Advice Around The World

In this edition of Advice Around the World, we discuss running a planning firm that spans Switzerland, Sweden and Germany, as well as the importance of financial coaching and inclusion. Financial planning, heavy metal, inclusion, and why women are usually better investors than men. This episode of Advice Around the World covers lots of ground, which is unsurprising considering that our interviewee operates across Switzerland, Sweden and Germany. Our interviewee this time is Sarah Genequand Miche, partner at Lyra Wealth. The firm stands out among others in its region, with a stated focus on financial planning, coaching, and passive investing. This might seem commonplace to those listening in from the US or UK, but is still a somewhat maverick approach in the prominent banking nation of Switzerland, where Genequand Miche calls in from.  We can extend the maverick storyline further. Genequand Miche has also authored a book titled Women Are Worth It, which offers straightforward explainers and research on why women should engage with their finances and take charge of their investments. The intention is to help people make better financial decisions, encourage greater access to knowledge, and also to challenge the perception that financial services are stuffy and exclusive.

In this episode of Advice Around the World, Gusi Cohen from Insigneo offers an Argentine perspective on financial planning, rugby, and the perfect asado.  Most financial planners have a challenging job as it is, but how would you operate in a nation with political unrest like Argentina? There is a lot to love about the country, but in a financial sense it is not an ideal place for providing peace of mind. Thankfully, we are joined this week by Gusi Cohen, senior independent financial adviser at Insigneo. Cohen explains how people have adapted to the political and economic uncertainty and how financial advisors can cater to their needs. In other episodes we have delved into financial planning, behavioral finance and other topics that help clients to properly consider their circumstances and ambitions. This does not appear to have taken such a hold in Argentina, where soft skills and trust remain important, but protecting capital takes on a more central role. 

Episode eight of Advice Around the World takes us to South Africa, where we talk to Gugu Sidaki, founder of financial planning firm Wealth Creed, about financial literacy, diversity, funeral plans, and more.How many advice firms do you know where most clients are black women? Not many, we assume. In this week’s Advice Around the World, Gugu Sidaki tells us how she has bucked this trend, and how her experiences in life have shaped her as a financial planner.Gugu shares her passion for financial literacy, and also about her series of children’s books on the topic. As an advocate of greater access to advice for women, she also passes on some key points on how to bring more women to the table in this profession. 

Episode eight of Advice Around the World takes us to Wales, where we speak to record-holding athlete and successful advice firm founder, Jade Williams. The young Welsh planner is a national record holder for the 3000-metre steeplechase, training for the Olympics, and the owner of an advice business with over £100m in AUM. She also dances Argentine tango. We may as well mention that. In this podcast, Williams explains how she balances her two careers and makes the two work together. For instance, many of her clients are from a sporting background too and appreciate the insights of someone who can relate to their daily challenges. Williams is joining us for this episode from Germany and explains how she’s managed to maintain client communications while competing in various locations around the world. 

In episode seven of Advice Around the World, we head to Canada for a lesson on leadership, standards setting, and team culture from PWL Capital’s CEO, Brenda Bartlett.

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.

Advice Around the World heads to Australia for episode two, as we speak to David Andrew, founder and CEO of Capital Partners Private Wealth Advisers. In a Zoom call spanning across three very different time zones, we ask Andrew about the decisions that turned Capital Partners into a multiple award winning business.  Andrew also discusses the importance of cybersecurity, following an attack on his firm in 2018. Get caught out twice, as he says, and clients will be very anxious. If it happens three times, you can count yourself lucky to have any clients at all.  We also learn about the Australian market for financial planning and how commission-led sales no longer rule the day. Listen in for his assessment of how Australian planners stack up against their foreign counterparts. 

AES International chief executive Sam Instone is kicking himself. Having shared a room with James Blunt while the two were both officers in the Household Cavalry, it is safe to say doubting Blunt's talents was not one of his best decisions.In episode one of Citywire’s new Advice Around the World podcast, Instone tells Ian Horne and Amelia Garland about some of his better ones too, though. As you will find out in the podcast, Instone is more than just the leader of one of the Middle East’s leading financial planning firms. He is also a magnificent storyteller. And yes, this podcast is about financial planning too. We ask Instone about financial advice in Dubai. Is it really the Wild West that many perceive it to be. Tune in to get Instone’s take.Next stop, Australia.