Speaker 1: She's on the Money. She's on the Money.
Speaker 2: My name's Satasha Bamblet.
Speaker 3: I'm a proud First Nations woman and I'm here to
Speaker 3: acknowledge country. Hello, beautiful friends, we gather on the lands
Speaker 3: of the Aboriginal people. We thank acknowledge and respect the
Speaker 3: Aboriginal people's land that we're gathering on today. Take pleasure
Speaker 3: in all the land and respect all that you see.
Speaker 3: She's on the Money podcast acknowledges culture, country, community and connections,
Speaker 3: bringing you the tools, knowledge and resources for you to thrive.
Speaker 4: Hello, and welcome to She's on the Money, the podcast
Speaker 4: where we discuss all of the issues concerning your personal
Speaker 4: wealth goals and yes, even the stuff that you have
Speaker 4: been way.
Speaker 2: Too embarrassed to bring up with your accountant.
Speaker 4: I'm Victoria Devine and joining me on their deep dive
Speaker 4: couch today is none other than friend of the show,
Speaker 4: Daisy Egan, who is also a financial advisor at Everest Wealth.
Speaker 2: My friend, welcome back to the show.
Speaker 1: Thanks so much for having me back.
Speaker 4: I'm also very aware of how anxious you are, because
Speaker 4: I said my Instagram stories I'm having Daisy, what are
Speaker 4: unhinged questions that you guys have for a financial advisor,
Speaker 4: and you were like, Victoria Devine, do not put me
Speaker 4: in this position.
Speaker 2: And I was like, big dog, this is exactly where
Speaker 2: we need to go.
Speaker 4: So usually Daisy and I have these really beautiful, deep
Speaker 4: dive discussions on the couch of how and when and
Speaker 4: where booking your first consultation with a financial advisor, and
Speaker 4: the ins and outs of the really important stuff when
Speaker 4: it comes to financial advice. But like this time, I
Speaker 4: just thought, let's do something a little bit different, and
Speaker 4: let's ask Daisy some of the slightly unhinged and maybe
Speaker 4: morally gray questions that you've been asked in your career
Speaker 4: as a financial advisor. And not only have I gathered
Speaker 4: our own questions since you've already been acquainted, we have
Speaker 4: asked our community to come forward ask me anything style
Speaker 4: to ask Daisy about the financial advice you've been asked for,
Speaker 4: maybe the financial advice you've given or even had to deliver. Daisy,
Speaker 4: my community arguably have not made this easy. I'm really sorry.
Speaker 4: They have made it fun, though, So like that's a
Speaker 4: step in the right direction, because not only do the
Speaker 4: questions range from really normal and honestly fine and reasonable
Speaker 4: to oh my god, are actually people doing this with
Speaker 4: their cash? Like why did this come into your brain?
Speaker 4: Why do you think someone has been asked that? And
Speaker 4: while this is all good fun, there might be some
Speaker 4: I guess, really substantial things in this for our listeners
Speaker 4: who maybe are just too shy to ask particularly niche questions. Now,
Speaker 4: I'll give you some time to mull over these questions,
Speaker 4: and when we get back, we're diving straight into things.
Speaker 4: Welcome back, guys. That was just an ad break. I
Speaker 4: didn't actually give Daisy any time to prepare for these questions.
Speaker 4: We are doing a deep dive with Daisy from Everest
Speaker 4: to Health, where she's answering questions from our community about
Speaker 4: the most unhinged advice you've ever been prompted from?
Speaker 2: Daisy? Where do you want me to begin with this?
Speaker 1: Let's start with a boring one maybe, or a more
Speaker 1: sensible one to keep things I think.
Speaker 4: All right, fine, maybe we can kick it off with
Speaker 4: I guess some pedestrian questions about finance. What are some
Speaker 4: of the more stock standard questions you get in your
Speaker 4: line of work, like people coming in the door initial consultation.
Speaker 4: You know not how much your advice fees, but like,
Speaker 4: what are some questions that people usually ask you.
Speaker 1: Yeah, this is a really good question actually, so a
Speaker 1: lot of people don't fully understand what a financial advisor
Speaker 1: does and where we fretilt it is. Yeah, so I think,
Speaker 1: like understanding the difference between an accountant, a mortgage broker,
Speaker 1: a lawyer. So like, I think kind of understanding what
Speaker 1: actually do you do is a very stock standing question
Speaker 1: that we get a lot of people also that come
Speaker 1: to see us and maybe like, I don't know if
Speaker 1: I'm ready for financial advice, and am I ready for
Speaker 1: financial advice? A lot of people are somewhat surprised at
Speaker 1: the scope of work we can do as well, so
Speaker 1: it made us think that, oh, can you just help
Speaker 1: me with my superin insurances? Not understanding the other kind
Speaker 1: of goals and lifestyle discussions that we have as well. Yeah,
Speaker 1: so yeah, I think it's more around the main questions
Speaker 1: I seem to get is kind of what we actually
Speaker 1: do as a profession.
Speaker 4: Yeah, and I know I've asked my community for unhinged questions,
Speaker 4: but one of the reasons I wanted to do that
Speaker 4: is when you're a financial advisor, and for those of
Speaker 4: you who maybe haven't met me, and this might be
Speaker 4: a first episode for you. I am an ex financial advisor,
Speaker 4: so Daisy and I are probably going to have some
Speaker 4: very shared experiences here. Our questions can be quite unhinged.
Speaker 4: Like one of the coolest parts of when I was
Speaker 4: a financial advisor is how.
Speaker 2: Deep the relationship goes with a client.
Speaker 1: Right.
Speaker 4: I don't know if you feel the exact same way,
Speaker 4: but for me, it was like, honestly a bit of
Speaker 4: an honor for people to be so open with me,
Speaker 4: because it's not like your doctor where you just share
Speaker 4: some medical information. It's not like your accountant where you're like, well,
Speaker 4: here's my taxes. Like with a financial advisor, go I
Speaker 4: need your medical history. I actually need to know your
Speaker 4: goals and aspirations and what you want achieve in life.
Speaker 4: I also need your finances, So like, I'm in everything,
Speaker 4: and if you're not comfortable with me, I can't be strategic,
Speaker 4: I can't be powerful, I can't have the impact. So like,
Speaker 4: I want to be your bestie, and if you're not
Speaker 4: comfortable asking me questions, go find a new advisor.
Speaker 1: Yeah, that's my biggest thing, is like, name another profession
Speaker 1: where you have that much in depth knowledge around a
Speaker 1: client's circumstances because you know, there are state planning, so
Speaker 1: you know their family situation. Like yeah, as you said,
Speaker 1: you know all their health history from doing insurances, you
Speaker 1: know their finances. And the biggest thing for me is
Speaker 1: like there is no such thing as a silly question,
Speaker 1: and like I know that everyone says that, but like
Speaker 1: this is your life and this is your finances, and
Speaker 1: like we really want you to understand that. Yeah. I
Speaker 1: hate kind of hearing that, oh, my financial advisors did
Speaker 1: this for me and I don't really.
