing actually improved me as a paraplanner as well, because, you know, I actually when I have a case and when I'm looking with the advisor, I'm not only thinking I feel as a with the advisor, I'm not only thinking I feel as a paraplanner, I'm also thinking as, but how the advisor, when sit down in front of the client, will present this, what questions the client could ask him when going through this material, like, is there any questions that might pop up?
• 10:59
  Speaker 2: And these are the things that I might always try to be aware of.
• 11:02
  Speaker 2: And then I feel, then I try to then create something for the advisors that it's complete and then when they see it from the client, they might feel very confident that they will have the answers that the client might question there, you know.
• 11:19
  Speaker 2: So I think for me is that it helped me be more like, feel more related to the advisor in a way.
• 11:27
  Speaker 2: So it yeah, for me it was, I see, as something that helped me improve as a part of Planner.
• 11:38
  Speaker 1: Yeah, definitely putting yourself into the position of the financial advisor always helps doing the job, so you also understand the pressures that they're under, why they want information to be, maybe perhaps delivered in a certain way.
• 11:48
  Speaker 1: You might, I guess, as well learn about the communication side of things, like sometimes power planners often would put an advisor on a pedestal or feel disconnected from the advisor, and I guess a relationship needs to be formed between the two because there is a personality attached to the report, for example, and I think a good power planner is somebody who understands the advisor and how that information should be articulated across.
• 12:13
  Speaker 1: And I always find as well, like my thoughts, good power planners talk to clients.
• 12:19
  Speaker 2: And that is the other thing is I actually joined quite a lot of client meetings.
• 12:23
  Speaker 2: So, yeah, not client facing, but I am.
• 12:26
  Speaker 2: So I do, like you know, as a paraplanner, I do work with a lot of different softwares and some of these softwares we present to the client the results.
• 12:38
  Speaker 2: So you know, there is a lot of advisors that ask me if I can join client meetings and present to them, and I do that all the time.
• 12:46
  Speaker 2: So, yeah, it's, it's not afraid of being in front of the client on any of that or having the client contact.
• 12:53
  Speaker 2: That, in a way, kind of doesn't bother me at all.
• 12:56
  Speaker 2: Um, but it's all.
• 12:58
  Speaker 2: It is actually enjoying the research, part of it, the calculation, the, the fine details, I think, of the technical detail, the technical detail of financial planning.
• 13:11
  Speaker 1: Yes, I, think it's a skill set as well to be able to present technical information in a way that's simple to understand.
• 13:19
  Speaker 1: Yeah, I think that's really, really important.
• 13:21
  Speaker 1: Financial planners are really good relationship builders, but they might not be great at presenting technical information.
• 13:29
  Speaker 1: And there's so many power planners that probably aren't sitting in client meetings and you sit down in front of a financial planner and there's a power planner in the room as well.
• 13:40
  Speaker 1: All of a sudden it feels like a team of people, doesn't it?
• 13:42
  Speaker 1: It feels like a little family office type thing.
• 13:43
  Speaker 1: So if you're a client paying your money for that financial advice and for the service that you're receiving, but hey, I'm your financial planner, yeah, and it's Paola, she's our researcher power planner and this is what she does on her part and you're going to present.
• 13:57
  Speaker 1: So all of a sudden I feel, wow, I've got a team of people around me that are looking after me and my finances.
• 14:01
  Speaker 1: I think it's a beautiful thing and it adds to that feeling and that connection with the client.
• 14:06
  Speaker 1: It makes me feel they've got a little family office type feel to it.
• 14:08
  Speaker 1: You know, a concierge service.
• 14:10
  Speaker 2: Yeah, and that is actually the things that we actually talk to the clients about.
• 14:16
  Speaker 2: We want to show them that they are not only dealing with a financial advisor, but they are dealing with a team, a team that has a technical side, which are the power planners, a team that is the administrator side.
• 14:29
  Speaker 2: So that is actually one of the things that we always talk to clients is, you know, you don't have one person that you can go to.
• 14:36
  Speaker 2: You have a team of people that look after you.
• 14:39
  Speaker 2: One of the things that I actually wanted to talk to you that you kind of mentioned was sometimes the simplicity, like, in a way, how you get something that is so technical and you explain to a client in more simple terms.
• 14:58
  Speaker 2: And I was thinking I actually was thinking about when I got invited to the podcast about my journey, to like, how did I get here?
• 15:08
  Speaker 2: And you know, there might be a lot of people watching these podcasts.
