Advice and services offered

We are a specialist financial planning practice, focusing on providing advice to clients who have or are considering retirement. We have a number of other professionals in our circle who we are happy collaborating with to get the best outcome for our clients.

Current challenges

It depends on which day you ask! Generally speaking, the main challenge at the moment is bedding down many of the changes (mainly process and systems), so we can advise our clients, and run our business efficiently and effectively.

Involvement within FP sector 

I’ve been involved in the FP community for about 20 years in various ways. I was a member of the FPA Melbourne Chapter Committee for many years, sat on some FPA Committees, and have been a judge for various awards in our profession. I was also on an Advisory Council for a large Licensee (prior to becoming self-licensed) and am currently involved in a financial planning working group with CPA Australia.

My proudest and most rewarding experience however was as a board member for Future2 Foundation, the Foundation of the FPA.

More importantly the fun stuff…

You would never know it but

From my mid 40s I took up running and completed about 6 half marathons. In my 50s I started hiking and climbing mountains. The tallest, and first mountain climbed was Mt Kilimanjaro in Tanzania. There is nothing like a challenge to prove to yourself that nothing is off limits.

The fork in the road I almost took was

To become a psychologist! I was very keen on studying psychology as a school leaver but ended up studying accounting. I was working in one of the big four banks and reckoned that if I was to become CEO one day (ambition was greater than talent) I would need a relevant degree. Interestingly, one of the core subjects in the degree was Psychology 101 because the thinking was, accountants needed to be able to relate to people, as well as numbers. Anyway, as fate would have it, my bank experience, CPA program and love of people led me to financial planning.

I always

Love a challenge. Whether it’s running a weird distance, climbing a very tall mountain, or knitting challenging and elaborate shawls, I usually say ‘yes’ first, then think about how I’m going to do it later.

I never

Sing a song in tune or sing the correct words, but it doesn’t stop me from trying.

The happiest moment in my life was

In my mid-20s my husband was posted to New York as a foreign exchange trader. We were child-free, living in midtown Manhattan as expats. At Christmas time one year, we had dinner in a fancy restaurant, saw Phantom of the Opera on Broadway and walked home in a light powdery snow. It was the best.

My secret guilty pleasure is

Belting out a power ballad when no-one is around.

Advice and services offered

We are a full-service practice with a focus on strategy and relationship and tend to have a high net worth bias.

We have a small client base and deal with many family groups.

Current challenges

Compliance and record keeping seem to be the two key areas that take up so much of our time.

Involvement within FP sector 

President of the Boutique Financial Planning Principals Association Inc since 2019
Represent BFP on Joint Associations Working Group (JAWG)
Represent BFP on the Licensee Leadership Forum
Member of FPA’s Policy and Regulations Committee 2022 – current
FPA Congress 2019; Presenter “Being self-licensed”
Presenter for FPA Women in Finance series 2020
Presenter at FPA Masterclass: How to run an ethical advice practice and still make a profit 2021
Advisory Panel for Professional Planner 2020 – current
Member ASIC Financial Adviser Consultative Panel 2001 – current

More importantly the fun stuff…

You would never know it but

I have always said you can do anything if you try ….so I proved this to my children and sang (in Latin), to a paying audience, at the Sydney Opera house. Oh, I was part of a choir so not a solo!

The fork in the road I almost took was

My plan on coming to Australia was to drive from Brisbane to Perth and then fly off to London …. however I obtained a great role in Perth in the Money Market at BA Australia (Bank of America) and l loved the environment so stayed and then moved to Sydney with them, before coming to Melbourne.

I always

Enjoy travelling – no matter where, how far, or by which mode.

I never

Seem to get to see a whole series on Netflix.

The happiest moment in my life was

Spending time with friends from around the world

My secret guilty pleasure is

Eating freshly shucked oysters at the market on a Sat morning followed by a latte at my favorite Spanish store.

Advice and services offered

We like to focus on strategic advice, however as a natural progression this evolves into a broad range of advice.

Current challenges

I would say the Fee Consent Forms and the quality of service being received from the Platforms. Quite frustrating with everything thrown back on us.

Involvement within FP sector 

I like the FPA Lunches.

More importantly the fun stuff…

You would never know it but

I am frustrated Rugby Coach and Guitar player

The fork in the road I almost took was

When I left School Teaching in 1988 to join AMP.  The teaching route was the easy, comfortable and secure one.