Speaker 2: Get it, Like I, oh, no, that I'm.
Speaker 1: Not going to walk away going cool. I've chosen this
Speaker 1: route because I want this goal or X y Z
Speaker 1: kind of thing, Like I really that education piece is
Speaker 1: so important to us.
Speaker 4: Yeah, and that's kind of why I wanted to do
Speaker 4: the unhinged question Vibes, because we're just people who want
Speaker 4: better for you, Like I want you to ask me
Speaker 4: the dumb questions. And I have noticed over the last
Speaker 4: few months a really big influx into my inbox, not
Speaker 4: from your clients, just to be very clear of people
Speaker 4: who have sought financial advice, gotten it and then be like, hey,
Speaker 4: v I didn't want to ask my advisor this, but
Speaker 4: what does this mean? And I'm like, girl, go back
Speaker 4: to your advisor, like they're the ones that should be,
Speaker 4: you know, going above and beyond. Like if you're not
Speaker 4: comfortable asking to me, that's a bit of a red flag.
Speaker 4: So I guess that's a really great place to kind
Speaker 4: of frame this conversation. But we're going to go to
Speaker 4: the top of the questions that I have because I
Speaker 4: don't know, I feel like we want to break down
Speaker 4: the fact that financial advisors we're just people who want
Speaker 4: the best for you, and we're actually really fun too,
Speaker 4: all right, We're fun and we're hip and we're funky
Speaker 4: and fresh. Like I promise, I'm not just a regular mom,
Speaker 4: I'm a cool mom. But really quick disclaimer because like
Speaker 4: both Daisy and I, we have financial services licenses, So
Speaker 4: quick disclaimer. We are sharing stories and questions from the community,
Speaker 4: right and while Daisy is a financial advisor and is
Speaker 4: licensed to provide financial advice, in this situation and in
Speaker 4: our chats, the advice that is shared is general in
Speaker 4: nature only and does not consider your personal circumstances and
Speaker 4: cannot and should not ever be considered financial advice for you.
Speaker 4: With that said, Daisy, are you happy to move forward absolutely,
Speaker 4: all right, Daisy, What is one of the first questions
Speaker 4: that you ask a client. So they come in, they're
Speaker 4: filled in your full fact find You've got like all
Speaker 4: their data on the table.
Speaker 2: What are you asking them?
Speaker 1: My biggest thing is around goals and what I call
Speaker 1: lifestyle design. So to me, that's so important because I
Speaker 1: can write a financial plan that is the best numbers wise,
Speaker 1: but it may not take into consideration that they want
Speaker 1: to start a family in a few years, or may
Speaker 1: not take it into consideration that they want to go
Speaker 1: to Europe next year and take three months off. So
Speaker 1: I think I think really having that goals discussion and
Speaker 1: kind of where you want to be, what you want
Speaker 1: to be doing, is really important before we actually get
Speaker 1: into the numbers side of things, because to me, that
Speaker 1: really underpins then the financial plan that we would create
Speaker 1: for our clients.
Speaker 4: I've seen a lot of single girls and my dms
Speaker 4: replying to this and they're like, what are you asking
Speaker 4: single girls?
Speaker 3: Like?
Speaker 4: Is that a specific situation? Like you asking different questions
Speaker 4: to the single ladies than people coming in as a couple.
Speaker 1: Not necessarily, but usually having those goals discussion may open
Speaker 1: up some things for single women. So a few single
Speaker 1: women that I've seen lately kind of either want to
Speaker 1: freeze their eggs or want to become a mother by
Speaker 1: themselves with like a sperm donor. So that's obviously quite
Speaker 1: a costly thing that we have to take into considerations.
Speaker 1: I think having that goal discussion really opens up for
Speaker 1: the single girls to then give me a bit of
Speaker 1: a kind of two sentence answer on what they want
Speaker 1: to do over the next few years.
Speaker 4: And that's really important, kind of like putting those questions
Speaker 4: on the table to them, because like I feel like
Speaker 4: when you come in, I just I go back in time.
Speaker 4: Single meet I think would have been like a deer
Speaker 4: in headlights going into a financial advice meeting being like,
Speaker 4: oh my god, Like Daisy is so smart, she's probably
Speaker 4: gonna judge meet.
Speaker 2: She's not. But are you then going, oh, hey, a
Speaker 2: few of my other clients are thinking of this. What
Speaker 2: are you thinking? Like, how do we open this conversation?
Speaker 1: Yeah? Absolutely, So some people come in they just will
Speaker 1: kind of tell me everything, which is really awesome. Otherwise
Speaker 1: people may be a little bit kind of guarded. So
Speaker 1: that's really then when you start asking a few more
Speaker 1: questions around cool like I've had clients that are maybe
Speaker 1: similar situation to yourself. They're looking at X y Z.
Speaker 1: Are you like something that you're looking at. The holidays
Speaker 1: thing is a big one for me as well, especially
Speaker 1: for like young single people. It's like, cool, do you
Speaker 1: have any holidays book? Is this something that's important to you?
Speaker 1: Because again, like people want to live their life now
Speaker 1: and it's not necessarily all about kind of scrolling and
Speaker 1: saving all their money away.
Speaker 4: Yeah, And like I don't know about you, but when
Speaker 4: I was an advisor, I really wanted to get to
Speaker 4: know the clients a little bit deeper, like not just
Speaker 4: like holidays, but like what type of holidays?
Speaker 1: Like it's a big thing as well. So yeah, how
Speaker 1: do you holiday? Like as a holiday? To you just
Speaker 1: holiday within your state? Is it going business? Classic Europe?
Speaker 1: Like what does that look like? Because everyone does holidays
Speaker 1: so differently.
Speaker 2: Yeah.
Speaker 4: One of the questions that we got was what happens
Speaker 4: when you see that a client's budget and cash flow
Speaker 4: is actually different from what they're telling you they do.
Speaker 1: That is so many of our clients. Yes, So like
Speaker 1: we really do a deep dive on people's cash flow,
Speaker 1: and I say it's not to be the money police.
Speaker 1: It's just to give you an accurate representation of where
Speaker 1: you're actually at. So I think doing that deep dive
Speaker 1: and then kind of seeing where they think they are
Speaker 1: and where they actually are is a really important discussion
Speaker 1: to have and people shouldn't be ashamed of that because
Speaker 1: that is probably the majority of our clients kind of
Speaker 1: think they're in a different position to what they're in. Yeah.