• 15:12
  Speaker 2: They are not English native speakers and I actually felt that this was a massive benefit for me, because my reports in a way it's simple, like I don't try to embezzle in a way, you know, with difficult words or any of that, and I always receive very great feedback about my reports are very simple, concise, full of content and really easy to read.
• 15:41
  Speaker 2: So you know, I actually feel like, please, if English is not your first language, do not be afraid that, oh, that job might not be for me, because you might be just the right person for the job.
• 15:53
  Speaker 1: Absolutely.
• 15:54
  Speaker 1: That's a skill, skill.
• 15:54
  Speaker 1: You've got the skills and everything.
• 15:56
  Speaker 1: But you know, being foreign or from another country shouldn't stop you from getting into financial planning, as you say, is clearly a benefit, because you are simplifying the information that the client's receiving because you don't want to over complicate it right now.
• 16:10
  Speaker 1: I think that's fabulous, um absolutely great point and a shining example your qualification wise.
• 16:16
  Speaker 1: I mean, you're really into your qualifications, aren't?
• 16:18
  Speaker 2: you?
• 16:18
  Speaker 2: I am yes, yeah, so you've not only done your master's.
• 16:21
  Speaker 1: You've done your.
• 16:21
  Speaker 1: Where are you now in your qualifications in respect?
• 16:23
  Speaker 2: yeah, so I've done my masters, then I did the level four qualification, um, and then I've.
• 16:29
  Speaker 2: Last year I finished my level six, so I got the advanced diploma and then, because I already had five years experience in the industry, I'm chartered.
• 16:38
  Speaker 2: So yeah, I'm three exams away to the top as one, which is uh, to become fellow but, I'll get there there you go.
• 16:46
  Speaker 1: That's fantastic achievement.
• 16:49
  Speaker 1: You should be super proud of yourself and a shining example as well, especially to women.
• 16:52
  Speaker 1: It's not enough women in the profession, is there?
• 16:54
  Speaker 2: no, it's not, um, you know, the profession is there?
• 16:56
  Speaker 2: No, there's not.
• 16:57
  Speaker 2: You know what?
• 16:57
  Speaker 2: And I think as forces and overs.
• 16:59
  Speaker 2: Well, this is something that we are trying to create awareness and bring more women to the company, because it's still a male-dominated industry.
• 17:09
  Speaker 2: From my perspective, I've never seen like that, I've never felt I'm a woman, I'm not going to find my place.
• 17:18
  Speaker 2: They're always the opposite, you know, but I know not everyone thinks the same.
• 17:23
  Speaker 2: You know, and not everyone, um, and that's why is that the things I said?
• 17:27
  Speaker 2: It's about as well, not being an um, english as your first language.
• 17:32
  Speaker 2: So, yeah, don't think it is because either it's a male-dominant industry or because English is your first language, or any other reasons that they're not the right industry for you.
• 17:44
  Speaker 2: Maybe it's the opposite.
• 17:46
  Speaker 2: Maybe we are trying to recruit more and more those people you know to become more an industry that is more equally not that is not the right yes you're an ambitious individual, that's clear.
• 18:04
  Speaker 1: So you decided that the banking side of things wasn't for you.
• 18:09
  Speaker 1: Join foster de novo.
• 18:10
  Speaker 1: Tell me a little bit about your career progression since joining foster de novo.
• 18:16
  Speaker 1: How long have you been here?
• 18:17
  Speaker 1: What's your journey been like to where you are today?
• 18:21
  Speaker 2: So it is a journey of growth, I have to say.
• 18:24
  Speaker 2: I joined Foster De Novo about five years ago now, in 2019.
• 18:28
  Speaker 2: After a year joining, I had my daughter, bella, who is now four years old.
• 18:37
  Speaker 1: My daughter is Isabella.
• 18:39
  Speaker 2: Oh, I didn't know that.
• 18:40
  Speaker 2: Yeah, so she's now four years old and you know a lot of people might think like, oh, after having a daughter, you know, you would probably come back and want to take it easy.
• 18:51
  Speaker 2: And for me it was the completely opposite.
• 18:53
  Speaker 2: I came back like all fried up and I'm like, ok, what is next?
• 18:54
  Speaker 2: For me it was the completely opposite.
• 18:55
  Speaker 2: I came back like all fried up and I'm like, okay, what is next for me?
• 18:58
  Speaker 2: You know, sat down with at the time my manager and said to her look, you need to help me, I want to go from A to B.
• 19:05
  Speaker 2: How do I go from A to B?
• 19:07
  Speaker 2: She sat down with me.
• 19:09
  Speaker 2: We made a plan and that's when I actually started doing my level six qualifications.
• 19:14
  Speaker 2: And you know, looking back now, I think I've done maybe six exams in a space of a year.
