If the holy grail of investing lies in the concept of non-correlated return streams with which to build truly diversified portfolios, insurance-linked securities (ILS) should emerge as one of the options for investors; but they are still not well-understood. That was the message that John Wells, co-founder and chairman of London-based Leadenhall Capital Partners, had for The Inside Network’s recent Alternatives Symposium.
Gold’s spectacular rise has been a feature of the markets over the last couple of years, and judging from how the investment banks are sharpening the pencil on their price targets, that trend seems likely to continue, as gold’s ‘NETGO factor’ intensifies.
From work experience to GM, the journey continues
Initially uncertain about her Commerce major, Perth student Bree Stevens wondered what, as someone drawn to numbers and with a desire to help people, could do. But as soon as she started a financial planning major, she says she felt right at home. Very soon afterward, her die was cast.
“While studying, I started working with Blueprint part-time in 2002. I immediately appreciated the real-world exposure and the opportunity to see first-hand how financial advisers help clients gain financial confidence and make a meaningful impact in their lives,” she says.
At the same time, Blueprint must have been making a meaningful impact in Stevens’ life, because she is still there, as general manager, overseeing a 37-strong team.
“I continued at Blueprint after graduating, taking on various roles within the team, from receptionist to paraplanner to financial advisor. Since 2008, I’ve served as the general manager, overseeing compliance, operations, people management, culture, and finance. I am a member of the leadership team and a shareholder in the business,” she says.
Looking back, Stevens says moving into management “evolved naturally” over time. “Without any definite intention, I gravitated toward parts of the business that I was more interested in and that I felt more comfortable in. I got my authorised representative (AR) status very early, because I had the qualifications to do that, but I really only used that to stay close to the strategy, understand what the advisors did day-to-day, and deal with clients in a servicing capacity. We were growing quite a bit at the time, and I just naturally gravitated toward the administrator side and the management side, and wanting to understand systems and processes and people and how to get the most out of the team.”
In that sense, Stevens sees herself as Blueprint’s “coach.”
“The way we’ve tried to structure the business is that we have people who are experts in their particular area, and we let them focus on what they’re best at, and don’t try and tell them how to do it. We certainly seek feedback from them on what’s not working, or give them ideas from other businesses and things to think about, but at the end of the day, we don’t need to teach them how to do it. We just want to make sure we give them the support and the tools that they need to be successful, and be the best advisers and para-planners they can be.”
That means Stevens’ plate includes a wide range of responsibilities, in an ever-changing daily menu.
“My main role is to oversee the advice process and compliance of our practice, have input on client strategies that are put into force, and ensure that we abide by all regulatory guidelines and frameworks,” she says. “I’m also responsible for the people management of our team, including recruiting and interviewing, training, induction, performance management, mentoring, career mapping and KPI setting.
“I also integrate new practices and staff members as a result of mergers and acquisition, negotiate contracts with different suppliers and service providers that we work with, negotiate leases, and prepare financial accounts for the practice. Oh, and if the air conditioning is not working well, I’ll get it fixed,” says Stevens.
In other words, it depends on “what’s going on in any given week.” But she loves it.
“My role can vary a lot day-to-day, but it’s really all about trying to make sure the team is happy and focused, and is always trying to do things better. One of the values of our businesses is always trying to make sure people are looking for continuous improvement, and looking for ways of doing things better and smarter and more effectively for the business and for the client to get a better outcome. We’re always challenging our people to find a better way of doing that. But the most important thing, every day, is to show our people that the business and I are there to support them, and try and help them in whatever way we can to help them be successful.”
Stevens is modest enough to try to downplay it, but it’s clear that that she has played an integral role in building that culture. “I’ve always been conscious that our business has strong values, and those start at recruitment, and I’m involved in that. I believe we’ve always tried to recruit the right people, who are the right fit for the team and have that drive and self-motivation to be confident. We never stop trying to empower people to be able to go and do what they do best, and thrive and excel in their roles.”
She is excited about the advice industry’s future. “For those entering the industry, my advice is to stay curious, ask questions, and never stop learning. Seek out mentors, build strong networks, and always look for ways to improve processes and client experiences,” says Stevens. “The financial planning industry offers incredible opportunities for those who are passionate about making a difference in people’s lives, and I am grateful to have been part of this journey for over two decades.”
And she is delighted to see younger people – particularly women – entering the industry. “That is really encouraging, and it’s up to us who have been in advice for a while to encourage those younger people to build relationships across the industry, and really make sure that they nurture and leverage those relationships,” Stevens says. “I’m a huge advocate for people sharing knowledge and sharing ideas to better the industry as a whole. I don’t see other financial advisers as our competitors – we all know that there’s more than enough work out there for everyone.”