Speaker 4: I remember a client came in and they're like, I'm
Speaker 4: so good at saving, and I was like, great, norries
Speaker 4: like and I will believe. Like still anything you tell me,
Speaker 4: I'll be like, yeah, must be true. Why would you
Speaker 4: tell me otherwise? Going through their statements and I'm like
Speaker 4: these savings, where are they and then having to go
Speaker 4: back and be like, hey, so you said that you
Speaker 4: were really good at saving, but like, is there a
Speaker 4: separate bank that I'm not looking at because you've provided me,
Speaker 4: you know, access, and I can see this and this
Speaker 4: and oh yeah uh and like totally normal, totally normal
Speaker 4: because I think they're in these situations. Clients often present
Speaker 4: who they want to be, yeah, not who they actually are,
Speaker 4: because they're like, don't judge, be like I might not
Speaker 4: be good at saving. But I really want to be
Speaker 4: good at saving and like, we get it.
Speaker 2: We're just girls.
Speaker 1: And I think like the awesome thing is that a
Speaker 1: lot of clients know that they need help as well,
Speaker 1: and yet, as you said, they might come and present
Speaker 1: the version that they want to be. But then once
Speaker 1: we deep dive, it's like, cool, this is where you are,
Speaker 1: this is where you obviously want to be. Let's work
Speaker 1: together and make that happen. And that's why people should
Speaker 1: seek financial advice because they want that help.
Speaker 2: Yeah.
Speaker 4: One of my dms here says, how much of a
Speaker 4: therapist do you feel like you are on a daily basis?
Speaker 1: Oh? Yeah, a lot of the time. A lot of
Speaker 1: the time. We do have a bit of a running
Speaker 1: joke sometimes that we can be a bit of a
Speaker 1: couple's therapy as well, especially if couples aren't necessarily aligned
Speaker 1: on goals and things like that. So yeah, I feel
Speaker 1: as though I should have probably gone and done some
Speaker 1: sort of postgrading therapy because I definitely need it every day. Girl.
Speaker 4: I feel like when I was working in financial advice,
Speaker 4: I would thank the stars every single day that I
Speaker 4: had a psychology degree because I would be like, oh
Speaker 4: my goodness, like what did I just walk into and
Speaker 4: like some of the questions, I'd.
Speaker 2: Have to be like, oh, yeah, I'll catch up with
Speaker 2: that client later and then get them one on one and.
Speaker 4: Be like, hey, cool, So I picked up on this vibe,
Speaker 4: like how do you feel about that girlfriend?
Speaker 2: It's so awkward but so important.
Speaker 1: Yeah, And we always say there's like a cfo's spouse
Speaker 1: in a couple as well, like that's what we call them.
Speaker 1: And including the noncfo's spouse is so important because you
Speaker 1: can have meetings where one person is just talking the
Speaker 1: whole time, so like really kind of the other person
Speaker 1: being like, cool, so how do you you feel about this?
Speaker 1: What are your goals? Are they different? And it can
Speaker 1: create a bit of tension, to be honest, But I've
Speaker 1: been in situations where like one person has just spoken
Speaker 1: the whole meeting and the other person has then called
Speaker 1: me after the meeting and gone, this actually isn't what
Speaker 1: I want.
Speaker 2: Yeah, And that can be really hard.
Speaker 4: And I think that's where having a good financial advisor
Speaker 4: is important, not because you know you're in a relationship
Speaker 4: that doesn't have equity, but more because they can see
Speaker 4: around the corner and kind of go hold on something's
Speaker 4: cooking here.
Speaker 2: I need to see what's in the kitchen.
Speaker 4: And that's really important because like the CFO, I've never
Speaker 4: heard it phrase that way. I kind of love that
Speaker 4: the CFO spouse, by the way.
Speaker 1: That's me. It's also me.
Speaker 4: But you know what that has meant for me is
Speaker 4: that I have to step back and go, hey, Steve,
Speaker 4: I feel like and like I often say, oh, I
Speaker 4: feel like I've made all these decisions again. I'm really sorry,
Speaker 4: like I've jumped ahead. Are you okay with this? And
Speaker 4: like ninety percent of the time Steve will be like, yeah,
Speaker 4: why are you asking? I'm like, oh, it's just because
Speaker 4: I'm so aware, like this is not a good dynamic,
Speaker 4: like I actually want to make sure that we're on
Speaker 4: this journey together. Not I've just taken the wheel and
Speaker 4: been like, wear this blindfold quick, We're going somewhere.
Speaker 2: And it's a surprise. Someone said, Daisy, ten K just
Speaker 2: dropped into your account randomly, What are you doing with it?
Speaker 1: Very loaded question.
Speaker 2: It's for you personally, not for a community member.
Speaker 1: For me personally.
Speaker 2: Ten K just dropped into Daisy's account.
Speaker 1: Okay, amazing. So I got my emergency fund set up.
Speaker 1: I have a home loan, but I have some money
Speaker 1: in offset. So to be honest, where I'm at the moment,
Speaker 1: i'd probably invest that money.
Speaker 2: Oh you'd invest it.
Speaker 4: Oh, I love that you wouldn't in this economy, go oh,
Speaker 4: I want more in my offset.
Speaker 1: To be honest, I love diversifying away from just kind
Speaker 1: of paying down my debt as quickly as possible. Like,
Speaker 1: I think it's very important that people have a healthy
Speaker 1: offset and like aware of their debt. But to me,
Speaker 1: my homeland doesn't scare me, So I kind of want
Speaker 1: to diversify build something outside of my property.
Speaker 4: My home loan at the moment is scaring me, and
Speaker 4: that's okay. But I feel like I've I don't know,
Speaker 4: given recent economic changes, I've just started adding a little
Speaker 4: bit more of my investment money into my offset. And
Speaker 4: it's like logically, you would look at my financial plan
Speaker 4: on Daisy and you'd probably be like, the why aren't
Speaker 4: you investing a bit more? And it's literally my anxiety.
Speaker 1: And I think psychology of its yeah, And like debts
Speaker 1: can really scare people, and people can be in really
Speaker 1: awesome positions and have good debt and they're still like, no,
Speaker 1: I want to pay that down as quickly as possible.
Speaker 1: And it's like, again, having that discussion with the client
Speaker 1: is just so important because like to your point, like
Speaker 1: where you're at, you're like, cool, I just want to
Speaker 1: put a little bit of extra away.
Speaker 4: And it makes like on paper, it makes no logical
Speaker 4: sense because I could make more money in the share
Speaker 4: market and that's a good thing, but it's like a
Speaker 4: mental barrier for me at the moment.
Speaker 2: I'm like, oh, like.
Speaker 4: Grateful to have it, can afford it. All is well
Speaker 4: and good in the world, but also that number, I
Speaker 4: don't like it and it needs to go. And it's
Speaker 4: kind of like do you see that with because like
Speaker 4: a couple of the questions where about, you know, should
Speaker 4: I pay off my hex stet? And we cannot answer that.
