Our Adviser Profile this week is Jason Cook. Jason is a Gold adviser with 15 client reviews with an average client rating of 100%. Jason is Director and Senior Financial Planner, at WB Financial Woolloongabba Central, in Brisbane, Queensland.
- Best thing about being a financial adviser?
Getting down to people’s “Why”. Often, this is an emotionally-charged exercise; though, once we’ve been through the exercise, I can see the emancipation that results from this. The tangible and quantitative goals just flow from this point, and the rest is just numbers. Every client of mine is firstly a person – it’s not a transaction for me; and I love the strong bond that results from this.
- One thing you would like to see improved or changed in the industry?
There is still a long way to go in educating clients on the value of advice. It’s slowly changing, but we need to amplify the message -- and be persistent with this -- about what it is that we do; and how this can transform a person’s life.
- The areas on their finances or economy that worry your clients the most?
The constant changes to legislation, particularly around superannuation, are a frustration. Understandably, it becomes difficult for clients to absorb the ongoing changes; and clients are, in turn, less willing to commit to a system where the political risk around this commitment is high. Using Superannuation as a method for growing wealth provides an excellent opportunity for most people, however the certainty around this system is put into question all too regularly.
- What's the strangest question a client has ever asked you?
A late 20-something on slightly above-average income, with little in the way of assets, asked, “Can I retire in 5 years time?”. What appears strange to me as a Financial Adviser, is simply not so strange to a person outside of the industry, and I understand that; given my time in the finance sector. To this, simple-yet-loaded (strange) question; I respond, with a simple-yet-loaded answer: “What are you prepared to put in?”. Nothing is impossible, and I can show you how, but can you achieve this; how much effort will you give it?
- If you could get three things into consumers' heads about what advisers do or don't do what would they be?
a) Financial Advisers look forward into the future. This is not a profession that completes a transaction, based on something that happens in the past – therein lies the difference between what you may think is Advice; and what Advice really is.
b) Financial Advisers don’t sell products. Financial Advisers formulate Strategies, using quantitative and qualitative data. It’s not always about the money; it’s about what’s important to you.
c) Whilst we, as Advisers, can develop effective strategies for growing and protecting wealth, we can’t do this without ‘buy-in’ from the client. Often cashflow and spending habits have a large impact on future wealth; and whilst we can offer guidance and monitoring around this important aspect of a household’s financials, clients have to take some responsibility for keeping this in order. That simple-yet-loaded answer: “What are you prepared to put in?”.
- How do you describe your job at BBQs?
I’m a Specialist Adviser in Self-Managed Superannuation Funds, and Small Business Protection Strategies. I recommend optimal business/individual lifestyle strategies, and ensure that the strategy is safeguarded through adequate Protection cover – essentially, I provide holistic business and individual strategies; encompassing investments, cashflow management, your future (superannuation), and the protection of the entire strategy.