• 19:21
  Speaker 2: And yeah, it's just crazy thinking about because they are so challenging and difficult exams that you need to take your time to study and learn everything and all the calculations and all of that.
• 19:35
  Speaker 2: But yeah, I did it.
• 19:37
  Speaker 2: And then when I finished my exams that was the agreement with her as well I then got promoted to a chartered paraplanner.
• 19:51
  Speaker 2: But, as I said I'm ambitious and while I was doing my exams I was already thinking but what next?
• 19:58
  Speaker 2: Because I know I will get there and I will stay there for a while, but I need to start thinking about what next.
• 20:04
  Speaker 2: Because if I don't start thinking about what next, then what do I do?
• 20:09
  Speaker 2: Do I get stuck?
• 20:10
  Speaker 2: I'm not afraid of change, I'm not afraid of failure, like failing I'm okay with failing but I think I'm afraid of feeling stuck and feeling that you know there is no way to go.
• 20:26
  Speaker 2: So, yeah, so I finished my level six qualification already thinking what next and in a way, I I then think it.
• 20:36
  Speaker 2: I've thought about again should I then become an advisor?
• 20:40
  Speaker 2: You know like I, you question yourself again and I'm like you know what.
• 20:46
  Speaker 2: I made a decision five years ago, maybe four, at a time that I didn't want that and I actually don't, I actually don't, I actually don't.
• 20:54
  Speaker 2: So I said I actually think I want to try to pursue more like a leadership role, and then I start to specialize myself into that.
• 21:05
  Speaker 2: So I did an external course which was pretty much trying to find your one way to leader to leadership, way to leader, um to leadership, um, and yeah, and then this, of course.
• 21:23
  Speaker 2: Naturally, then I start having conversations with my manager about, you know, now I'm this, so I'm already thinking of maybe what next.
• 21:29
  Speaker 2: But yeah, you're always gonna get people there, you know, who are on the journey of growth and thinking about and are very, quite proactive themselves with what they want, and they don't want to wait too long for things to happen.
• 21:43
  Speaker 2: But in my view, it's all about honesty as well.
• 21:47
  Speaker 2: You know, in a way, when I started doing all of that, I was not expecting something to happen at that moment.
• 21:54
  Speaker 2: I knew that there was nothing in the team at the moment for me, so it was more me feeling comfortable with when, or prepared for when, a new position or position happened to be there for me.
• 22:09
  Speaker 2: I was, I felt prepared for that than anything else than anything else?
• 22:15
  Speaker 1: Is there a thirst for knowledge or a desire for ambition, prestige from a job title, money?
• 22:26
  Speaker 1: What is it that drives you?
• 22:29
  Speaker 2: Because you're a driven person you say you want more, right, do you get bored easily?
• 22:39
  Speaker 2: What is it that's driving you forward?
• 22:40
  Speaker 2: It's definitely no money.
• 22:41
  Speaker 2: Um, I think money can be a motivator, just for a short period of time.
• 22:43
  Speaker 2: Um, I think if you only chase, I think money comes when you're chasing other things, uh, sometimes, but I don't think money is what I chase for.
• 22:55
  Speaker 2: I just think money probably comes naturally.
• 22:58
  Speaker 2: When I wanted to develop myself, to do more or to get better thirst for knowledge, like definitely I.
• 23:07
  Speaker 2: For me, knowledge is power.
• 23:09
  Speaker 2: Um, I try to always learn more and I try nowadays this with my team as well.
• 23:16
  Speaker 2: I feel, from a team perspective, developing a team is a two-way thing.
• 23:23
  Speaker 2: You cannot develop someone that doesn't want to be developed.
• 23:25
  Speaker 2: But I encourage that, like this is something that I, yeah, I think you want to be better at your job.
• 23:33
  Speaker 2: Just learn more about your job.
• 23:35
  Speaker 2: Learn more about, just learn more about your job.
• 23:36
  Speaker 2: Learn more about the company, learn more about what we do as a team, what we do as a company.
• 23:43
  Speaker 1: So, yeah, definitely You've definitely got that need to achieve, not that need to avoid failure kind of mentality.
• 23:51
  Speaker 1: You don't fear failure when you try things because, for you, trying things is indication of knowledge, it's indication of whether or not it's the right pathway, or, um, it's confirmation, isn't it?
• 24:06
  Speaker 2: yeah, I think sometimes we we see failing as something negative.
• 24:11
  Speaker 2: Right, maybe it's very associated to something that is quite negative, and I don't't, maybe I don't see it like that.