Speaker 4: But a couple of times historically people would come in
Speaker 4: and be like, oh, V I'm really prioritizing paying off
Speaker 4: my hex debt. But I know that it's not a
Speaker 4: good thing to do because like it's just kind of
Speaker 4: an okay debt, it's not bad debt, it's.
Speaker 2: Not good debt. Yeah, what did you do for your
Speaker 2: hex debts? Someone wants to know.
Speaker 1: I was in a very blessed position to not have
Speaker 1: hex stet.
Speaker 2: Ooh, street under the bus.
Speaker 1: My husband has hextet?
Speaker 2: Oh what are you doing about that?
Speaker 1: So we've just been paying the minimum amount.
Speaker 4: Will you ever up that or will you always just
Speaker 4: be like no, you are not a priority in our lives.
Speaker 1: Well, this financial year he's actually paid it off, so
Speaker 1: it was a big win for us. But yeah, it's
Speaker 1: just kind of been let's channel our money elsewhere. And yeah,
Speaker 1: I suppose, like both being in finance backgrounds, we kind of, yeah,
Speaker 1: it didn't worry us, and we knew that eventually it
Speaker 1: would be paid off. So that has hit this financial year.
Speaker 2: Yeah, very fair.
Speaker 4: And for those of you playing along at home, that
Speaker 4: means that your cash flow has increased a little bit.
Speaker 4: Can I be super pervy? Have you got a plan
Speaker 4: for the cash flow that will be released?
Speaker 2: Yes, so she does, of course she does.
Speaker 1: So to be honest, that has probably gone towards our
Speaker 1: mortgage increasing, so it's obviously a bit it's soaked up. Yeah,
Speaker 1: it's opened up a bit of cash flow. But I
Speaker 1: feel like though as though that's been kind of chewed
Speaker 1: up pretty quickly with interest rates increasing. Yeah.
Speaker 4: Yeah, and I love asking financial advisors personal questions like that,
Speaker 4: because it's just like, by the way, I'm here taking
Speaker 4: my own advice as well, Like we have lives as well.
Speaker 4: I think a lot of people look at us or
Speaker 4: looked at me when I was an advisor, I was
Speaker 4: like the pinnacle of understanding everything, and I'm like, girl,
Speaker 4: I'm just arguing with my husband over how much coffee
Speaker 4: beans are and why does he always have to pick
Speaker 4: the expensive ones?
Speaker 2: Yeah? Still like dude, my dude, why?
Speaker 1: Yeah.
Speaker 4: Anyway, I feel like everyone's money story is really unique,
Speaker 4: and we're going to take a really quick break, but
Speaker 4: when we return, we're going to get into more of
Speaker 4: the morally questionable questions, I guess because those were pretty vanilla.
Speaker 2: Yeah, like those didn't scare youable?
Speaker 3: Hold on.
Speaker 4: I have obviously saved the best ones for this part,
Speaker 4: and I'm really glad because some of them carry kind
Speaker 4: of a theme and it's I guess, comforting to know
Speaker 4: that our community are people that are just like us.
Speaker 4: I'm going to be really nice and ask this question,
Speaker 4: which I put in the other section of the show,
Speaker 4: so this is not morally questionable, but have you ever
Speaker 4: gotten money tips and tricks from clients and then been like,
Speaker 4: I'm going to use that in my everyday life.
Speaker 1: Yes, definitely. When I was starting out a mixture of
Speaker 1: clients and colleagues, I think is definitely kind of contributed
Speaker 1: to how I manage my money now. When moving to Everest,
Speaker 1: I hadn't really dealt with the younger client demographic before,
Speaker 1: so I think, like relating to people my own age,
Speaker 1: it's definitely kind of given me more ideas of how
Speaker 1: I can do things slightly different because they are similar
Speaker 1: age to me, going through similar life stage and everything
Speaker 1: like that.
Speaker 4: So I remember a client came in and you know,
Speaker 4: had heard of like points stacking before, and they were like, oh,
Speaker 4: v I've been point stacking here, here, and here, And
Speaker 4: I was like, wait, what like and I said to
Speaker 4: the client, I'm stealing that, like I'm going to replicate
Speaker 4: exactly that, and she's like.
Speaker 2: Oh, go ahead.
Speaker 4: It took me all this research to like work out
Speaker 4: which system goes here, in here, and now like it's
Speaker 4: my hyperfixation. Like I am like diving in on that
Speaker 4: and sharing it with the community. But I was like,
Speaker 4: my queen, you're a genius.
Speaker 1: Yeah, And like one of my clients. I remember when
Speaker 1: I first started it. Ever, she introduced me to shop Back.
Speaker 1: Oh yeah, and I was like, this is unreal.
Speaker 4: And so many people were like, oh v I thought
Speaker 4: shot Back was a scam. And I'm like, no, Queen, no,
Speaker 4: Like I don't know, like adore you shot Back and
Speaker 4: clearly I've worked with him in the past, but I'm like,
Speaker 4: something about your branding makes people think it's not legitimate.
Speaker 1: Yeah, but it is. Yeah, And like I.
Speaker 4: Get legit cash back and then I spend it on
Speaker 4: stuff that I don't need.
Speaker 2: It's fantastic.
Speaker 1: Yeah.
Speaker 4: I also want to ask, and this is like getting
Speaker 4: into the more spicy questions, what's the most unhinged or
Speaker 4: out there asset you've ever seen someone own that you've
Speaker 4: had to like plan around.
Speaker 1: Probably like collectibles such as artwork and vintage cars in
Speaker 1: people's super funds. Oh yeah, that's probably the most unhinged
Speaker 1: thing I've had to like kind of plan around. Otherwise,
Speaker 1: like a lot of kind of like, yeah, unlisted assets
Speaker 1: where they may have put some money into, like a
Speaker 1: friend's business or things like that, and that's like a
Speaker 1: non negotiable for them that they keep it.
Speaker 4: And you're like, this is a terrible idea. Barry's not
Speaker 4: even good at business, but okay.
Speaker 1: And like Barry's asked for another ten grand and you're
Speaker 1: going to give it to him.
Speaker 2: So it's like, and my dude, you're never going to
Speaker 2: see that money again. Let's plan for that.
Speaker 1: Yeah, So I think probably yeah, things like that. But yeah,
Speaker 1: I had a client previously who had, yes, some artwork
Speaker 1: and two vintage cars in they're super fund.
Speaker 2: Wow.
Speaker 1: So like the rules around that, and like the fact
Speaker 1: that it's in super so they can't use it personally
Speaker 1: and things like that. It's a very interesting conversation.
