Advice Around The World

How do you find your flow with money? Lea Schodel, Australian innovator and life coach, tells all in episode six of Advice Around the World. As strange as it might seem, we all have a relationship with our money. In this week’s podcast, we delve into this relationship, to see what money coaching can do to improve our decision-making and enhance the service offered by financial planners. The messages that Schodel shares can be applied to people of all backgrounds and nationalities. Intriguingly, she explains that most clients, regardless of their circumstances, have questions, frustrations and hopes of a similar nature. Wherever you are listening from, money coaching, combined with a robust financial plan, could be an approach that sets your planning proposition apart. 

For episode five of Advice Around the World, we speak to Nick Stewart, CEO of New Zealand-based planning firm Stewart Group. We begin by discussing Stewart’s Ngai Tahu ancestry, and what these Maori roots mean to him as a person. From there the conversation turns to beekeeping and wine, and starts to head down paths that are not well traveled in the financial podcast genre. We do, nonetheless, get some top level tips on how to improve financial planning, both at an individual business level, and in a wider context. Stewart admits that New Zealand is not a pioneering nation in terms of financial planning, but explains that this should not stop aspirational firms in challenging locations.  Also, they say you should never discuss politics at the dinner table. Thankfully none of us were sitting at one, as Stewart details his interest in politics, and why he thinks advisers should speak up to improve regulation and the reputation of their profession. It is easy for us all to complain about how things should be better, and Stewart outlines the importance of turning irritation into action.

This week’s Advice Around the World podcast takes us all the way to Hong Kong, where we speak to Simon Parfitt from Pyrmont Wealth. Parfitt is one of the standout financial planners in his region, and he has some incredible insights to share with us on his local market. There are several revelations here. One which particularly stood out is the fact that Hong Kong has become a tourist destination. Not for sun, sea and sand, but rather for Chinese mainland citizens looking to buy insurance products. Parfitt tells us why this happens, and how this unusual quirk has come to pass. We also learn why many advice firms fall under the remit of the insurance regulator. This detail, which at face value is dry, leads to a better understanding of how planning does, or in other cases does not, work in Hong Kong. This is a conversation that covers some unusual ground, but not without shedding some light on the value of proper financial planning.

In part two of Advice Around the World with Michael Kitces, we look at brand building and communication. However, we begin with a look into America’s Paycheck Protection Program, a loan scheme which a handful of US advice firms have controversially utilized. 

We also discuss how Kitces has built his brand, and why he only ever wears blue shirts. He is doing something right, as the blue shirts now have their own parody account on Twitter.

Finally, because we could not help ourselves, we also explore the suggestion that Kitces does so much work that he cannot possibly be sleeping at night. Whether or not you are familiar with Kitces’ work, we recommend that you tune into this one. As financial planning interviewees go, it is hard to think of many, if any, who are as qualified as Kitces. 

Advice Around the World heads to the United States for episode three, where we speak to financial planning trailblazer Michael Kitces. In part one, we learn about Kitces’ numerous roles within financial planning and fintech, as well as his views on what separates a great business from a good one. We also get some practical and valuable tips on how to properly scale an advice business. For those who know Kitces, he needs very little introduction. For those who do not, listen in and hear from one of the sharpest minds in the business, and then check out his Nerd’s Eye View blog.