• 24:18
  Speaker 2: I see it as an opportunity to learn and to get better and to improve.
• 24:23
  Speaker 2: And yeah, I said that in the past.
• 24:26
  Speaker 2: You know, sometimes you should be annoyed, maybe frustrated, if you actually don't be given the opportunity to fail Right, because how are you going to get better if you actually don't be given the opportunity to fail right?
• 24:41
  Speaker 2: Because how you're going to get better if you, if you don't?
• 24:43
  Speaker 2: So, yeah, so a lot of people don't want to fail.
• 24:44
  Speaker 1: I'd actually, I actually don't mind, I actually think it's a good thing so let's look at that, because lots of people sit in roles and they kind of fester a little bit and hope that it's going to get better when, deep down inside, they're and they're unhappy.
• 24:55
  Speaker 1: Now we could look at that being do you think it's going to get better when, deep down inside, they're unhappy?
• 24:57
  Speaker 1: Now we could look at that being do you think it's the environment that people are in?
• 25:00
  Speaker 1: Do you think it's the person that's managing them, or the leader or the direction of the business?
• 25:06
  Speaker 1: Let's kind of look at it because, if we take it from a Foster-Danovic perspective, what's your manager been like?
• 25:14
  Speaker 1: What are the leaders like within your business and what's the environment like?
• 25:18
  Speaker 1: Has it been one for somebody like you that has ambition and a growth mindset?
• 25:25
  Speaker 2: Tell us a little bit about that.
• 25:25
  Speaker 2: I think you know, as Fosse de Novo now, it is a growing business, but if you as an individual, you don't want to pursue growth, then you're not going to achieve growth.
• 25:39
  Speaker 2: I don't think it is just.
• 25:41
  Speaker 2: I think it needs to be a combination of things.
• 25:44
  Speaker 2: You know, I feel, for example, as a manager today as well, is my reports cannot just come to me and say, oh, I'm not growing, I'm not developing because of you, or I'm not growing, I'm not developing because of you, or I'm not growing, I'm not developing because of the environment.
• 25:59
  Speaker 2: I think it's a combination.
• 26:00
  Speaker 2: I think it is a manager of the environment and the individual all together.
• 26:05
  Speaker 2: So what do I mean by that?
• 26:07
  Speaker 2: I feel is your environment could be an environment that, yeah, it is there to help you grow.
• 26:18
  Speaker 2: You as an individual want to want that grow and your manager needs to support that.
• 26:24
  Speaker 2: In a way, everything kind of needs to align for you to grow, to different jobs, maybe different teams, maybe different departments within the company.
• 26:37
  Speaker 2: And I feel, if you're saying, oh, yeah, I don't grow just because of my manager, or I don't grow just because the environment, like, yeah, but you as an individual, you need to pursue and you need to want that as well.
• 26:52
  Speaker 2: If you don't, I think you may even create the environment that you want.
• 26:57
  Speaker 2: You know you might.
• 26:58
  Speaker 2: You might sit down with the manager and you ask for the support.
• 27:02
  Speaker 2: So I think it is more down to, maybe, the individual than anything else, and maybe then, if you as an individual have done everything that you thought you should have and nothing is happening, then it's time to look outside.
• 27:19
  Speaker 2: Exactly yeah.
• 27:21
  Speaker 1: Don't suffer.
• 27:22
  Speaker 1: Yeah, I think a lot of people worry about like oh no, it's going to look really bad on my CV if I look like I'm jumping around In this day and age.
• 27:28
  Speaker 1: It's not a problem.
• 27:29
  Speaker 1: It's not a problem.
• 27:30
  Speaker 1: In fact, a lot of companies will look at somebody who's got experience in multiple businesses as being a benefit you know different types of roles as being the benefits.
• 27:40
  Speaker 1: Keep telling people like move around, move around.
• 27:42
  Speaker 1: I know I come from a recruitment background, but moving around, even within a business, within the ecosystem of the business, is a good thing for your own personal development and growth, because you get to see the business from outside of the blinkered view that you have within a position and there's always been this kind of put you in a box.
• 27:57
  Speaker 1: You're a power planner, you're an administrator, you're a partner, you know you're in compliance and that's it.
• 28:01
  Speaker 1: What I did learn about Foster De Novo is that kind of culture of sharing, the culture of like come into my little hub over here and learn what we're doing today and then you might go into another hub the next day and learn about what they're doing and you're developing your skills through connection and communication in this wonderful office in, you know, in central, in central london, you're right there, though I think it's down to the individual.
• 28:23
  Speaker 1: I mean, you know deep down inside whether or not you are doing everything that you can within the environment that you're in to push forward.