Speaker 4: Yeah, And I think people like this is like me
Speaker 4: just talking financial advice shop. I guess I think people
Speaker 4: don't realize that if it is in your super fund,
Speaker 4: you're not allowed to touch it.
Speaker 1: Yeah.
Speaker 4: And I remember a client making me and like I
Speaker 4: kept saying, I don't think this is a good idea,
Speaker 4: Like I don't think we should be putting this into
Speaker 4: your super fund, making me put a like wine collection
Speaker 4: and there were like lots of vintage wines and stuff
Speaker 4: in this collection, and I was like, cool, where do
Speaker 4: you keep it? They're like in my home And I
Speaker 4: said cool, do you drink any of it? And they're like, oh, no, no, no, no,
Speaker 4: we're like storing it. And I said, great, so we're
Speaker 4: storing it to sell it? Oh no, no, no, we're
Speaker 4: storing it and will open like this bottle on someone's
Speaker 4: twenty first birthday. And I was like, cool, that's not
Speaker 4: an investment, like and trying to talk down people. They're like, yeah,
Speaker 4: but it would be worth so much more and I'm like, yes,
Speaker 4: if you sell it, and if it's in an SMSF,
Speaker 4: like you can't touch it. And I think a lot
Speaker 4: of people will go, well, I could buy a house
Speaker 4: in my SMSF.
Speaker 2: Is that not a genius idea?
Speaker 1: Or holiday homes?
Speaker 4: Yeah, you can't use that asset, like not even one
Speaker 4: day per year.
Speaker 2: Are you allowed to go and use that asset? You
Speaker 2: can't even lease it to yourself.
Speaker 4: Yeah, And they go, hold on, that's not such a
Speaker 4: good idea, and you go, I know, yeah, I know.
Speaker 4: And it gets a little bit awkward because often people
Speaker 4: have like thought of these things in their heads and
Speaker 4: they're like, this is a genius idea, Daisy, so what
Speaker 4: we're going to do and you're like, yeah, so we're
Speaker 4: not allowed to do that. I'm sorry to burst your bubble.
Speaker 4: Do you find those conversations awkward or like okay.
Speaker 1: Now, initially I definitely did, but I think kind of
Speaker 1: explaining that, like this is not compliant. This is like
Speaker 1: you can get in a decent amount of trouble for this.
Speaker 1: It's kind of usually scares people off, but there's still
Speaker 1: certainly people that will go and do it without advice.
Speaker 1: But I think just educating people on the fact that
Speaker 1: they can't do it and why most people are usually
Speaker 1: turned off from that.
Speaker 4: Have you, and this is another community question. Have you
Speaker 4: ever told someone that they can't financially afford to have
Speaker 4: a baby?
Speaker 1: No, I haven't, so it's I have. Yeah, it's normally
Speaker 1: just around I suppose, like it depends on what stage
Speaker 1: they're are, so it depends like it's normally projecting out
Speaker 1: their cash flow of what it would look like, who's
Speaker 1: going to take time off work? Yeah, the costs associated
Speaker 1: with having a baby, so like even like things like
Speaker 1: car seat, checking out their nursery, all of that is
Speaker 1: so expensive. So it's not necessarily saying no, you can't
Speaker 1: afford to have a baby, but I think it's showing
Speaker 1: a position that they would be in if they did
Speaker 1: choose to have a baby.
Speaker 4: Maybe I was a more blunt financial advisor, like I
Speaker 4: would actually prefer to have you not me, because I
Speaker 4: remember sitting down with a client and do you know what,
Speaker 4: They were really financially focused, and the question was, can
Speaker 4: we afford to have a baby?
Speaker 1: Yeah?
Speaker 4: And I basically was like, well, if you put it
Speaker 4: like that, no, But if we stretch out the timelines
Speaker 4: and we're not talking about having that baby this year,
Speaker 4: then it becomes a little bit more feasible.
Speaker 2: But that's what you're paying us for exactly.
Speaker 1: You're not like so many times people will be in
Speaker 1: a deficit position whilst one of the parents is on
Speaker 1: parental leave, but planning for that and being like, cool,
Speaker 1: we need to keep x amount of your offset or
Speaker 1: your cash aside to get through those six months, twelve months,
Speaker 1: whatever the plan is. I think that's again an important
Speaker 1: conversation because then they can plan for that and then
Speaker 1: they know, cool, you know that we're going to have
Speaker 1: to put forty grand aside for that year. We've only
Speaker 1: got thirty grand in the bank. Let's like plan around
Speaker 1: when we're actually going to start trying to conceive.
Speaker 4: I feel like that was a loaded question, not from me,
Speaker 4: but from the community. Because they're like, oh, it's like
Speaker 4: and they didn't give me any nuance on that, right.
Speaker 4: But when you're like, oh, have you ever financially said
Speaker 4: you can't have a baby? Well yes, because I'm treating
Speaker 4: it like any other financial goal. Like my job is
Speaker 4: to make sure that you're financially secure and also be
Speaker 4: logical and reasonable. And sometimes we have to step back
Speaker 4: and be like, hey, cool, so this financial goal that
Speaker 4: you've had is not going to work on this timeline
Speaker 4: or it's going to look like this, and then in
Speaker 4: the future we need to do this to maintain it.
Speaker 4: Sometimes we do have to be the big bad wolf
Speaker 4: and be like hey, cool, so your idea it's not
Speaker 4: going to work in reality.
Speaker 1: Yeah, there's also like prioritizing as well as like cool, yeah,
Speaker 1: if you want to do have that child, then you
Speaker 1: can't go on holidays for the next two years or
Speaker 1: like it's again just having those compromising conversations with people
Speaker 1: to kind of show them like you can do this
Speaker 1: or this but not both.
Speaker 4: Yeah, all right, are dialing up the spicy levels. As
Speaker 4: an advisor, what are your thoughts on pre nups? So
Speaker 4: I love these I can see how uncomfortable she.
Speaker 1: Is I think they are definitely important conversation to have.
Speaker 1: So they're called bunny financial agreements here in Australia, So
Speaker 1: especially if someone's coming into the relationship with significantly more wealth,
Speaker 1: I think it's definitely a conversation that needs to be had.
Speaker 1: I've certainly had a few clients who have gone down
Speaker 1: the path after kind of having the conversation with me.
Speaker 1: I suppose it's then just going to the lawyer and
Speaker 1: understanding kind of how they hold up is really important
Speaker 1: because you can put a pre and up in place
Speaker 1: three years time, have.
Speaker 2: A child and everything's changed.
Speaker 1: Yeah, and then things change, and then I think people
Speaker 1: have this misconception that a prenup pool last twenty years,
Speaker 1: and that's certainly not the case because especially clients that
Speaker 1: we see their lives are changing so quickly that Yeah,
Speaker 1: I think it's more just educating people on like what
Speaker 1: actually a binding financial agreement is and how they hold up,
Speaker 1: and then instructing them on kind of what they then
Speaker 1: have to do to go see a lawyer and put
Speaker 1: it in place.