I always

Watch my kids play sports.

I never

Can so no to my daughter

The happiest moment in my life was

Playing cricket in England and travelling through Europe.

My secret guilty pleasure is

Chocolate and nice wines.  Not necessarily mutually exclusive. Settle in to watch a rerun of Jerry Maguire whenever possible.

Advice and services offered

We are a full service practice and tend to have a high net worth bias in our client base.

Current challenges

Running an AFSL and all the associated red tape around giving advice. Finding the right balance of working on the business and in the business.

Involvement within FP sector 

Member of the FPA. Previously involved with writing and marking CFP assignments.

More importantly the fun stuff…

You would never know it but

I am completely galeophobic and have been since watching Jaws when I was 11 years old.

The fork in the road I almost took was

A move to Adelaide to further a career in the wool industry. I love the Barossa and dealing with farmers so would have been great fun.

I always

Take more than 4 weeks holiday each year. I figure its part of my role to model good behaviours to my clients

I never

Run around with a pen in my mouth

The happiest moment in my life was

Buying an old yacht with 3 friends last year. Apparently my 2^nd happiest moment is still to come.

My secret guilty pleasure is

Spending 5 minutes to eat one Tim Tam.

Advice and services offered

Generalist practice covering most aspects of Financial Advice; Super, Insurance, investments, mortgage broking, aged care etc .

Current challenges

Pointless red tape

Involvement within FP sector 

Have been on the BFP executive for many years before stepping down to take other industry roles

I continue to lecture in Financial Planning at Flinders University

I am a statutory member of the NSW Advisory Council For Ageing (MACA)

I am published in Microfinance (DBA Dissertation)

More importantly the fun stuff…

You would never know it but

I still play hockey at my aged group for NSW and will compete at the World Cup in   Japan in Oct 2022 for the Southern Cross National Team.

The fork in the road I almost took was

Staying in the UK I emigrated in Dec 1987 with two suitcases and a dream.

I always

Stay positive and personally accountable for the decisions and choices I make daily.

I never

Give up currently doing a law degree.

The happiest moment in my life was

Many mostly around family and seeing clients really progress in life.

My secret guilty pleasure is

Really poor guitarist (I play guitar in my office).

Advice and services offered

Strategic advice focus – we spend a lot of time on structures, ownership, estate planning as if we get this bit right things are a lot easier down the track.  We have a few huge clients that can be a challenge in themselves, but we serve as a sounding board to them on some of the investment opportunities they are offered from their networks.

Current challenges

I have hardly been in my practice over the last three and a half years and if it wasn’t for my team, we wouldn’t still be in business.  Now I face one about to retire and one staff member that has left so I need to work out what I need and find some new talent.

Then there is the technology challenge as I know I can improve the business, but I need to work out how.

Involvement within FP sector 

On the day I am completing this, I stepped down as the Chair of the Financial Planning Association after almost 8 years on the board.  I have been an FPA member since its inception and was a member of the two bodies that formed the FPA.  I have held many roles from organising conferences, being a chapter chair, member of the Education Committee that first recommended degree qualifications for financial planners (in 1994) and more.

On top of this I have contributed to reference books, written textbooks, lectured at all levels of financial planning and tried to advocate how great our profession is at every opportunities.

More importantly the fun stuff…

Dannii Minogue was my flat mate in my young single days so I was dragged along to many parties, film sets and overseas trips with her – which opened my eyes to a whole new world.  Many a ‘famous’ person camped on our lounge to escape the media and to this day still stay in touch.  A group of these people have now formed one of the book clubs I am in and it is indeed an interesting perspective when they read something as they instantly work out how to make it into a film or a play whereas I see the commercial reality of the project.

You would never know it but

Goodness I am an open book – I think most people know all there is about me within 5 minutes of meeting me (and I have an opinion on everything)

The fork in the road I almost took was

Wanted to enter politics and at school wanted to be the first female Prime Minister of Australia. This was until I learned how little they earned for the work they did. Now after spending some time with politicians, I am somewhat jaded about their conflict of the noble cause vs the self interest.

I always

Wanted to enter politics and at school wanted to be the first female Prime Minister of Australia. This was until I learned how little they earned for the work they did. Now after spending some time with politicians, I am somewhat jaded about their conflict of the noble cause vs the self interest

I never

Expected to be FPA Chair – when I ran to be elected to the Board, it was to give back to my profession that I am so very proud of (thank you to Tony Gillett for nominating me and so many of you for voting for me twice).  I am not sure how I ended up as Chair, but I did my best to respect your trust in me to represent you.