• 28:31
  Speaker 1: If it's not happening, it's time to move or it's time to talk to somebody.
• 28:36
  Speaker 1: If you haven't talked to somebody, go and talk to them yeah explain exactly what it is that you want from your career.
• 28:42
  Speaker 1: Outline it, because not all companies are like foster de novo.
• 28:47
  Speaker 1: Right, foster de novo have an amazing career development plan.
• 28:50
  Speaker 1: I bleat on about it all the time.
• 28:51
  Speaker 1: It's one of the best I've seen, because I know it's one of the best I've seen because everybody keeps moving around and developing themselves.
• 28:57
  Speaker 1: You know, since you've been here, how many opportunities of development have you had?
• 29:01
  Speaker 1: Has it been vast?
• 29:03
  Speaker 2: yeah, so joining five years ago, I joined as a paraplanner, then moved to senior paraplanner, charter paraplanner and now I'm a practice lead.
• 29:12
  Speaker 2: So yeah, so throughout these five years you could see like a progress into four different roles.
• 29:19
  Speaker 2: So the opportunity is there, um, but you know, in a way I didn't sit down and wait.
• 29:26
  Speaker 2: No, you made it happen.
• 29:28
  Speaker 1: Yeah yeah, and that's the advice of people, isn't it like?
• 29:30
  Speaker 1: Just don't sit on your hands, don't, don't point your fingers and blame other people.
• 29:33
  Speaker 1: Um, go and stand in front of the mirror and ask yourself have you done everything that you possibly can in this job role?
• 29:38
  Speaker 1: And if you haven't, get out there and look around a little bit, speak to a few people, listen to some podcasts like this and hear about opportunities in other companies?
• 29:46
  Speaker 1: Maybe it is the environment, maybe it is the leader, um, but it's down to you to make the move, isn't it?
• 29:51
  Speaker 1: And take things and push things forward and do it with confidence and courage.
• 29:56
  Speaker 2: Yeah, and I'm not saying that you need to know what you want to do as well.
• 29:59
  Speaker 2: You know, as a leader, I would love someone in my team to come and say Paola, I'm lost.
• 30:05
  Speaker 2: You know, can you help me?
• 30:07
  Speaker 2: Like, what do you think would be the right move?
• 30:08
  Speaker 2: I think, as you said, go and talk.
• 30:15
  Speaker 2: I'm not asking anyone to come to me with a created plan well, you know exactly what to do next but I kind of need to know that they want to do something.
• 30:21
  Speaker 2: Um, and then, yeah, I'm there.
• 30:24
  Speaker 1: I'm there for them you're an approachable leader, then are you.
• 30:27
  Speaker 1: I am yes.
• 30:28
  Speaker 2: I'm all about people and caring about them and you know, I think being open and honest and caring it's it's at least the least you could do for your team, right?
• 30:40
  Speaker 2: Yeah?
• 30:41
  Speaker 1: I think that's one of the traits that I've always seen in good managers are managers that can identify blockages in people.
• 30:48
  Speaker 1: Where they are unhappy, can they be resolved.
• 30:52
  Speaker 1: Let's get to the root cause of that problem as quickly as we can within the work environment.
• 30:56
  Speaker 1: Some of these things might be personal things.
• 30:58
  Speaker 1: Right, I used to have it in my business and when I owned a recruitment company, you'd get a lot of people with mental health problems, for instance, but I wasn't a mental health professional.
• 31:05
  Speaker 1: But I certainly built like a employee benefits package where I could then listen to what was going on in their lives.
• 31:12
  Speaker 1: If it was money, if it was their own personal mental health, it could be drinking or it could be lack of fitness, whatever it is but I was able to signpost them to the right places and I'd rather they come to me and tell me what's going on, because it was easier for me to then help them solve that problem, which in turn is going to help them in the business get ahead, because they're going to feel more relaxed and comfortable when they come to work.
• 31:31
  Speaker 1: But I can't solve their problems they.
• 31:33
  Speaker 1: I have to.
• 31:33
  Speaker 1: I have to point them in the right, in the right direction.
• 31:36
  Speaker 1: To do it.
• 31:36
  Speaker 1: I always think that's what a great manager does.
• 31:37
  Speaker 1: Can you just give us a bit of an overview what you're doing right now, then?
• 31:40
  Speaker 1: What is your job role?
• 31:41
  Speaker 1: So power planning, and then you moved into management.
• 31:43
  Speaker 1: Talk to us about that role.
• 31:45
  Speaker 1: What's your day-to-day duties?
• 31:47
  Speaker 2: oh, that's fast.