Speaker 4: Yeah, And I think that there's a misconception that a
Speaker 4: binding financial agreement in Australia is as strong as a
Speaker 4: prenup in America, and it's just not like if you
Speaker 4: sign a prenup in America, we are done.
Speaker 2: We are dusted.
Speaker 4: If you said I don't get any of her assets,
Speaker 4: well you're not getting any of her assets. We're in Australia.
Speaker 4: It can be contested in a court of law and
Speaker 4: things can change. And like, I just think from my
Speaker 4: personal perspective. And we've done a few episodes on binding
Speaker 4: financial agreements, which I would implore people to go and
Speaker 4: listen to. But it's about being on the same page, like, hey,
Speaker 4: this is my partner. If everything goes belly up, like
Speaker 4: what would we want the best for each other in
Speaker 4: And like if then the relationship dissolves, at least we
Speaker 4: can fall back on that being no you said, and
Speaker 4: then hopefully that's a really good base of conversation for
Speaker 4: splitting assets. It's not a nice conversation to have, though.
Speaker 4: Next question I've got, I've told you it was going
Speaker 4: to get spicy. Someone said, I'm waiting for my grandmother
Speaker 4: to die so that we inherit her property.
Speaker 2: What things would I need to put in place now?
Speaker 2: Tax wise?
Speaker 1: So it depends on kind of whether they're going to
Speaker 1: inherit the property one hundred percent where there's other people,
Speaker 1: other beneficiaries.
Speaker 2: Involved, Yeah, I've got questions.
Speaker 1: Yeah, and then whether they're going to inherit the actual property,
Speaker 1: whether it's going to be sold in the estate yep.
Speaker 1: So a lot of those things kind of then depend
Speaker 1: on how the tax treatment will will occur, because if
Speaker 1: they're going to sell the property in the estate, then
Speaker 1: the estate will deal with the tax consequences if any
Speaker 1: if like your grandmother's lived in it the whole time,
Speaker 1: there might be a different kind of tax concessions. Whereas
Speaker 1: if they are inheriting the property themselves, it would then
Speaker 1: depend on whether they're planning on living in it. Yeah,
Speaker 1: and like whether they have a spouse or a partner
Speaker 1: that they maybe don't want to get access to the
Speaker 1: property if they were to split up. So yeah, difficult one,
Speaker 1: but I think kind of yeah, it would depend a
Speaker 1: lot on whether you're going to keep the property or
Speaker 1: whether it's going to be sold. Yeah.
Speaker 4: And I mean, at the end of the day, spicy question,
Speaker 4: but I think that one's on a lot of people's minds,
Speaker 4: especially because there are so many conversations around and I've
Speaker 4: been saying on this podcast for like at least five
Speaker 4: years that we are about to experience in the next
Speaker 4: I think it's like two years now, Daisy terrifying wealth. Yeah,
Speaker 4: the biggest intergenerational transfer of wealth the entire world's ever seen. Yeah,
Speaker 4: and that unfortunately comes down to it being quite morbid.
Speaker 4: That means a lot of people are going to die
Speaker 4: and a lot of inheritances are going to happen, and
Speaker 4: a lot of that conversation is actually happening in the
Speaker 4: media and happening in Parliament at the moment. I mean,
Speaker 4: we've got that conversation about the seventeen percent inheritance tax.
Speaker 4: Have you got clients asking about that at the moment?
Speaker 1: Definitely? And unfortunately I have had a few clients at
Speaker 1: a young age that have received a fairly decent inheritance,
Speaker 1: which is obviously like an awful position to be in.
Speaker 1: But like they've there might be in their late twenties
Speaker 1: with kind of millions of dollars and that's so daunting
Speaker 1: as well when people are grieving and then they receive that.
Speaker 1: But yeah, the inheritance tax is a very interesting one.
Speaker 1: It's obviously something that we haven't had in Australia, and
Speaker 1: like there's definitely talks of bringing that in, so I
Speaker 1: think that'll definitely shift things with like the baby boomers generation,
Speaker 1: kind of maybe passing on wealth whilst they're still alive
Speaker 1: and things like that.
Speaker 4: Yeah, and I think it's also really important to point
Speaker 4: that out. I've mentioned this seventeen percent inheritance tax. It
Speaker 4: has not been legislated yet, so it's proposed, it was
Speaker 4: in the budget all of that fun stuff, but it
Speaker 4: hasn't been passed in parliament yet, so it's not a reality,
Speaker 4: but it's very close to becoming a reality, and it's
Speaker 4: something that we do need to consider. Have you had
Speaker 4: clients talking about, all right, well, what do we do instead?
Speaker 4: Should we be gifting things to our kids before we
Speaker 4: pass away, or like, is this a conversation that's not
Speaker 4: coming up yet.
Speaker 1: It's certainly a conversation that I've probably had even before
Speaker 1: this proposed inheritance tax came into play. So whether like,
Speaker 1: yet people cash out their super if they know that
Speaker 1: they're terminally ill and pass it on to their children
Speaker 1: or like, yeah, a lot of To be honest, a
Speaker 1: lot of clients like to pass on their wealth early
Speaker 1: because they like to see their beneficiaries benefit from it
Speaker 1: whilst they're still alive, which I think is really amazing.
Speaker 1: But I think it's good going to become more and
Speaker 1: more a conversation. And there's obviously so many technicalities around
Speaker 1: it as well, especially if like the older client is
Speaker 1: on Centralink and things like that, gifting can just cause
Speaker 1: a whole other realm of difficulties.
Speaker 4: Yeah, all right, what are some sneaky tips to put
Speaker 4: myself in the best financial position to break up with
Speaker 4: my husband?
Speaker 2: We have two kids.
Speaker 1: First things first, it would be kind of making sure
Speaker 1: that you do have your own savings accounts. So with
Speaker 1: all of our clients that are couples, we always recommend
Speaker 1: that they have a separate account that is just in
Speaker 1: their name. So whether they're happily married, going to live
Speaker 1: happily ever after forever like, that's still very very important.
Speaker 1: So I think it's kind of having that pot of
Speaker 1: money put aside is really important. Understanding kind of what
Speaker 1: your day to day expenses would look like if you
Speaker 1: did separate is also an important thing you need to
Speaker 1: take take into consideration. And then kind of a lot
Speaker 1: of clients I see, maybe naively don't know where they're
Speaker 1: standing from a financial position. As well. So kind of
Speaker 1: knowing exactly where the family finances are before you separate
Speaker 1: is also really important when you go through a financial
Speaker 1: separation divorce.
Speaker 2: This is really nosy.