The happiest moment in my life was

Given I can’t say my kids, it has to be the appreciation I have every day about how lucky I am. I am surrounded by fabulous friends and family, I work in a job I love and I have a fabulous professional community around me.  I live near the harbour in Sydney so see the bridge every morning when I get up.  Life is pretty good. I know luck is a result of hard work but it doesn’t feel hard when you are surrounded by good people.

My secret guilty pleasure is

Binge watching a whole series on a streaming service in my PJs on the weekend -and given I haven’t had many weekends over recent years I am looking forward to a bit more time to do this.

Advice and services offered

Most of our time is spent helping people retire and manage their affairs post retirement.

Current challenges

Succession – whilst I love what I do and plan to be around for a while yet, succession opportunities are scarce in regional areas.

Involvement within FP sector 

nil

More importantly the fun stuff…

You would never know it but

I used to play the harmonica in a blues rock band. I represented SA in National Volleyball championships as a junior.

The fork in the road I almost took was

I wanted to be a marine biologist when I left school – however the SA Universities did not offer that degree in those days, so I dropped out of a general Science Degree and joined a Bank before then joining AMP when I was 21

I always

Mow my lawn twice, the second time perpendicular to the first. (For some reason I can’t get my Kids to do the same when they help me…)

I never

Read print newspapers, preferring ABC radio news soundbites and online Fin Review

The happiest moment in my life was

Winning a volleyball Grandfinal in the same team as both my Children.

The first time I successfully got up on water ski’s

My secret guilty pleasure is

Spending time in my garden, especially shaping hedges/topiary. Oh, and chocolate.

Advice and services offered

Although a far more mature business now than 20 something years ago, our service offering is fairly consistent with others – personal and technical financial planning guidance, portfolio management and life insurance services.

Current challenges

On balance, having all our advisers complete the Ethics based University subject as well as the FASEA Exam was a positive one for our firm. It was a collaborative and shared learning experience for our planning team, that while throwing up its challenges, allowed all of our planners to spend time accumulating a deeper understanding of the regulatory regime and the application of ethics within it. Unexpectedly, this is an enormous outcome for licence holders (me) as a greater awareness of the business compliance burden becomes shared among the team.
More immediate challenges…how do the Kangas find those early season wins that will ensure that they are able to remain in contention in the back half of the season??

Involvement within FP sector 

Have pared back my industry contribution in recent years but still remain connected to the tertiary sector by sitting on a few course Advisory Committees. Further to this, I remain an AFCA panel representative.

More importantly the fun stuff…

You would never know it but

I taught myself how to swim about 5 years ago (could barely swim a lap of a 50m pool), obtained my Surf Life Saving Bronze Medallion and now patrol regularly with the Wye River SLSC.

The fork in the road I almost took was

I was 29 years old, working in Corporate Melbourne and was promised what would have been a substantial career in a listed entity and was loving it. Without a family or mortgage at the time (living in a share house in North Fitzroy) I chose to commence a financial planning firm. Didn’t sleep for the first 6 months but have never regretted the decision or looked back.

I always

Put my left batting pad on first.

I never

Miss out on at least one day out at Flemington during the Spring Carnival.

The happiest moment in my life was

Backpacking through India for 6 weeks with a best mate, Matt. Words cannot fully describe the impact that the sights, sounds, beauty, despair, challenges and euphoria would have on the then 20 something aspiring professional in financial services. I have since been back to India on numerous occasions, but Matt and I still fondly reminisce about so many aspects of that first sub continental adventure.

My secret guilty pleasure is

That I purchased a grand piano a few years ago.  The timing was unbelievable as it arrived about 6 weeks before the pandemic lockdowns took hold in Melbourne.  I absolutely love playing (perhaps now more than ever) and am almost back to a standard that is worthy of the beautiful instrument that it is.

Advice and services offered

About 60% of our business is SMSF advice and administration services.  The remainder of our business is more general financial planning.  We deal mostly with retirees and pre-retirees and I’d love to find a way to incorporate younger clients into our business model – but we’ve not really managed it yet.