• 31:50
  Speaker 2: No, so like in a nutshell maybe, what a practice lead do?
• 31:56
  Speaker 2: Is you lead the people in the team, so in a way, I'm responsible for the people.
• 32:02
  Speaker 2: So the training and development, yeah, like finding out what is not working for them, what is working for them so, yeah, it's all about them and how they are feeling and how we can create a better environment.
• 32:18
  Speaker 2: For me, as a practice link, looking after them is trying to create the team spirit, the team that people like to work with each other.
• 32:29
  Speaker 2: They can trust each other, they respect each other.
• 32:32
  Speaker 2: They respect each other.
• 32:33
  Speaker 2: Um, yeah, if I get that sense from you know you want to come to work and you like the people that you work with, then I'm doing a great job.
• 32:42
  Speaker 2: Individually is then trying to find out what each one of them individually want to do and then try to help them achieve that.
• 32:52
  Speaker 2: Short term, long term it depends what what the ambitions what types of roles then are in your practice?
• 32:59
  Speaker 1: because, just for people listening, you know foster de novo have partners.
• 33:03
  Speaker 1: They're financial planners.
• 33:04
  Speaker 1: Those partners are self-employed mainly, and then foster de novo will administer power planning, administration and they build practices within foster de novo's ecosystem.
• 33:17
  Speaker 1: Essentially right.
• 33:18
  Speaker 1: So, as a practice manager, who's in your team?
• 33:23
  Speaker 1: So if someone was porting into you, who are they?
• 33:25
  Speaker 1: What do they do?
• 33:27
  Speaker 2: so we are like one of the practices within the company.
• 33:34
  Speaker 2: So we have a practice manager and I'm the practice lead.
• 33:39
  Speaker 2: So Steph the practice manager, she will deal with all the process, all the MI, and then with me as a practice lead is all the people.
• 33:49
  Speaker 2: So I have a team of administrators that looked after the advisors and then a team of paraplanners.
• 33:58
  Speaker 2: Then we will do all the technical side and then each team has a team leader that helps like do like the weekly checking and all of that.
• 34:09
  Speaker 2: So in a way, you kind of like have me, me, you have the team leaders and then you have the, the team, the administrators and the para planners.
• 34:19
  Speaker 2: Does it make sense?
• 34:20
  Speaker 1: makes perfect sense to me.
• 34:21
  Speaker 1: Yeah, I think it's really great.
• 34:23
  Speaker 1: I think, like having a people person within that as well is it's really really important.
• 34:26
  Speaker 1: It reminded me a little bit when I spoke to helena, because, um, obviously, helena deals with the acquisitions and she deals with the recruitment and she sits down with financial planners from the very day they walk through the door and sit there and go through the reasons why they're looking to maybe go self-employed or why they're looking to change business, and she goes along on the journey with them all the way through, makes them comfortable, makes them connect with people like like you, and do we need to wrap a support team around you?
• 34:58
  Speaker 1: Do we need to help you with lead generation and all those typical types of thing.
• 35:01
  Speaker 1: And I think it's important that you don't just bring somebody into your business and just go there.
• 35:05
  Speaker 1: You go, I'm gonna dump you there and get on with it.
• 35:08
  Speaker 1: And if you want to talk to anybody, you can talk to the guy who runs the business.
• 35:12
  Speaker 1: I mean, that's so intimidating, isn't it?
• 35:15
  Speaker 1: Having somebody in the business.
• 35:17
  Speaker 1: That's in the team that you can turn to, and their job is to recognize people Like where can I help this person?
• 35:23
  Speaker 1: Where might they be struggling?
• 35:25
  Speaker 1: Are they confiding in me?
• 35:28
  Speaker 1: Can we get over some problems?
• 35:29
  Speaker 1: Can we help them with their career journey?
• 35:31
  Speaker 1: Can I look at areas where I can show and give examples of what I'm doing to motivate them?
• 35:35
  Speaker 1: Are they in the right place?
• 35:37
  Speaker 1: Are they doing the right job?
• 35:38
  Speaker 1: Are they happy?
• 35:39
  Speaker 1: I think that's super important.
• 35:41
  Speaker 1: So having a people role like that is amazing, and it's the type of role really that, if you're good at it, it's going to propel you forward in your career as well, because running a business is all about people.
• 35:56
  Speaker 2: You know as well, because running a business is all about people.
• 35:57
  Speaker 2: You know it is all about people.
• 35:58
  Speaker 2: Yeah, I think if you think about your best travels, your best trips, your best night outs, you're not probably not going to remember where maybe it was about albania, maybe was uk.