Speaker 4: What's the largest portfolio size or net wealth that you
Speaker 4: or someone everest has ever managed?
Speaker 1: I had a lot of winner, just stop it. So
Speaker 1: they won sixty mil. They bought a new.
Speaker 2: Property, but I think I know who you're talking about.
Speaker 1: A relatively modest property, and then they invested the remainder.
Speaker 1: So yeah, that's probably the biggest. A lot of zero's
Speaker 1: in that account.
Speaker 4: And it would just be compounding over time, and because
Speaker 4: like they will be I'm assuming correct me if I'm wrong,
Speaker 4: that becomes an ongoing client. Like there's a lot of management,
Speaker 4: so you're just going to see them double that in
Speaker 4: the next ten years.
Speaker 1: Yeah, And like to be the wife in this situation,
Speaker 1: she just got so anxious about the level of money
Speaker 1: that's that's in their account. And to her, she wanted
Speaker 1: five grand a week in her bank account and that's
Speaker 1: all she cared about.
Speaker 4: I mean, slay, what like pervy, what are you doing
Speaker 4: with five What did she want five grand a week?
Speaker 1: So she goes on epic holidays oh slay. Yeah, she
Speaker 1: goes on epic holidays and yeah to her, like she's
Speaker 1: not materialistic at all, Like you would see them in
Speaker 1: the street and you would absolutely not know, which I
Speaker 1: think is awesome, Like I think that's so amazing. And
Speaker 1: when they initially won Lotter, it was like cool, like
Speaker 1: do you want to buy a new car? Like what
Speaker 1: is that look like? And they're like, nah, we're happy.
Speaker 2: Like it was just more like I love it.
Speaker 1: Yeah, just a crazy, crazy moment and yeah, a lot
Speaker 1: of zeros in that bank account.
Speaker 2: Yeah, that is very very cool.
Speaker 4: Another person have said, does Daisy feel really nosy about
Speaker 4: why parents don't divide their inheritance to kids evenly? Oh?
Speaker 2: Absolutely, if you see that what it's what you think.
Speaker 1: But like to me, it's also a discussion. It needs
Speaker 1: to be had because they need to realize that if
Speaker 1: you're giving like Victoria ten percent and Alex gets ninety, yeah,
Speaker 1: it's like it's like so what's like what's the relationship?
Speaker 1: They're like, why have you given Victoria more money over
Speaker 1: the past? Like this will needs to be documented properly
Speaker 1: as well, because.
Speaker 2: In Australia be contested.
Speaker 1: In Australia, anyone can contest anyone's will technically, like I
Speaker 1: can contest your will.
Speaker 2: As you should, Queen.
Speaker 1: Yes, absolutely, Steve So like, yeah, it's a conversation that
Speaker 1: needs to be had because people put it in place
Speaker 1: and they're like, oh, well, I haven't spoken to her
Speaker 1: in five years, and I'm like, cool, that doesn't mean
Speaker 1: that she's only going to get ten percent, Like yeah, so.
Speaker 4: I so you're not just thinking it, you're actually being like, okay, king,
Speaker 4: tell me why you're going to make that decision one.
Speaker 1: Hundred percent, because like otherwise I would hate like not
Speaker 1: being more boo like but they they're going to be dead,
Speaker 1: but like I would hate for them not to realize
Speaker 1: what's going to happen with their money as well, because
Speaker 1: like they need to make it again an edge decision
Speaker 1: on that.
Speaker 4: Well that your wishes, yeah, and your wishes aren't going
Speaker 4: to be granted if your structure isn't documented properly and
Speaker 4: actually set up properly. And have you ever been like
Speaker 4: to a client, No, I don't think that's a good
Speaker 4: idea when they're structuring something like that.
Speaker 1: Oh one hundred percent, yeah, one hundred percent. And like, unfortunately,
Speaker 1: I've had clients that maybe have children with like drug
Speaker 1: issues or gambling issues or alcohol issues, and some of
Speaker 1: the time they're like, cool, we're not going to give
Speaker 1: them as much, and I'm like, well, there's different structures
Speaker 1: that you can put in place that protect them, but
Speaker 1: it still means that they're going to get their fair
Speaker 1: share of the estate. So I think it's really trying
Speaker 1: to get to the bottom of why they're doing things
Speaker 1: is so important. And at the end of the day,
Speaker 1: it's their wishes, it's their money, and they can put
Speaker 1: what they want in their will, but knowing that it's
Speaker 1: highly likely going to be contested is kind of where
Speaker 1: my job sits.
Speaker 4: Yeah, And that was always my favorite part of the job,
Speaker 4: just being allowed to be pervy and ask the question.
Speaker 4: Maybe that's why it's given me the confidence now to
Speaker 4: be like oh, Like before I was like, oh, I
Speaker 4: don't know if I should have asked Daisy about what
Speaker 4: she's doing with her extra cash flow.
Speaker 2: But I'm always like, oh, yeah, what about this?
Speaker 4: Don't take me to brunch, Like don't because if you
Speaker 4: say I gotta pay rise, I'll be like, yeah, queen,
Speaker 4: what are you doing with it? And you'll be like,
Speaker 4: why are you asking me? But it's always just like
Speaker 4: the structure and how it works. And also I want
Speaker 4: to know the drama. I don't want to be involved
Speaker 4: in the drama, but I love knowing yours. Tell me
Speaker 4: about your cousin, what did she do?
Speaker 1: Like?
Speaker 2: And thank you.
Speaker 4: I'm going to go sleep in my bed at night
Speaker 4: knowing that that has nothing to do with me. What's
Speaker 4: the wildest thing you've seen someone purchase that you've thought
Speaker 4: was about idea?
Speaker 1: To be honest, probably cars, yeah, on finance? I like
Speaker 1: very expensive cars on finance. Either that or like boats? Yeah?
Speaker 1: Like probably the toys. Yeah, yeah, I agreed, that's probably
Speaker 1: the worst thing I've seen from a financial perspective.
Speaker 2: Yeah, absolutely.
Speaker 4: I I remember having a client they weren't mine, they
Speaker 4: were a client of the practice, purchased a Maserati for
Speaker 4: their mistress on finance.
Speaker 2: Dead dead. I was literally like, did that really happen?
Speaker 2: And it did? It did? I don't know what happened
Speaker 2: to them, but I wish them nothing but the best.
Speaker 4: Daisy, tell me what is the And this is like
Speaker 4: a positive one because I know that I don't have
Speaker 4: much time left with you.
Speaker 2: But what's the wildest success or money turnaround story? You've heard.