Current challenges

I’m sure I won’t be on my own when I say that regulatory pressures and costs are weighing me down. Not complying with them as such, but have you ever watched a person trying to hula hoop? One is fine, 5 is OK, 10 is a struggle and 20 is just damn tiring.  I also can’t help but suspect most of what we have to do will be completely ineffective in solving the problem.

IT is always a continuing issue. If anyone can find that one solution that works exactly right, please let all know and I’m sure you’ll earn the eternal gratitude of an entire industry ?.

Involvement within FP sector 

For a few years now I’ve been the Treasurer for the BFP.  I was involved for a time with the Regulatory Committee and I’m currently on the Professional Standards Committee with the SMSFA.

More importantly the fun stuff…

You would never know it but

I’m a closet watcher of Lakefront Bargain Hunt.  For anyone who has seen this senseless pap, you’d think someone would get tired of pretty much watching the same thing over and over.  But I don’t. Perhaps I’m in awe that in the US is seems you can get a 3 bedroom 3 ½ bathroom house on the water for the price it would cost to do a closet extension in Australia. Oh well, my kids will just have to get used to me commenting on the outrageous expectations of would be bargain buyers.

The fork in the road I almost took was

Mine’s more the fork in the road I took. I studied Accounting and Law out of school, was in my final year and had Articles lined up with a top law firm here in Brisbane, and then dropped out (now that was an interesting conversation with my rather dismayed parents). I then did 6 years of Psychology and have a Masters in Sport and Exercise Psych. Loved studying it, hated working in it. And that was what led me to calling John all those years ago.

I always

Love making/fixing things. They’re almost never pretty, but I’m a master of the ugly functional.  If I can fix it, I will, and then argue with my wife why it should be allowed back in the house. Just bought a table saw, and for those of you who have seen a cheap Bunnings table saw, its an awesome way to lose some fingers (there’s none of that ‘stopping dead at the touch of skin’ nonsense).  I’m hoping to defy the common expectation.

I never

Win at Wordament.  Unfortunately it is looking more and more unlikely and I’ve come to the conclusion that either I’m slipping cognitively, or the game is just attracting more smart people and I’m being left behind.  I introduced my Sister to it and she’s finished No.1 in the world about 100 times and finished top 10 when playing in German (a language she doesn’t speak and only learned in high school). So you can see where all the brains went in our family.

The happiest moment in my life was

As a young bloke with my girlfriend (now wife) heading out on a road trip up the Queensland coast.  We had no timeframe, no agenda, if we saw a road and wondered where it went – we turned down it and found out.  The feeling of freedom was awesome and it took us 3 ½ months to go from Brisbane to Cairns. Then we bought a boat…. And that is another story.

My secret guilty pleasure is

Getting a bunch of guys together, having a few drinks, and being grumpy old men.  We could solve the world’s woes if only someone would listen.

In my day, Socials (see below) used to be where we went to dance with girls. They’re not nearly as interesting these days.

Advice and services offered

We have traditionally been servicing the high income wealth accumulators well with tax management, insurance, super, budgeting and borrowing to invest and debt strategies.
As we mature and our client base matures we are now working for more clients who already have significant wealth and need to optimise that.
We are a 50 clients per advisor model.

Current challenges

We spend a lot of time on advice documents, following up, implementation, digging deep, working with external professionals etc and that means we struggle to scale and are always busy.

The solution in addition to focusing on efficiencies, is to keep doing the high quality work but for less clients but clients who are in a position to pay for that work.
So we are engaging only those clients who we can deliver outstanding value to and we pass other clients on to other advisors who we know and trust.

Involvement within FP sector 

We don’t do enough to shape the legislative future of the industry but we do spend time with young people helping them with contacts and understanding the journey, pathways and opportunities in this great industry.

More importantly the fun stuff…

You would never know it but

My family and I ride horses competitively doing Show Jumping. That keeps life hectic but drags me out of the office.

The fork in the road I almost took was

Staying in Chile for a longer term engineering project rather than coming back to start my transition into Financial Planning.

I never

Thought I would end up with a team, a client base and a business as awesome as it is. Same for my family.

The happiest moment in my life was

The times I stop to look back and reflect on how good life has ended up.

My secret guilty pleasure is

Not willing to disclose

Advice and services offered

Niche – IMA’s supported by independent research and purpose built technology.
Client base is largely pre-retirees and retirees.
All clients on annual service agreements and fixed fees.
Intend expanding services, including Insurance, to service younger clients.
We have our own Xplan site which continues to be developed.
We have built a trusted network of local like-minded professionals – Accountants / Mortgage Brokers / Lawyers.