• 36:06
  Speaker 2: You're going to remember the people you were with right.
• 36:09
  Speaker 2: So for me, it's all about the people.
• 36:12
  Speaker 2: It's about caring about them, make sure that they are in the right place, happy with what they're doing.
• 36:20
  Speaker 2: If they're struggling, someone is listening to them and helping them get through.
• 36:25
  Speaker 2: So, yeah, and I do hope it helps me to make the next move.
• 36:32
  Speaker 1: Well, let's talk about that because you are ambitious, aren't you?
• 36:35
  Speaker 1: I am, you must be thinking about your future.
• 36:39
  Speaker 1: So and I love it, and this is the thing again with Foster De Novo I've sat down with people and they are future thinkers.
• 36:45
  Speaker 1: They're thinking about their next step and I think, with the crest line investment here at Foster De Novo and the ambition that the company has, they're not slowing down.
• 36:58
  Speaker 2: So there's opportunity.
• 36:59
  Speaker 1: So there's opportunity within, and an ambitious individual like you must be stimulated by that.
• 37:04
  Speaker 1: So what's next?
• 37:05
  Speaker 1: Where can you see yourself going?
• 37:08
  Speaker 2: You know, as you said, the company is growing and there will definitely be opportunities um for me, I think, to get more and more involved um within the business.
• 37:17
  Speaker 2: So, yeah, I don't want to give myself any new titles, but who knows?
• 37:22
  Speaker 1: do you think you would ever step away from like the client side and move more into the internal project management where you're kind of talking with one department to another, or maybe move more into partnerships externally outside of the business and developing relationships that way and the the way that certain types of introducers might work, or tech companies or whatever it might well be the employee benefits side feeding into financial planning side?
• 37:50
  Speaker 1: Do you see yourself on a wider scale dealing with different stakeholders or do you see yourself more in the financial planning lane?
• 37:59
  Speaker 2: I still I still see myself in the financial planning lane in a way, um, maybe more, maybe more in the technical team in a way.
• 38:09
  Speaker 2: I do feel, by having this experience in the past with client facing, all of that, I'm a very good fit to kind of like be dealing with the technical side and give them that you know perspective from an advisor, like that advisor perspective.
• 38:33
  Speaker 2: So I don't know, I'm big in training and development so I feel it's I can help people grow in this in a way.
• 38:44
  Speaker 2: So I still don't know my next move.
• 38:47
  Speaker 2: That's why it's difficult.
• 38:48
  Speaker 2: Yeah, like that's okay, you don't have to like.
• 38:51
  Speaker 1: No, yeah, you don't have to have that you, because at the moment you probably don't.
• 38:55
  Speaker 1: You're not thinking about it because you're learning so much and you know you're now a people manager, which you weren't, so there's a lot to learn in that respect, and sometimes you don't want to run before you can walk.
• 39:05
  Speaker 2: There's so much to learn isn't there?
• 39:07
  Speaker 2: And if we spend our time constantly thinking about the next thing all the time, are we truly fulfilled?
• 39:18
  Speaker 2: Yeah, exactly so.
• 39:18
  Speaker 2: It's not that I'm not thinking about.
• 39:19
  Speaker 2: I'm always thinking about, in a way like I think, yeah, here, there in my mind, I'm kind of like you know why I'm learning, why I'm learning more about the company, why I'm having more exposure to other people in the business.
• 39:31
  Speaker 2: I'm'm always listening, I'm always thinking, but yeah, I think my focus at the moment is learning and getting better in what I'm currently doing.
• 39:40
  Speaker 2: To then say, first, is that what I want to do long term?
• 39:46
  Speaker 2: Second is yeah, if that is what I want to do, then what next?
• 39:52
  Speaker 1: When new people come into the business or maybe they're early on in their career and it might be at any point in their career we often look at the person who's in a leadership position.
• 40:00
  Speaker 1: I think they've.
• 40:00
  Speaker 1: They've got it really good and they've got it all together.
• 40:03
  Speaker 1: They're switched on.
• 40:04
  Speaker 1: Do you ever have any self-doubt or anything like that?
• 40:08
  Speaker 2: so of course, um, but you know, before coming here today I actually bumped into Helen in the corridor and we were actually talking about self-doubt and she made me reflect.
• 40:22
  Speaker 2: I actually don't think it's self-doubt, I think it's more self-reflection in a way.
• 40:28
  Speaker 2: I think I'm aware, I'm kind of like aware sometimes if I need to improve, or I'm aware that you know what I might need a little bit of feedback just to see if I'm actually doing.
• 40:41
  Speaker 2: People are like having the same, like viewing the same way I am, or if they have a different perspective.