Speaker 1: I love this because I feel like I've had a few,
Speaker 1: so I think it's kind of people coming to me
Speaker 1: that are maybe in what they feel is like crippling
Speaker 1: personal loans, credit cards after pay. I have one client
Speaker 1: in particular that kind of comes to mind, and she'd
Speaker 1: broken up with her partner. He had got a car
Speaker 1: loan in her name because he was self employed and
Speaker 1: couldn't get finance. They'd broken up. It was a kind
Speaker 1: of a bit of a financial disaster. But we quickly
Speaker 1: put in place kind of a plan and a budget,
Speaker 1: and then I think within two years she had her
Speaker 1: deposit for a house or for an apartment stopped two years.
Speaker 1: Like that is epic, Like she like she seriously put
Speaker 1: the work in. She did. Yeah, like she seriously put
Speaker 1: the work in. I think it was like yet between
Speaker 1: two to three years she had a decent deposit to
Speaker 1: then go and buy her own place. But again, like
Speaker 1: that took really knuckling down. But she just came to
Speaker 1: me and yeah, and I was just like, cool, if
Speaker 1: you want to commit to this, this is what we
Speaker 1: need to do. And she stuck to it, like to
Speaker 1: the dollar, which I think is so awesome.
Speaker 4: Do you go home and tell your husband about cool clients.
Speaker 2: Oh absolutely, yeah, me too, don't worry. I'm like, oh yeah,
Speaker 2: quient A, Like he doesn't get.
Speaker 4: The name, but I'm like today, Oh my god, I
Speaker 4: remember going home and being like, I don't know if
Speaker 4: I can tell you this, but I'm just really proud.
Speaker 2: Yeah, so good. All right. Last question I've got.
Speaker 4: There are going to be some people listening to this
Speaker 4: who have wanted to get into the financial advice space.
Speaker 2: What advice would you give to an up and coming
Speaker 2: female advisor.
Speaker 1: I love this question. I love that they're thinking about
Speaker 1: coming into financial.
Speaker 2: Advice because I join us.
Speaker 5: Yeah.
Speaker 1: I think it's an underplayed industry. And how like in
Speaker 1: how much of a difference you can make to people's lives,
Speaker 1: Like if we can seriously change lives with kind of
Speaker 1: what we do. My advice for someone upcoming would be
Speaker 1: depending on what they're studying at university, so you do
Speaker 1: need a university degree. If they definitely know that they
Speaker 1: want to go and do financial planning, my number one
Speaker 1: recommendation would be to do a financial planning major because
Speaker 1: it then saves you a whole lot more study afterwards.
Speaker 2: Yeah, so that's what I had to do.
Speaker 4: I had to do a whole bridging course because I
Speaker 4: didn't do like a financial planning major.
Speaker 1: Yeah, one hundred percent of people going through accounting and
Speaker 1: finance thinking that they can kind of step into the
Speaker 1: financial planning profession, which unfortunately you can't. So yeah, depending
Speaker 1: on what they're doing at UNI, I would definitely recommend
Speaker 1: that financial planning major, and I would definitely like recommend
Speaker 1: that they do switch to that, and then if not
Speaker 1: they've already finished, you go and do your extra study,
Speaker 1: find a place that offers a really good grad program
Speaker 1: and like a really good professional year program. That's really
Speaker 1: important because you don't kind of want to start with
Speaker 1: a financial planning practice that maybe doesn't have those structures
Speaker 1: in place. I interview people all the time that have
Speaker 1: been promised something and then they maybe haven't fallen into
Speaker 1: it as they expected, So kind of really suss out
Speaker 1: where you want to work, make sure they have good
Speaker 1: structures in place to kind of help you progress in
Speaker 1: your career as well.
Speaker 2: Am I allowed to add to that absolutely.
Speaker 4: The other thing I would say is, if you are studying,
Speaker 4: try to get like a part time job in the industry.
Speaker 4: So even if that is as a receptionist for a
Speaker 4: financial advice practice, or you know, doing data entry or
Speaker 4: something that you're like, oh, I'm not that keen. It
Speaker 4: will give you the exposure to the industry. And Daisy,
Speaker 4: you've probably looked at so many resumes. You see that
Speaker 4: and you're like, oh, they know the workings of a practice,
Speaker 4: they know how that works, and it's going to put
Speaker 4: you in a much better position than had you just
Speaker 4: done their retail job. At the same time, I know
Speaker 4: it's probably harder to get, but like you can see
Speaker 4: the hustle and the commitment early d percent.
Speaker 1: Yeah, that's exactly what I did, And to be honest,
Speaker 1: it made studying so much easier because I knew that
Speaker 1: I was studying for something that I enjoyed and I
Speaker 1: was doing on a day to day basis. Albeit I
Speaker 1: wasn't obviously a financial advisor or even in a social
Speaker 1: advisor at that point. But yeah, being in a practice
Speaker 1: is really important. And as you said, like even if
Speaker 1: it is data and true or maybe a receptionist role
Speaker 1: that you don't want to do, I think kind of
Speaker 1: being around hearing, hearing the like the day to day dealings,
Speaker 1: like all of our employees get to sit in meetings
Speaker 1: if they want to just to kind of learn and
Speaker 1: actually experience what we do for clients. And I think
Speaker 1: pretty quickly you will know financial plannings for you or not.
Speaker 4: Yeah, one hundred percent, and Daisy, thank you so much
Speaker 4: for doing our I guess did dive into our DMS today.
Speaker 4: I've literally had so much fun chatting with you, and
Speaker 4: I'm so sad that we're running out of time.
Speaker 2: I feel like we've had.
Speaker 4: Some very varied but also very real concerns from our community,
Speaker 4: and it is good to know that they are in
Speaker 4: very trusted hands. And look, if any of these questions
Speaker 4: resonate with you, maybe they did because they were your questions.
Speaker 4: Give everest Wealth a call and see if they can
Speaker 4: help you navigate your finances with more confidence. We'll make
Speaker 4: sure to add any helpful links and mentions made through
Speaker 4: out the episode into the show notes to make sure
Speaker 4: that you guys can lurk on them later. Until then,
Speaker 4: my friends, obviously, what I want you to do is
Speaker 4: review this episode if you enjoyed it, and stay subscribed
Speaker 4: so that you don't miss a beat.
Speaker 2: Daisy, thank you.
Speaker 4: So much for joining us and my friends. I will
Speaker 4: see you on Friday.
Speaker 1: Thanks for having me.
Speaker 4: The advice shared on She's on the Money is general
Speaker 4: in nature and does not consider your individual circumstances. She's
Speaker 4: on the Money exists purely for educational purposes and should
Speaker 4: not be relied upon to make an investment or financial decision.
Speaker 4: If you do choose to buy a financial product, read.
Speaker 5: The PDS TMD and obtain appropriate financial advice.
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Speaker 5: Victoria Divine and Sheese on the Money are authorized representatives
Speaker 5: of Money Sherper Pty lt D a b N three
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Speaker 5: AFSL four five one two eight nine