Current challenges

Scale. We are experiencing great organic growth – but I would like to have a second planner in the business ASAP to create a more robust structure.
Process efficiencies. Have just started using external paraplanners and expect this will help.

Involvement within FP sector 

Limited involvement at this stage – would definitely like to have the capacity to contribute more in the future. My ‘pro bono’ time is currently being spent as a Director and IC Chairman for a philanthropic Fund – the Buderim Foundation.

More importantly the fun stuff…

You would never know it but…have swum in the wild with dolphins and manta rays.

The fork in the road I almost took was… accepting a position with BT on their Remediation team in 2016. Luckily my AFSL application came through and knocked me to my senses.

I always…regenerate by being outdoors – walking, paddling, climbing mountains, skiing, exploring nature. And love gardening.

I never…don’t enjoy wine, music, food and travel.

The happiest moment in my life was having champagne breakfast at the Duck and Waffle Restaurant in London with my partner (now husband) and cousin – it epitomized the culmination of so many joys and a long journey.

My secret guilty pleasure is… more wine.

Advice and services offered

Holistic advice offering – lots of experience across pretty well all areas. We don’t profess to be the best, but I’ve been in finance for best part of 50 years and we try our very best.

Current challenges

Growing the business capacity (we want to help more people) and contending with ever changing regulatory requirements.

Involvement within FP sector 

Cannot claim to be heavily involved outside our little world. Do a fair amount of pro bono work with the Cancer Council.

More importantly the fun stuff…

You would never know it but….

I had a one-on-one conversation with Queen Elizabeth in 1970 – what a lady she is!
I had another exhilarating experience with another wonderful lady in 2016 when my wife (Carol) and I walked the full Camino Frances of 900km across Spain – St Jean Pied de Port to Finisterre.

The fork in the road I almost took was…

Not marrying my wife in 1976. Who knows where I would be now? I very much doubt in any better place!

I always…

Castigate myself when I lack patience on the road, judge people before I know the truth/’walk in their shoes’ and generally consider that I’m not getting much better in this regard with age.

I never…

Litter, sit till for any longer than 2-3 hours or not finish watching a movie that is boring me to death.

The happiest moment in my life was 

Finally stopped getting pimples/acne at age 24!

My secret guilty pleasure is…

Red wine and Allen’s Fantales as I watch movies or a Netflix series.

Advice and services offered

General practitioners providing advice to a long term client base of generally mid-sized clients with a heavy emphasis on older retirees and Centrelink clients

This is representative of our community demographic more than our business plan

Current challenges

Multiple compliance challenges as a small Licensee and managing a small bubble of newly retired clients

Involvement within FP sector 

Past involvement with FPA at a National level.

More importantly the fun stuff…

You would never know it but….

I play the didgeridoo and speak a little bit of our local Ngarandjeri language

The fork in the road I almost took was…

Left an Agricultural career to commence Financial Planning

I always…

Exercise of a morning … every morning !!!

I never…

Sleep in

Twice in the last 40 years I have slept in past 7.30am

The happiest moment in my life was (cannot include marriage or children)…

Travelling …. Maybe my first trip to Nepal

My secret guilty pleasure is…

Chocolate

Advice and services offered

Mostly high net wealth, structuring, planning and investment.

Preferred client market

Greater than $2m in assets or $500k pa household income

Current challenges

Using technology to free up our time.

Advice and services offered

We offer the usual financial planning services but also have an integrated SMSF administration service through Future Gen Accounting. We also have an estate planning service and have a strategic arrangement with a legal firm.

We adopted a contrarian investment philosophy many years ago which has seen us in good stead with clients. Currently we are investing a lot of cash which we have had on the side lines and in corporate bond portfolios which are maturing.

The firm also holds a Credit License, which has been beneficial given loan facilities and debt instruments are fundamental when you are dealing with SMEs.

Preferred client market

Most of our business comes via referrals from existing clients – so we have our fair share of SME owner operators plus executives and senior managers.

Current challenges

Advice generation. We made the change to Adviser Logic simultaneously as Morningstar were buying them out and that was beneficial. Morningstar have pulled out the stops to assist us. We can’t speak highly enough of their efforts.