• 40:50
  Speaker 2: So I think maybe I don't doubt myself as much of course I do sometimes but I think I kind of reflect a lot and that's because I'm aware and I wanted to continue to improve.
• 41:03
  Speaker 2: So I think I try then to kind of surrender, like be surrounded with people that you kind of give me, that tell me the truth, because I'm not.
• 41:15
  Speaker 2: Yeah, when I say, surround my with myself, with people that will tell me the truth is, I don't want to listen sometimes.
• 41:23
  Speaker 2: Oh, you're doing everything, right I want to hear paulo, you're doing great, but you, you know ABC, you could be doing better, or that kind of like you know open communication, that, yeah, I'm not afraid of feedback.
• 41:40
  Speaker 2: I actually don't say negative feedback, I say constructive feedback, because everyone should be hearing feedback, getting feedback from other people, just to see yeah, are you in the right path?
• 41:51
  Speaker 2: Do you need to make any adjustments?
• 41:52
  Speaker 2: Yeah, are you in the right path?
• 41:56
  Speaker 2: Do you need to make any adjustments?
• 41:57
  Speaker 2: Yeah, so maybe it's more self-reflection than self-doubt.
• 41:58
  Speaker 1: I love it.
• 41:58
  Speaker 1: I'm a big self-reflector.
• 42:00
  Speaker 1: I always get the mirror out and have a good look like to inventory my thoughts and look at what are they?
• 42:05
  Speaker 1: Why is it affecting me?
• 42:06
  Speaker 1: What part of myself is it affecting, you know?
• 42:08
  Speaker 1: Is it?
• 42:08
  Speaker 1: Is it triggering me around money?
• 42:10
  Speaker 1: Is it triggering me around my security instincts, my relationships?
• 42:14
  Speaker 1: You know?
• 42:15
  Speaker 1: Am I worried about what people are thinking what?
• 42:16
  Speaker 1: What particular reason is that?
• 42:18
  Speaker 1: You know it's.
• 42:18
  Speaker 1: I love.
• 42:19
  Speaker 1: I love self-reflection.
• 42:20
  Speaker 1: I think it's one of the best projects you can work on is yourself and for people listening.
• 42:24
  Speaker 1: Right now, helen is the ceo of the business, right, yes, so you stopped her in the hallway, you've had a good chat and she's giving you a pep talk and you're talking about self-reflection.
• 42:32
  Speaker 1: Another female in the business in a leadership role.
• 42:35
  Speaker 1: One thing again.
• 42:36
  Speaker 1: I'm looking at Foster De Novo.
• 42:38
  Speaker 1: There's a lot of women in leadership positions, and that's fantastic because it's going to give you a good balance, isn't it?
• 42:43
  Speaker 1: So you can talk to guys, but there are women there as well in leadership roles, pushing forward, and I think it's inspiring to the next generation of women that are coming through into financial planning, and Foster de Novo, again, are a company that are absolutely leading the way in respect of that.
• 42:56
  Speaker 1: I love to see it.
• 42:58
  Speaker 1: I love to see it.
• 42:58
  Speaker 2: Yeah, currently our workforce is pretty much split 50-50, female and male.
• 43:04
  Speaker 2: About leadership roles, I don't know exactly, but about workforce, we are actually 50% male and 50% female.
• 43:12
  Speaker 2: So you can see that that is.
• 43:14
  Speaker 1: That's really good.
• 43:15
  Speaker 1: Yeah yeah.
• 43:16
  Speaker 1: Interesting stat.
• 43:17
  Speaker 1: I think it's one in 16 leaders within financial planning are women.
• 43:21
  Speaker 1: One in 16.
• 43:22
  Speaker 2: We are changing that, you are changing it.
• 43:24
  Speaker 1: I'll tell you what.
• 43:25
  Speaker 1: You've got great things ahead of you and it's been really enjoyable talking to you, and it just shows hopefully, anybody watching or listening to this podcast that if you put your mind to something and you push yourself into uncomfortable positions, it doesn't matter if it's not the right path.
• 43:43
  Speaker 1: It will eventually lead you to the right path and that variety is the spice of life.
• 43:48
  Speaker 1: And to get stuck in because you've done exactly that in the right environment.
• 43:54
  Speaker 1: So thank you so much for telling us about your career journey here at foster de novo.
• 43:56
  Speaker 1: Get stuck in because you've done exactly that in the right environment.
• 43:58
  Speaker 1: So thank you so much for telling us about your career journey here at Foster De Novo and we wish you all the best.
• 44:00
  Speaker 1: Thank you for your time, thanks.